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Plastic rigid IBC are containers are used for storing and transporting liquids such as chemicals, solvents, food ingredients, pharmaceutical products and other granulated substances in bulk quantity. Plastic rigid IBC are available in various capacities, designs and colors. The petroleum and lubricants market are expected to grow at a high pace due to rapid increase in automobile sales which contributes to the growth of Plastic Rigid IBC Market Growth. Plastic rigid IBC offer extensive flexibility and cost effectiveness. One of the major factors driving the Plastic Rigid IBC Market Growth is continuous innovation among products by the manufacturers in order to tap opportunities in the global market.
Hence, the global Plastic Rigid IBC Market Growth is expected to grow at a CAGR of 5.8% during the forecast period.
Asia-pacific region dominates the global Plastic Rigid IBC Market Growth
Geographically, the global Plastic Rigid IBC Market Growth has been divided into four major regions namely North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific accounted for the largest market share, in 2017, followed by the Middle East & Africa and North America. Increase in GDP of developing economies such as China and India and rapid growth in manufacturing activities and industrial sectors are driving the growth of the market in Asia-Pacific. Also, the Middle East & Africa is the largest exporter of petroleum oil which drives the growth of Plastic Rigid IBC Market Growth in this region.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period. Rapidly increasing automobile sales, which increase the growth of petroleum and lubricants market in the region, is driving the demand of the Plastic Rigid IBC Market Growth. China, Japan, and India are the major markets in Asia-Pacific. Additionally, growth in food & beverage industry and transportation of agrochemicals can provide a lucrative opportunity for market growth. The Middle East region is expected to contribute significantly during the forecast period mainly due to large-scale petroleum exports.
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The prominent players in the Plastic Rigid IBC Market Growth include Schutz Container Systems (US), Greif, Inc. (US), Maschiopack GmbH (Germany), SCHÜTZ GmbH & Co. KGaA (US), Bulk Handling Australia (Australia), ZIBO JIELIN PLASTIC PIPE MANUFACTURE CO., LTD (China), WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany), Snyder Industries, Inc. (US), Sintex Industries (India), Hoover Ferguson Group, Inc. (US) among others.
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https://yarabook.com/read-blog/56467
https://yarabook.com/read-blog/56473
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