“The worldwide market for flexible intermediate bulk containers has seen important growth rate”, says Visiongain
15 October 2019
Visiongain’s new report the Flexible Intermediate Bulk Container Market Report 2020-2030: Forecasts By Application (Pharmaceuticals, Food, Chemical, Fertilizers, Construction, Others.), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) and analysis of leading companies operating in this industry.
In latest years, the worldwide market for flexible intermediate bulk containers (FIBC) has seen important growth rate. The primary factor attributable to market growth is quickly growing demand across sector verticals for flexible intermediate bulk containers (FIBCs). During the forecast period, the increasing food & drink and pharmaceutical sectors are anticipated to boost the worldwide FIBC market. In addition, it is expected that the increasing need to decrease the general weight of bulk packaging will drive the worldwide FIBC market in the coming years, particularly in the construction industry.
Industrial containers, known as bulk bags, jumbo bags or large bags are the flexible intermediate bulk containers (FIBCs). These are made up of flexible woven material, typically polypropylene (PP), and possesses the capacity to hold 500-2,000 kg of weight. FIBC is used for containing products that are fluidized like grains, seeds, salts, powdered coatings, sands, clay, cement and other products. FIBCs are filled by a forklift mechanically in the industrial premises. FIBC is cheap, low weights and easy to handle.
The market is divided into drugs, food, chemicals, fertilizers, buildings and many others on the basis of end-user industries. The chemical industry holds the largest value share on the market, which is expected to grow during the forecast period in the highest CAGR segment. This is largely due to the rapid growth of the chemical industry in India, China, Brazil and South Africa, to name but a few, emerging countries.
Global-Pak, Flexi-tuff, Conitex Sonoco, Berry Plastics and LC Packaging are the major contributors to the global flexible intermediate bulk container market. The global market is very competitive but attractive, as several actors dominate the majority of the industry. The manufacturers focus on the use of organic raw materials and environmentally friendly plastics to make FIBCs. The rapid growth of this market in the coming years is anticipated to provide new entrants with high potential.
In North America, South América, the Middle East, and Africa, Europe and Asia-Pacific, the market can be divided geographically. The Americas, which includes both North America and South America, represented the world's largest market share of previous years and will continue to do the same in the years ahead. Increased demand of these food and pharmaceuticals products is the main factor responsible for the growth of the North American market.
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