The report forecast the global rigid bulk packaging market to grow at a CAGR of 4.23% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is boosting market growth is the resurgence in demand for material handling containers. There is an increase in demand for material handling containers after the break in demand they faced during the global economic downturn. The growth in the manufacturing of components, parts, and other durable metal products used in the composition of heavy automobiles and machinery is driving the need for innovative packaging in warehouses for their storing, handling, and distribution purposes. The portfolio of material handling containers includes attached-lid containers, heavy-duty rigid and folding containers, and stackable containers.
According to the report, a key growth driver is globalization and international trade. The two primary elements driving the global rigid bulk packaging market are the innovative progression (which has reduced the cost of transportation) and the increase in the liberalization of the trade and capital market (which has increased export and import activities). Many emerging economies like China, Russia, Brazil, and India are changing their pattern of trade and investment. Demand for oil- and agriculture-based commodities are increasing rapidly. The increase in trade of oil and chemical has also driven the growth of the bulk container market.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?