Global Carbon Steel IBC Market is anticipated to expand at a CAGR of 5.4% by 2032

December 21, 2022December 21, 2022 ankush 0 Comments

According to the FMI analysis, the carbon steel IBC market revenue totaled US$ 2.5 Bn in 2021. With the propelling demand from the various End Use, the global carbon steel IBC market is projected to reach US$ 4.4 Bn by 2032, accelerating at a CAGR of 5.4% during the forecast period.

The carbon steel IBC market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the carbon steel IBC sales will rise during 2022-2032 and is projected to create an absolute incremental growth opportunity of US$ 1.9 Bn.

According to Future Market Insights research, during the projected period, the global carbon steel IBC market is set to enjoy a valuation of US$ 2.6 Bn in 2022, and further expand at a CAGR of 5.4% to reach US$ 4.4 Bn by the year 2032. The sales of the boxes by Capacity are anticipated to bolster with the top 3 countries estimated to hold around 30-35% of the market by the end of 2022.

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Competitive Landscape

The key players which are operating in the market are focusing on expansion and innovation. All of them are trying to capture a large market share. Big companies are focusing on USPs to increase sales. Companies are trying to provide good logistics facilities also to attract a mass customer base. Some of the innovations and expansions are as under-

In September 2022, Thielmann US LLC announced the opening of a new subsidiary in France. The expansion will help the company to capture the French rigid packaging market, also it will help the company to expand its capabilities of manufacturing IBCs.

Key Companies Profiled

Thielmann US LLC
Precision IBC, Inc.
Automationstechnik GmbH
Sharpsville Container Corporation
Hoover Ferguson Group
Snyder Industries Inc.
Custom Metalcraft Inc.
Metano IBC Services Inc.
Hawman Container Services
Syspal Ltd
Titan IBC

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How the Substantial Demand from Chemical Industries Is Boosting the Carbon Steel IBC Market?

The carbon steel IBCs are suitable for chemical transportation. The steel intermediate bulk containers are free from chemical reactions and also provide safety during logistics. The mass storage of chemicals and liquid concentrations can be possible through such containers. The storage facility of the containers increases the demand in the chemical industry, as they are required to store hazardous chemicals for a long period. Carbon steel IBCs can avail those chemicals from explosions also. Such heavy requirements of intermediate bulk containers for the industry, it is driving the carbon steel IBC market incrementally.

Historic Market Outlook for Carbon Steel IBC

The global carbon steel IBC market witnessed a CAGR of 3.9% during the historic period with a market value of US$ 2.5 Bn in 2021 from US$ 2.0 Bn in 2015.

Carbon Steel IBC are metal containers having substantial demand from chemical sectors. They are heavy but are considered safe storage containers for liquid form chemicals and concentrations. Carbon steel IBCs have huge demand from the petroleum industry also. The IBCs are suitable for lubricant transportation and have no chemical reactions in between. Due to the pandemic, new logistics have been introduced to the market, and carbon steel IBCs are the most preferable for the same. The steady growing chemical industry is projected to drive the demand for carbon steel IBCs. Overall, the global carbon steel IBC market is anticipated to bolster at a faster pace during the forecast period.

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Carbon Steel IBC Market by Category

By Discharge Type, Carbon Steel IBC Market is Segmented as: