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PUNE, MAHARASTRA, INDIA, July 13, 2020 /EINPresswire.com/ — Flexible Intermediate Bulk Container Market:
Global Flexible Intermediate Bulk Container Market is valued approximately USD 4.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2027. A flexible intermediate bulk container (FIBC) is a type of industrial container made up of flexible fabric, which is intended for transporting and collecting dry products, such as granules of plastic, sand and fertilizer. FIBCs are most frequently made up of thick woven polypropylene or polyethylene, either uncoated or coated, and typically measure about 45–48 inches (114–122 cm) in diameter and differs in height from 39 to 79 inches (100 to 200 cm). Its capacity is normally over 1,000 kg or 2,200 lb., but the larger units can store more. With FIBCs, consumers are offering the capability to store and transport these materials at a much lesser cost instead of other feasible option. Growing food processing industry, increasing manufacturing & construction spending and rise in demand from pharmaceutical sector are the few factors responsible for high CAGR of the market over the forecast period. For instance, in India, the food processing sector has received nearly $7.54 billion worth of Foreign Direct Investment (FDI) over the period of 2000-2017, as per the data delivered by the Department of Industrial Policies and Promotion (DIPP). Similarly, the Indonesian government had made the investment in food and beverage would reach US$4.48 billion in 2019. This, in turn, is expected to accelerate the demand for flexible intermediate bulk container, thus contributing to the growth of the global market. Amidst the COVID-19 pandemic, it has led to a sudden break to manufacturing activities worldwide, thereby affecting the demand for flexible intermediate bulk container. That is the short-term impact thus far. The longer-term impact could be the possible of increased container prices as the demand continues to increase, though supply continues to decline, which is restricting the market growth in the future. However, fluctuating prices of raw material is also the major factors expected to hamper the growth of the market over the forecast period of 2020-2027.
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The regional analysis of global Flexible Intermediate Bulk Container market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high FIBC adoption by the large-scale chemical and manufacturing industries in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027, due to the growth of chemical and pharmaceutical sector in the countries, such as China and India.
Major market player included in this report are:
FlexiTuff Ventures International Limited
Berry Global, Inc.
Bulk Lift International
Jumbo Bag Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Flexible Intermediate Bulk Container Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
For further information on this report, visit – https://www.wiseguyreports.com/reports/5511835-global-flexible-intermediate-bulk-container-market-size-study
NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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