Global Flexible Intermediate Bulk Container Market: Overview
Over the forecast period of 2019 to 2027, the global flexible intermediate bulk container market will chart a steady CAGR (Compound Annual Growth Rate). That means that market players should brace themselves for a slew of opportunities that are set to arise in the market landscape. Besides, the market worth will rise up considerably over this period.
Used in a number of end use industries, flexible intermediate bulk containers will owe growth to demand from pharmaceuticals in particular. And, it might be pertinent to point out here that pharmaceutical industry itself is set to chart high growth trajectory due to rise in geriatric population and increase in incidence of chronic diseases. Other industries that generate demand in the market under discussion include building & construction, agricultural, mining, manufacturing, and waste handling. Food and chemical industry also contribute positively.
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Global Flexible Intermediate Bulk Container Market: Competitive Landscape
The global flexible intermediate bulk container market is rife with developments that are not just crucial for players to take note of but also to understand how the market would operate over the coming years. An in-depth dive in can be had in our upcoming report on flexible intermediate bulk container market.
The global flexible intermediate bulk container market is highly fragmented and prominent players in the market include 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, among others. Players are focusing on improving their products to make them suitable for a wide applicability. And, in order to stay ahead of their competitors, they resort to mergers and acquisitions. Also, strategic collaborations and partnerships are often witnessed.
Global Flexible Intermediate Bulk Container Market: Key Trends and Drivers
Certain factors are shaping the growth curve for Global Flexible Intermediate Bulk Container Market. They are paving the way for how market would operate over the coming years. A glimpse is shared below.
- Rise in construction will lead to growth in the global flexible intermediate bulk container market. As per a recent report – Global Construction 2030 – it is predicted that construction volumes would go up by 85%, creating market worth of USD 15.5 trillion. It is worth noting here that in this overall growth, there are three countries that will stand out – India, China and the United States. The three will together hold 57% of the market growth.
- As the geriatric population increases, worldwide, so would need for pharmaceuticals, and so would need for flexible intermediate bulk containers. It is predicted that one in every six people will fall in the age group of 65 and above by the end of 2050 and the ratio would be one in four in North America and Europe. Already, the year 2018 has proved to be historic in terms of changing demographics. It saw the number of people aged 65 and above surpassed those in the age group of five and below.
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Global Flexible Intermediate Bulk Container Market: Geographical Analysis
North America will hold a dominant position in terms of both volume and revenue. It will be attributable to pharmaceutical companies generating demand. Also, there is a good level of adoption of FIBC by chemicals and manufacturing sectors. To top it, there is also a high growth noted in food processing industry that would again pull the FIBC market worth up significantly. Besides, growth will also be attributable to agricultural market.
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