Metal IBC Market: Trends and Growth Factors

Posted by Kishor on March 18th, 2019

Growing Need for Transporting Liquids Aids Market Growth

The transport of several types of liquids including fuels, chemicals, and a range of hazardous materials necessitates the availability of secure and reliable containers. Metal IBC are similar containers that help in storing and transporting liquids without letting them spill out during transit. Hence, the demand within the global market for metal IBC has been growing at a robust rate in recent times.

Metal IBCs undergo several tests to ensure that there are no leakages, and this further enhances the growth prospects of the global metal IBC market. Stainless steel is extensively used for the manufacture of metal IBCs, thus, making the latter durable, reliable, and easy to manufacture. This has also been a major driver of demand within the global market for metal IBC over the past few years.

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Dominance of North American Market

The market for metal IBC in North America has reaped benefits from the stipulation of regulations for liquid transit by the government. Furthermore, safety is paid integral value across the US and Canada, and hence, liquid manufacturers need to ensure that there is no spilling of liquids during transport or unloading. However, it is anticipated that the market in North America would experience a setback due to the rising popularity of advanced transportation facilities across several industries.

The global metal IBC market consists of a large number of market players and the competitive landscape of the global market is highly fragmented. The top market players hold a minor share of the overall market, and this reflects the distorted division of market shares amongst the large, small, and medium-sized players. Since the market is essentially concerned with the sale of goods that help in transport of liquids, the market players have been steadfast in tying up with transport firms and agencies. However, the large number of market players makes it difficult to ascertain as to which players have succeeded in their quest to collaborate with transport channels. It is expected that the global market for IBC metal would witness the emergence of new vendors in the following years. This is because there are virtually no barriers to the entry of new players and sustenance in the market is easy.

The rising need to transport liquids across national and local borders has created commendable growth opportunities for market players. It is anticipated that the market willing to attain supremacy over other vendors would form strategic alliances amongst themselves. Some of the key players in the global market for metal IBC are Transtainer, Hawman Container Services, Syspal Ltd., SCHÄFER WERKE GmbH, Plymouth Industries, CLA CONTAINERS LTD, Obal Centrum s.r.o., and Brookeson Material Handling Ltd. These market players have gone all out to establish their name in the global market for metal IBC.

Transparency Market Research (TMR) projects that the global market for metal IBC would expand at a steady CAGR of 4.10% over the period between 2017 and 2027. Furthermore, the global market for metal IBC was valued at US$ 1,334.4 Mn in 2017 and is expected to touch a value of US$ 1,995.0 Mn by 2027