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IBC Rental Business Market will Reach at a CAGR of 5.0% during 2019-2029 | FMI Reports


VALLEY COTTAGE, N.Y. (GLOBE NEWSWIRE) -- The latest market research
report by Future Market Insights on the IBC rental business includes
global industry analysis 2014–2018, and opportunity assessment
2019–2029. The report studies the IBC rental business and provides
critical insights for the forecast period 2019–2029. As per the findings
of the report, the global IBC rental business is projected to
experience significant growth over the forecast period, due to various
driving factors such as the growing demand from low-capital end-users
and stringent shipping and storing regulations.

The global IBC
rental business is estimated to be valued at ~ US$ 1 Bn in 2019,
projecting a CAGR of ~ 5% during the period of 2019-2029. The growth of
the IBC rental business is remarkably driven by increasing demand from
small to middle-scale chemical companies.

The IBC rental business
is expected to witness a steady growth rate in the foreseeable future,
owing to the growth of the global chemical industry. In addition,
continued urbanization in the developing economies of South and East
Asia has increased the demand for chemical which is expected to directly
impact the growth of the IBC rental business.

Europe to Remain as Dominating Market Region throughout the Forecast Period

The
IBC rental business is closely related to the export activities and
manufacturing of chemical and value-added products of different
countries. The domestic production of end user in different regions are
estimated to be a key factor in analyzing the leading end-use industries
for the IBC rental services. Europe is expected to dominate the
regional market in terms of demand, owing to its established export
business. In 2018, Europe contributed nearly 40% of the total global
export of chemical products. The Benelux and Germany are estimated to
account cumulatively 1/3 of market share in the European IBC rental
business. South Asia is anticipated to witness a fast-paced growth,
owing to government policies to increase the export of chemical products
from ASEAN regions and India.

Temperature-controlled IBCs to Gain Traction in Coming Years

The
global market of IBC rental business has been segmented in terms of
material type, product type, content, capacity, end use, and regions.
The regions are segmented into North America, Latin America, Europe,
East Asia, South Asia, and Middle East & Africa.

  • By
    product type, carbon steel IBC is generally preferred in the IBC rental
    business. In terms of value, stainless steel IBC is estimated to be the
    leading product in the market. The reusability and secure handling of
    hazardous and flammable products are critical features, due to which
    steel IBCs are highly used in IBC rental business.
  • By content,
    shipping and storing of liquid are the main applications of rental IBCs.
    The higher safety, filling, and dispensing offered by IBCs are expected
    to prove itself as great packaging formant for industrial products
    packaging.
  • By capacity type, the IBCs with the capacity of
    1,001-1,500 liters are estimated to be prominent in the global IBC
    rental business, owing to the specific standard size mentioned by
    regulatory authorities.
  • By end use, the industrial chemicals
    segment is leading for IBC rental business. The food & beverages
    segment is projected to be an emerging segment for IBC rental business,
    due to estimated increment in export volume based on previous five-year
    trade.

IBC Rental Business: Market Vendor Insights

The
report highlights some of the market players, who have recognized
themselves as leaders in the global IBC rental business. Some of the
global key players in the IBC rental business profiled in report are
Good Pack Ltd., Hoover Ferguson Group, Arlington Packaging (Rental)
Limited, Precision IBC, Inc., Hoyer Group, Metano IBC Services, Inc.,
CMO Enterprises, Inc., Mitchell Container Services, Inc., Global
Packaging Services (GPS), Brambles Limited, Envirotainer AB, Americold,
HCS (Hawman Container Services), SCHÄFER WERKE GmbH, and TPS Rental
Systems.

Some of the IBC manufacturers are also showing interest
to enter in IBC rental business owing to high-profit opportunity in
renting, cleaning, and maintaining services of IBCs. It will show
remarkable increment in the volume of rental IBCs in the global fleet.

Press Release Sourcehttps://www.globenewswire.com/news-release/2019/09/12/1914728/0/en/IBC-Rental-Business-Market-is-projected-to-grow-at-a-CAGR-of-5-during-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html

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About Us

Future
Market Insights (FMI) is a leading market intelligence and consulting
firm. We deliver syndicated research reports, custom research reports
and consulting services which are personalized in nature. FMI delivers a
complete packaged solution, which combines current market intelligence,
statistical anecdotes, technology inputs, valuable growth insights and
an aerial view of the competitive framework and future market trends.

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