Plastic Industrial Packaging Market : Time Technoplast Limited to Dominate the Asia-Pacific Market

Global industrial plastic packaging market is estimated to be valued at US$ 37.9 billion in 2018 and is expected to expand at a CAGR value of 4.1% to reach US$ 44.5 billion by the end of 2022.

Demand for industrial plastic packaging is expected to grow significantly in the emerging countries of Asia-Pacific and Latin America region due to growing support of government authorities to develop robust self-manufacturing capabilities. Leading companies in the global industrial plastic packaging market are planning to establish their presence in these markets through mergers and acquisition strategy. The market has performed extraordinarily well in the last ten years due to high growth in its major end use industries i.e. chemicals and pharmaceuticals.

The global industrial plastic packaging market is segmented on the basis of material type, product type, end use industry, packaging type, and region.

Among the product types, IBC’s segment is estimated to account for more than 15% market share in the global industrial plastic packaging market. IBC’s are extensively used for the bulk storage of solid and liquid products in different end use industries. It is the most effective packaging solution to protect products during shipping and transportation.

Asia-Pacific dominates the global industrial plastic packaging market with the market value share of 34% in 2018. The demand for industrial plastic packaging products has increased dramatically in the last few years. Increase in number of manufacturing lines in the China and India reflect that the market is moving towards fragmentation and the large proportion of demand will be met by local producers. Despite the fact that new players in the Asia-Pacific plastic industrial packaging market will gain strong foothold in the coming years. It is no doubt that few companies such as Time Technoplast Limited and Mauser Group will continue to dominate Asia-Pacific Plastic Industrial Packaging Market, throughout the forecast period.

Time Technoplast Limited: Company Overview:

  • Time Technoplast Ltd. is a manufacturer and supplier of a wide variety of industrial packaging solutions such as IBC’s, drums, containers, jerry cans, and pails among others.

  • The company operates 30 production facilities which are strategically located across the globe. Among them, nineteen production facilities are located in India alone.

  • Time Technoplast Ltd. has strong presence in the India, UAE, Egypt, Bahrain, Thailand, Vietnam, Malaysia, Indonesia, and Taiwan.

  • Time Technoplast Ltd. is a diversified company and also engaged in the manufacturing of lifestyle products, automotive components, healthcare products, infrastructure & construction related products, composite cylinders, and material handling solutions.

  • The company has eight regional and marketing offices to cater to the growing demand of consumers based in India.

  • It has strong distribution network spread over 345 towns and cities and long-term engagement with more than 500 institutional clients.

  • Time Technoplast Ltd. operates its businesses through more than fourteen brands which includes techpack, durogel, duroturf, maxlife, techdat, durocomfort, among others.

Time Technoplast Limited: Business Overview:

  • The company operates its industrial drums business through brand name ‘Tech Pack’. It offers drums having capacity from 5 litres to 250 litres. The company has fifteen manufacturing facilities in India and ten manufacturing facilities overseas for the production of industrial drums.

  • Time Technoplast Ltd. serves more than 900 institutional clients through its industrial drums business.

  • It manufactures more than 9,20,000 units of IBCs every year. There are significant opportunities for the company to expand its market presence in this segment due to significant growth in demand for IBC in Asia as well as in Global market. In terms of volume, the global market for IBCs stood at 10.8 million units. The company primarily sells its IBCs to its clients in petrochemicals, food, and solvents industry

  • However, the company enjoys leading position in the global polymer drums market. Some of the other players in the industrial drums market are Mauser Group, Schutz, and Grief.

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Key players covered in the "Global Plastic Industrial Packaging Market" research report are:

  • Grief Inc.

  • Mauser Group

  • Bemis Company Inc. (U.S.)

  • Cospak Pty Ltd

  • Sigma Plastics Group

  • Wuxi Sifang Drums Limited Company

  • Three Rivers Packaging

  • Gem Plastics

  • Carrick-James G & Co.

  • FDL Group

  • Schuetz Container Systems

  • RPC Group

  • Werit UK

  • The Polycube Company LLC

  • U.S. Coexcell, Inc.

  • Plastik SI d.o.o.

  • Hood Packaging Inc.

  • Janus Vaten B.V.

  • Time Technoloplast Ltd.

  • Nampak Ltd.

  • SOTRALENTZ Packaging S.A.S.

  • Pact Group (VIP Packaging)

  • SCHUTZ GmbH & Co. KGaA

  • Deren Ambalaj

  • Ebullient Packaging

  • Schoeller Allibert Holding B.V.

To request full market research study on:

  • "Global Industrial Packaging Market"

  • "Global Plastic Industrial Packaging Market"

  • "Global IBCs Market"

  • "Global Plastic Drums Market"

  • "Global Steel Drums Market"

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