Growth above 9.5 percent annually anticipated
A new report from Zion Research predicts strong growth moving forward for bulk containers. Global demand for bulk container packaging market was valued at USD 2427.00 million in 2014, and will climb to USD 5035.00 million by the end of 2022. CAGR will grow slightly above 9.5 percent between 2015 and 2022.
The bulk container packaging market is mainly driven by high operational performance and cost efficiency offered by flexitanks. Rising exports of wine from Europe and vegetable oil from Southeast Asia is expected to fuel the bulk container packaging market in the near future. However, the volatility in prices of polypropylene and polyethylene may pose a challenge to the market growth in the near future. Moreover, the rising commodity trade in BRICS nations is projected to open new growth opportunities for bulk container packaging in the years ahead.
Market led be FIBC and liner products, chemical and food/beverage applications, pharma sluggish
The bulk container packaging market segments include flexitanks, flexible intermediate bulk containers (FIBC) and bulk container liners. In 2014, the FIBC product was the largest segment in term of revenue. This segment is expected to continue its dominance in the global market throughout the forecast period. Bulk container liners accounted for around 32 percent of the overall market in 2014.
>Various bulk container packaging applications include food & beverage, chemical, pharmaceutical and others. In terms of revenue, chemical was the leading segment, accounting for 47 percent of the market in 2014. Next in importance was food & beverage. Pharmaceutical is expected to witness grow at a sluggish rate in the near future.
Bulk container categories
The report describes the bulk container as a reusable industrial container used for the transport and storage of chemicals, food and beverages, solvents, pharmaceuticals and others. This packaging group includes flexitank, flexible intermediate bulk container (FIBC) and bulk container liner products. These products are mainly used for bulk container packaging. Flexible intermediate bulk containers, made of woven polyethylene or polypropylene bags, are used for transporting dry, flowable products, such as plastic granules fertilizer, and sand.
The report is titled “Bulk Container Packaging (Flexitanks, FIBC and Bulk Container Liners) Market for Food & Beverages, Chemicals, Pharmaceuticals and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2022.” It is available from http://www.marketresearchstore.com/