The intermediate bulk container market is expected to grow at a CAGR of 5% during the forecast period. High demand for ibcs from construction industry, Growing manufacturing industry, and Rise in containerization are some of the significant factors fueling intermediate bulk container market growth.
High demand for ibcs from construction industry
The market has been categorized into fast-growing and slow-growing geographies. The fast-growing geographies are those that will grow faster than the global market during 2019-2024. Conversely, the slow-growing geographies are those that will exhibit a slower growth rate than that of the global market. In an environment of no growth, the geographies that see the least reduction in market size will be classified as the fast-growing geographies.
APAC will be the fast-growing geography during the forecast period. North America, Europe, MEA, and South America will be the slow-growing geographies.
To best leverage growth opportunities in the market, industry participants need to consider growth prospects in the fast-growing regions while protecting their turf in the slow-growing regions.
