Flexible intermediate bulk containers (FIBC), or bulk bags, are industrial packaging materials utilized for safely storing dry, granular and semi-liquid products. They are big cubic, flexible containers made with the help of coated or uncoated woven fabric with loops to serve convenient storage and movement. U-panel, circular, four-panel and baffle bags are one of the most widely used FIBCs. These bags are used to hold toxic, non-toxic and free-flowing products, for instance chemicals, petrochemicals, pharmaceuticals, rubber & agriculture, and food items. As a result, they are majorly utilized across several industries, for instance transportation, mining, manufacturing, agriculture and waste handling
COVID-19 Impact analysis
- The flexible intermediate bulk containers are mostly used for packaging and carrying products from one place to another, during the pandemic as most of the import and export operations are at a halt. The usage of FIBCs were cut down tremendously which caused the manufacturers a lot of trouble.
- As the transportation was a complete stop, the producers had to cut down their production to save the cost, because there was very less demand in the market for FIBCs.
- Although one of the critical end user of the flexible intermediate bulk container which is pharmaceutical industry was still running as it was essential, it helped the market not to close out completely because there were still the transportation of medical products the production of FIBCs was still operating to small extent.
Top Impacting Factors
Swift industrialization all around the world is one of the critical factors propelling the growth of the market. Chemical and agriculture item producers are substantially using FIBCs to handle grains, rice, potatoes, cereals, and liquefied chemicals. These bags are also utilized to store and transport construction materials, for instance carbon black, steel, alloys, minerals, cement, and sand. In addition, surge in environmental concern among all-around the world and the rise in demand for lightweight, biodegradable and bulk packaging material for pharmaceutical products foster the market growth. The increase in need for reducing overall weight of bulk packaging, developments in the food & pharmaceutical sectors across the globe, and enlargement of manufacturing and construction industries primarily in the developing regions are the critical factors boosting the growth of the flexible intermediate bulk container market.
However, the installation of specific liners done in through sewing it inside the fabric of the containers is anticipated to hamper the flexible intermediate bulk container market growth. The container only being capable to be used for a single type of material is foreseen to obstruct the growth of the flexible intermediate bulk container market during the forecast period.
- North America is one of the most dominant region in the flexible intermediate bulk container market owing to the accelerating pharmaceutical industry, high FIBC application by the large-scale chemical producing industries stable growth rates of food processing and agricultural markets in the region. Asia-Pacific is anticipated to observe substantial growth rate during the forecast period due to the high agriculture production.
- Asia-Pacific market is anticipated to progress at a very fast rate, in terms of both volume and revenue. China and India are amid the largest agriculture producing countries in the world. In addition, China has one of the largest chemical industry in the world. Moreover, pharmaceutical market in the region is increasing at one of the highest growth rate as compared to the other parts of the world. Thus, because of above mentioned factors, Asia-Pacific is foreseen to progress at an excellent rate in terms of both volume and revenue, over the forecast period.
- In addition, the building and construction sector in the LAMEA is increasing substantially owing to growing government and private expenditure on infrastructure, which, in return, is propelling the LAMEA market. Furthermore, the region has the presence of a massive-sized chemical market encouraging to increase scope for flexible intermediate bulk containers in the sector. FIBC market in the LAMEA is anticipated to flourish substantially over the forecast period.
- The global flexible intermediate bulk container market is represented by the presence of both global and domestic players. Nonetheless, the market is extremely divided with the existence of a huge number of players all-around the regions. Critical players controlling in the market compete mainly on the basis of pricing. In order to secure their positions in the global market, countries in North America and Europe prominently outsource manufacturing activities to China, Turkey, and India to lower the production costs.
Key Benefits of the Report
- This study presents the analytical depiction of the flexible intermediate bulk container industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the flexible intermediate bulk container market share.
- The current market is quantitatively analyzed to highlight the flexible intermediate bulk container market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed flexible intermediate bulk container market analysis based on competitive intensity and how the competition will take shape in coming years
Flexible Intermediate Bulk Container Market Report Highlights
By End User
Key Market Players
Rishi FIBC Solutions PVT. Ltd., Global-Pak Inc, Langston Companies Inc, Bag Corp., Isbir Sentetik Dokuma Sanayi A.S., Berry Global Inc., Plastipak Group, Bulk Lift International LLC, LC Packaging International BV, Greif Inc