The industrial plastic bag market is projected to generate a market value of $9.41 billion in 2022. By 2032, the market is anticipated to grow at a CAGR of 12.1% and reach US$ 20.59 billion in terms of revenue.
| Attributes | Details |
|---|---|
| Industrial Plastic Bags Market CAGR | 12.1% |
| Industrial Plastic Bags Market (2022) | US$ 9.41 Billion |
| Industrial Plastic Bags Market (2032) | US$ 20.59 Billion |
The growth of the food, cosmetics, pharmaceutical, electrical, and electronics sectors is a major driver of the global market for industrial plastic bags. Manufacturers are concentrating on product innovation and technical improvement by developing their goods in the packaging industry in order to increase their global footprint.
Even packaging for a line of feminine care products made from post-consumer recycled and biomass-balanced materials has been introduced by certain major worldwide companies.
Some manufacturers even place a strong emphasis on creating colorful and stylish bags to entice customers to buy their goods. These businesses even use cutting-edge marketing and advertising efforts to advertise their bags. To create personalized bags for their corporate clientele, businesses are focusing on the commercial market. Some even concentrate on creating bags in a range of sizes and forms to meet the needs of customers.
Manufacturers are taking advantage of the opportunity presented by the global decline in oil and gas prices. Manufacturers are being encouraged to employ these raw ingredients to make plastic bags by the falling price of oil and gas. Plastic bags are being used by manufacturers as a platform for brand marketing.
To promote and build brand recognition in a variety of end-use sectors, including fashion, consumer goods, food & beverage, bakery, and others, manufacturers are making printed plastic bags.
Manufacturers are creating inventive plastic bags as the globe as a whole is moving toward distinctive items. For organizations and sectors that place a priority on the environment, several manufacturers are providing a new and broad line of industrial can liners. These goods come in High-density polyethylene (HDPE), and Linear low-density polyethylene (LLDPE), as well as a variety of sizes and gauges, and are perfect for a variety of applications.
Since they are more readily available and less expensive to produce than biodegradable polymers, industrial plastic bag makers mostly use non-biodegradable plastics. The trend toward boosting the number of biodegradable components in plastics is anticipated to be fuelled by intense recycling and manufacturing support for plastic bags.
Due to these circumstances, manufacturers are concentrating on biodegradable plastic bags as a way to get around government laws because they are simple to recycle and do not harm the environment. Industrial plastic bags are primarily utilized for the reasonably priced transportation of industrial goods.
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The global industrial plastic bags market is vastly driven by the development of food, pharmaceutical, electrical and electronics industries. To expand geographical outreach, manufacturers are focusing on product innovation and technological advancement by developing their products in the packaging market.
However, to overcome government stringent regulations manufacturers are focusing on bio-degradable plastic bags as these bags are easy to recycle and do not pose a threat to environment. The industrial plastic bags are mostly used for the transportation industrial products at relatively low cost.
The industrial plastic bags are generally termed as ‘single-use bags’ as these plastic bags are used only for short period of time. The industrial plastic bags reduce the weight of goods and materials during transportation over other packaging solutions such as drums, cartons etc.
Industrial plastic bags are lightweight, have high elasticity which helps in adhering the weight of the product packed. Industrial plastic bags have excellent barrier properties and are best suited to carry dry products over other packaging bags such as jute bags, paper bags etc.
However, stringent government policies against using plastic bags may hamper the market share of industrial plastic bags. Furthermore, industrial plastic bags are non-bio-degradable which may affect the eco-system if not disposed of properly.
Industrial plastic bags market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. APEJ region is estimated to account for the majority of market share in industrial plastic bags market due to the growth of food and beverages sectors.
North America region is anticipated to register above-average CAGR due to rapid urbanization and growth of retail and supermarket in the region. Western Europe region is expected to register above-average CAGR attributed to the growth of electronics sector. MEA region is expected to attribute below average CAGR due to the stagnant economy.
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Some of the key players in the field of industrial plastic bags market are Mondi plc, Ampac Holdings LLC, Interplast Group, Dana Poly Inc., Packaging Industries Ltd., Rutan Poly Industries, Inc., New York Packaging & RediBagUSA, Lindamar Industries.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Industrial plastic bags is segmented on the basis of material type, product type and end use.
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Industrial Plastic Bags Market
