Smarter packaging translates into more efficient operations for many businesses out there. There are the companies that supply the industrial packaging materials, and then there are the companies that utilise them to push out product. What are the major industrial packaging trends in 2018 that are driving the market for years to come?
First, let’s identify the key players in this sector. There are of course the chemical and pharmaceutical companies. There are also the companies that sell lubricants. The building and construction industry is included on this short list, and there is one more major player. That industry is the bulk food and beverages industry.
Industrial packaging as a sector is growing steadily, and it is estimated in a couple of years to be a $60+ billion dollar industry. While the growth for the market is only a little over 3 percent per year, it’s still steadily climbing. Moreover, there is a major shift globally that is driving the market. Asia now leads this sector in market share, and the continent will continue to do so in the coming years.
That is one major trend that is being discussed among analysts. Furthermore, another trend is that the major industries involved in the industrial packaging sector are still recovering from the global economic downturn from a decade ago. That type of forecast really makes one think about the economy and how this sector ties in to consumerism.
Which type of industrial packaging is seeing the largest amount of growth? The answer to that question is IBCs, and both IBCs and drums are also responsible for the largest market share in general. If you look at the entire industrial packaging sector, these two examples are a third of the overall market. That’s a rather impressive statistic, wouldn’t you say?
Sacks also have a large market share, thanks to both pharmaceutical companies and chemical companies. Yet this type of industrial packaging is actually losing momentum and market share, just slightly. Bulk supplies, recycling and mechanisation all play roles in how the industrial packaging sector is being handled in 2018 and beyond. The changing trends are certainly driving the market, especially for the four industries mentioned.
Recycling efforts are helping to minimise the impact on the environment of course, and that is certainly a driving force in the sector and in each industry. If you are reading this and are a business owner, how has recycling and the packaging trends of 2018 affected your company? Metal packaging trends are one of the driving forces when it comes to recycling efforts.
There is down sizing that is taking place within certain industries as well. And it was definitely mentioned that there are global shifts going on, causing changes within the sector. There have also been technological improvements and a trend moving away towards manual operations. That has been happening for quite some time, but it is definitely reshaping industries moving past 2018 and into the future.
It is desired to use less materials across the board, conserving resources and cutting costs. That objective is more easily achieved for certain industries, but it is a goal of all companies. Environmental impact is a leading factor, and of course the consumers benefit from this type of company focus in more ways than one.
Given the trends described, which of them are having a major impact on your industry and company? Perhaps it’s time to take a closer look at what you are going to do for your company to change the way you handle industrial packaging. What can you do to make a difference in the way your company does business?