Market Trends of Bulk Container Packaging Industry
This section covers the major market trends shaping the Bulk Container Packaging Market according to our research experts:
Demand for Plastic-based Packaging Solution is Expected to be a Significant Factor in Growth
- Over the years, a trend that has taken hold of the industrial bulk packaging industry is the soaring demand for plastic-based packaging solutions such as pails and drums over any other solution produced from various materials like metal and glass. Utilizing plastic items from a production perspective aids in reaching economies of scale.
- Additionally, using plastics as a raw material enables different manufacturing firms to achieve their standards for creating items with the best qualities, such as dependability, durability, and lightness.
- Along with combustible, explosive, toxic, and hazardous things, dangerous commodities include radioactive substances. In light of this, the trafficking of these items has increased the demand for plastic drums for industrial uses, which has aided in the growth of the drums market.
- The use of these plastic barrels aids producers in pleasing consumers by enabling them to select their most favored color from a wide range of choices, which in turn improves the marketing and advertisement alternatives for their goods. To produce bulk containers and ensure market sustainability over time, manufacturing businesses are anticipated to turn their attention toward biodegradable materials (plastics).
- Additionally, consumers are more likely to use lightweight transportation containers. As a result, the demand for bulk containers made of plastic is rapidly rising worldwide. Nevertheless, several regulatory organizations have established guidelines for using plastic as a packaging material.
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North America to Account for a Significant Share in the Market
- The United States is one of the largest bulk container markets globally. The increasing expansion in the chemical industry, owing to the newfound shale resources, is expected to strengthen the demand for bulk containers in the region. Also, the country's immense exports from the chemical and pharmaceutical sector keep a constant demand for rigid bulk containers, such as drums and pails.
- The country also has a well-established reconditioning infrastructure, boosting pooling networks. Moreover, governments in North America encourage using recycled plastic for manufacturing plastic products, including containers and bottles.
- However, the industry is increasingly affected by the US-China trade wars. In recent times, increased tariff by the US government on Chinese chemical imports has escalated the import-export scenario of the country's chemical industry trade, directly impacting the demand for bulk containers from the industry.
- The chemical sector makes substantial use of bulk container packing. The United States produces a lot of shale gas, which is then utilized as a feedstock to make other chemicals. Many investors are drawn to the chemicals business by the availability of low-cost feedstock worldwide. The bulk container packaging will work best for the unique packaging and transportation needs resulting from this, driving this market's growth prospects over the following years.
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