Industrial Paper Sacks Market CAGR Projected to Grow at 4.9% through 2028Posted by vakhas on March 20th, 2020 Environmentally sustainable industrial paper sacks are predicted to remain the most preferred, comprehensive, and state-of-the-art packaging solution for powered materials, as per a recent report by Future Market Insights (FMI), a multinational market intelligence firm. The global sales of industrial paper sacks is expected to generate approximately US$ 5.5 Billion, in 2019. Demand analysis indicates a moderate year-on-year growth rate of nearly 4.3 percent, during the same period. Superior functionality, sustainability and cost efficiency associated with industrial paper sacks, makes it a preferred packaging choice for numerous powdered goods such as flour, cement, and animal feed among others, thereby, increasing the sales revenue of industrial paper sacks. Sustainability to Remain a Key Demand Driver Industrial paper sacks demand is projected to remain promising considering improvement in four key areas, including reduction in electricity consumption, reduction in greenhouse emission, lesser fossil fuel consumption, and continuous improvements in carbon footprint. Packaging manufacturers are increasingly offering safe and effective solutions by incorporating highly sustainable materials in packaging. In addition, manufacturers are optimizing the raw materials and enhancing sack construction to further improve the products’ sustainability credentials. Stringent government regulations banning plastic sacks will remain a critical factor pushing the demand for industrial paper sacks, in the global market. Hybrid Industrial Paper Sacks Manufacturing to Open Opportunities Since conventional industrial paper sacks tends to be rain and moisture sensitive, it weakens the packaging, thereby, affecting the shelf-life of the product. Manufacturers are increasingly using High-density polyethylene (HDPE) for a protective outer coating of the industrial paper sacks—resulting in hybrid paper-plastic sacks. Apart from offering an impressive outdoor performance and easy recyclability, the newly developed hybrid industrials sacks is projected to remain the most preferred packaging solution for construction materials such as cement and gypsum as well as other moisture-sensitive materials. The bag is even suitable for filling up content at temperatures of 90°C. Hybrid variants are also likely to streamline supply chain management. “Weight-carrying limitations and weather-sensitivity of industrial paper sacks are some pain points being addressed by manufacturers. Billerudkorsnas, a key manufacturer of industrial paper sacks, has added waterproof industrial paper sacks to its product portfolio, thereby eliminating product waste and ensuring fast and higher filling speed”, Senior Analyst, Future Market Insights. Industrial Paper Sacks Sales Concentrated in Emerging Markets Developing markets of Asia Pacific (more than 1/4th of the total market share) are expected to exhibit substantial demand for industrial paper sacks, given the expanding urban landscape and building & construction industry. As per FMI analysis, China is predicted to remain in the fore, with a notable growth in production and consumption of industrial paper sacks, over the past decade. India, on the other hand, will remain a key revenue contributor, given the recent economic boom in the region. In addition, high investments in the building & construction and agriculture industries are expected to create ample opportunities for manufacturers of industrial paper sacks, in the emerging markets. Manufacturers Focus on Product Portfolio Expansion to Sustained Market Presence In a highly fragmented landscape, tier-3 manufacturers of industrial paper sacks are projected to contribute approximately 70-80 percent revenue to the global market. However, tier-1 manufactures may prove dominance over the global industrial paper sacks market, in terms of their bargaining power, given their application-specific product offerings. On the other hand, given the high competitiveness amongst manufacturers, threat of substitutes in the form of flexible intermediate bulk containers and heavy duty bags, with superior high capacity and strength, remains exceptionally high. The global industrial paper sacks market is most likely to offer opportunities to new entrants, considering expanding application across a host of end-use sectors. Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-8176 “Manufacturers are focused on expanding their portfolios to cater to the growing demand from end users. In addition, there seems to be a key focus on design, to enable optimum consumer convenience, such as the temperature-controlled packaging. Industrial paper sacks manufacturers are also ramping up their production lines, designed to be compatible with sack filler machines”, Senior Analyst, FMI. Key Insights from Segmental Analysis:
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Press-Release Source – https://www.globenewswire.com/news-release/2019/05/28/1853126/0/en/Industrial-Paper-Sacks-Sales-to-Garner-Revenues-Worth-US-5-5-Bn-by-2019-End-Future-Market-Insights.html About Future Market Insights (FMI) Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends. Contact Mr. Abhishek Budholiya Future Market Insights 616 Corporate Way, Suite 2-9018, Valley Cottage, NY 10989, United States T: +1-347-918-3531 F: +1-845-579-5705 T (UK): + 44 (0) 20 7692 8790 For Sales Enquiries: sales@futuremarketinsights.com Like it? Share it! More by this author |