The global flexible intermediate bulk container (FIBC) market has been witnessing significant growth rate in recent years. The prime factor attributing to the growth of the market is rapidly increasing demand for flexible intermediate bulk containers (FIBC's) across industry verticals. The rising food & beverage and pharmaceuticals industries are expected to fuel the global FIBC market during the forecast period. Additionally, growing need to reduce the overall weight of bulk packaging is anticipated to drive the global FIBC market, especially in the construction industry, over the coming years.
Flexible intermediate bulk containers (FIBC's) are industrial containers, also known as bulk bags, jumbo bags, or big bags, among others. These are made up of flexible woven material, typically polypropylene (PP), and possesses the capacity to hold 500-2,000 kg of weight. FIBC’s are commonly used to contain flowable products such as grains, seeds, salts, powdered coatings, sands, clays, cement, and others. FIBC's are handled mechanically by a forklift in the industrial premises when filled. FIBC's come at a low cost, low weights, and are easy to handle. As a result of these benefits offered, FIBCs are widely used in the food & beverages, pharmaceuticals, agricultural, and chemical industries.
The global flexible intermediate bulk container market is segmented on the basis of product type, end-user, and region. Product types are divided into type A, type B, type C, type D, and food-grade. Some of the shapes include U-panel, circular, four panel, conical, and baffle. The U-panel FIBC's are commonly used across industries as it offers high safe working loads (SWLs) and also possesses solid durability.
On the basis of end-user industry, the market is segmented into pharmaceuticals, food, chemical, fertilizers, construction, and others. The chemical industry holds the largest share in the market, in terms of value, and this segment is expected to grow at the highest CAGR during the forecast period. This is largely due to the rapid growth rate of chemical industry in emerging countries of India, China, Brazil, South Africa, to name a few.
Major participants in the global flexible intermediate bulk containers market include Global-Pak, Flexi-tuff, Conitex Sonoco, Berry Plastics, and LC Packaging. 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 FIBC’s. The rapid growth of this market is expected to offer high potential for new market entrants in the coming years.
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