IBC Rental Business Market is Projected to Register a CAGR of 5.0% during 2019-2
Posted by Vijay Kundekar on March 16th, 2020
The latest market research report by Future Market Insights on the IBC rental business includes global industry analysis 2014–2018, and opportunity assessment 2019–2029. The report studies the IBC rental business and provides critical insights for the forecast period 2019–2029. As per the findings of the report, the global IBC rental business is projected to experience significant growth over the forecast period, due to various driving factors such as the growing demand from low-capital end-users and stringent shipping and storing regulations.
The global IBC rental business is estimated to be valued at ~ US$ 1 Bn in 2019, projecting a CAGR of ~ 5% during the period of 2019-2029. The growth of the IBC rental business is remarkably driven by increasing demand from small to middle-scale chemical companies.
The IBC rental business is expected to witness a steady growth rate in the foreseeable future, owing to the growth of the global chemical industry. In addition, continued urbanization in the developing economies of South and East Asia has increased the demand for chemical which is expected to directly impact the growth of the IBC rental business.
Europe to Remain as Dominating Market Region throughout the Forecast Period
The IBC rental business is closely related to the export activities and manufacturing of chemical and value-added products of different countries. The domestic production of end user in different regions are estimated to be a key factor in analyzing the leading end-use industries for the IBC rental services. Europe is expected to dominate the regional market in terms of demand, owing to its established export business. In 2018, Europe contributed nearly 40% of the total global export of chemical products. The Benelux and Germany are estimated to account cumulatively 1/3 of market share in the European IBC rental business. South Asia is anticipated to witness a fast-paced growth, owing to government policies to increase the export of chemical products from ASEAN regions and India.
Temperature-controlled IBCs to Gain Traction in Coming Years
The global market of IBC rental business has been segmented in terms of material type, product type, content, capacity, end use, and regions. The regions are segmented into North America, Latin America, Europe, East Asia, South Asia, and Middle East & Africa.
IBC Rental Business: Market Vendor Insights
The report highlights some of the market players, who have recognized themselves as leaders in the global IBC rental business. Some of the global key players in the IBC rental business profiled in report are Good Pack Ltd., Hoover Ferguson Group, Arlington Packaging (Rental) Limited, Precision IBC, Inc., Hoyer Group, Metano IBC Services, Inc., CMO Enterprises, Inc., Mitchell Container Services, Inc., Global Packaging Services (GPS), Brambles Limited, Envirotainer AB, Americold, HCS (Hawman Container Services), SCHÄFER WERKE GmbH, and TPS Rental Systems.
Some of the IBC manufacturers are also showing interest to enter in IBC rental business owing to high-profit opportunity in renting, cleaning, and maintaining services of IBCs. It will show remarkable increment in the volume of rental IBCs in the global fleet.
Press Release Source: https://www.globenewswire.com/news-release/2019/09/12/1914728/0/en/IBC-Rental-Business-Market-is-projected-to-grow-at-a-CAGR-of-5-during-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Mr. Abhishek Budholiya
Future Market Insights
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About the AuthorVijay Kundekar
Joined: August 22nd, 2019
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