Demand Scenario of Circular Industrial Bags Market to Remain Positive Through 2028
Global Circular Industrial Bags Market: An Overview
Circular industrial bags are a type of flexible intermediate bulk container (FIBC), these bags are made up of woven fabric on a circular loom. Circular industrial bags are also known as tubular bags. The tubular body design makes circular industrial bags an ideal alternative for storing fine and hygroscopic materials. Using circular industrial bags for transportation results in reduced weight of goods and materials when compared to other packaging solutions such as cartons or drums. Circular industrial bags are considered as one of the sturdiest industrial grade packaging bags, and extensively used to pack materials for powdered applications such as milling and sugar industry. Moreover, these bags are also used widely in animal feed packaging, chemicals and fertilizers industry along with construction industry for packaging of like sand, concrete, and metal parts. Circular industrial bags are available in both coated and uncoated fabric and can be equipped with valves for automatic filling.
Global Market: Dynamics
The global industrial packaging is growing at a CAGR of over 4% and is expected to reach US$ 80 Bn by the end of forecast period. This can be attributed to the demand generated by food, construction, and chemicals sector majorly. Circular industrial bags are gaining traction in the industrial bulk bags market owing to the ease of transport that they offer. Circular industrial bags can be transported without employing pallets which makes them convenient for bulk shipping. The demand for circular industrial bags is rising in the developing countries due to increased manufacturing activities which has led to a substantial increase in export and import activities. Furthermore, circular industrial bags are can be used multiple times, which makes them pocket-friendly. Also, owing to their flexible nature, circular industrial bags can be folded and stacked when not in use. This makes handling of circular industrial bags relatively easier. The demand for circular industrial bags is expected to propel during the forecast period due to the increasing demand for fertilizers, chemicals and textile products in the developing economies. Other than that, one of the most prominent end use industry for circular industrial bags is food packaging, packaging of a variety of agricultural products such as grains, powdered items and seeds is done in circular industrial bags.
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Global Market: Segmentation
Globally the market has been segmented on the basis of fabric type, product type and end use industries.
On the basis of fabric type, the global market has been segmented as follows
Coated(Polypropylene (PP),Low-Density Polyethylene (LDPE),High-Density Polyethylene (HDPE) & Linear Low-Density Polyethylene (LLDPE)) & Uncoated
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On the basis of product type, the global market has been segmented as follows
Flat Bottom,Spout Bottom & Others
On the basis of end use industries, the global market has been segmented as follows
Food,Construction,Textile,Chemicals,Fertilizers & Others (Mining etc.)
Global Market: Regional Outlook
Geographically, the global market has been segmented into seven key regions which include, North America, Latin America, Asia Pacific excluding Japan, Japan, Eastern Europe, Western Europe, Middle East and Africa. The North America market is expected to lead the global market during the forecast period. Agriculture sector accounts for a large share in the market. Countries such as India and China are expected to provide remunerative opportunities for the growth of circular industrial bags on the backdrop of well-established agricultural sector in the region.
Global Market: Key Players
Some of the key players in the global market are West Pack, Inc., United Bags Inc., Midwestern Bag & Supply, LLC, Conitex Sonoco Holding BV, Minini S.p.A., Knack Packaging Private Limited, Alliance Polysacks Pvt. Limited. Many local and unorganized players are expected to contribute to the global market during the forecast period.