Global Silo Bags Market: Snapshot
Silo bags are the types of bags used in packaging and preserving product from external storage for a long time, especially food grains. Silo bags are being used on a large scale for storing grains as it provides protection from UV rays. Moreover, their flexibility makes them ideal for shipping bulk materials. Owing to the benefit of storing grains for a long time, and providing protection against insects the demand for silo bags for food grain storage is increasing. Storing grains for a long time with help of silo bags is also allowing producers to plan logistics in an efficient way. Long storage capacity is also helping farmers and private and public storage sectors to sell and market the grains at a proper time, thereby earning highest profits.
As per the report by Transparency Market Research (TMR), the global market for silo bags is likely to witness strong growth, registering 6.5% CAGR during 2017-2026. The market is also likely to reach US$ 693.2 million revenue by the end of 2026.
Silo Bags of 75 Meters to Account for Maximum Revenue Share
Silo bags of 75 meter in length are expected to account for nearly half of the revenue share by the end of 2017. 75 meters length of silo bags is projected to reach nearly US$ 400 million revenue by the end of 2026. Meanwhile, silo bags of 60 meters length are also likely to witness healthy growth during 2017-2026.
Polyethylene (PE) Silo Bags to Gain Maximum Traction in the Global Silo Bags Market
Polyethylene (PE) is likely to be one of the highest preferred type of material for silo bags. By the end of 2026, Polyethylene (PE) is projected to surpass US$ 600 million revenue. Owing to the various advantages of polyethylene such as being fully recyclable, extremely impact resistant, not reacting chemically with the material stored, makes polyethylene as the preferred material for developing silo bags.
Silo Bags to be used on a Large Scale for Grain Storage
Silo bags are likely to find the largest application in grain storage during the forecast period 2017-2026. By the end of 2026, grain storage is projected to reach nearly US$ 500 million revenue. Meanwhile, use of silo bags for forages storage is likely to witness strong growth during 2017-2026.
North America to Dominate the Global Silo Bags Market
North America is likely to emerge as the dominating region in the global silo bags market during 2017-2026. Owing to the increasing demand for silo bags for affordable packaging and long-term storage. Increasing number of small farmers are also demanding silo bags for short storage purpose. Hence, the region is likely to witness growth in the coming years. Due to the cut-throat competition, many leading companies in North America are providing silo bags with additional features. Meanwhile, Asia Pacific Excluding Japan (APEJ) is also likely to see the growth in silo bags market. Owing to the importance of agriculture and large-scale of agricultural activities carried out in countries such as India, China, and Australia, silo bags market is likely to witness growth in APEJ.
The key players in the global market for silo bags mentioned in the report are RKW Group, GEM Silage Products, IPESA, Canadian Tarpaulin Manufacturers LTD BagMan LLC, Grain Bags Canada, Hangzhou Xinguang Plastic Co., Ltd, Temudjin Flex-Pack BV, Sigma AG (Sigma Stretch Film), Brain Chamber Polysacks PVT.Ltd, and GrainPro Philippines, Inc. These key players are focusing on establishing themselves in the region where agricultural sector is witnessing a strong growth.
Global Silo Bags Market: Overview
The global silo bags market is witnessing growth due to the rising awareness on wastage of grains at the time of cultivation. The pressure on the production of agricultural crops is increasing owing to the rising population. Hence, the demand for silo bags is also growing as they can protect grain for a long time and help in meeting the ever-increasing demand for grains. Manufacturers are also adding new features to silo bags such as attaching monitoring equipment that can ensure the quality of the product can also help in adjusting the temperature according to the requirement, especially in case of the grains. Ability to provide protection from UV rays is also driving the demand for silo bags.
Increasing demand for convenient packaging is driving manufacturers to focus on developing silo bags with optimum space, storage efficiency, flexibility and high performance. Manufacturers are also developing wireless sensors to monitor temperature and humidity in silo bags in order to avoid any spoilage of grains and store grains for a long time.
Global Silo Bags Market: Research Methodology
The report is based on primary and secondary research. Based on the research the report also provides trends, drivers, opportunities, and restraints. Primary research includes information collected on the basis of discussions and interviews with industry experts and leaders. While, the secondary research offers information that is collected through detailed study of the market on company websites, press releases, annual reports, analyst and investor presentation, and data collected from different national and international databases. The report offers detail on estimated market size on the basis of US$ Mn and CAGR in percentage form for material type, length type, application, and region. The report also takes into account both macro and micro environmental factors.
The report comprises of SWOT analysis, Porter’s five force analysis, and analysis of market attractiveness. The report also provides information on the regulations on protection of grains and packaging in various regions. It also covers the details on the major opportunities for the key players operating in the silo bags market.
Global Silo Bags Market: Market Segmentation
The global silo bags market is segmented into material type, length type, application, and region. Based on the material type, the market is segmented into Polyethylene (PE) and Polypropylene (PP). Based on the length type, the market is segmented into 60 meters, 75 meters and 90 meters. In the terms of application, the market is segmented into grain storage, forages storage, fertilizers storage, dried fruits storage and others.
Region-wise the global silo bags market is segmented into North America, Europe, Latin America, Japan, Asia Pacific Excluding Japan (APEJ), and the Middle East and Africa (MEA). The report offers forecast and market size for each region and the CAGR percent for the forecast period 2017-2026 for each segment including material type, length type, and application.
Global Silo Bags Market: Competitive Landscape
The report provides detail on various key market players based on various parameters such as financial overview, company overview, business strategies, product portfolio, and recent developments. The report includes profiles on the key companies operating in the global silo bags market such as IPESA, GEM Silage Products, RKW Group, BagMan LLC, Canadian Tarpaulin Manufacturers LTD, Grain Bags Canada, Temudjin Flex-Pack BV, Brain Chamber Polysacks PVT.Ltd, Sigma AG (Sigma Stretch Film), GrainPro Philippines, Inc., and Hangzhou Xinguang Plastic Co., Ltd