Global Flexible Intermediate Bulk Container (FIBC) Market Overview
The global flexible intermediate bulk container (FIBCs) market size is expected to grow at a CAGR of 6% between 2020 and 2016. Flexible Intermediate Bulk Container (FIBC) is a large, flexible, cube-shaped packaging material made of fabric woven in a particular manner to provide strength. FIBC is also popularly known as a bulk bag, big bag, and tote. The market is primarily driven by growing food and pharmaceutical industries globally, rising need to decrease the overall weight of bulk packaging, and expanding manufacturing and construction sector, especially in the Asia Pacific.
FIBCs are utilized in many end-use industries such as chemicals, pharmaceuticals, food, building and construction, mining, agriculture, and many more. The FIBC demand in the pharmaceutical sector is likely to grow rapidly due to the growing pharmaceutical industry globally. FIBC is mainly used to handle raw materials, semi-finished products, and finished products. FIBCs are manufactured of flexible woven polypropylene and can hold from 500 kg to 2,000 kg of weight. These containers are majorly used to store dry and flowable products such as seeds, salts, grains, sands, chemicals, cement, etc. FIBCs are readily available at low cost, have low weight, and are easy to handle. Thus, FIBCs are broadly used in pharmaceuticals, agricultural, food & beverages, and chemical industries. Owing to the benefits mentioned above, the adoption rate in bulk packaging applications is significantly higher than the rigid and corrugated packaging.
FIBC’s are mostly manufactured using polypropylene (PP) or polyethylene (PE). The prices of these materials have a direct impact on the final product cost. PE or PP resins are manufactured from petrochemical derivatives. Prices of petrochemical derivatives are highly dependent on the price and supply of crude oil. Thus, volatility in raw material prices has been a major restraining factor for the growth of the bulk container packaging market.
The global FBIC market is categorized by the presence of both global and domestic players. Though, the market is highly fragmented, with a large number of players across the regions. Major players that rule in the industry are Global-Pak, Bag Corp, Isbir Sentetik, Greif, Plastipak Industrial Textiles, Berry Plastics, Bulk Lift International, Halsted, Jumbo Bag Limited, Langston Companies Inc., Rishi FIBC Solutions, Taihua Group, Intertape Polymer Group, and LC Packaging.
In this market research report, the market is segmented by product, end-use, and region.
Analysis by Product
The market is segmented into Type A, Type B, Type C, and Type D based on the product. Among these, type A dominated the product segment with a share of over 65% of the total revenue in 2019. Key driving factors boosting the demand for type A FIBCs are its lower costs than other product types and wide availability across the world. Further, the massive adoption of type A by end-use sectors such as chemical, food, pharmaceutical, chemical, and others is contributed to its highest share in product types segment.
Analysis by End-Use
On basis on end-use, the market is segmented into Food, Chemical, Pharmaceuticals and others. Food and chemical are considered as a key end-use industries for the global FIBC market. Stable growth rates of the global chemical and construction sectors are expected to favourably impact the global market. In the food industry, FIBCs are largely utilized in food processing application and to handle agricultural products. Growing food processing industry owing to rise in per capita income is expected to drive the market over the forecast period. Pharmaceutical segment is expected to grow at the rapid pace, in terms of both volume and revenue, over the forecast period.
Analysis by Region
The global Flexible intermediate bulk container (FIBC) market is analyzed across North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these, North America is dominating the market in terms of both volume and revenue, in 2019 on account of high FIBC adoption by the large-scale chemical and manufacturing industries. Further, the stable growth rates of food processing and agriculture markets in the region are expected to positively impact the demand during the forecast period.
Market Segmentation covered in the Report:
By End Use
- Type A
- Type B
- Type C
- Type D
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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