Smithers Pira – Industrial packaging industry to grow by 3.2% to 2022
UK • New analysis from Smithers Pira shows that the industrial printing market will grow steadily across 2017-2022, despite significant evolution of supply chains.
Exclusive data from the latest Smithers Pira market report “The Future of Industrial Packaging to 2022” projects worldwide industrial packaging sales will be worth USD 52.72 billion in 2017. This value is forecast to grow across the next five years at an annual rate of 3.2% to reach USD61.84 billion in 2022. The materials used to produce industrial packaging formats – sacks, IBCs, drums, crates/totes – are 14.56 million tonnes in 2017, this is forecast to grow at an annual rate of 2.7% across the same period to reach 16.62 million tonnes.
Consumption increases will continue to be driven primarily by the faster-growing transition economies of Asia, Central & Eastern Europe and Africa, rather than the more mature advanced economies of Western Europe, North America and Japan.
Sustainability is gaining traction in the industrial packaging market, with mounting public pressure on governments, brand owners and retailers to reduce the environmental impact of packaging. The industry is continuing to focus on reuse and reconditioning of industrial packaging, rather than downgauging to cut its carbon footprint.