By the end of 2022, the global FIBC market is anticipated to reach a value of US$ 7.1 billion, with a CAGR of 5.3% over the projected period (2022-2032). According to estimates, the worldwide FIBC market will account for one-third of the US$22 billion global IBC industry in 2022.
Pallets are used to raise FIBCs, which are sturdy sheets of heavy-duty PVC coated polyester or nylon that are assembled to form the shape of containers. These FIBCs opened the way for woven polypropylene bulk bags due to the rising demand for low-space-consuming flexible packaging.
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Due to ongoing improvements in the structural and design elements, FIBCs are currently solely utilised to convey hazardous substances. The mining, building and construction, food and agriculture industries all make considerable use of FIBCs, according to Future Market Insights.
FIBCs provide bulk packaging in addition to ensuring the items’ shelf life and protecting them. By switching out the oxygen in the packaging for nitrogen, FIBCs with modified atmospheric packaging (MAP) technology stop product
Hence, key players and end users are taking extra care to safeguard product from contamination. The UV-protected bags and the FIBCs made up of 100% virgin polypropylene fabric are the best suitable options for the outdoor applications and cleanroom packaging helps to eliminate chances of contamination.
As FIBCs are used to transport hazardous materials, the risk of fire is more during transportation especially in the high temperature regions. Hence, chemical industries transporting explosive materials have high demand for fire retardant bulk bags. The FIBCs produce with PP fabric and fire retarding chemicals ensures optimum fire safety and therefore such FIBCs are in huge demand in the past three years.
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A list of Key Players Covered in the FIBC Market are:
- Grief
- Berry Global Group
- Intertape Polymer Group.
- Conitex Sonoco
- LC Packaging International BV
- RDA Bulk Packaging Ltd.
- Conrop
- s.r.o.
- MANICARDI® srl
- J&HM Dickson Ltd.
- DS SMITH plc
- Sokuflex Behälter GmbH
- Bulk Containers Europe BV.
Key Takeaways from Global FIBC Market
- FIBC with a carrying capacity above 750 kgs is expected to hold major pie of 55% value share.
- Q bags with baffles are estimated to increase 1.7x of the current market value, by next decade.
- In terms of end use, chemicals & fertilizers segment is estimated to dominate the FIBC industry, registering CAGR of 5.8% in the global market.
- During the projected period, the U.S. FIBC market is expected to rise significantly.
- During the forecast period, the Indian FIBC market is expected to grow at a CAGR of 6.8% until 2032.
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