HOME › Press Releases › Industrial Packaging Market worth 93.28 Billion by 2026
Industrial Packaging Market worth 93.28 Billion by 2026
The report "Industrial Packaging Market by Pack Type (Drums, Containers, Pails, Sacks, Crates), Material (Metal, Paperboard, Wood, Plastic), Application (Automotive, Food & Beverages, Building & Construction, Chemical), and Region - Global Forecast to 2026", The market for industrial packaging is projected to grow from USD 54.94 Billion in 2016 to reach USD 93.28 Billion by 2026, at a CAGR of 5.4%.
Browse 111 market data tables and 48 figures spread through 168 pages and in-depth TOC on “Industrial Packaging Market by Pack Type (Drums, Containers, Pails, Sacks, Crates), Material (Metal, Paperboard, Wood, Plastic), Application (Automotive, Food & Beverages, Building & Construction, Chemical), and Region - Global Forecast to 2026”
Early buyers will receive 10% customization on reports.
The market for industrial packaging is growing due to increasing trends in end-use industries. The growth in this market is driven by the increasing trend in the chemical industry output combined with the increasing healthcare needs of drugs and medicines for the aging U.S. population, coupled with continuing innovations in drug development.
The sacks pack type segment is expected to gain maximum traction during the forecast period
Sacks are highly preferred due to its characteristics such as lightweight and easily movable; it is used at sites such as automotive, construction, manufacturing, and food & beverages. The sacks segment accounted for the largest share in 2015; and it is projected to grow at the highest CAGR between 2016 and 2026. The sack segment is projected to remain the largest, owing to easy usability and handling of sack packaging.
The chemical & pharmaceutical segment is projected to grow at the highest rate during the forecast period
The industrial packaging market is segmented on the basis of end-use industry into transportation & logistics, automotive, construction, chemical, and food & beverages, and others. The chemical & pharmaceuticals segment accounted for the largest share in 2015; this is projected to grow at the highest from 2016 and 2026. The CAGR over the next ten years is projected to be higher, owing to the increasing use of chemical in the manufacturing industry and other industrial applications.
Asia-Pacific to play a key role in the market for industrial packaging
On the basis of key regions, the market for industrial packaging is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The low labor costs, excellent industrialization, a huge scope for FDI, emerging economic conditions, stable government scenarios, and an excellent hold on industries such as construction, automotive, and chemical have played a crucial role in the growth of the market for industrial packaging in the Asia-Pacific region.
The key players considered in the report are:
- Grief Inc. (U.S.)
- Mondi Group (South Africa)
- Amcor Limited (Australia)
- WestRock Company (U.S.)
- International Paper (U.S.)
- Bemis Company Inc. (U.S.)
- Orora Group (Australia)
- Mauser Group (Germany)
- Sigma Plastics Group (U.S.)
- Wuxi Sifang Drums Limited Company (China)
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India