DUBLIN, Dec 22, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Industrial Packaging Market by Pack Type (Drums, Containers, Pails, Sacks, Crates), Material (Metal, Paperboard, Wood, Plastic), Application (Automotive, Food & Beverages, Building & Construction, Chemical), and Region - Global Forecast to 2026" report to their offering.
It is projected that industrial packaging would grow from USD 54.94 Billion in 2016 to reach USD 93.28 Billion by 2026, at a CAGR of 5.4%.
The market for industrial packaging is growing due to increasing trends in parent industries such as construction, automotive, food & beverages, chemical, and, oil & lubricant. Industrial packaging involves protected storage, transporting, and handling of goods in large quantities from manufacturing centers to distribution centers where they are packaged for the end customers.
The industrial packaging market has been categorized based on pack type, material, application, and region. In terms of pack type, the sacks segment accounted for the largest market share, in terms of both value and volume which is projected to grow at the highest CAGR. Plastic packaging sacks are replacing paper and jute packaging because of their versatile properties such as flexibility, durability, lightweight, and low cost. Moreover, plastic is suitable for all types of packaging products including food, chemicals, and fertilizers. The demand for plastic packaging is on the rise because of the increasing demand for convenience food from consumers across the globe.
In terms of material, the plastic material segment accounted for the largest share in this market, in terms of both value and volume, among material types. This is projected to grow at the highest CAGR between 2016 and 2026. In terms of volume, the paperboard segment was the second largest in 2015, and is projected to grow at a CAGR between 2016 and 2026. In 2015, paperboard material accounted for 28.5% of the total industrial packaging market.
In terms of application, the market is segmented into chemicals & pharmaceuticals, food & beverages, building & construction, oil & lubricants, automobile, and others such as rubber & plastic, agriculture, and metal fabrication. Industrial packaging is widely used in the chemical and pharmaceutical sectors wherein a majority of low volume chemical products are packed in sacks. Also, due to the increase in aging population and growing occurrences of chronic diseases, the use of industrial bulk packaging in pharmaceuticals is also increasing. The food & beverages segment is projected to grow at the highest rate.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industrial Packaging Market, by Pack Type
7 Industrial Packaging Market, by Material
8 Industrial Packaging Market, by Application
9 Industrial Packaging Market, by Region
10 Competitive Landscape
11 Company Profiles
- Amcor Limited
- Bemis Company, Inc.
- Grief, Inc.
- International Paper Company
- Mauser Group
- Mondi Plc
- Orora Limited
- Sigma Plastics Group
- Westrock Company
- Wuxi Sifang Drums Limited Company
For more information about this report visit http://www.researchandmarkets.com/research/vwxw8w/industrial
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SOURCE Research and Markets