According to the latest report by IMARC Group, titled "Flexible Intermediate Bulk Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global flexible intermediate bulk container market grew at a CAGR of around 6% during 2014-2019. Flexible intermediate bulk containers (FIBC) are industrial packaging materials made up of flexible and foldable woven fabric, most commonly polypropylene (PP). They are used to significantly lower the overall weight of the bulk packaging due to their negligible weight. Also known as bulk bags, they are usually large, cubic and bendable in nature while having the capacity to hold over 500 kg of weight. They are designed to store and transport dry and flowable, as well as semi-liquid products in an efficient manner. As a result, they are widely used for storing grains, seeds, clays, salts, rubber, chemicals, petrochemicals, sand, cement and food products. They are also cost-efficient and easy to handle due to which they are extensively utilized across a vast array of industry verticals, such as mining, agriculture, transportation, pharmaceuticals and manufacturing sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flexible Intermediate Bulk Container Market Trends:
The market is primarily driven by the increasing demand for FIBCs from the agriculture sector. These materials are widely adopted for transporting food products, such as rice, grains, vegetables and cereals, across the globe, due to the enhanced convenience offered by them in terms of transportation and handling. Apart from this, rapid industrialization and the increasing demand for specialty chemicals on the global level is providing a thrust to the market growth. These packaging materials can also be employed to store and transport liquid chemicals in a safe manner, due to which they are gaining widespread prominence among the end users. The market is further driven by the growing applications of FIBCs in the construction industry. They are extensively used in the sector for transporting several construction materials, such as sand, cement, alloys, steel and carbon black. This, along with the significant infrastructural developments across the globe, is catalyzing the market growth. Moreover, the increasing utilization of pharma-grade FIBCs for packing pharmaceutical products is acting as a major growth-inducing factor. These materials are extensively used for preventing contamination of various medical products while ensuring proper safety of the packaged goods. Some of the other factors contributing to the market growth include the growing demand for lightweight and eco-friendly packaging materials and the advent of food-grade FIBCs made from virgin polypropylene resins. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the product, the market has been divided into types A, B, C and D.
- Based on the end use industry, the market has been classified into food, chemicals, pharmaceuticals and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied with the detailed profiles of the key players. Some of these players include Bag Corp., Berry Global Inc., Bulk Lift International LLC, Global-Pak Inc., Greif Inc., Isbir Sentetik Dokuma Sanayi A.S., Langston Companies Inc., LC Packaging International BV, Plastipak Group, and Rishi FIBC Solutions PVT. Ltd.
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