Octabins are octagonal-shaped cardboard containers with channels for drainage that are used to transport heavy items in bulk. Its capacity to bear intense internal pressure and superior stacking resistance are this product's key strengths. The employment of these cutting-edge packaging techniques in the industrial setting that comply with safety regulations has been encouraged by growing interest in sustainable living. The light weight, low cost, and portability of octabins are further characteristics that will promote the rise of these containers during the course of the projected period.
As emerging nations place more emphasis on their agricultural industries to boost production, this will result in the export of goods, directly boosting the use of octabins. Additionally, the fact that these containers are made expressly for shipping bulk goods aids in making the most of the available space and minimizing the weight, which lowers the cost of both labor and shipping. On top of that, the producers provide customers the choice to enhance their items, which helps the product sell more.
According to Business Research Insights, the global Octabins market size was valued at USD 397.1 million in 2022 and is projected to reach a valuation of USD 581.4 million by 2028 with a CAGR of 6.6%. The market has leading players;
- Dow Chemical Company (U.S.)
- DS Smith Packaging (U.K.)
- Mondi Group (South Africa)
- Smurfit Kappa (Ireland)
- BASF (Germany)
- Basalte (Belgium)
- Quadwall (U.K.)
- Payper, S.A. (Spain)
- Eredi Calmi (Italy)
Leading rivals in the octabins include BASF, DS Smith Packaging, Mondi Group, Smurfit Kappa, and Dow Chemical Company. These firms are implementing a variety of techniques to increase their market share. R&D expenditures and the introduction of novel, cutting-edge items to the market are examples of this. In order to expand their client and geographic bases, these businesses are also putting methods such as mergers, collaborations, and acquisitions into practice.
Business Research Insights States Top 5 Octabins Manufacturers-
- Dow Chemical Company (U.S.)
The Dow Chemical Company, or more formally Dow Inc., is an American global corporation with its corporate headquarters in Midland, Michigan. The business is one of the top three chemical producers in the world. It has operations in around 160 countries and employs about 37,800 people globally. The corporation Dow has earned the moniker "chemical companies' chemical company" due to the fact that it sells to other sectors of the economy rather than to final consumers directly. The American Chemistry Council counts Dow as a member.
- DS Smith Packaging (U.K.)
A worldwide packaging company with its main office in London, England is called DS Smith plc. It is a part of the FTSE 100 Index and is traded on the London Stock Exchange. With recycling and papermaking facilities, DS Smith is a market leader in sustainable fiber-based packaging in Europe and the US. The company, which has locations in 37 nations, makes packaging that is entirely recyclable.
- Mondi Group (South Africa)
Approximately 21,000 people are employed by Mondi plc, a global packaging and paper company with locations in more than 30 countries and 100 production facilities, mostly in Europe, Russia, North America, and South Africa. Weybridge, England and Vienna, Austria each house a group office. Mondi is completely integrated throughout the whole packaging and paper value chain, from the production of pulp and paper (including packaging paper and uncoated fine paper) and the growth of wood, to the transformation of wrapping papers into curved packaging, commercial bags, extrusion finishes, and release liners.
- Smurfit Kappa (Ireland)
One of the top paper-based packaging firms in the world and the top corrugated packaging company in Europe are both The Smurfit Kappa Group plc. A network of paper, recycling, and forestry businesses support the company's speciality in producing paper-based packaging. It is an integrated manufacturer that uses its own paper mills to supply packaging companies with the majority of their raw material needs. For the mills' use, recovered fiber and wood are sourced through a combination of forestry and reclamation projects as well as third-party purchases. 35 countries—22 in Europe and 13 in the Americas—are served by it. With regional offices in Miami and Amsterdam as well as its Dublin global headquarters.
- Payper, S.A. (Spain)
In 1973, payper was founded in Lleida (Catalonia, Spain). The business was a pioneer in Spain and has always focused on designing and producing equipment for weighting, bagging, and palletizing procedures. Currently, they are among the biggest in Europe and the top manufacturer in the Spanish bagging sector. For all kinds of bulk solids, including powders and granules, Payper designs and manufactures bagging equipment. Palletizers and entire lines are other crucial product categories.
Product Sales to Increase Due to Increased Demand for Octabins from the Food Industry
Manufacturers have been forced to improve their products to reduce waste during the loading and unloading procedures as a result of increased demand for environmentally friendly, sustainable packaging and storage facilities. Additionally, the companies have made investments in base discharge and free flow base octabins to reduce waste in order to take advantage of customization. The rise of the product has also been aided by the most recent trend in the food industry, which favors large metal crates for the storage of food products.