Industrial bulk packaging refers to the packaging of industrial materials that are heavy and sensitive to environmental factors such as moisture and dust. Thus, it is necessary to conserve the goods in order to increase their shelf-life and protect them from degradation. Industrial bulk packaging also enables easy transportation while preventing the product from contamination.
Mexico industrial bulk packaging market is expected to surpass US$ 886.1 Mn in terms of value by the end of 2028.
Mexico Industrial Bulk Packaging Market: Drivers
Rise in the construction sector in the Mexico country due to increasing investment by government is projected to augment the market growth of industrial bulk packaging. For instance, in November 2019, the government unveiled the first phase of its ambitious US$42 billion National Infrastructure Plan for 2020-2024 aimed at raising infrastructure investment to more than 5% a year and delivering the annual economic growth of more than 4% over the coming years. The plan consists of 147 projects in roads, railways, airports and ports, as well as telecommunication
Mexico Industrial Bulk Packaging Market: Opportunities
The growing use of drums for transportation of liquids and semi-liquids products in bulk is expected to offer enormous opportunities to the market of Mexico industrial bulk packaging. Drums are widely used in the chemicals & petrochemicals industry. They are considered as ideal packaging materials for storage and transportation of hazardous chemicals products. Therefore, the growing use of drums across the chemical and petrochemical industry is projected to bolster market growth.
Mexico Industrial Bulk Packaging Market: Recent Developments
Mexico Industrial Bulk Packaging Market: Restraints
Complexities associated with the supply chain around the globe is expected to hinder the market growth of Mexico industrial bulk packaging. Moreover, hazards related to the use and production of plastic-based packaging materials is also expected to hamper the market growth of industrial bulk packaging.
Mexico Industrial Bulk Packaging Market - Impact of Coronavirus (Covid-19) Pandemic
Sudden outburst of the COVID-19 global pandemic had resulted in the imposition of severe worldwide lock down measures across a number of countries leading to significant disruptions in export and import activities of industrial bulk packaging companies. While most of the affected countries had already implemented emergency counter measures, emergency COVID-19 cleanliness programs were implemented with limited success across the globe. As a result, major companies and manufacturing complexes were unable to resume normal operations throughout the world trade. As a result, the overall industry sales and revenue figures plummeted causing many industries and manufacturing units to either close down or for slow to resume.
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Figure 1. Mexico Industrial Bulk Packaging Market Share, By Application, 2020
Smaller types of industrial bulk packing products are gaining traction in the market. Small containers are widely used in the pharmaceutical industry. Pails are the most preferred products among smaller formats of industrial bulk packing products. Thus, the growth of the market is also attributed to the expansion of the pharmaceutical industry due to increasing investment by the government in Mexico country. Hence, the growing demand for smaller formats of industrial bulk packing products is expected to fuel market growth.
Product innovation by key players for regional as well as the global expansion is a major trend in the market. This trend is expected to augment market growth. For instance, in July 2018, Greif, the global provider of industrial packaging products and services, has announced the launch of GCUBEShield, in the category of GCUBE intermediate bulk containers (IBCs). It has improved product stability, shelf-life, and operational performance.
Mexico Industrial Bulk Packaging Market: Competitive Landscape
Major players operating in Mexico industrial bulk packaging market include, Mauser Group B.V., Greif, Inc., International Paper Company, Hoover Container Solutions, Inc., Menasha Corporation, Cleveland Steel Container Corporation, Composite Containers LLC
In April 2018, ORBIS Corporation, provider of reusable packaging and part of Menasha Corporation, announced yesterday that it has acquired Response Packaging, headquartered in Piedmont, South Carolina.