This particular type of packaging offers a damage control level, which is significant for insurance reasons as well. Specialized and pricey parts and machinery must be boxed correctly to minimize the extent of loss or damage through transit. Industrial packaging is useful when a large number of products are being transported from one manufacturing point to another. Typically, the client is another commercial or industrial organization which is arranging to use the packed product as an input for its manufacturing process.
The segmental study of the global industrial packaging market size is based on materials, packaging type, end-user, and products.
The packaging type based segments of the industrial packaging market are flexible and rigid. Among these segments, the flexible packaging segment can bring high revenue for the world industrial packaging market in the forecast period (2017-2023). The rise in the need for plastic-based flexible packaging products, along with diversified utility of flexible packaging can drive the expansion of the market segment.
The material based segments of the industrial packaging market are plastic, metal, wood, and paper. The domination of plastic can boost world industrial packaging market. The high demand for plastic as an industrial packaging material and their easy availability at economical rates can push the market growth.
The products based segments of the market are boxes, bags, tanks, sacks, barrels, and others. Boxes can gain considerable traction, which can prompt the expansion of the industrial packaging market.
The end-user based segments of the industrial packaging market size are construction, food & beverages, electronics, chemicals & pharmaceuticals, and others. The high utility of industrial packaging in chemicals and pharmaceuticals sectors can boost the market growth in the assessment period.
Moreover, the development of sustainable industrial packaging has gained traction in recent years especially since waste from packaging is a substantial factor adding to the growth of the market. The need to optimize industrial packaging is a key factor inspiring the development of industrial packaging. The availability of new automated box forming machines that offer great right-sizing flexibility is further adding momentum to the market’s expansion in the future.