Industrial Packaging Market Industrial packaging is essential for the packaging of industrial goods and products, during or after the manufacturing process. Industrial packaging is different from others types of packaging. It mainly focusses on the strength and thickness of the materials used along with secured lock mechanisms and closures. Various industries use high-quality packaging to meet international packaging standards of providing protective packaging. Industrial goods are often bulky, heavy, and sensitive to hazards or external contacts, thus industrial packaging involves the use of different material such as stainless steel, wood, and plastics. Request For Sample Copy of this Research :https://www.coherentmarketinsights.com/insight/request-sample/883 Report Rapid surge in the construction industry is one of the major factors propelling growth in industrial packaging market. According to Coherent Market Insights’ analysis, the global construction industry is projected to increase its market with a CAGR of 5.8% during the period 2016 to 2021. Moreover, increasing popularity of recyclable packaging materials (plastics) and biodegradable packaging materials such as paper & paperboard materials along with ever-expanding industrialization in the emerging economies such as India, China, and Brazil will boost growth of the market in the near future. Other factors such as vast consumption of packaged food in food and beverages industry and advancements in technology such as nanotechnology in printing and films will aid industrial packaging with new opportunities. However factors such as inadequate marketing and branding of products, lack of proper distribution channels, unavailability of skilled manpower, and fluctuating prices of the raw materials used for the manufacturing of industrial packaging products will hamper growth of market. Asia Pacific holds the largest market share in global industrial packaging market. It is projected to exhibit the fastest CAGR of 7.4% during the forecast period. The emerging economies in Asia Pacific such as India, China, South Korea, Vietnam, Malaysia, and Thailand are expected to propel the growth of industrial packaging market in the near future. Furthermore, industries such as petrochemicals, automotive, agriculture, oil and gas, food and beverages, chemicals, and metal fabrication have a high requirement for transportation, safe handling, and storage. These factors augments the market growth in Asia Pacific. Among materials, plastics segment held the dominant position in 2016, with 45.0% market share. Availability of numerous grades of plastic, easy handling due to light weight, and due to its chemical inert property, are some of the major factors driving the demand for this segment.. Paper and paperboard accounted as the second largest segment in 2016, with 29.12% market share. This is mainly owing to its eco-friendly and biodegradable materials, which are used by many end-use industries. Among the end users, chemicals and pharmaceutical industries has the largest market share in the industrial packaging market, owing to high adoption rate of industrial packaging products. According to American Chemistry Council (ACC), due to availability of cheap and abundant ethane and shale gas, there is boom in chemical industry in U.S, with starting of 294 new projects by 2017. According to U.S International Trade Administration, the world market of pharmaceuticals witness a growth rate of 4.9%, and is projected to grow from US$ 1 trillion to US$ 1.3 trillion from 2015 to 2020. Thus, increase in the demand for packaging of chemical and pharmaceutical goods is expected to drive the growth of industrial packaging market over the forecast period. Plastic held the dominant position in 2016 and is expected to retain its dominance during the forecast period. Packaging holds a revenue of US$ 25.5 billion and is projected to exhibit a CAGR of 5.4% over the forecast period. Asia Pacific held the dominant position in the global industrial packaging market in 2016 and is expected to retain its dominance throughout the forecast period. Major Players in the Global Industrial Packaging Market Some of the major players operating in the global Industrial packaging market include AmeriGlobe LLC, Beacon Converters, Bemis Company, Aphena Pharma Solutions, Cascades Inc., International Paper Company, United Drug Plc, and Sigma Plastics Group. For More Informationhttps://tinyurl.com/y2dpse2t About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]
Industrial Packaging Market report categorizes global market by Product Type (Drums, Pails, Tubes, Containers, and Others), By Material Type (Plastics, Metal, Fiber, and others), and By End-Use Industry (Automotive Parts, Food & Beverages, Pharmaceuticals, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
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