Albany, New York, Oct. 25, 2018 (GLOBE NEWSWIRE) -- The global industrial packaging market is prognosticated to witness a robust growth over the coming years, as reported by a recent Transparency Market Research (TMR) study. The global market's competitive ecosystem currently features high amount of fragmentation. The market comprises of a large pool of global, local, regional vendors. The producers of industrial packaging solutions are seen focusing on offering cost effective products, while ensuring they are eco-accommodating. The vendors in the global industrial packaging market are seen concentrating on the development of innovative packaging products, which is expected to amplify the rivalry among the vendors in the global industrial packaging market.
The local and small market vendors compete in terms of the quality of the products, its unique features, and range of offerings, and cost-efficiency. Established vendors are focused on catering to an audience which demands innovative and unique solutions at a lower price as compared to the international vendors, resulting in an intense price battle.
Request to View Sample of Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14417
Currently, Smurfit Kappa Group PLC, Cascades Inc., Greif Inc., Sonoco Product Co., and International Paper Co., are the leading enterprises operating in the global industrial packaging market.
As reported by TMR, the global industrial packaging market is predicted to rise a 4.1% CAGR over the forecast period of 2016 to 2024. The global market was estimated to be worth US$53.03 in 2016, and is expected to reach US$73.25 billion by 2024.
Request PDF Brochure of Report at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14417
Dire Need for Sustainable Packaging Options Too Drive Growth
Environmental concerns over reusing of packaging materials have prompted the presentation of new solutions, impelling organizations to recoup their packaging materials. In recent years, government and packaging associations have begun tending to the natural impacts engaged with the utilization of industrial packaging. A consistent ascent in the demand for food and beverages and pharmaceuticals has added to an extreme increment in the utilization of industrial packaging materials. Be that as it may, the side-effects of waste materials have turned into a grave concern.
Moreover, minimal effort for raw material in industrial packaging is likewise one of the principle reasons that are driving the global industrial packaging market. Additionally, the ascent in the ascent in openings for work because of industrial packaging is likewise boosting the development of the global industrial packaging market.
Request for Custom Research at https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=14417
Booming Industrial Activities in Emerging Economies to Offer Opportunities
Rising globalization and universal exchange are supporting the business development. Developing business ventures, for example, pharmaceutical, drugs, construction and electronics goods segment additionally augments the demand. The created economies are the most noteworthy makers and customers of these items. Though expanding demand in rising economies will additionally drive the business development.
Low and diminished overall revenue to the makers diminishes the business appeal attributable to various local and regional sellers. Low entrance of the market in developing nations blocks the industrial packaging market development. Utilization of bio degradable raw material for pressing gives future growth opportunities to the vendors. Stringent government controls with respect to condition and representative security empowers the utilization of bio degradable materials, such as PLA and PHA plastic, thus fueling industrial packaging market.
Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=14417
Customization to Emerge as Key Market Trend
The rising demand for customization is one of the key patterns that will pick up footing in the market amid the coming years. With the developing rivalry, the merchants are putting forth customization of packaging boxes and compartments dependent on size, plan, and the kind of materials utilized. Different end-client businesses, for example, food and beverage and pharmaceutical enterprises are progressively requesting creative and modified industrial packaging to distinguish their offering at the retail locations.
This review is based on TMR's report titled, "Industrial Packaging Market (Materials - Metal, Plastic Paper, and Wood; Products - Drums, IBCs, Sacks, Pails, Crates, Tubes, and Bulk Boxes; Packaging - Rigid and Flexible; End Users - Agriculture And Horticulture, Automotive, Building & Construction, Chemicals And Pharmaceuticals, Engineering, Food & Beverages, Metal Products, Oil & Lubricants, Plastics And Rubber, Furniture, Electronics, and Tobacco) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024."
Browse Research Release at https://www.transparencymarketresearch.com/pressrelease/industrial-packaging-market.htm
The Industrial Packaging Market is segmented along the following lines:
Global Industrial Packaging Market, By Material
- Metal
- Plastic
- Paper and Wood
- Fiber
Global Industrial Packaging Market, By Product
- Drums
- IBCs
- Sacks
- Pails
- Crates
- Bulk Boxes
Global Industrial Packaging Market, By Packaging
- Rigid
- Flexible
Global Industrial Packaging Market, By End Use
- Agriculture and Horticulture
- Automotive
- Building and Construction
- Chemicals and Pharmaceuticals
- Engineering
- Food and Beverages
- Metal Products
- Oil and Lubricants
- Plastics and Rubber
- Electronics
- Tobacco
Global Industrial Packaging Market, By Region
- North America
- Latin America (LATAM)
- Asia Pacific Excluding Japan (APEJ)
- Europe
- Middle East and Africa (MEA)
Browse More Packaging Market Research Reports
Popular Report by TMR:
- Lubricant Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024: https://www.transparencymarketresearch.com/lubricant-packaging-market.html
- Stock Clamshell Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026: https://www.transparencymarketresearch.com/stock-clamshell-packaging-market.html
- Thermoform Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024: https://www.transparencymarketresearch.com/thermoform-packaging-market.html
About TMR
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Mr. Atil Chaudhari
Transparency Market Research
State Tower
90 State Street,
Suite 700,
Albany, NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
Research Blog: http://www.editiontruth.com/
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
