The global isothermal bags & containers market is expected to grow significantly over the forecast period mainly on account of the growing trade of goods and commodities worldwide. Rising need for safe transportation via effective packaging solutions can further fuel the demand. Isothermal bags and containers are both rigid and semi-rigid. Their isothermal lining is made of aluminum and other plastic material. These bags and containers are capable of maintaining the temperature between -80°C to +25°C. They are widely used in logistics and transportation of perishable products. Furthermore, these bags and containers protect the products for approximately 48 to 144 hours.
Based on material, the global market for isothermal bags and containers can be categorized into Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyurethane (PU), and nylon among others. PU is the predominantly used material type as it maintains the temperature of packaged products for a longer duration. Expanded polyurethane bags and containers offer very high thermal conductivity coupled with high mechanical strength. They can offer manageable temperatures up to 144 hours. Polystyrene is chlorofluorocarbon free and is highly recyclable. These properties are anticipated to further fuel its demand.
In terms of product, the market can be segmented into bags and containers. Containers dominated the market in 2017 owing to the relatively higher mechanical strength of the products. They are predominantly used in long-distance logistics that demand secure packaging for an extended time. Bags segment is expected to expand at a higher CAGR and is expected to occupy a sizeable market share over the forecast period. Flexibility and lightweight characteristics of these products reduce the transport costs, which, in turn, is anticipated to drive the demand in the forthcoming years.
Based on the application, the isothermal bags & containers market can be split into pharmaceuticals, food, chemical, and others. Pharmaceutical is anticipated to lead in terms of demand as drugs, vaccines, and biological products require highly temperature-controlled logistics. Isothermal containers and bags prevent the alteration of drug properties throughout transport. Pharmaceutical is followed by the food sector owing to the rising demand for frozen foods and ready-made meals. Demand for convenience foods and ready-to-eat and on-the-go meals is fostered by rising disposable income, especially in emerging countries such as India and Brazil. However, the presence of substitutes such as cost-effective isothermal cargo covers can hinder the market growth.
Among regions, North America accounts for a larger market share in terms of revenue, owing to the steady growth of the pharmaceutical and food industries. Increasing trade is anticipated to further fuel the regional product demand in the forthcoming years. The Asia Pacific also holds a sizable market share owing to the high demand for drugs and vaccines coupled with a preference for convenience foods.
Key vendors in the global isothermal bags & containers market are undertaking various business strategies such as facility expansions with greater investments to expand their business. Some of the major vendors include Sonoco Products Company; Cryopak Europe; Pelican BioThermal; Cold & Co; and ACH Foam Technologies, Inc. Other prominent companies include Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, and Envirotainer AB.
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.