Acumen Research and Consulting, Recently Published Report On “Bulk Container Packaging Market Size, Share, Trends, Growth Opportunity and Forecast 2019-2026”.
LOS ANGELES, July 22, 2019 (GLOBE NEWSWIRE) — The global bulk container packaging market size is estimated to grow at CAGR above 7 % over the forecast time frame 2019 to 2026 and reach the market value around US$ 6.5 billion by 2026.
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One of the main factors that drives the global size of bulk container packaging industry over the timeframe is the growing consumable oil exportations from SEA, especially Malaysia and Indonesia. Indonesia, for example, exported over 14 million tonnes of palm oil in 2007 and in 2013 amounted to approximately 20 million. Moreover, due to their elevated operational efficiency and low price, over 30 percent of the total oil exports from Southeast Asia were made through flexitanks.
Petroleum exporters prefer flexitank tanks, which helps increase the profit margin by lowering operating costs. In addition to the bulk packaging container industry, increasing demand in palm oil from Europe, India and China will be complementary for the projected period. Furthermore, the increased manufacturing of biological fuel globally will further increase the demand for products for transportation apps due to their environmental friendly features and public support. This will increase the worldwide size of packaging for bulk containers by 2026.
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Because of the high effectiveness and superior contamination protection, flexitanks are commonly preferred in food grades like malts, edible oil and fruit concentrate, transport of drinks and non-hazardous chemicals. In comparison with prevalent replacements, barrels and drums, these tanks give added value. It is easy to dispose of and, as with tank containers and barrels, there are therefore no related cleaning costs. This reduces the danger of contamination of the item. Flexitanks can also be able to transport more than 20 times the amount of liquid at the same cost as other substitutes. The petrochemical derivatives are major raw materials, including PE or PP used in bulk container packaging, so comparable price dynamics affect the sector. Over the projected era, oscillated price trends of crude oil will probably hamper the worldwide size of company. In 2010 for example the PP cost was approximately 0.75 USD / kg and in 2012 was almost 0.90 USD / kg.
Increasing Southeast Asian edible oil and increasing international bulk wine trade will increase sector development by 2026. In addition to other substitute products available in the sector, greater performance rates for flexitanks ‘ price and activities will complement the development of sector further in the coming years. The volatile developments in crude oil prices can hinder the growth rates of the sector up to 2026 as the sector follows the same dynamic prices. Because of its superior characteristics as opposed to the prevailing counterparts in the sector, flexitank is projected to be the fastest increasing segment by 2026. North America accounted for the highest share in 2018 regionally owing to its huge worldwide food trade.
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Key Players & Strategies
In 2018, the total market share for bulk container packaging was strongly consolidated, with three manufacturers representing more than 50% of total industry. BLT Flexitank Industrial Co is one of the leading producers, Braid Logistics, Qingdao LAF Packaging, KriCon, Büscherhoff Spezialverpackung, SIA Flexitanks, MY Flexitank (MYF), Trust Flexitanks, Qingdao LAF Packaging, K Tank Supply Limited, and Trust Flexitanks.
Major suppliers of products, such as BLT flexitanks, are in the sector at various phases. In addition, several product companies introduce goods with environmentally friendly characteristics to gain a foothold over their rivals. For example, 100% virgin polyethylene VLDPE is produced by SIA Flexitank. The flexitank is therefore distressed, washed and reconstituted into pellets that can be used further to build fresh products.
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