Industrial Packaging Market Expected to Reach $69,787 Million by 2023 Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2016-2023
Pages: 185 Tables: 88 Charts: 25
INDUSTRIAL PACKAGING MARKET
Global Industrial Packaging Market was valued at $53,743 million in 2016, and is projected to reach at $69,787 million by 2023, registering a CAGR of 3.9% from 2017 to 2023. In 2016, the chemical & pharmaceutical segment accounted for approximately one-third share of the global market, in terms of revenue. Industrial packaging is used to pack products during or after manufacturing. These packed goods are often heavy, bulky, sensitive to external atmosphere, and hazardous to environment, thus is necessary to conserve the product during storage and transit. Industrial packaging encompasses drums, intermediate bulk containers (IBCs), sacks, pails, crates, and totes, which are made of materials such as paperboard, plastic, metal, wood, and fiber. Access Full Summary at: https://www.alliedmarketresearch.com/industrial-packaging-market
INDUSTRIAL PACKAGING MARKET Increased globalization is a key factor that boosts the industrial packaging market. Rise in building & construction activities in Asia-Pacific is expected to drive the industrial packaging market during the forecast period, as several countries in this region are witnessing ongoing urbanization. In addition, growth in population across the globe boosts the food & beverages industry as industrial packaging preserves the food products and maintains its efficacy during transportation and distribution. Moreover, due to the rise in international trade, resulting in rise in the exports and imports, which involve long-distance travel and requirement of superior packaging standards in the international market lead to higher demand for industrial packaging. In 2016, the chemical & pharmaceutical segment accounted for the highest share in the global market, and is expected to grow at a CAGR of 4.0% from 2017 to 2023. Chemicals are sensitive to external atmosphere and hazardous to environment; thus, large number of steel drum and rigid IBCs are required to store and ship the chemicals. The rise in geriatric population across the globe and growth in chronic diseases, boost the growth of pharmaceutical industry. Moreover, the growth in emphasis on rural health programs, lifesaving drugs, and preventive vaccines drives the pharmaceutical industry, thereby leading to the increased use of industrial packaging. All the questions related to this particular https://www.alliedmarketresearch.com/purchase-enquiry/2234
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INDUSTRIAL PACKAGING MARKET
Key Findings of the Industrial Packaging Market • Asia-Pacific is anticipated to grow at the highest CAGR, and is expected to maintain its dominant position in the market, in terms of value, during the forecast period, followed by Europe • The food & beverage segment is projected to grow at the highest CAGR of 4.4% during the forecast period. • The IBCs segment is expected to grow at the highest CAGR of 5.6%. • LAMEA accounted for approximately one-tenth share of the global market in 2016. • North America accounted for approximately two-sevenths share in the global market, and is expected to grow at a CAGR of 3.4% during the forecast period.
INDUSTRIAL PACKAGING MARKET Industrial Packaging Market Key Segments
By Product • Drums • IBCs • Sacks • Pails • Crates/Totes
By Material • Paperboard • Plastic • Metal • Wood • Fiber
By Application • Chemical & Pharmaceutical • Building & Construction • Food & Beverage • Oil & Lubricant
By Geography • North America • Europe • Asia-Pacific • LAMEA
INDUSTRIAL PACKAGING MARKET
Asia-Pacific and LAMEA collectively contributed about two-fifths share of the global market, in terms of revenue, in 2016. The key players operating in the global industrial packaging market are Grief, Inc., Mondi PLC., Amcor Limited, Westrock Company, International Paper Company, Bemis Company, Inc., Orora Limited, Mauser Group, Sigma Plastics Group, and Wuxi Sifang Drums Limited Company. Download PDF Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/2234
INDUSTRIAL PACKAGING MARKET Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1⟨855⟩550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com
INDUSTRIAL PACKAGING MARKET
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