Returnable Transport Packaging (Rtp) Market Size to grow by USD 4507.5 million between 2024-2028
According to a research report “ Returnable Transport Packaging (Rtp) Market” by Product (Containers, Pallets, Drums and barrels, Others) Material (Plastic, Wood, Metal, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4507.5 million, at a CAGR of 8.8% during the forecast period. The Returnable Transport Packaging (RTP) market is experiencing significant growth due to the increasing demand for lightweight and cost-effective packaging solutions. In 2019, distribution costs as a percentage of global logistics expenses rose by approximately 3%. With the majority of transportation in developing APAC countries, such as India, occurring via road, the need for RTP products is escalating. These products, primarily manufactured from plastic materials, offer substantial savings through reduced transportation costs and space efficiency during transit. Furthermore, the long-term cost advantage of RTP products, with an average lifespan of 15 to 20 years, makes them a financially prudent choice for businesses..
Browse market data tables, figures, and in-depth TOC on “Returnable Transport Packaging (Rtp) Market” by Product (Containers, Pallets, Drums and barrels, Others) Material (Plastic, Wood, Metal, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Product, the Containers segment is projected to dominate the market size in 2024
The returnable transport packaging (RTP) market is primarily driven by the container segment, which holds the largest market share and is anticipated to maintain its dominance throughout the forecast period. This segment encompasses various product categories, including stack nest containers, reusable plastic crates, and bulk boxes, commonly utilized in retail warehouses, poultry farms, and other industries. The retail sector is the major consumer of these products within the container segment. However, the organized retail sector in APAC accounted for merely 19% of the market share in 2020, indicating substantial growth opportunities in this sector during the forecast period, as it is still in its growth phase.
By Material, Plastic segment is expected to hold the largest market size for the year 2024
In the realm of returnable transport packaging (RTP), plastic containers offer significant advantages, particularly for transporting delicate consumer goods, such as glass packages. These containers boast a long service life, high strength, and robust resistance to environmental impacts and dynamic stresses. Moreover, plastic packaging's versatility allows for various shapes and patterns, ensuring an optimal fit for diverse product dimensions. The rigidity of plastic containers enables efficient stacking in multiple tiers, minimizing storage space and eliminating the need for additional tools. Similarly, plastic pallets exhibit superior durability compared to their wooden counterparts, making them a preferred choice for RTP applications.
North America is forecasted to hold the largest market size by region in 2024
The Returnable Transport Packaging (RTP) market is a significant sector in the logistics industry, providing businesses with cost-effective and sustainable solutions for product transportation. RTP offers numerous benefits, including reduced damage during transit, improved supply chain efficiency, and reduced environmental impact through reusability. Companies are increasingly adopting RTP systems to optimize their supply chain operations and enhance their brand image as environmentally conscious organizations.
The Returnable Transport Packaging (Rtp) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Returnable Transport Packaging (RTP) market is experiencing significant growth in various end-use industries, particularly in the short term sectors like logistics and manufacturing industries of chemical, dyes, coatings, and paints. RTP, including containers, drums, plastic crates, layer pads, dunnage airbags, and other reusable packaging solutions, plays a crucial role in the safe and efficient transportation of hazardous materials. In the chemical sector, RTP is essential for ensuring compliance with logistic regulations and reducing single-use packaging waste. Eco-friendly and sustainable packaging solutions, such as lightweight and reusable containers, are gaining popularity due to their environmental benefits. Building & construction industries also benefit from RTP, with applications ranging from transporting heavy materials to providing protective dunnage during transit. RTP is not only cost-effective but also offers improved safety and security during transportation. For instance, dunnage airbags help prevent damage to fragile items, while plastic crates and drums provide a secure and leak-proof containment for hazardous materials. Overall, the RTP market is expected to continue its growth trajectory, driven by increasing demand from various end-use industries and the need for more sustainable and efficient packaging solutions.
Market Research Overview
The Returnable Transport Packaging (RTP) market, including PE drums, fiber drums, salvage drums, steel drums, and plastic drums, is witnessing significant growth in various end-use industries such as petrochemicals, oil & gas, and the chemical sector. The medium to long-term outlook for the RTP market is positive due to the growing infrastructure, modernization, changing lifestyles, and sustainability concerns. Sustainability is a key driver for the RTP market, with eco-friendly packaging and sustainable packaging gaining popularity. Lightweight packaging solutions, such as plastic drums and dunnage airbags, are increasingly being adopted to reduce carbon emissions and minimize single-use packaging waste. The global production process and supply chain are also undergoing modernization, with logistic regulations becoming stricter to ensure safe transportation of hazardous materials. The COVID-19 situation has accelerated this trend, with an increased focus on contactless delivery and efficient logistics. The RTP market includes various types of containers, such as barrels, drums, plastic crates, layer pads, and dunnage bags, used in industries like building & construction, manufacturing, and packaging. Valuation of the RTP market is expected to grow in the short term due to the increasing demand for containers in various end-use industries. In summary, the RTP market, including PE drums, fiber drums, salvage drums, steel drums, and plastic drums, is witnessing significant growth due to sustainability concerns, modernization, changing lifestyles, and logistic regulations. The market includes various types of containers, such as barrels, drums, plastic crates, layer pads, and dunnage bags, used in various industries, and is expected to grow in the medium to long term.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
