The global metal IBC market holds a
highly fragmented vendor landscape, says Transparency Market Research
(TMR) in a recently published report. This is because of the existence
of large, medium, and small-sized players in the market. Hawman
Container Services, Transtainer, Plymouth Industries, Obal Centrum
s.r.o, Syspal Ltd., and CLA CONTAINERS LTD are leading players operating
in the global metal IBC market.
Many large-scale companies are tying up
with transport agencies and firms for sailing their goods which help in
transporting liquids. Large vendors are adopting various strategic
alliances for cementing their foothold in the global metal IBC market. A
few inventive strategies adopted by players in the global metal IBC
market to achieve an edge in the industry include collaboration with
transport channels. The rivalry among players is getting escalated due
to the entry of several local players who are concentrating on providing
high-quality products. They are also focusing hard on attracting new
consumers to their businesses to steal a march over their competitors.
According to experts from TMR, the global
metal IBC market is expected to gain revenue worth US$1,995.0 mn by the
end of 2027. The market was valued US$1,334.4 mn in 2017. Experts
project this growth to occur at a steady CAGR of 4.10% during the
forecast period from 2017 to 2027.
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Among various material types of metal
IBC, the stainless steel section is expected to boost the metal IBC
market during the forecast period. This is because of its better tear
and wear properties and low value. With respect to geography, North
America is expected to account for a leading share in the global metal
IBC market in the coming years. This is attributed to the growing demand
for advanced transportation options and flourishing end-use industries
in the region.
Increasing Need to Transport Liquids across Borders to Fuel Growth in Metal IBC Market
Metal IBCs are the containers which are
mostly made up of carbon steel or stainless steel and are mainly
utilized in bulk transportation. Such containers have become the crucial
element in cross border trade practices. Metal IBCs are highly utilized
in various end-use industries and it helps in transporting bulk liquids
such as industrial chemicals. These containers help in minimizing
spillage and snapping cases to a great extent. Such USPs are driving the
global metal IBC market. Along with these, rising trade activities and
manufacturing sector output which requires the good quality of
containers for importing and exporting purposes are also fueling demand
in the global metal IBC market.
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