Industrial Packaging Market to Reach a Market valuation of US$ 5,000 Mn towards 2024 End: Future Market Insights
*Market players are engaged in business strategies such as mergers & acquisitions to remain afloat during the crisis.*
*DUBAI, UAE / ACCESSWIRE / December 16, 2020 / *The MENA industrial packaging market is poised to record a CAGR of 5.7% over the projected period, 2016 to 2024. The growth is primarily attributed to enhancing situations in international trade. The focus in the MENA region has been in recent times switched towards non-oil based industrial activities since the long-term dependency on crude oil business is progressively fading.
"End-use industries such as rubber and plastics, automotive, agriculture and electronics are projected to reflect an incremental development in MENA region amid the forecast period. Thus, the demand for industrial packaging will be foreseeing a sharp rise leading to the market expansion." says an FMI analyst.
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*Key Highlights*
· Paper & paperboard-based packaging material will attain majority of the market share during the forecast period.
· Intermediate bulk containers (IBCs) packaging is slated to drive the demand for industrial packaging in MENA
· The chemicals & pharmaceuticals sector is projected to dominate the overall market.
· *North Africa and GCC are identified as the key markets that holds over 60% of overall market.*
*Drivers*
· *Extended use of bigger size and high value container is complementing the growth of the market.*
· *Increasing focus of non-oil economy by Middle Eastern governments is anticipated to benefit the market.*
· *Growing demand from *manufacturing sector owing to demand for convenient, lightweight and cost-effective industrial packaging solutions is catalyzing the market growth.
*Restraints*
· *Strict government rules and regulations might act as an obstacle in the MENA market.*
· *Growing awareness regarding the usage of synthetic plastics is harmful *for the environment* is impacting the market growth.*
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*COVID-19 Impact on the Market*
The COVID-19 pandemic has prompted some of the sharpest declines, recently in demand for certain sort of packaging whereas fast-tracking growth for others. The industrial packaging market in MENA witness sharp decline in sales owing to a decrease in industrial activities. At the same time, several categories-such as packaging for the pharmaceutical and food industries continues to foresee robust demand. FMI in its recent study opines that the market will regain its pre-crisis sales by the 2021 end or 2022 beginning.
*Competitive Landscape*
Industrial packaging market players are actively engaged on improving their product offerings. Several of the market players are changing their raw materials according to the shift of consumers towards convenience packaging.
Major companies identified in the MENA's market are Time Technoplast Ltd., International Paper, Mauser Group B.V, Balmer Lawrie & Co. Ltd., Grief, Inc., Gulf Plastic Industries Company, and Clouds Drums LLC.
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*About the Study*
The study offers readers a comprehensive assessment of the industrial packaging Market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of material type (metal, plastic, paper & wood and fibre), product type (sacks, drums, ibcs, crates, pails, bulk boxes, and others) packaging type (flexible and rigid), end use (chemicals & pharmaceuticals, food and beverage, building & construction, automotive, plastics & rubber, agriculture & horticulture, oil & lubricants, electronics, engineering, metal products, tobacco and others), cross region (GCC, North Africa, South Africa and Rest of MEA).
Table Of Content
*1. Executive Summary - Industrial Packaging Market*
*2. Assumptions & Acronyms Used*
*3. Research Methodology*
*4. Market Overview - Industrial Packaging Market*
4.1. Introduction
4.1.1. Industrial Packaging Market Definition
4.1.2. Industrial Packaging Market Taxonomy
4.2. Industrial Packaging Market Dynamics
4.2.1. Drivers
4.2.2. Macro-economic Factors Affecting Industrial Packaging Market
4.2.3. Restraints
4.2.4. Opportunities
4.3. Value and Supply Chain Analysis
4.4. Market Overview
4.4.1. Industry Chain
4.4.2. Profitability Margins
4.4.3. List of Active Participants
4.4.3.1. Raw Material Suppliers
4.4.3.2. Intermediate Products
4.4.3.3. Manufacturers
4.4.3.4. Distributors / Retailers
4.5. Pricing Analysis
4.5.1. Pricing Assumptions
4.5.2. Price Projections
4.6. Market Volume Analysis
4.6.1. Regional Production Outlook
4.6.2. Regional Consumption Outlook
4.6.3. Regional Production Vs. Consumption Outlook
4.7. Industrial Packaging Market Forecast, 2016-2024
4.7.1. Industrial Packaging MarketSize (Value) Forecast
4.7.1.1. Y-o-Y Growth Projections
4.7.1.2. Absolute $ Opportunity
4.8. Industrial Packaging Market Trends
4.9. Industrial Packaging Market Snapshot (2016)
4.9.1. Market Share By Material Type
4.9.2. Market Share By Product Type
4.9.3. Market Share By Packaging Type
4.9.4. Market Share By End Use
4.9.5. Market Share By Region
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*About Future Market Insights*
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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*Report: *https://www.futuremarketinsights.com/reports/mena-industrial-packaging-market
*Press Release Source:* https://www.futuremarketinsights.com/press-release/mena-industrial-packaging-market
*SOURCE: *Future Market Insights
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