Flexible Intermediate Bulk Container Market annual growth rate is 8.13 percent
Flexible Intermediate Bulk Container Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Flexible Intermediate Bulk Container Market was valued at USD 3540 million in 2016 and projected to reach USD 4490 million by 2021 growing at a CAGR of 8.13% during the forecast period 2016 to 2021.
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Flexible Intermediate Bulk Container Market Growth Drivers and Restraints:
The global market for bulk flexible intermediate containers (FIBC) has grown significantly in recent years. The main factor attributable to the growth of the market is the rapid increase in the demand for these containers in all sectors. Growth in the food, beverage and pharmaceutical industries is expected to feed the global FIBC market during the forecast period. In addition, it is expected that the growing need to reduce the total weight of bulk packaging will stimulate the FIBC market, particularly in the construction sector, in the coming years. The global market is highly competitive, yet attractive, as a majority of the industry is dominated by a few players. The manufacturers are focused on the use of bio-based raw materials and eco-friendly plastics for the manufacturing of FIBCs. The rapid growth of this market is expected to offer high potential for new market entrants in the coming years.
Geographical Analysis of Flexible Intermediate Bulk Container Market:
Among regions such as Europe, Asia-Pacific, North America and the rest of the world, it is estimated that Asia-Pacific will probably experience the greatest expansion rate of growth. This growth is attributed to the greater exports of chemical products and bulk oils to Europe and North America. Europe is expected to experience moderate growth in the bulk container packaging market. The strong export of wines will support the growth of this market in Europe. The rest of the world is expected to become the second largest market for the packaging of bulk containers due to the growing export of chemical and bulk food products.
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Key Players of Flexible Intermediate Bulk Container Market:
Major participants in the global flexible intermediate bulk containers market include Global-Pak, Flexi-tuff, Conitex Sonoco, Berry Plastics, and LC Packaging.
Flexible Intermediate Bulk Container Market Segmentation:
By Product Type:
- Type A FIBCs
- Type B FIBCs
- Type C FIBCs
- Type D FIBCs Top of Form
By Industry:
- Food Products
- Chemicals
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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