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Bulk Container Packaging Market is expected to expand at a CAGR of 9.7% by 2031.Bulk containers are gaining traction in chemical and food & beverage industries.
WILMINGTON, DELAWARE, USA, June 8, 2022 /EINPresswire.com/ -- Bulk container packaging includes products used for bulk or high volume packaging. These are transported in containers via road, sea, or railways. This report studies the bulk container packaging market for three products: flexitanks, flexible intermediate bulk containers (FIBC), and bulk container liners. Other bulk container packaging products available in the market such as drums, barrels, and boxes have not been considered in the report.
Bulk container liners are made of woven polyethylene or polypropylene, and are available in different sizes depending upon customer requirement. However, the most widely used liners are 20ft and 40ft containers globally.
Moreover, bulk containers are used for storage and transportation of large volumes of liquid substrates such as solvents and most aggressive chemicals. On the other hand, the high quality plastic material-based bulk containers are extremely useful for food and beverage storage, which ensures optimum freshness of the consumable products. Together, industrial chemicals and food & beverage industries are estimated to hold the major pie in the global market during the forecast period.
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Food & beverages and pharmaceutical industries have remained key to the market for bulk container packaging. Rise in business and startups in the food industry is estimated to boost the bulk container packaging market.
According to Transparency Market Research’s latest research report on the bulk container packaging market for the forecast period 2022 to 2031, rise in usage of bulk container packaging in pipe re-lining and building & construction activities is a key factor that is expected to boost the global bulk container packaging market during the forecast period.
Use of Bulk Container Packaging in Food & Beverages and Chemical Industries to Grow in Near Future
In terms of application, the bulk container packaging market has been divided into food & beverages, chemicals, and others (including pharmaceuticals). The global bulk container packaging market is driven by their use in the transportation of dry and free-flowing chemicals or materials. Based on application, the chemicals segment is expected to continue to lead the market, but witness moderate growth during the forecast period.
Bulk container packaging finds extensive application in the chemical industry. Shale gas is produced in high quantities in the U.S. and this gas is used as a feedstock for the production of other chemicals. Abundance of low cost feedstock across the globe is attracting many investors toward the chemicals industry. This is anticipated to create specific packaging and transportation requirements for which bulk container packaging will suit ideally, driving the growth prospects of this market over the next few years.
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The demand for bulk container packaging in applications such as pharmaceuticals and others will grow at a sluggish pace.
The food & beverages segment is estimated to emerge as the second-largest segment in the market over the next few years. The need to prevent contamination of food as well as maintain hygienic standards will drive the demand for bulk container packaging in the food & beverages sector.
Rise in Demand for Flexible Intermediate Bulk Containers (FIBC) in Global Bulk Container Packaging Market
Based on product, the flexible intermediate bulk containers (FIBC) segment dominated the global bulk container packaging market in 2020. Volatile feedstock prices pose a challenge to the growth of this market. The growth of the commodity trade in BRIC countries will be favorable for the bulk container packaging market over the next few years. The report segments the bulk container packaging market into flexitanks, bulk container liners, and flexible intermediate bulk containers (FIBC). Flexible intermediate bulk containers (FIBC) was the largest product segment of the market in 2020. The bulk container liners segment is expected to witness moderate growth in the near future. It held more than 35% share of the market in 2020.
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Regional Outlook of Global Bulk Container Packaging Market
Among regions such as Europe, Asia Pacific, North America, and Middle East & Africa, and Latin America, it is estimated that the market in Asia Pacific will most likely witness the fastest growth rate. The growth can be attributed to the escalating exports of bulk chemicals and oils to Europe and North America. Europe is estimated to experience moderate growth in the bulk container packaging market. The high export of wines is projected to boost the market in Europe. Middle East & Africa and Latin America are anticipated to emerge as the fastest growing markets for bulk container packaging on account of the increasing export of bulk chemicals and food products.
Rise in export of vegetable oil from Southeast Asia is driving the growth of this market. Similarly, rise in export of wine from Europe will fuel the demand for bulk container packaging. Low cost and high operational efficiency is a key factor behind the use of bulk container packaging such as tank containers, barrels, and drums. The use of flexitanks lowers the cost of glass and bottling, and hence, it is used for exporting wine. It also reduces the cost of import duties and overall transportation cost of wine.
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Analysis of Key Players in Global Bulk Container Packaging Market
Detailed profiles of providers of bulk container packaging have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies. Key players operating in the global bulk container packaging market include Shandong Anthente New Materials Technology Co., Ltd., BLT Flexitank Industrial Co. Ltd., Braid Logistics, Büscherhoff Spezialverpackung GmbH & Co. KG, Environmental Packaging Technologies Inc., KriCon, K Tank Supply Limited, Qingdao LAF Packaging Co. LTD., MY FlexiTank, SIA Flexitanks Ltd., Bulk Liquid Solutions Pvt. Ltd., Shanghai Yunjet Plastic Packaging Co. Ltd., Trust Flexitanks, and Trans Ocean Bulk Logistics Ltd.
Key providers of bulk container packaging, such as BLT Flexitank Industrial Co. Ltd., SIA Flexitanks Ltd., Trust Flexitanks, Braid Logistics, Environmental Packaging Technologies, Inc., and Trans Ocean Bulk Logistics Ltd., are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies.
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