Industrial Packaging Market, by Product Type, By Material Type, and By End-Use Industry
Industrial packaging involves the use of high standards and quality packaging material in order to provide protective packaging. However, packaging is not solely associated with the product safety aspects, while it also provide better product storage, safe material handling, enhanced product quality, and easy transportation of a wide range of products from industrial machinery to various appliances of daily use.
Some of the major factors fuelling the industrial packaging market growth include construction industry, increasing trend of recyclable packaging materials such as green packaging, increasing consumption of packaged food items, growing demand for pharmaceutical and medical products, and growing industrialization in the emerging economies such as India, China, and Brazil.
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Among end-use industry, food & beverages industry accounted as the major segment in the industrial packaging market. This is mainly due to the rise in the use of ready-to-use products, growing concerns about the safety and quality of packaged products from manufacturing to consumption of the food.
Packaging plays an important role in protecting fruits and vegetables from damage. Corrugated boxes are mainly used for the packaging of fruits and vegetables, due to its stacking strength, serviceability, and low cost of production. Global agricultural packaging market is estimated to exhibit a CAGR of 5.8% over the forecast period, which in turn, expected to fuel the market growth.
Import and export is the major factor augmenting the growth of industrial packaging market. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the nominal exports and imports are expected to rise at 4.5% and 6.1% respectively by 2017.
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The report segments the global Industrial packaging market on the basis of product type, material, end-use industry, and geography. On the basis of product type, the market is segmented into drums, pails, tubes, containers, sacks, crates, bulk boxes, intermediate bulk containers (IBCs), plastic pallets, and others. On the basis of material, the market is segmented into plastics, metals, wood, paper and paperboard, fiber and fiberboard, and others. On the basis of end-user industry, the market is segmented into automotive, electronics, construction, industrials, food and beverages, chemicals, oil & lubricants and agriculture and horticulture. On the basis of geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
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