Reportlinker.com has added a new market research report to its offerings titled ‘Rigid Bulk Packaging Market’.
As the US economy is on the way of revival, the market for rigid bulk packaging is estimated to attain $6.7 billion in 2015. Moreover, demands for high-value, large containers are growing as they are more economical and offer improved performance than smaller, shorter-operating life containers.
According to the report, rigid intermediate bulk containers (RIBCs) and material handling containers are anticipated to achieve the fastest growth through the year 2015. The revival in long-lasting goods production from a low base in 2010 and increase in reusable and returnable containers usage in manufacturing durable and other products will fuel the growth for material handling containers. Increased chemical manufacturing as well as longer operating life and space-storage efficiency will drive the growth of RIBC. Current shift from steel and fiber drums to plastic drums will achieve more than average growth for the latter.
In the major nondurable goods segment, the chemicals market will experience a fast growth and result in greater demand for bulk packaging of chemical products. Rising aging US population and their increased dependence on medications will increase the opportunity of rigid bulk packaging applications in the pharmaceutical sector. Moreover, growth in the food industry will increase the production of rigid bulk packaging containers such as pails and drums.
The report analyzes the historical demand data for the period 2000 through 2010 and outlook for 2015 and 2020 in terms of market, product and material.