The global sales of PE jumbo bags are estimated to be worth USD 1.9 billion in 2021 and are anticipated to reach a value of USD 2.7 billion by 2031. Sales are projected to rise at a CAGR of 3.8% over the forecast period between 2021 and 2031. The revenue generated by PE Jumbo Bags in 2020 was USD 1.8 billion.
The main factors contributing to the growth of the market include increased applications of bulk packaging solutions in various industries such as agriculture, building and construction, and chemicals. Durable, affordable, high-capacity bags that can carry heavy amounts of commodities help fuel the growth of the market.
Innovations within the design and material of the bag aim to meet variable application needs by enhancing strength and resistance to moisture. Growth in international trade and logistics acts as a catalyst to increase demand for effective packaging solutions.
The focus on sustainability and development of recyclable and eco-friendly jumbo bags are in tune with emerging environmental regulations. The growth in industrial activities and infrastructure projects across the world further enhances the demand for PE jumbo bags.
Global PE Jumbo Bags Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.8 billion |
| Estimated Size, 2021 | USD 1.9 billion |
| Projected Size, 2031 | USD 2.7 billion |
| Value-based CAGR (2021 to 2031) | 3.8% |
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As polyethene is a thermoplastic material created by polymerizing propylene and has no negative impact on the environment. It is a heavier duty material that can resist significantly greater weights and prevents leaks, dust and moisture from entering the bag, both solid and liquid items are packaged in PE jumbo bags.
Additionally, its liners make bulk bags practically impermeable, preventing contamination. PE jumbo bags are moisture resistant, UV resistant and also comes in various types such as open to, sprout top, duffle top. Jumbo bags are also custom made according to the requirements of the end-user.
All of these characteristics have led to an increase in its use in a variety of industries for better storage. Another aspect driving market expansion is the reusability of PE Jumbo bags. Furthermore, the target market's expansion is likely to be aided by the availability of numerous types of PE jumbo bags over the forecast period.
North America is likely to account for a significant percentage of the PE jumbo bag market shortly. PE jumbo bags are in high demand in the United States and Canada, because of an increasing push toward sustainability among the population.
Furthermore, substantial developments in the PE jumbo bags market have been made as a consequence of growing technical breakthroughs and R&D initiatives by key manufacturers in the United States and Canada to develop environmentally friendly packaging materials.
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Europe accounts for a sizable market share of the PE jumbo bag market, thanks to the region's rising desire for uniform packaging, which has fueled demand for PE jumbo bags. Additionally, the presence of leading manufacturers benefits the PE jumbo bag market.
China is the world's largest chemical producer, accounting for a significant share in the global chemical sales. The chemical sector is a substantial portion of the numerous end-use industries that use PE jumbo bags. As the chemical industry expands, it drives the demand for PE jumbo bags all around the world.
Moreover, the need for PE jumbo bags is being driven by the growing desire for flexible packaging in bulk material transportation.
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Some key manufacturers operating the business in the PE jumbo bags market globally include
From a manufacturing standpoint, PE jumbo bags with a U-Panel design aid in obtaining economies of scale. The U-Panel PE jumbo bags are designed in such a way that they keep their square shape when filled. Furthermore, this functionality aids many end-user companies in meeting their bulk filling and packaging requirements.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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PE Jumbo Bags Market
