The market for IBC rentals is anticipated to reach US$ 1,790.0 Mn by 2029, at a projected CAGR of 5.7% from US$ 1,218.0 Mn in 2022. According to FMI, the IBC rental industry market will generate US$1,218.0 Mn in total revenue in 2022.
By the end of 2029, it’s anticipated that the market for IBC rentals as a whole will have increased by 1.6 times its current value. The top 5 suppliers will control 45–50% of the IBC rental industry market in 2022, driving up demand for IBC rental services. Global revenues for the IBC rental business increased by 5.4% in 2022 compared to the previous year.
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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.
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Competitive Landscape
Leading service providers and manufacturers dealing in the global IBC rental business market are adopting key market strategies such as expansion, product development and others to compete and maximize its sales in the market. Manufacturers and service providers operating in the IBC rental business market are also focusing on innovation and development to lure a major portion of the industry players in the market.
Key Companies Profiled
IBC Rental Business Market By Category
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