Analysts forecast the flexible intermediate bulk container market in North America to grow at a CAGR of 10.16% during the period 2018-2022.
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One trend in the market is innovative FIBCs available in the market.
Vendors have started offering customized FIBCs to suit the customer requirements. With the growing demand for FIBCs in various industries, vendors are offering various FIBCs, which are suitable for packaging different industrial products.
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Major key players in the flexible intermediate bulk container market in North America: BAG Corp, Berry Global, Conitex Sonoco, Global-Pak, and Greif.
According to the flexible intermediate bulk container market report, one driver in the market is growing demand for FIBCs in various sectors in North America. There is a growing demand for produce across various sectors like chemicals, horticulture products, and construction.
In 2016, the global merchandise trade of manufactured and horticulture products increased by more than 35% and 65%, respectively, compared with 2015. In the US, in 2015, the agriculture exports fell to nearly $140 billion.
Further, the flexible intermediate bulk container market report states that one challenge in the market is fluctuations in raw material prices. The instability in the raw material prices is one of the major challenges faced by vendors in the FIBCs market in North America.
Polyethylene and polypropylene are primarily derived from crude oil. However, the growing fluctuations in the crude oil prices have a drastic impact on the vendors manufacturing FIBCs.
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Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?