Albany, NY -- (SBWIRE) -- 10/18/2018 -- The Mexico market for industrial bulk packaging has been expanding steadily for the last few years. The rise in industrialization and the increased shipment of goods in this country have driven a significant demand for industrial bulk packaging here. Boosted by this, this market was expected to reach US$232.0 mn by 2016.

Going forwards, the improving performance of the manufacturing sector and the rising industrial output are likely to reflect positively on the performance of the industrial bulk packaging market in Mexico over the forthcoming years. With a stable economic condition in the country, the market is anticipated to gain substantially from the rebounded performance of the chemicals sector, which is one of the prominent consumers of bulk industrial containers. Projected to rise at a CAGR of 5.50% between 2016 and 2024, the market is likely to reach a value of US$357 mn by the end of 2024.

Obtain Brochure For Latest Technology Advancements @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=21155

The manufacturers of industrial bulk packaging materials are leveraging their in-house research and development capabilities to innovate products that suit specific requirements. Along with this, the players are also emphasizing on the technological advancements of their current offerings to meet the exact requirements of customers. However, this is a difficult marketplace, where customer-specific needs are rarely communicated to product developers, which, to an extent, hampers the market's growth. Apart from this, the supply chain complexities are also creating manufacturing issues for producers, which is likely to hinder this market in the long run.

Obtain Report Details @ https://www.transparencymarketresearch.com/mexico-industrial-bulk-packaging-market.html

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%.

Request TOC @ https://www.transparencymarketresearch.com/report-toc/21155

For the packaging of chemicals and petrochemical products, manufacturers mostly prefer rigid IBCs and drums and are projected to register a strong demand for these products in the near future. The pharmaceuticals industry is also anticipated to report a significant demand for industrial bulk packaging materials over the next few years.