The global fiber bale packaging film market is estimated to create an incremental opportunity of more than USD 3.5 Billion by the end of 2032. The sales of fiber bale packaging films are expected to surpass USD 2.8 Billion by 2022, accelerating at a CAGR of nearly 4% to 5% during the forecast period 2022 to 2032.
Increasing adoption of innovative bales packaging solutions for convenient handling, storing, and transportation across diverse industries is projected to facilitate the demand for fiber bale packaging film in the global market.
| Report Attribute | Details |
|---|---|
| Fiber Bale Packaging Film Market Base Year Value (2021) | USD 2.75 Billion |
| Fiber Bale Packaging Film Market Expected Value (2022) | USD 2.80 Billion |
| Fiber Bale Packaging Film Market Anticipated Value (2032) | USD 3.5 Million |
| Fiber Bale Packaging Film Market Projected Growth Rate (2022 to 2032) | 4% to 5% CAGR |
Fiber bale packaging is a versatile type of bulk packaging technique that protects products during logistics from forklift grease, dirt in the factory, and numerous handlers. Once attached to the other products or pieces, each piece is transformed into a greatly enclosed and accommodated compact, durable fiber bale.
Fiber bale packaging films are films that are commonly made of high tensile strength and strong plastic materials such as polypropylene, polyethylene terephthalate, high-density polyethylene, polypropylene, and linear low-density polyethylene, among others.
These films are extensively used as a packaging product for wrapping a large number of products in a single, compact package during fiber bale packaging process. Hence, with increasing emphasis on reducing the wastage of the products during logistics, shipping, and handling activities, the demand for efficient packaging solutions such as fiber bale packaging films is rising at a robust pace.
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Over the past couple of years, a swift rise in import and export activities is being witnessed across the world, owing to the rapidly increasing trend of globalization, creating strong demand for bulk packaging products worldwide.
Fiber bale packaging is finding a wide range of usages across industries such as food & beverages, building & construction, electrical & electronics, and agriculture, owing to its ability to secure and protect bulk products during transit. This packaging technique can tailor a bale cover as per end-user requirements based on wrapping preference, staple fiber features, and bale presses, thus, gaining popularity across diverse industries.
As fiber bale packaging films are one of the most crucial packaging products required for above mentioned packaging technique, increasing adoption of fiber bale packaging is estimated to augment the demand in the global market.
Hence, leading players in the market are focusing on developing and introducing innovative fiber bale packaging film with sustainable properties and distinctive protective features to capitalize on the existing opportunities. This is projected to create a sustainable roadmap for the growth of the fiber bale packaging film market in the global packaging industry.
Plastics such as polyethylene terephthalate (PET), high-density polyethylene, polypropylene (PP), polyethylene (PE), and others are negatively impacting the environment due to their non-biodegradability and release of chemicals during extremely slow decomposition process.
Thus, with growing concerns pertaining to environmental sustainability, governments of numerous countries are implementing several stringent norms and regulations regarding the use of plastics packaging products. This is hampering the growth in the global fiber bale packaging film market.
In addition to this, increasing introduction of eco-friendly high tensile jute fabrics for substituting plastics films in fiber bale packaging is expected to further hinder the sales in the market.
Principal Consultant
As per FMI, North America is forecast to emerge as the exhibit the fastest growth in the fiber bale packaging film market between 2022 and 2032.
Key companies in the market are focusing on research and development activities for launching novel sustainable and eco-friendly packaging products to counter the regulatory constraints and cater to surging demand.
For instance, in 2020, Cortec Corporation, a USA-based manufacturer of innovative packaging solutions announced introducing a novel compostable industrial-strength film, Eco Wrap, which can be used for bulk packaging of goods. A slew of such developments is estimated to augment the growth in the North America market.
Future Market Insights states that Asia Pacific excluding Japan is projected to account for a significant share in the global fiber bale packaging film over the forecast period 2022 to 2032.
Governments in several countries are emphasizing on expanding their agriculture and industrial production capacity to increase their exports for strengthening their footprint in the international market. For instance, according to a study by the Australian Trade and Investment Commission, the production of cotton in Australia increased to 2.4 million bales between 2020 and 2021, assisting the country to increase its cotton export to countries such as Bangladesh, Indonesia, Vietnam, and Turkey among others.
As fiber bale packaging films are extensively used for bulk packaging of products such as cotton for logistics and trade activities, such rise in export activities is estimated to bolster the sales in the market.
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Some of the leading players in the global fiber bale packaging film market are Sonoco Products Company (Conitex), Lenzing Plastics GmbH & Co KG, Cortec Corporation, Stein Fibers, Ltd., ITW Signode India Limited, and others. Leading players in the global market are aiming at launching sustainable products and capacity expansion to increasing their share in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% to 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material Type, Thickness, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; Middle East and Africa |
| Key Companies Profiled | Sonoco Products Company (Conitex); Lenzing Plastics GmbH & Co KG; Cortec Corporation; Stein Fibers, Ltd.; ITW Signode India Limited |
| Customization | Available Upon Request |
FMI projects the sales of fiber bale packaging films in the market is expected to rise at 4% to 5% value CAGR by 2032.
The global fiber bale packaging film market is anticipated to be dominated by North America over the forecast period 2022 to 2032.
Sonoco Products Company (Conitex), Lenzing Plastics GmbH & Co KG, Cortec Corporation, Stein Fibers, Ltd., and ITW Signode India Limited among others some of the leading players in the global fiber bale packaging film market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032 5. Global Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Material 5.1. Polyethylene (PE) 5.2. Polyvinyl Chloride (PVC) 5.3. Polypropylene (PP) 5.4. Polyethylene Terephthalate (PET) 6. Global Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Thickness 6.1. Less than 10 Microns 6.2. 10 to 30 Microns 6.3. More than 30 Microns 7. Global Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Food 7.2. Agriculture 7.3. Building & Construction 7.4. Textile 8. Global Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 15. Middle East & Africa Fiber Bale Packaging Film Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 16. Country wise Fiber Bale Packaging Film Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Lenzing Plastics GmbH & Co KG 18.2. Bischof + Klein SE & Co. KG 18.3. Signode India 18.4. AUTEFA Solutions 18.5. Conitex Sonoco 18.6. Allen Plastic Industries Co. Ltd 18.7. Vishakha Polyfab 18.8. Griff Paper and Film 18.9. CS Hyde Company 18.10. International Plastics Inc. 19. Assumptions and Acronyms Used 20. Research Methodology
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Fiber Bale Packaging Film Market
