It is expected that the value of the global flexible intermediate bulk containers market will increase to about 8.67 billion US dollars by the year 2030, with a compound annual growth rate (CAGR) of around 6.75% between the years 2023 and 2030. In the year 2022, the market was estimated to be worth roughly 5.14 billion USD.
Flexible Intermediate Bulk Container Market: Overview
The flexible intermediate bulk container is what’s meant to be referred to by the acronym FIBC. This kind of container is also known as a bulk bag, a giant bag, and a massive sack. All of these terms refer to the same thing. It’s a huge and versatile container that’s used for storing and transporting bulk commodities. Its main purpose is to do both. FIBCs find use in a wide range of industries, including as agriculture, the chemical industry, mining, the construction industry, and the food processing business, to name just a few. The vast majority of the time, they are constructed by employing woven polypropylene cloth, which is a material that is known for its remarkable sturdiness and durability.
Because of its high storage capacity, which can range from several thousand to several hundred thousand kilograms, FIBCs are an appealing option for the packaging, storing, or shipping of bulky commodities. its shape can be either rectangular or cubic. In spite of their unique designs, they are able to transport dry and flowable items. Some examples of dry commodities include powders, granules, flakes, and pellets. Also included in this category are materials that can flow. The key goals of the flexible intermediate bulk container industry are the design, production, and distribution of flexible intermediate bulk containers (FIBCs) to a range of end-user verticals. This sector is comprised of several different companies. It is projected that there will be a continuous expansion in the sector during the course of the time period covered by the projection.
Flexible Intermediate Bulk Container Market: Growth Drivers
It is essential to have the capability of driving market demand while also maintaining cheap expenses.
As a result of the fact that flexible intermediate bulk containers (FIBCs) are a more cost-effective alternative to conventional alternatives such as boxes and drums, it is projected that the market for flexible intermediate bulk containers would expand across the globe. When compared to the creation of FIBCs, the technique for the manufacturing of the substitution choices is more involved, and the materials that are needed to make them are typically more expensive. In addition, the price of the finished product might be significantly higher. For instance, iron or steel might be utilized instead. The fact that this is the case results in an increase in the overall costs that are incurred.
Flexible Intermediate Bulk Container Market: Segmentation
End-user, product type, and geographic region are the three major segments that make up the global market for flexible intermediate bulk containers.
The following industries are included in the list of end-user groups that contribute to the global market for flexible intermediate bulk containers: textiles, pharmaceuticals, food, oil and gas, construction, and others. The construction industry saw the greatest growth in 2022 as a direct result of a rise in the demand for flexible methods of transportation and storage. FIBCs are the containers of choice for warehousing and transporting aggregates, sand, gravel, cement, and other similar building materials. These containers are also ideal for other building materials. Over the past few years, there has been a significant increase in revenue across the global construction market, which can be primarily attributed to the continuation of infrastructure development projects in developing nations. This increase is attributable to the expanding industrialization as well as the urbanization of the population of the world. By the year 2025, it is expected that the value of the construction industry in India will amount to 1.4 trillion US dollars. FIBCs are also used extensively in a broad number of other industries, such as the textile and pharmaceutical industries, amongst others. It is put to use in the initial stages of the production process for the purpose of storing fibers, yarns, and fabrics as well as transporting them.
Flexible Intermediate Bulk Container Market: Regional Analysis
Asia-Pacific will dominate market growth.
Due to factors such as fast industrialization, population expansion, and increased trade activity, Asia-Pacific is expected to lead the global flexible intermediate bulk container market. Countries such as India, China, and other Southeastern nations are seeing significant growth in FIBC demand and application, owing to increased demand in end-user verticals. China, for example, has undertaken major infrastructure development projects not only within its own borders but also in neighbouring countries. China has already spent more than a trillion dollars to increase its influence in Asia. According to official figures, China has already spent more than USD 67 billion on the current Belt and Road Initiative. In addition, in order to preserve its position in the worldwide market, India has increased its production and supply of FIBCs.
Flexible Intermediate Bulk Container Market: Competitive Analysis
The global flexible intermediate bulk container market is led by players like:
Berry Global Inc.
Bulk Handling Australia Group
Rishi FIBC Solutions Pvt. Ltd.
Flexipol Packaging Limited
RDA Bulk Packaging Ltd.
Emmbi Industries Limited
Sackmaker J&HM Dickson Ltd.
Midwestern Bag & Supply
The global flexible intermediate bulk container market is segmented as follows:
Oil & Gas
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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