1 Introduction of Stainless Steel IBC Applications
Stainless steel IBC is a container tool for the packaging, storage and transport of liquids, particles and solids. Its unique properties and superior performance can be applied to a number of industries, including industrial chemicals, petroleum and petrochemicals, food and beverages, coatings and paints, pharmaceuticals, and more.
2 Global Stainless Steel IBC Market Consumption by Application
From 2018 to 2023, the consumption of stainless steel IBCs in the “industrial chemicals” sector saw a significant increase from 64.15 K units to 86.58 K units. The “petroleum and petrochemical” consumption increased from 21.71 K units to 25.45 K units. The “food and beverages” sector also experienced growth, rising from 44.14 K units to 59.05 K units. The “coating and paint” consumption increased from 29.52 K units to 36.26 K units, while “pharmaceutical” use grew from 9.60 K units to 14.55 K units. The “others” category showed an upward trend from 20.40 K units to 24.59 K units. The total consumption of stainless steel IBCs across all applications increased from 189.52 K units in 2018 to 246.46 K units in 2023.
Comparing the applications, “industrial chemicals” consistently had the highest consumption of stainless steel IBCs, with a peak of 86.58 K units in 2023, indicating a strong demand in this sector. The “food and beverages” was the second largest consumer, reaching 59.05 K units in the same year. The “coating and paint” and “petroleum and petrochemical” had moderate consumption levels, with 36.26 K units and 25.45 K units respectively. The “pharmaceutical” had the lowest consumption among the listed applications, with 14.55 K units in 2023.
Table Global Stainless Steel IBC Consumption (K Units) by Application (2018-2023)
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
Industrial Chemicals |
64.15 |
71.06 |
66.42 |
73.16 |
78.88 |
86.58 |
|
Petroleum and Petrochemical |
21.71 |
23.56 |
21.18 |
22.66 |
23.79 |
25.45 |
|
Food and Beverages |
44.14 |
48.82 |
45.91 |
50.08 |
53.84 |
59.05 |
|
Coating and Paint |
29.52 |
32.16 |
29.52 |
31.81 |
33.67 |
36.26 |
|
Pharmaceutical |
9.60 |
10.55 |
11.50 |
12.54 |
13.40 |
14.55 |
|
Others |
20.40 |
22.12 |
20.45 |
21.74 |
23.12 |
24.59 |
|
Total |
189.52 |
208.26 |
194.97 |
212.00 |
226.69 |
246.46 |
3 Global Stainless Steel IBC Market Consumption Share by Application
In 2023, the “industrial chemicals” sector had the largest market share of stainless steel IBC consumption, accounting for 35.13% of the total market. This was followed by “food and beverages” with a market share of 23.96%, and “coating and paint” with 14.71%. The “petroleum and petrochemical” sector held a market share of 10.32%, while “pharmaceutical” had a smaller share at 5.90%. The “others” category accounted for 9.98% of the market. “Industrial chemicals” is the dominant application for stainless steel IBCs, with a significant lead over the other sectors.
Figure Global Stainless Steel IBC Consumption Market Share by Application (2018-2023)
4 Global Stainless Steel IBC Market Value Forecast by Application
From 2023 to 2028, the “industrial chemicals” sector is forecasted to experience the most significant growth, increasing from 137.42 M USD to 202.88 M USD. The ” petroleum and petrochemical ” sector is expected to rise from 44.66 M USD to 60.33 M USD. The “food and beverages” sector is also expected to grow substantially, rising from 83.01 M USD to 123.57 M USD. “Coating and Paint” consumption is projected to increase from 54.36 M USD to 76.06 M USD. The “pharmaceutical” sector, although starting from a lower base, is forecasted to grow from 24.16 M USD to 34.61 M USD. The “others” category is expected to see a rise from 38.34 M USD to 51.36 M USD. Overall, the total consumption of stainless steel IBCs is anticipated to rise from 381.95 M USD in 2023 to 548.81 M USD in 2028, indicating a strong upward trend across all applications.
Table Global Stainless Steel IBC Market Value Forecast by Application (2023-2028)
|
|
2023 |
2024 |
2025 |
2026 |
2027 |
2028 |
|
Industrial Chemicals |
137.42 |
150.04 |
162.40 |
175.75 |
188.88 |
202.88 |
|
Petroleum and Petrochemical |
44.66 |
47.78 |
50.77 |
53.78 |
57.17 |
60.33 |
|
Food and Beverages |
83.01 |
90.21 |
98.02 |
105.60 |
114.15 |
123.57 |
|
Coating and Paint |
54.36 |
58.38 |
62.35 |
66.91 |
71.43 |
76.06 |
|
Pharmaceutical |
24.16 |
26.12 |
28.02 |
30.12 |
32.31 |
34.61 |
|
Others |
38.34 |
40.42 |
42.70 |
45.28 |
48.40 |
51.36 |
|
Total |
381.95 |
412.94 |
444.28 |
477.44 |
512.34 |
548.81 |
5 Comparative Analysis of Future Forecasts for Industrial Chemicals and Food and Beverages in Downstream Industries
From 2023 to 2028, the “industrial chemicals” sector is projected to grow from 86.58 K units to 130.20 K units, indicating a strong and consistent increase in demand. The “food and beverages” sector is also expected to rise significantly, from 59.05 K units in 2023 to 89.20 K units in 2028. Comparing the two, while both sectors show robust growth, “industrial chemicals” starts with a higher volume and maintains a larger market size throughout the forecast period, suggesting it is a more dominant application for stainless steel IBCs compared to “food and beverages”. However, the “food and beverages” sector’s growth rate is noteworthy, as it nearly catches up to the “industrial chemicals” sector by 2028, highlighting its increasing importance in the market.
Table Global Market Volume (K Units) Forecast by Application (2023-2028)
| 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
| Industrial Chemicals | 86.58 | 94.85 | 103.16 | 111.94 | 120.83 | 130.20 |
| Petroleum and Petrochemical | 25.45 | 27.27 | 29.07 | 30.81 | 32.85 | 34.70 |
| Food and Beverages | 59.05 | 64.34 | 70.18 | 75.78 | 82.22 | 89.20 |
| Coating and Paint | 36.26 | 39.07 | 41.93 | 45.12 | 48.38 | 51.69 |
| Pharmaceutical | 14.55 | 15.78 | 17.00 | 18.32 | 19.74 | 21.21 |
| Others | 24.59 | 25.99 | 27.59 | 29.32 | 31.48 | 33.50 |
| Total | 246.46 | 267.29 | 288.94 | 311.30 | 335.49 | 360.50 |
