Mexico Industrial Bulk Packaging Market to Reach $357 Million by 2024

According to the latest market report published by Transparency Market Research titled Industrial Bulk Packaging Market': Mexico Industry Analysis and Forecast 2016-2024, globally the revenue generated from sales of industrial packaging has been estimated to be valued at more than $232.0 million by the end of 2016 and is projected to increase at a CAGR of 5.5% during the forecast period (2016-2024).

The general evolution of industries in emerging economies like Mexico is creating an enormous impact in the demand for industrial bulk packaging. Also, manufacturers are inclined to adopt bulk packaging solutions to minimize the variable cost related to the transportation. For that, rigid packaging is gaining traction among the brand owners. Sensitive products of food and beverages, pharmaceutical, and chemical products require rigid bulk packaging to protect these products from the point of manufacturing to the point of distribution. This study encompasses only industrial rigid bulk packaging solutions in Mexico.

Factors contributing to the growth of industrial bulk packaging are increasing urbanization and an increase in industrial spending on packaged goods. Rigid packaging consumption will also be supported by the extensive and expanding recycling infrastructure for metal, glass, and plastic. Chemicals and petrochemicals sector is the most significant end-use market for industrial bulk packaging. 

A PDF sample for this research report is available online.

Among product type segments of the Mexico industrial bulk packaging market, drum accounts for the largest market share of 47.3% and is expected to gain healthy incremental opportunity in terms of market revenue. However, the IBC segment is anticipated to witness maximum CAGR of around 6.5% over the forecast period, due to its various advantages such as cost effective packaging solutions coupled with the reusability factor of the container. Also, rising dependency of safety and sterilized shipping of products are also expected to fuel the demand of IBC during the forecast period.

Among the application type, chemicals and petrochemicals segment accounted for the largest share in the Mexico industrial bulk packaging market in terms of value in the and is anticipated to increase at a CAGR of 5.2% during the forecast period. The chemical and petrochemicals segment is projected to increase by 1.5X between 2016 and 2024. However, the chemical and petrochemicals segment is expected to lose 160 basis points during the forecast period.

Key players in the Mexico industrial bulk packaging market include Mauser Group B.V., Greif, Inc., International Paper Co., Hoover Container Solutions, Menasha Corp., Cleveland Steel Container Corp., and Composite Containers LLC.