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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.