Industrial Packaging Market Expected to Witness a Steady Growth by 2024
Posted: Aug 24, 2017
Global Industrial Packaging Market: Overview
Industrial packaging offers a protective packaging to the industry for the machinery as well as other tools. This type of packaging not only protects the tools but is also cost effective method. In addition to this, the industrial packaging is widely preferred among different industries due to its growing applications.
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Global Industrial Packaging Market: Growth Factors
The global industrial packaging market is likely to boost in the near future. Use of advanced technology in the production of the industrial packaging has elevated the growth of the global market. Furthermore, the rise in the demand for the industrial packaging from the industry is also boosting the growth of the global industrial packaging market. Additionally, low cost for raw material in industrial packaging is also one of the main reasons that are driving the global industrial packaging market. Moreover, the rise in the rise in job opportunities due to industrial packaging is also boosting the growth of the global industrial packaging market.
On the other hand, the heft cost for transportation is the main reason hindering the growth of global industrial packaging market. Furthermore, unawareness among the people about the industrial packaging is also one of the significant reasons that are hampering the growth of the global market.
Global Industrial Packaging Market: Segmentation
Based on the target audience, the global market for industrial packaging is mainly classified as OEMs, industrial label manufacturers, automotive manufacturers, manufacturing organizations, construction organizations, and others.
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On the basis of pack types, the global market is segmented into containers, drums, crates, pails, pallets, sacks, wrapping strips, wrap films, flexible packing materials, and others.
Based on applications, the global market for industrial packaging is mainly bifurcated as automotive, building & construction, oil & lubricant, chemical & pharmaceutical, rubber & plastic, food & beverages, metal fabrication, agriculture, and others.
On the basis of materials, the global market is divided into plastic, metal, wood, paperboard, and others.
Global Industrial Packaging Market: Regional Analysis
Geographically, the global industrial packaging market is classified as North America, Asia-Pacific, and Rest of the World. The rise in the demand for the industrial packaging from the industry is the main factors that are boosting the global market in Asia Pacific region. Use of advanced technology in the production of the industrial packaging has boosted the global market in North America. The remaining part of the world is likely to witness a slow growth in the global market.
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Global Industrial Packaging Market: Competitive Players
Some of the key players in the global market for industrial packaging are Tekni-Films, Inc., Smurfit Kappa Group, International Paper, Sealed Air Corporation, Nefab Group, Grief Inc., Sonoco, Schutz, B.A.G. Corp., AmeriGlobe, Grief Inc., Mondi Group, Amcor Limited, WestRock Company, International Paper, Bemis Company Inc., Orora Group, Mauser Group, Sigma Plastics Group, and Wuxi Sifang Drums.
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