Industry Analysis of Stainless Steel IBC in the United States
United States Stainless Steel IBC Industry Analysis by Hot and Cold Rolled Manufacturing Process, 2023 to 2033
Explore How Unmatched Durability and Corrosion-resistance of Stainless Steel IBC is Driving Growth Opportunities for Manufacturers across the United States
United States Stainless Steel IBC Industry Outlook from (2023 to 2033)
The demand for stainless steel IBCs in the United States reached US$ 183.9 million in 2022 and is forecast to exhibit Y-o-Y growth of 1.9% in 2023. Sales of stainless steel IBCs in the United States will likely total US$ 187.9 million in 2023 and US$ 239.4 million by 2033. Over the forecast period, stainless steel IBC demand in the country is set to rise at 2.5% CAGR.
The recent stainless steel IBC industry analysis shows that the chemicals segment is expected to account for more than 49.0% of share in 2022. This is due to rising usage of stainless IBCs for storing and transporting a wide range of dangerous chemicals.
In terms of capacity, the 1,001 to 1,500 litres segment accounted for a significant share of over 55% in 2022. This segment is anticipated to attain a valuation of US$ 125.6 million by 2033.
Attributes
Key Insights
United States Stainless Steel IBC Anticipated Value (2022A)
US$ 183.9 million
United States Stainless Steel IBC Estimated Revenue (2023E)
US$ 187.9 million
United States Stainless Steel IBC Projected Revenue (2033F)
US$ 239.4 million
Anticipated United States Stainless Steel IBC Value CAGR (2023 to 2033)
2.5%
Collective Value Share: Top 5 Companies (2022A)
30% to 35%
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Key Highlights
United States to Expand 1.3X through 2033
The United States stainless steel intermediate bulk container (IBC) business is projected to expand 1.3X through 2033, amid a 1.4% increase in predicted CAGR compared to the historical one. This is attributable to increasing demand for sustainable and corrosion-resistant containers from diverse sectors.
Chemical Businesses to Remain the Primary Consumer of Stainless Steel IBCs
As per the latest report, the United States chemical business domain is expected to remain the leading end user of stainless steel intermediate bulk containers in the United States. This is due to the rising usage of stainless steel IBCs in the chemical business domain to store and transport hazardous and non-hazardous chemicals.
Stainless steel IBCs are in high demand from the chemical business domain due to their durable, leak-proof, and corrosion-resistant properties. These chemical-grade IBCs can safely handle, store, and transport corrosive chemicals. Growing adoption across the chemical business domain will improve share in the United States stainless steel IBC business.
Manufacturers Exploring Novel Technologies to Stay Ahead
Leading United States-based stainless steel IBC manufacturers are focusing on utilizing advanced technologies in IBCs. For instance, they are exploring integrating IoT devices to enable real-time monitoring of packed contents.
Certain IBC companies use sensors to track pressure, temperature, and other vital parameters. They are looking for ways to integrate smart technologies that facilitate easier maintenance of stainless steel IBCs. All these innovations are expected to help companies to stand out from the crowd and expand their customer base.
Overview of the Stainless Steel IBC Space in the United States
Intermediate bulk containers (IBCs) or IBC totes are bulk industrial packaging solutions gaining popularity across the United States. They are in high demand from sectors dealing with liquids, semi-solids, and other sensitive compounds. Stainless IBCs are widely used in chemicals, food & beverages, and pharmaceuticals. This is due to several advantages, including,
Durability and corrosion-resistance: Stainless steel IBCs are strong and corrosion-resistant, making them ideal for storing sensitive products across several sectors like chemicals and construction. They are resistant to rust and corrosion and are suitable for use in harsh environments.
Reusability: As stainless steel intermediate bulk containers are very durable, they can be reused multiple times. This makes them cost-effective packaging solutions for long-term storage and transportation needs.
Sanitary: Stainless steel IBCs are easy to clean and sanitize due to the non-porous nature of stainless steel. As a result, they are widely used in pharmaceutical and food & beverage sectors where hygiene is crucial.
The United States Environmental Protection Agency finalized packaging criteria in April 2011, 25% of which should be met by manufacturers of packaging products to get their offerings approved for commercial use. Stringency in such laws propels the use of recyclable materials in the United States packaging business domain.
Innovative and technologically advanced packaging solutions like intelligent or smart packaging are drawing the attention of manufacturers based in the United States. Domestic players in the United States packaging business domain are also exploring ways to trade along the global sustainable packaging trend.
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Historical United States Stainless Steel IBC Industry Analysis Vs. Forecast
The United States stainless steel IBC space recorded a CAGR of 1.1% during the historic period. Total value surged from US$ 176.1 million in 2018 to US$ 183.9 million in 2022.
Sales of stainless steel IBCs in the United States grew slowly during the historical period. This was primarily due to the impact of the COVID-19 pandemic on the end-use fields and cross-border trade activities.
United States Stainless Steel IBC Industry Outlook
The United States stainless steel intermediate bulk container business is forecast to thrive at a steady CAGR of 2.5% during the assessment period. Total revenue in the country is projected to reach US$ 239.4 million by 2033.
Historical CAGR (2018 to 2022)
1.1%
Forecast CAGR (2023 to 2033)
2.5%
Understanding Crucial Drivers Impacting United States Stainless Steel IBC Space
Expansions of Chemical, Pharmaceutical, and Food & Beverage Firms Driving Sales
Rising adoption of stainless steel IBC across chemical, food & beverage, and pharmaceutical sectors is a key factor driving the United States space forward. These sectors have strict regulations regarding the safe and hygienic handling of materials, and stainless steel IBC meets all these regulations.
Several food manufacturers across the United States are using food grade IBCs to transport sensitive food & beverage products. This high adoption of food grade IBCs is expected to boost the United States stainless steel IBC business.
Growing Demand for Durable and Corrosion-resistant Packaging Solutions
Stainless steel IBCs suitable for storing and transporting needs across several sectors, especially those handling chemicals, food products, hazardous liquids, and pharmaceuticals. As related sectors expand across the United States, industrial bulk containers are expected to grow in demand through 2033.
Rapid Shift towards Sustainable Packaging
Stainless steel IBCs are reusable and recyclable, making them eco-friendlier than other containers. United States-based businesses looking to reduce their environmental impact are inclined to use sustainable packaging solutions like stainless steel IBCs. This is expected to drive sales of stainless steel IBCs in the country.
Increasing Cross-border Trade to Drive Demand for Stainless Steel IBCs
The United States is a key importer and exporter of chemicals, pharmaceuticals, and other commodities. Rising trade activities in the country are creating a high demand for packaging solutions like stainless steel IBCs, and the trend is expected to continue through 2033.
Companies widely use these packaging containers to transport bulk materials and products across borders as they are safe, durable, secure, corrosion-resistant, stackable, and cost-effective. This is a crucial factor boosting sales in the United States.
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Key United States Stainless Steel IBC Business Trends Shaping Growth
Reusability and Environmental Benefits of Stainless Steel IBCs Fueling Adoption
As stainless steel IBCs can be reused multiple times, they reduce the need for single-use packaging materials, such as plastic containers. This helps minimize waste generation and lowers the carbon footprint associated with manufacturing and disposing of single-use items.
Reusable packaging, including stainless steel IBCs, contributes to lower CO2 emissions. By extending the lifespan of containers, there is a reduction in the energy and resources required for producing new containers, leading to a more environmentally friendly supply chain. This is driving their adoption across the United States.
The food and beverage sector increasingly adopts reusable containers like stainless steel IBCs to create zero-waste supply chains. These containers are a sustainable alternative to single-use packaging and contribute to efficient and eco-friendly operations.
Several companies and sectors have sustainability goals to reduce their environmental impact. Adopting reusable stainless steel IBCs aligns with these goals and demonstrates a commitment to environmentally responsible practices. Hence, the reusability and ecological benefits will likely drive stainless steel IBC demand in the United States.
Usage of Alternative Industrial Containers like Plastic IBC can Hamper Demand
Several companies prefer plastic drums, bulk bags, and plastic IBCs for transporting goods. This is due to the lightweight and cost-effectiveness of these industrial packaging solutions. Rising adoption of these industrial packaging solutions might limit the growth of United States stainless steel IBC.
Comparative View of Adjacent United States Stainless Steel IBC Space
The United States stainless steel IBC space is likely impacted by the tangential or peer businesses in the packaging sector. These include other types of businesses, such as the intermediate bulk container and the metal IBC businesses.
Analysis of these related businesses can provide deeper insights that help develop unique differentiating strategies for growth and opportunity. For instance, rising demand for metal IBCs will create growth prospects for stainless steel IBC manufacturers.
Scope of the Stainless Steel IBC Business in the United States:
CAGR (2023 to 2033)
2.5%
Estimated Value (2023)
US$ 187.9 million
Growth Factor
Reusability and environmental benefits to boost stainless steel IBC sales in the United States.
Key Trend
Integration of IoT technology into stainless steel intermediate bulk containers (IBCs) and shifting preference towards sustainable packaging are key trends in the field of stainless steel IBCs across the United States.
Increased demand for modern containers for large quantity liquid transportation is expected to fuel IBC sales.
Key Trend
Incorporation of advanced technologies in IBCs will create lucrative opportunities for IBC manufacturers.
Key Trends in the Metal IBC Space:
CAGR (2023 to 2033)
5.1%
Estimated Value (2023)
~US$ 11.7 billion
Growth Factor
Expansion in international logistics business to boost the metal IBC space.
Key Trend
Growing demand for electric intermediate bulk containers (E-IBCs) or heatable IBCs is a key trend observed in the domain of expertise.
Growth Outlook for Sub-regions
Sub-region
Value CAGR
Northeast
1.7%
Southwest
2.0%
Southeast
3.0
Category-wise Insights
Growth Outlook by Key Capacity
Capacity
Value CAGR
Up to 1,000 Liters
3.4%
Between 1,001 to 1,500
2.0%
More than 1,500 Liters
2.7%
IBCs with 1,001 to 1,500 Liters Capacity to Retain Dominance
Based on capacity, the United States stainless steel IBC business is segmented into up to 1,000 liters, between 1,001 to 1,500 liters, and more than 1,500 liters. The 1,001 to 1,500 liters segment is expected to dominate by 2033.
As per the latest report, demand for 1,001 to 1,500 liters of IBCs in the United States is expected to rise at 2.0% CAGR, totaling US$ 125.6 million by 2033. The target segment is set to hold a share of about 55% in 2023.
The dominance of 1,001 to 1,500 litres IBCs is attributed to the need for efficient storage and transportation of moderate volumes of liquids and bulk materials. These IBCs strike a perfect balance between capacity and ease of handling. As a result, they remain popular among end users.
Chemicals Segment to Hold a Prominent Share through 2033
Growth Outlook by Key End Use
End Use
Value CAGR
Chemicals
2.0%
Paints, Inks & Dyes
3.4%
Building & Construction
4.2%
As per the latest stainless steel IBC industry analysis, the chemical business domain remains the leading end user of stainless steel IBCs in the United States. This is due to rising need for sustainable, reusable, and corrosion-resistant packaging solutions in the thriving chemical business domain.
The chemicals segment is projected to dominate the United States stainless steel IBC space, with a share of around 51% in 2023. The target segment is poised to exhibit a CAGR of 2.0%, reaching around US$ 117.2 million by 2033.
The chemical business domain is responsible for over a quarter of the United States GDP. It supports the production of almost all commercial and household goods and is essential to economic growth.
The United States chemical business domain is a US$ 768 billion enterprises that supports more than 25% of its GDP. It is one of the world’s leading chemical producers, with around 15% of its chemicals coming from the United States.
The expansion of chemical business domain in the United States is set to uplift demand for chemical grade IBCs like stainless steel IBCs, including flexible intermediate bulk containers (FIBCs). These packaging solutions are often used to store and transport chemicals.
Glimpse of Competition Scenario Molding United States Stainless Steel IBC Space
The United States, a dominant country for packaging, observes a state-wide diversity in packaging trends and customer behavioral patterns. United States-based packaging companies are primarily focused on improving the end-user experience.
Prominent stainless steel IBC companies in this space include Glatt GmbH, Snyder Industries, SCHÄFER Werke GmbH, Hanningfield, Custom Metal Craft Inc, and THIELMANN - The Container Company.
The technology roadmap for Intermediate Bulk Containers (IBCs) in the United States is focused on improving the design, manufacturing processes, and materials used in IBCs. Few of the key technological advancements that are expected to shape the future of IBCs in United States include,
Advanced manufacturing techniques: The production of IBCs can be made more efficient, with shorter lead times, and at a lower cost by implementing innovative manufacturing techniques like automation, 3D printing, and robotics.
Smart IBCs: Sensors, RFID, and IoT-enabled smart IBCs can allow real-time monitoring of the contents, location, and other crucial IBC data. This can increase operational effectiveness, lower the risk of product contamination, and improve supply chain visibility.
Customization: IBCs' usability and effectiveness can be increased by customizing them to meet particular customer requirements. This may entail changing the IBCs' dimensions, form, and style.
Testing and certification: The creation of IBC testing and certification standards can enhance their performance and safety while lowering the possibility of accidents and enhancing regulatory compliance.
Overall, the technology roadmap for IBCs in the United States is focused on innovation, sustainability, and customization. Manufacturers need to invest in research and development, adopt advanced manufacturing techniques, and collaborate with customers and suppliers to develop new and innovative IBC solutions that meet the changing needs of the sales environment.
Recent Developments in the United States Stainless Steel IBC Space-
In November 2021, Precision IBC, a prominent supplier of stainless steel and poly IBC acquired Metano IBC Services.
In March 2018, Mauser USA, LLC acquired Colonial Group’s IBC manufacturing assets to expand its North American IBC footprint.
Scope of the United States Stainless Steel IBC Space
Attribute
Details
Estimated Value (2023)
US$ 187.9 million
Projected Value (2033)
US$ 239.4 million
Anticipated Growth Rate (2023 to 2033)
2.5% CAGR
Historical Data
2018 to 2022
Forecast Period
2023 to 2033
Quantitative Units
Revenue in US$ Million, Volume in Units and CAGR from 2023 to 2033
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
