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The Growth of the Industrial Packaging Market Was Largely Influenced by Mergers & Acquisitions in the Last Few Years
MarketsandMarkets projects that the global market for industrial packaging would grow from USD 54.94 Billion in 2016 to USD 93.28 Billion by 2026, at a CAGR of 5.4%. The growth in the industrial packaging market is supported by the growing parent industries such chemical & pharmaceutical, food & beverages, building & construction, oil & lubrication, and automotive, in both developed and developing countries as well as the increasing need for sustainable and efficient labels which are responsible for conveying warnings and safety messages at the manufacturing sites.
The global market for industrial packaging is dominated by large players such as Grief Inc. (U.S.), Mondi Plc (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.), and Wuxi Sifang Drums Limited Company (China). These players have emphasized and adopted various strategies to expand their global presence and increase their market share. Expansions & divestments, mergers & acquisitions, agreements, and new product launches are some of the major strategies adopted by market players to achieve growth in the Industrial labels market.
The growth of the industrial packaging market was largely influenced by mergers & acquisitions in the last few years. The year 2014 experienced a large number of strategies adopted by top players in the market. Agreements, mergers & acquisitions, expansions & investments and new product launches formed an essential part of their strategies, which led to the flow of considerable income within the company. To maintain a competitive advantage on the competitors, top players emphasized on mergers & acquisitions.
Companies adopted strategies such as mergers & acquisitions to increase the reach of their offerings, improve their production capacity, and focus on core operations. Companies aim to serve the market efficiently by investing in manufacturing facilities and acquiring distribution centers in the fast-growing regions. As a result of the same, Mondi Plc (South Africa), Amcor Limited (Australia), WestRock Company (U.S.), International Paper (U.S.), Bemis Company (U.S.), and Mauser Group (Germany) were the major companies that adopted these strategies
Formed in 1877, Greif Inc. (U.S.) is a world leader in industrial packaging products & services and produces steel, plastic, fiber, flexible and corrugated containers, packaging accessories & containerboards, and provide blending, filling, and packaging services for a wide range of industries. It also produces products such as transit protection products, reconditioned industrial containers, and closure systems for industrial packaging products. The company operate in more than 200 locations in more than 50 countries, and is positioned to serve global as well as regional customers. The company consists of four major divisions, namely, rigid industrial packaging & services, paper packaging, flexible product & services, and land management. The sales operations are spanned in 50 countries across the globe. In September 2016, Grief announced the completion of a major capital improvement to its steel drum paint line at its Warminster, PA facility.
Mondi is an international packaging and paper group, employing around 25,000 people across more than 30 countries. Its operations are located in central Europe, Russia, North America, and South Africa. Mondi is integrated across the packaging and paper value chain from managing forests and producing pulp, paper, and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. Their downstream products require paper and other raw materials such as resins, films, and nonwovens. The company emphasized on new product launches, acquisitions, and agreements to expand its business operations and improve its product portfolio. Mondi Plc signed an agreement in February 2016, to acquire SIMET S.A., the corrugated plant in Poland. The plant produced a wide range of packaging products such as American cases, die-cuts, and others. This agreement is expected to help Mondi sustain the competition in Poland and broaden its product portfolio.
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
Markets and Markets
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