Global Flexible Intermediate Bulk Container Market 2018-2022 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Dec 31, 2018--Technavio’s global flexible intermediate bulk container (FIBC) market research report forecasts the market to grow at a CAGR of over 6% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio predicts the global flexible intermediate bulk container market to grow at a CAGR of over 6% by 2022. (Graphic: Business Wire)
The need for sustainability in global FIBC market will be one of the major trends in the during 2018-2022. The manufacturers of flexible intermediate bulk containers have been developing sustainable packaging materials and packaging designs due to the change in government regulations, increased pressure from different regulatory bodies, non-governmental organizations (NGOs), and other environmental groups. As per the European Union (EU) strategy, by 2030, all member states are supposed to reduce their plastic packaging waste by 55%.
According to Technavio analysts, one of the key drivers for the global flexible intermediate bulk container market is the growth in the global construction industry:
Global flexible intermediate bulk container market: Growth in the global construction industry
In 2017, the global construction industry was valued at around USD 9 trillion. During the forecast period, the market is further anticipated to grow by around USD 2 trillion. The major contributors to the growth of the global construction industry include China, Japan, the US, and India. The rising commercial construction including offices and transportation infrastructure are driving the growth of the construction industry in emerging markets.
According to a senior analyst at Technavio for research on packaging, “In the construction industry, FIBCs are used for the storage and transportation of sand, gravel, stone, debris, and cement. FIBCs are expected to gain more prominence in the construction industry as they can save storage space and ensure the optimum utilization of trucks. Hence, the growth of the global construction industry is expected to directly impact the growth of the global FIBC market.”
Global flexible intermediate bulk container market: Segmentation analysis
This global flexible intermediate bulk container market analysis report provides market segmentation by end-user (chemical, food, and others), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2017, accounting for more than 40% share. It was followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING
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PUB: 12/31/2018 07:22 AM/DISC: 12/31/2018 07:22 AM