Industrial packaging Market to Rise at 5% CAGR by 2030 Industrial packaging Market to Generate High Revenue
Market Scenario
In its recent study on the industrial packaging industry 2020, Market Research Future (MRFR) reveals many variables that will help the market grow from 2017 to 2023. According to the MRFR analysis, the global industrial packaging market will grow at a CAGR of around 5% from 2017 to 2023. The high usability of industrial packaging for transporting goods from producers to consumers may drive the industrial packaging industry to grow. In addition, the growing requirement to streamline supply chains in order to reach efficient solutions may drive the industrial packaging industry to grow in the next years. The number of items shipped from the manufacturing site to the distribution centre may drive the industrial packaging industry to grow. The growing need for industrial packaging in end-user sectors such as construction, products, drinks, pharmaceuticals, chemicals, and electronics, among others, could propel the global industrial packaging market forward in the coming years.
Segment Study
The segmental study of the Industrial packaging Market is based on materials, packaging type, end-user, and products.
Flexible and rigid packaging types are the two categories of the Industrial packaging Market share
The flexible packaging category, among these, has the potential to generate significant revenue for the global industrial packaging market over the forecast period (2017-2023). The growing need for plastic-based flexible packaging products, as well as flexible packaging’s diverse application, could propel the market sector forward. The material-based segments of the industrial packaging market are plastic, metal, wood, and paper. The domination of plastic can boost world industrial packaging market. The high demand for plastic as an industrial packaging material and their easy availability at economical rates can push the market growth.
The products-based segments of the market are boxes, bags, tanks, sacks, barrels, and others. Boxes can gain considerable traction, which can prompt the expansion of the industrial packaging market.
The end-user-based segments of the industrial packaging product
are construction, food & beverages, electronics, chemicals & pharmaceuticals, and others. The high utility of industrial packaging in chemicals and pharmaceuticals sectors can boost the market growth in the assessment period.
Regional Study
North America, followed by Europe and Asia Pacific, and the Rest of the World are regional segments of the industrial packaging market. In Asia Pacific, the industrial packaging product
is likely to emerge as the largest market in the globe. MRFR study states that North America industrial packaging market can witness high growth pace across the assessment period. The rise of the industrial packaging market in the Asia Pacific region can be primarily driven by the increase in urbanization and industrialization, followed by the rise in consumer spending, and change in lifestyle. In North America, the industrial packaging market can stand second in the world market and the rise in the contribution of import and export activities to the regional industrial packaging market is observed. The North American Free Trade Agreement (NAFTA) is expected to boost the rise of the regional market. in Europe, the industrial packaging market expand at high speed due to the increased demand from the pharmaceuticals and food & beverages industrial packaging.
Key Players
MRFR profiled some reputed industrial packaging market players. They are Mondi plc (Austria), Greif, Inc. (U.S.), WestRock Company (U.S.), Amcor Limited (Australia), Bemis Company, Inc. (U.S.), International Paper Company (U.S.), Mauser Group (Germany), Orora Limited (Australia), Wuxi Sifang Drums Limited Company (China), Sigma Plastics Group (U.S.), Sonoco Products Company (U.S.), NEFAB GROUP (Sweden), Schoeller Allibert (The Netherlands), AmeriGlobe LLC (U.S.), and Sealed Air Corporation (U.S.) among others.
Read more reports details at: https://www.marketresearchfuture.com/categories/chemicals-market-report
Read more details at: https://www.marketresearchfuture.com/infographics
Read more details at: https://www.marketresearchfuture.com/videos
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact
Wantstats Research and Media Private Limited
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Email: [email protected]
