As per TMR’s estimations, the opportunity in the Mexico industrial bulk packaging market was to touch US$232.0 mn by 2016. Expanding further at a CAGR of 5.50% during the period from 2016 to 2024, the market is likely to attain a value of US$357 mn by the end of the forecast period.

The report further presents a comprehensive analysis of the Mexico industrial bulk packaging market on the basis of the products available in this market, which includes drums, intermediate bulk containers (IBCs), pails, and jerry cans. Drums have been enjoying a greater demand from the end users as compared to other products, which is likely to be continued at a CAGR of 4.90% over the forecast period. As manufacturers are increasingly shifting towards sustainable packaging solutions against plastic and steel materials, the uptake of fiber/paperboard drums is anticipated to rise considerably in the near future.

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The application areas of the industrial bulk packaging in Mexico, i.e., the chemicals and petrochemicals, food and beverages, and the pharmaceuticals sectors, have also been thoroughly assessed in this market study. According to it, the chemicals and petrochemicals sector have been acquired the top position among application areas in this market and is expected to continue like this over the period of the forecast, advancing at a CAGR of 5.20%.

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“The Mexico industrial bulk packaging market has driven significant impetus from the rising industrialization and the increased shipment of goods in this country,” states the author of this study. The industrial users in the country have been exhibiting an extraordinary demand for rigid industrial bulk packaging products, such as fiber, steel, and plastic drums, various industrial bulk packaging containers, pails, and jerry cans, resulting in a tremendous rise in this market.