Global Stainless Steel IBC’s Market Size was valued at USD 2,826.56 million in 2022. The Stainless-Steel IBC’s industry is projected to grow from USD 2,956.58 million in 2023 to USD 4,431.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 - 2032).
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The increasing demand for safe and reliable storage and transportation of liquids is driving the market for stainless steel IBCs (Intermediate Bulk Containers). Stainless steel IBCs provide a durable and safe option for storing and transporting liquids, making them a popular choice in industries such as chemicals, food products, and fuel. As the demand for these products continues to grow, it is likely that the market for stainless steel IBCs will also see growth. The increasing demand for safe and reliable storage and transportation of liquids is driven by a variety of factors, including population growth, urbanization, and economic development. As more people move into cities and consume more goods and services, there is a corresponding increase in the need for efficient and safe transportation and storage of liquids such as fuel, chemicals, and food products. Additionally, as economies grow and industries expand, there is a greater demand for the safe and reliable transport of raw materials and finished goods. This has led to the development of new technologies and regulations aimed at ensuring the safety and security of liquid transportation and storage. The chemical industry is a significant contributor to the US economy, and with increasing investments in this sector, the demand for safe and reliable storage and transportation solutions like stainless steel IBCs is also likely to grow. Stainless steel IBCs have become an essential element of thriving cross-border trading activities, especially for various end-users such as Industrial Chemicals. It contributes significantly to minimizing liquid spills and spills. This helped them gain tremendous strategic value.
Increased trade activity and increased manufacturing production can also drive the demand for stainless steel IBCs (Intermediate Bulk Containers). As trade activity increases, the need for safe and reliable transportation of goods also increases, and stainless-steel IBCs provide a durable and secure option for transporting liquids. Similarly, as manufacturing production increases, the need for safe and efficient storage of liquids used in the manufacturing process also increases, and stainless-steel IBCs can be used to store these liquids. The durability and safety features of stainless-steel IBCs make them a suitable option for both transportation and storage in these industries. Stainless steel IBCs are 100% recyclable, making them an eco-friendly option for liquid storage and transportation. This factor is expected to boost market growth. The stainless-steel IBC market is expected to grow with the advancements in technology, such as IoT-enabled IBCs, which will provide better tracking, monitoring, and control of the IBCs. Metal IBC has made a substantial contribution to the reduction of bulk liquid snapping and leakage accidents. Furthermore, the global stainless-steel IBC market is largely driven by increased trade activities and expanding manufacturing production.
Based on Capacity, the Stainless-Steel IBC market has been segmented into: Up to 1,000 Liters, 1,001 to 1,500 Liters, 1,501 to 2,000 Liters, and Above 2,000 Liters. In 2022, the Up to 1,000 Liters capacity segment of the Global Stainless-Steel IBC market is expected to drive the market by holding a substantial market share with a market value of USD 1,166.51 million. It is projected to register the highest 4.54% CAGR among the capacity segment during the projected period. Up to 1,000 liters (265 gallons) stainless steel IBCs are a larger capacity option in the market. These IBCs are designed for the storage and transportation of large volumes of hazardous materials. They are ideal for customers in industries such as chemicals, food and beverage, and pharmaceuticals, where larger quantities of materials are required to be stored and transported. These IBCs are made of high-quality stainless steel, which provides excellent durability and corrosion resistance, ensuring that the contents inside are safe and secure during transportation. They are also equipped with features such as spill containment systems, forklift pockets, and secure lids to ensure the safety of the materials being stored and transported.
Figure1: Global Stainless Steel IBC’s Market, by Capacity, 2022 & 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on End User, the Stainless-Steel IBC market has been segmented into: Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Construction, Pharmaceutical, and Others. In 2022, Industrial Chemicals end-user segment led the market with 34% market shares. The target segment is projected to offer a total value of USD 1,362.27 million by 2032. Stainless steel IBCs (Intermediate Bulk Containers) are widely used in the industrial chemicals industry for the storage, transportation, and handling of various chemical products. They are made of high-quality stainless steel, which makes them resistant to corrosion and chemical attacks. These containers have a capacity of around 1000 liters, which makes them ideal for large-scale chemical storage and transportation. Industrial chemicals such as sulfuric acid, hydrochloric acid, and sodium hydroxide are often stored and transported in stainless steel IBCs (Intermediate Bulk Containers). These IBCs are designed specifically to hold and transport harsh chemicals. They are strong and durable and can withstand the corrosive nature of many industrial chemicals. The IBCs are also designed to be easily handled and transported, making them an ideal solution for many industrial applications. They are also available in various designs, such as with or without insulation, and with various accessories like valves, pumps, and level indicators. Overall, stainless steel IBCs are a reliable and cost-effective solution for the storage, transportation, and handling of industrial chemicals. They provide safe and secure storage and transportation of a wide range of chemical products and are easy to maintain and clean.
By Region, the Stainless-Steel IBC’s market is segmented into North America, South America, Europe, Asia Pacific, and Middle East and Africa. North America accounted for the largest market share of 35% in 2022 with a market value of USD 991.59 million; it is expected to register a CAGR of 4.34% during the forecast period. The Stainless-Steel IBC adhering to United Nation, or the U.S. Department of Transportation certification are anticipated to mitigate the risk associated with transportation of liquid products. This resulted in exponential sales of Stainless-Steel IBC in the voluminous industries. The U.S. is expected to remain at the leading position in the global Stainless Steel IBC market during the assessment period. As per the U.S. Department of Energy office of Energy Efficiency & Renewable Energy, the U.S. is the top producer of chemicals in the world and accounting for 1/5th share of world's chemical production. Also, as per the report published by BASF, the chemical production in the U.S. is expected to increase by year over year growth of 4.5% in 2021-2022. Strong demand for the chemicals from automotive, energy sector and consumer goods industries will boost the market. The pharmaceutical industry is also a significant contributor to the growth of the North American stainless steel IBCs market, as these containers are used to store and transport sensitive drugs and vaccines. In terms of region, the United States is expected to be the largest market for stainless steel IBCs in North America, due to the presence of many chemical, food & beverage, and pharmaceutical companies.
The European stainless steel IBCs market is also expected to grow in the coming years, driven by increasing demand from various industries such as chemical, food & beverage, and pharmaceuticals. Stainless steel IBCs are preferred over other materials due to their durability, corrosion resistance, and ability to withstand extreme temperatures. The chemical industry is a major user of stainless-steel IBCs in Europe, as they are used to transport and store a wide range of chemicals and hazardous materials. The food & beverage industry also heavily relies on stainless steel IBCs for the storage and transportation of food products, as they meet the EU regulations for food contact. In terms of region, Western Europe is expected to be the largest market for stainless steel IBCs in Europe, due to the presence of many chemical, food & beverage, and pharmaceutical companies in countries like Germany, France, and the United Kingdom. Overall, stainless steel IBCs are a popular choice in Europe due to their many benefits, and the market is expected to continue growing in the coming years.
Asia-Pacific is expected to register the highest growth rate among the other regions during the forecasted period. China is dominating the Asia-Pacific market due to rising population, which drives up demand for metal IBC due to inherent development in healthcare and pharmaceutical industry. East Asian countries continue to offer significant opportunities for steel drums & IBC manufacturers. The demand for Stainless Steel IBCs in China, South Korea, and other East Asian countries is majorly driven by increased spending on trade activities and the growing demand for chemical packaging. The growing investments in increasing production facilities is likely to create significant growth opportunities for market players over the course of the forecast period. In addition to East Asia, South Asia is likely to remain a lucrative region for the Stainless-Steel IBCs market on account of the expansion of end-use industries which are likely to push the demand during the assessment period.
Figure4: Global Stainless Steel IBC’s Market Size By Region 2022 & 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The stainless-steel IBCs market in South America is growing rapidly due to increasing demand from food and beverage, pharmaceutical, and other industrial sectors. The demand for IBCs is expected to grow further in the coming years due to the rise in production and consumption of various food and beverage products, pharmaceuticals, and chemicals in the region. The region has many international manufacturing and distribution hubs, which has resulted in an increase in the demand for these containers. The major countries in South America that have increased their demand for stainless steel IBCs are Brazil, Colombia, Peru, Chile, and Argentina. In Brazil, the demand is driven by the increasing production of food and beverage products, pharmaceuticals, and chemicals. Colombia is also a major contributor to the growth of the market due to its large pharmaceutical industry. The demand for stainless steel IBCs in Peru and Chile is increasing due to their rising food and beverage production. The demand in Argentina is also growing due to the increasing demand for various industrial products. The chemical industry is a major user of stainless-steel IBCs in Brazil and Argentina, as they are used to transport and store a wide range of chemicals and hazardous materials. The food & beverage industry also heavily relies on stainless steel IBCs for the storage and transportation of food products, as they meet the regulations for food contact.
Growing industrialization and urbanization, especially in the emerging countries of the region, have spurred the demand for a variety of commodities, including chemicals, thus driving the demand for stainless steel IBCs. In terms of region, the Gulf Cooperation Council (GCC) countries are expected to be the largest market for stainless steel IBCs in the MEA region, due to the presence of many chemical, food & beverage, and pharmaceutical companies. Countries like Saudi Arabia, UAE, and Qatar are expected to be the largest market for stainless steel IBCs in the Middle East, due to the presence of many oil and gas, chemical and food & beverage companies. The oil and gas industry are a major user of stainless-steel IBCs in the Middle East, as they are used to transport and store a wide range of chemicals and hazardous materials used in the oil and gas production processes. The market for stainless steel IBCs in Africa is still relatively small compared to other regions, due to the lack of industrialization and economic development in some parts of the continent. Additionally, the high cost of stainless-steel IBCs may also be a barrier for some companies in Africa.
The global Stainless Steel IBC market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Stainless-Steel IBC, to survive and succeed in an intensely competitive market environment.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and increasing the product reach. Thielmann US LLC, Precision IBC, Inc, Automationstechnik GmbH., Sharpsville Container Corporation, Hoover Ferguson Group, Snyder Industries Inc., Snyder Industries Co., Ltd, Metano IBC Services Inc., SCHÄFER WERKE Group, Custom Metalcraft and many more are the major companies in the market, which compete in terms of availability, quality, price, and technology. They primarily focus on the development of Stainless-Steel IBC in the market. Although the international players are dominating the market, regional and foreign players with small market shares also have a presence. The international players may strengthen their presence worldwide through acquisitions during the forecast period.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2,671.35 million |
| Market Size 2023 | USD 2,956.58 million |
| Market Size 2032 | USD 4,431.30 million |
| Compound Annual Growth Rate (CAGR) | 4.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2021 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Capacity, End-User, and Region |
| Geographies Covered | North America, South America, Europe, APAC, and MEA |
| Countries Covered | The U.S, Mexico, Germany, Canada, U.K., France, Italy, Spain, Japan, China, India, Australia, Southeast Asia, South Africa, Argentina, UAE, Saudi Arabia, Egypt, and Brazil, among others |
| Key Companies Profiled | Thielmann US LLC, Precision IBC, Inc, Automationstechnik GmbH., Sharpsville Container Corporation, Hoover Ferguson Group, Snyder Industries Inc., Snyder Industries Co., Ltd, Metano IBC Services Inc., SCHÄFER WERKE Group, and Custom Metalcraft |
| Key Market Opportunities | · Safer Sustainable Packaging and Mounting Popularity in the Petrochemical Sector · Growth of the food and agriculture services industry |
| Key Market Dynamics | · Rising trade activity and increased manufacturing production. · Increasing demand for safe and reliable storage and transportation of liquids |
Stainless Steel IBCs Market Highlights:
Frequently Asked Questions (FAQ) :
The Global Stainless Steel IBC’s Market size was valued at USD 2,826.56 million in 2022.
The global market is projected to grow at a CAGR of 4.60% during the forecast period, 2023-2032.
North America had the largest share of the global market in 2022.
The key players in the market are Thielmann US LLC, Precision IBC, Inc, Automationstechnik GmbH., Sharpsville Container Corporation, Hoover Ferguson Group, Snyder Industries Inc., Snyder Industries Co., Ltd, Metano IBC Services Inc., SCHÄFER WERKE Group, and Custom Metalcraft.
The up to 1,000 Liters segment dominated the Stainless-Steel IBC’s market in 2022.
Industrial Chemicals had the largest revenue share of the global Stainless Steel IBC’s market in 2022.
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