NEW YORK, United States, June 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Flexible Intermediate Bulk Container Market 2023 – 2030” in its research database. According to the latest research study, the global flexible intermediate bulk container market size was worth at approximately USD 5.14 billion in 2022. The market is expected to grow above a CAGR of 6.75% and is anticipated to reach over USD 8.67 billion by 2030.
The report analyzes the global flexible intermediate bulk container market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the flexible intermediate bulk container industry.
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Flexible Intermediate Bulk Container Market Overview:
The flexible intermediate bulk container industry refers to the market for the production, buying, and selling of flexible intermediate bulk containers (FIBCs) which are large, flexible containers used for the transportation or storage of bulk materials. The bags made of flexible woven polypropylene fabric have a typical load-carrying capacity of 500 to 5,000 kilograms but it can range more than the average. The market for FIBCs is influenced by factors such as industrialization, infrastructure development, trade activities, and specific industry requirements. The industry is highly competitive housing numerous manufacturers and suppliers operating on a regional or international scale.
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Key Insights from Primary Research
- As per the analysis, the flexible intermediate bulk container market is likely to grow above a CAGR of around 6.75% between 2023 and 2030.
- The flexible intermediate bulk container market size was worth around US$ 5.14 billion in 2022 and is estimated to hit approximately US$ 8.67 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The flexible intermediate bulk container market is projected to grow at a significant rate due to the high cost-effectiveness of FIBCs over traditional containers.
- Based on end-user segmentation, construction was predicted to show maximum market share in the year 2022
- Based on type segmentation, type A was the leading variant in 2022
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022
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Market Dynamics: Industry Growth Drivers
- Demand for bulk packaging drives the global FIBC market
The global flexible intermediate bulk container market is driven due to the increasing demand for bulk packaging. Several industries such as agriculture, chemicals, mining, and construction are witnessing growing requirements for the storage and transportation of bulk materials and FIBCs provide a convenient and efficient solution. The benefits of using FIBCs packaging solution also lie in easy handling and transportation since the presence of lifting loops or straps allows for efficient loading and unloading using machinery such as forklifts or cranes.
It is easy to stack FIBCs which contributes to the maximization of storage space and improvements in logistical efficiency. Growing awareness around environmental sustainability has contributed equally to the rising adoption of flexible intermediate bulk containers as they are considered to be environmentally friendly when compared to traditional packaging materials. They are reusable and can be recycled which assists in reducing waste thus diminishing the environmental impact of packaging.
Restraints
- FIBCs' limitations in handling hazardous materials impede expansion in the global industry
The global flexible intermediate bulk container industry also deals with certain growth restrictions, especially in the limitations of FIBCs in terms of handling certain hazardous materials. Some chemicals may demand specialized packaging or containment solutions and FIBCs may not be suitable under such circumstances. Although these containers are designed to be durable, the intensity is limited in certain applications. Some industries may need packaging solutions that can withstand harsh temperatures and mechanical stress. In such cases, FIBCs may not offer the required level of protection
Opportunities & Challenges
The rising applications in the e-commerce sector may provide growth opportunities while the growing cases of counterfeit products could challenge market expansion.
Competitive Players:
The report contains qualitative and quantitative research on the global Flexible Intermediate Bulk Container Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Flexible Intermediate Bulk Container market include;
- Berry Global Inc.
- Global-Pak Inc.
- AmeriGlobe LLC
- BAG Corp.
- Conitex Sonoco
- Bulk Handling Australia Group
- Greif Inc.
- LC Packaging
- Rishi FIBC Solutions Pvt. Ltd.
- Halsted Corporation
- Flexipol Packaging Limited
- RDA Bulk Packaging Ltd.
- Emmbi Industries Limited
- Sackmaker J&HM Dickson Ltd.
- Midwestern Bag & Supply
- United Bags Inc.
- Plastipak Group
- Intertape Polymer Group
- Thrace Group
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Segmentation Analysis:
The global flexible intermediate bulk container market is segmented based on end-user, type, and region.
By End-User
- Textiles
- Pharmaceuticals
- Textiles
- Food
- Oil & Gas
- Construction
- Others
Based on end-user, the global market segments are textiles, pharmaceuticals, textiles, oil & gas, food, construction, and others. The highest growth was observed in the construction sector in 2022 due to higher demand for flexible transportation and storage solutions. Construction products such as sand, gravel, cement, and aggregates can be easily stored and transported using FIBCs. With the growth in industrialization rate along with rising urbanization, the global construction market has witnessed surging revenue in the last few years, especially driven due to continuous infrastructure development projects in developing nations. The Indian construction industry is projected to reach USD 1.4 trillion by 2025. The applications of FIBCs in other industries such as textiles and pharmaceuticals have also been consistent. In the former segment, it is used for the storage and transport of fibers, yarns, and fabrics.
By Type
- Type A
- Type B
- Type C
- Type D
Based on type, the global market segments are type A, type, B, type C, and type D. The flexible intermediate bulk container industry growth was led by the type A segment in 2022. These variants of FIBCs are made using non-conductive fabric. They do not provide any electrostatic protection and hence are more suitable for non-flammable materials that do not possess any risk of igniting explosively. They are typically used for non-hazardous materials. Type B, on the other hand, have undergone certain antistatic treatments but they do not guarantee a high level of electrostatic safety. They can be used for flammable materials but items that pose a risk of explosion should not be stored in this type. The C variant provides a controlled path for static electricity to be safely discharged through the grounding system. Type D is specifically designed to reduce the risk of incendiary sparks and brush discharges. FIBCs have a loading capacity of 0.5 to 2 metric tons.
Regional Analysis:
Asia-Pacific: The global flexible intermediate bulk container market is expected to witness the highest growth in Asia-Pacific driven by the increasing investments in infrastructure projects by Asian countries such as Japan, China, India, Singapore, and others. Additionally, the region has a high number of manufacturers and suppliers that have undertaken massive projects internationally for better reach. The agriculture sector of India and China is one of the largest contributors to regional growth.
North America: With established industries such as chemicals, agriculture, food processing, and construction, demand for FIBCs in North America has surged to new levels. The e-commerce industry's growth and increasing demand for efficient bulk packaging solutions are also crucial to the regional economy. Latin America exhibits opportunities and potential for the FIBC market.
Industry segmented by following Regions:
- North America (The U.S., Canada)
- Europe (France, The UK, Spain, Germany, Italy, Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, Rest of Southeast Asia)
- The Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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Recent Industry Developments:
- In December 2022, New Water Capital (NWC) announced the acquisition of Bulk Lift International LLC along with Bagwell Supply Ltd. Thus, marking its investment in the FIBC sector
- In July 2020, TriEnda, a North American industrial thermoforming company announced the launch of a new FIBC solution called Bulk Bag Pallet and is specifically developed for the safe shipping of bulk goods
Key questions answered in this report:
- What is the market size and growth rate forecast for Flexible Intermediate Bulk Container industry?
- What are the main driving factors propelling the Flexible Intermediate Bulk Container Market forward?
- What are the leading companies in the Flexible Intermediate Bulk Container Industry?
- What segments does the Flexible Intermediate Bulk Container Market cover?
- How can I receive a free copy of the Flexible Intermediate Bulk Container Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 5.14 Billion |
| Market Forecast in 2030 | USD 8.67 Billion |
| Growth Rate | CAGR of 6.75% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Berry Global Inc., Global-Pak Inc., AmeriGlobe LLC, BAG Corp., Conitex Sonoco, Bulk Handling Australia Group, Greif Inc., LC Packaging, Rishi FIBC Solutions Pvt. Ltd., Halsted Corporation, Flexipol Packaging Limited, RDA Bulk Packaging Ltd., Emmbi Industries Limited, Sackmaker J&HM Dickson Ltd., Midwestern Bag & Supply, United Bags Inc., Plastipak Group, Intertape Polymer Group, Thrace Group, Mondi Group, Langston Companies Inc., Bag Supplies Canada Ltd., Yantai Haiwan Plastic Products Co Ltd., MiniBulk Inc., and Jumbo Bag Corporation. |
| Segments Covered | By End-User, By Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2023-2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by segmental analysis, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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