Spike in the Manufacturing Vertical to Drive MENA Industrial Packaging Market, Reaching US$ 6.3 Bn by the Year 2027 at a CAGR of 7% by the Forecast Period 2022-27

Newark, DE / AccessWire / December 5, 2022 / The MENA industrial packaging market is currently valued at US$ 4.5 Bn and is expected to reach US$ 6.3 Bn by the year 2027 at a CAGR of 7.0% between 2022 and 2027.

Manufacturers of IBCs and drums are constantly on their toes, especially after bulk transport demands. Advantages include cost-effectiveness. The steel drum provides impact resistance and resistance to corrosion.

Industrial bulk packaging has graduated from old design MS barrels to improved MS barrels with improvised time design drums. Also, the manufacturing vertical has grown threefold in the last few years. This has actually encouraged non-traditional verticals to use containers. They include food-grade ingredient manufacturers, bio-chemical manufacturers and so on. International trade is also expected to be positive in the next 5 years.

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It is a known fact that the MENA region is fundamentally focused on ‘oil and gas exploration’. Also, the obvious fact that oil comes as a finite resource cannot be ignored. New-fangled verticals need to be developed to address the dwindling control of oil and gas verticals.

Gulf countries are promoting eco-friendly lifestyles. Abu Dhabi has already banned the use of single-use plastic bags. The UAE will host the COP28 meeting in the year 2023. It has also released a circular economy policy that promises to help industries adopt eco-friendly manufacturing practices. Saudi Arabia has also decided to achieve net-zero emissions by 2060.

Future Market Insights has relayed these findings with a future perspective in its latest market study titled ‘MENA Industrial Packaging Market’. A team of analysts and consultants worked on micro and macro.

Key takeaways from May’s industrial packaging market

  • South Africa is expected to witness a CAGR of 5.9% in the MENA industrial packaging market. This can be credited to the IEA (International Energy Agency) claim that crude oil production has reached 448.0 TJ units in the year 2020 alone.

  • Saudi Arabia has more than 40% market share. Spending on food services is expected to grow by 6% per year between 2022 and 2027. The year 2021 saw food consumption of US$ 58.85 billion.

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Competitive spirit

  • Eviosys, in September 2021, launched a new-fangled company to deliver sustainable, smart packaging solutions. The newly formed company, better known as ‘KPS Capital Partners’, has acquired the EMEA food and consumer packaging business of Crown Holding Inc.

  • Pelletplast, in March 2021, has been declared the ‘Best End-Use Product’ by Petco – the PET plastics recycling group South Africa. This company has come up with fruit pellets from waste plastic products.

  • Comexi, in March 2022, entered into an agreement with Maiden Plastic Company with the aim of expanding into the Middle East. The company has actually chosen to enter the flexible packaging vertical with Comexy and Riefenhauser India Marketing Middle East and Africa (RIMPL MEA) to capture a significant portion of its market share. The Comexi F2 ML flexographic press, Riefenhauser extruder and Comexi ML2 Evolution laminator have been acquired by Maiden Plastics.

  • Huhtamaki, in September 2021, completed the acquisition of Alif to promote sustainability and talent across the Middle East, Europe and Africa.

“Flexible packaging business design sets trends in packaging by catalyzing flexibility, safety, durability and convenience,” says an analyst at Future Market Insights.

What’s in store in the report?

  • The research study is based on product (plastic pallets, drums, IBCs (totes), sacks, pails, crates, tubes, bulk boxes and so on), materials (metal industrial packaging, plastic industrial packaging, paper and paperboard industrial packaging, . and fiber and wood industrial packaging), by packaging (rigid industrial packaging and flexible industrial packaging), and end-use industries (agriculture, automotive, building and construction, chemical and pharma, engineering, food and beverages, metal products, oils and lubricants, Plastic and rubber, furniture, electronics, e-commerce, tobacco and so on.

  • Flexible industrial packaging (such as sacks) is likely to see high demand going forward, as it requires less storage space and is cost-effective. Thus, the MENA industrial packaging market is slated to grow well over the forecast period.

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MENA Industrial Packaging Market by Category

By Product:

  • Plastic pallets

  • drums

  • IBCs (Totes)

  • sacks

  • Payal

  • Crates

  • tubes

  • Bulk box

  • other

By content:

  • Metal industrial packaging

  • Plastic industrial packaging

  • Paper and paperboard industrial packaging

  • Fiber and Wood Industrial Packaging

By packaging:

By End Use Industry:

  • Agriculture

  • automotive

  • Construction of building

  • Chemical and Pharma

  • Engineering

  • Food and drinks

  • Metal products

  • Oils and Lubricants

  • Plastic and rubber

  • Furniture

  • Electronics

  • E-commerce

  • tobacco

  • other

View full report @ https://www.futuremarketinsights.com/reports/mena-industrial-packaging-market

Future Market Insights, Inc., Monday, December 5, 2022, Press Release Image

Mena Industrial Packaging Market

Table of Contents

1. Executive Summary

1.1. Mena Market Analysis

1.2. May Market Outlook

1.3. Analysis and recommendations

2. Market Overview

2.1. Market definition

2.2. Market coverage

3. Major market trends

3.1. Key trends affecting the market

3.2. Product innovation / development trends

4. Key success factors

4.1. Product adoption analysis

4.2. Product USP / Features

5. MENA Industrial Packaging Market Demand Analysis 2014-2021 and Forecast, 2022-2027

5.1. Historical Market Volume (Units) Analysis, 2014-2021

5.2. Current and Future Market Volume (Units) Estimates, 2022-2027

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About us:

Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. A recipient of the Clutch Leaders Award 2022 due to high client score (4.9/5), we are collaborating with global enterprises on their business transformation journey and helping them fulfill their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients in all leading and niche market segments across all major industries.

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Source: Future Market Insights, Inc.

See the source version at accesswire.com:
https://www.accesswire.com/730061/Spike-in-the-Manufacturing-Vertical-to-Drive-MENA-Industrial-Packaging-Market-Reaching-US-63-Bn-by-the-Year-2027- forecast-period-2022-27-future-market-insights-inc

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