IBC Rental Business Market is projected to expand at a CAGR of 5.7% during the forecast period 2022-2029

Press Release from Future Market Insights

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.  

  • 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.  

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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.

  • For instance, In 2020, Hoover Ferguson Group, one of the leaders in the IBC rental business market has announced that Company is expanding its range of wine and distillery IBC’s into the Australian and New Zealand.
  • In 2020, the same company was announced as the Environmental Leader Product of the Year winner for their Liquitote® stainless steel Intermediate bulk container.

Key Companies Profiled

  • Brambles Ltd
  • Hoover Ferguson Group
  • HOYER GmbH
  • Envirotainer AB
  • Goodpack Ltd
  • TPS Rental Systems Ltd
  • CMO Enterprises, Inc
  • Americold Realty Trust, Inc
  • Hawman Container Services
  • SCHÄFER Werke GmbH
  • Metano IBC Services, Inc
  • Mitchell Container Services Inc

IBC Rental Business Market By Category

By Material:

  • Carbon Steel
  • Stainless Steel
  • Plastic

By Product:

  • Flexitanks
  • Stainless Steel IBC
  • Carbon Steel IBC
  • Plastic IBC
  • Composite IBC

By Content:

  • Liquids
  • Solids & Semi-solids

By Capacity:

  • Upto 1000 liters
  • 1001-1500 liters
  • 1501-2000 liters
  • Above 2000 liters

By End Use:

  • Industrial Chemicals
  • Petroleum & Lubricants
  • Paints, Inks & Dyes
  • Food & Beverages
  • Personal Care & Cosmetics
  • Synthetic & Natural Rubber
  • Tires & Auto Components
  • Pharmaceuticals
  • Others

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Companies Mentioned in this Press Release: