Bulk Container Packaging Market Recorded Strong Growth in 2019; COVID-19 Pandemic Set to Drop Sales
VALLEY COTTAGE, N.Y. – Bulk container packaging offers extreme convenience in shipping large stacks of consumer goods with cost-effective containerization and hence being increasingly preferred by a number of verticals. Moreover, increasing international trade activities is further promoting the use of bulk containers in the shipping industry. In recent years, demand for bulk containers has surged to a significant extent owing to the introduction of advanced packaging solutions such as flexitanks that can easily meet the transportation requirements of non-hazardous chemicals. However, affordability of bulk containers has been impacted by the ongoing fluctuation in prices of raw material.
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As per Future Market Insight’s latest report, the global bulk container packaging market will stand at US$ 13.6 Bn by 2017-end. This market is projected to expand at a CAGR of 7.8% between 2017 and 2027 to reach a valuation of US$ 28.7 Bn. In addition, factors such as greater importance to hygiene and eco-friendly packaging, increasing disposable income, and environmental impacts are likely to play a crucial role in curating the growth of the market in the years to come. Bulk container packaging comprises of both flexible packaging and rigid packaging that are extensively used in the global shipping operations. Although, the former is expected to witness relatively higher demand in the foreseeable future.
Key Excerpts of the Report Include:
Based on product type, bulk containers will account for a higher revenue share of the market as compared to flexitanks and bulk container liners throughout the forecast period. By 2017-end, nearly 622,413.5 ‘000 Units of bulk container are expected to be sold worldwide.
Preview Analysis of Bulk Container Packaging Market: APEJ Anticipated to Register Highest Growth Between 2017 and 2027: Global Industry Analysis and Opportunity Assessment 2017 – 2027: https://www.futuremarketinsights.com/reports/bulk-container-packaging-market
Based on the material type, a majority of bulk containers are made of plastic. Ease of packaging, durability and several other advantages of plastic are making it a suitable material for BCP applications. Towards the end of 2027, plastics based BCP is expected to garner US$ 27,434.1 Mn in revenues. Among the various types of plastics, PP sub-segment is expected to dominate the global BCP market, owing to properties such as – excellent tensile strength and tear resistance, which leads to long life, excellent elongation and mechanical properties etc.
Industrial chemicals is the most attractive end-use segment for the bulk container packaging market. Bulk container packaging is extensively used for the transportation of both hazardous and non- hazardous chemicals as it can essentially minimise the risk of spillage to a great extent.
FMI’s report, titled “Bulk Container Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2027” also reveals that North America is set to account for 29.7% value share of the global bulk container packaging market in 2017. In addition, the region will retain its top position over the forecast period. Meanwhile, Asia Pacific excluding Japan (APEJ) is anticipated to be the fastest growing market for bulk container packaging owing to the ongoing industrial boom in emerging countries such as India and China.
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Some of the leading market players profiled in the FMI report include Greif, Inc., Berry Global, Inc., Sealed Air Corporation, DS Smith Plc., Mondi Group, Bemis Company, Inc., International Paper Company, Winpak Ltd., Mauser Group B.V., Hoover Ferguson Group, Braid Logistics (UK) Limited, Qingdao LAF Packaging Co. Ltd, My Flexitank Industries Sdn Bhd, SIA Flexitanks Limited, Environmental Packaging Technologies, Inc., Snyder Industries, Inc., Schuetz GmbH & Co. KGaA, Büscherhoff Spezialverpackung GmbH & Co. KG, Bulk Lift International, Inc., Shandong Anthente New Materials Technology Co., Ltd.
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