Octabins are environment friendly packaging solutions for heavy goods such as powdered, granular and small free flowing products such as PET-preforms and closures. They are made of heavy duty corrugated packaging boards and may be customized as per client needs. Octabins are favored due to their ability to withstand even some of the highest loads, easy storage, lightweight material, reduced load weight, shipping costs and carbon emissions. Their customizability ensures that their ability to withstand greater loads can be increased by a simple addition of an inner layer for increased endurance. In addition to that, octabins reduce transportation costs as they are delivered flat, and post-use, can be easily disposed of and are 100% recyclable. In an environment where governments emphasize on usage of environment friendly solutions, Octabins provide the most apposite choice for heavy goods transportation, and therefore has a higher preference.
Global Octabins market: Dynamics
Global packaging market has transformed over the years, creating an absolute need for introduction of a variety of package shapes and designs to better suit the ever changing variety of goods available in the market. The global octabins market is poised to grow over the forecast period, driven directly by the increase in demand for heavy goods transit and storage across the globe. Octabins are preferred owing to certain qualities like more weight per volume shipped, reduced cost compared to traditional container types, convenience in handling, ease of stacking and bulk resistance. These factors are expected to drive the global octabins market. Another factor that contributes to their preference is their ability to withstand the entire supply chain, reducing overall costs. Despite all the benefits provided by octabins, other forms of corrugated bulk packaging might act as a hindrance to the growth of the global octabins market. These other forms of corrugated packaging may include other pallet box types such as PowerPly heavy duty cardboard boxes, which are strong triple–walled boxes suitable for worldwide double-stacked shipment, very similar to octabins, but with four sides instead of eight.
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Global Octabins market: Segmentation
The global octabins market is segmented as follows: -
On the basis of end use:
- Food industry
- Consumer Goods
- Chemical industry
On the basis of product type:
- Standard octabins
- Base discharge octabins
- Self-assembly octabins
- Telescopic octabins
- Free flow base octabins
On the basis of capacity:
- Standard (Standard dimensions may vary with the company)
On the basis of applications:
Global Octabins market: Geographical and Competitive dynamics
Global octabins market has been segmented in seven regions:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa
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Being a mature market with a large volume goods and logistics in bulk, North America leads the charge in the global octabins market, followed by the Asia Pacific region. The volume of the Asia Pacific region is expected to increase significantly over the forecast period. Economic boom in the Asia Pacific region is expected to transform the logistics sector. The rapid development of economies of countries like China and India shoe very little sign any slow-down. This, combined with increasing integration between these countries in terms of has enabled manufacturers to free trade, has enabled manufacturers to be offered better prospects and investment returns and has resulted in increased focus of investors on Asia Pacific region, especially BRICS countries. Increased volume of trade is expected to directly impact the global octabins market. Latin America is also expected to register decent growth in octabins volume over the forecast period. Eastern and Western Europe currently have a strong market share owing to high trade volume, which is expected to remain rather dormant as the focus shifts toward emerging economies.
Some of the key players in the global octabins market are – DS Smith Plc, The Smurfit Kappa Group, Mondi Plc, Quadwall, BASF SE etc
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