Bulk Container Packaging Market to Rise at 9.7% CAGR from 2014 to 2020

2024-03-17 10:16:41 Business

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Transparency Market Research has published a new market study on the global bulk container packaging market that delves into developments of the said market from 2014 to 2020. According to the report?s findings, the market will display a CAGR of 9.7% between 2014 and 2020, resulting in the market?s valuation to increase from US$2.2 bn to US$4.2 bn between 2013 and 2020. The title to this report is ?Bulk Container Packaging Market for Food & Beverages, Chemicals and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020? and it is available for sale on the company?s website.

Bulk container packaging comprises products utilized for high-volume packaging. These are reusable industrial containers with design specifications for the storage and transport of bulk liquid and granulated substances. This packaging is used for transportation of containers via rail, road, or waterways.

The report states several reasons for the steadfast growth of the bulk container packaging market. Rising exports of oil from Southeast Asia and the flourishing global wine trade are fuelling the growth of this market. Moreover, the increasing capacity of flexitanks has resulted in enhanced cost and operational efficiency of transportation of commodities, bolstering the market?s growth. However, volatile raw material prices are restraining the growth of this market. Nevertheless, the proliferation of commodity trade in BRIC nations will benefit the bulk container packaging market in the coming years.

The report segments the global market for bulk container packaging on the basis of product, application, and geography. Bulk container liners, flexitanks, and flexible intermediate bulk containers (FIBC) are the product segments of this market. Of all, in 2013, FIBC was the largest product segment of the overall market. Bulk container liners held a 35% share in the global market in 2013 and are expected to display a moderate growth until the end of the forecast period.

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On the contrary, flexitanks were the smallest product segment of the overall market in 2013. However, this product segment will display the fastest growth until the end of the forecast period owing to the low cost and higher operational performance of flexitanks.

On the basis of application, chemicals are the leading segment and are expected to exhibit more than 9% CAGR from 2014 to 2020. This is because bulk container packaging is suitable for transportation of bulk chemicals, as it efficiently keeps chemicals isolated from environmental factors that could spoil them. In 2013, food and beverages were the second largest application segment of the global market.

In terms of geographical segmentation, in 2013, North America held a share of more than 30% in the global market. High demand for bulk container liners and FIBC for export of animal feed, oilseeds, corn, and grains from the U.S. and Canada is the reason for this.

The report states that the global bulk container packaging market is considerably concentrated with the presence of only a few top players, namely BLT Flexitank Industrial Co. Ltd., Trust Flexitanks, Environmental Packaging Technologies Inc., SIA Flexitanks Ltd., Braid Logistics, and Trans Ocean Bulk Logistics Ltd.

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