Intermediate Bulk Container Market Size, Share, Growth Analysis, By Material(Plastic, Metal, Corrugated), By End - Use(Food, Chemicals & Petroleum, Pharmaceuticals, Others), By Region - Industry Forecast 2024-2031

Global Intermediate Bulk Container Market size was valued at USD 14 billion in 2022 and is poised to grow from USD 14.77 billion in 2023 to USD 22.67 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2024-2031).

Factors contributing to market growth include the widespread adoption across various industries and the expansion of global trade. Nevertheless, the market's growth might be somewhat hindered by the fluctuating prices of raw materials used in intermediate bulk containers (IBCs). An intermediate bulk container, recognized for its innovative container design, presents numerous potential applications across a range of industries. These containers, which are pallet-mounted and environmentally sustainable, serve as industrial-grade reusable vessels for transporting and storing bulk liquids, powders, and other materials. Their ability to stack efficiently for space optimization and easy movement via pallet jacks or forklifts has led to an increasing demand for shipping purposes.

In the pharmaceutical sector, the application of IBCs is projected to experience substantial growth during the forecast period, displaying a significant CAGR. This momentum can be attributed to the presence of numerous pharmaceutical manufacturers in the U.S., coupled with the industry's rapid growth due to the increasing prevalence of chronic diseases. Consequently, the pharmaceutical industry is expected to drive an elevated demand for intermediate bulk containers over the forecast period. It's worth noting that IBCs also find extensive use in flood control activities across the country.

US Intermediate Bulk Container Market is poised to grow at a sustainable CAGR for the next forecast year.