US rigid bulk packaging market to reach $7.3 bn in 2018
Rigid intermediate bulk containers (RIBCs) and material handling containers are expected to see the fastest growth through 2018, according to Freedonia Group's report
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Prospects will also benefit from trends that are increasing the competitiveness of the manufacturing sector in the US, including insourcing (also called reshoring or onshoring) and rising production of shale oil and gas. Plastics is the leading material for rigid bulk packaging, with steel and paperboard also used to a significant extent.
Rigid intermediate bulk containers (RIBCs) and material handling containers are expected to see the fastest growth through 2018. “Beyond a brighter economic picture, advances for these containers will be driven by cost benefits over smaller or single-trip containers,” according to Esther Palevsky, analyst, Freedonia.
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Nondurable goods markets represented 82 percent of rigid bulk packaging demand in 2013, with chemicals and pharmaceuticals generating more than 50 percent of nondurables demand. Through 2018, chemicals and pharmaceuticals will experience the fastest gains, fueled by a rebound in chemical output combined with the healthcare needs of an aging US population and continuing innovations in drug development. Growth in the food and beverage market will be similar to the overall average, helped by population increases, improved consumer spending levels, and favorable prospects for value added food types such as prepared and assembled products, which tend to contain bulk ingredients that are shipped to food manufacturers in rigid bulk packaging.
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First Published: Oct 15 2014 | 2:05 PM IST