Future Market Insights (FMI) delivers key insights on the global industrial paper sacks market in its published report, titled “Global Industrial Paper Sacks Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.” Globally, the revenue generated from the sales of industrial paper sacks is estimated to be around US$ 5.3 Bn in 2018 and is projected to expand at a CAGR of 4.9%, during the forecast period 2018-2028. This can be attributed to numerous factors, about which Future Market Insights offers thorough insights and forecast in this report.
Industrial paper sacks are made up of bleached or unbleached paper and are usually used for packaging powdered products such as cement, flour, animal feed, coffee, and more. These industrial paper sacks find applications in a variety of end-use industries such as building & construction, food, chemicals, agriculture & allied industries, and other industries. Industrial paper sacks can protect and carry products having weight up to 50 Kilograms and offer printing area on their surface for branding and promotion of the product. Industrial paper sacks are manufactured using multiple layers of paper and can be coated with layers of plastic films to provide a barrier against moisture and gas. This aids in enhancing the shelf life of the packaged products.
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Industrial Paper Sacks Market: FMI Key Findings
Among the various product types, the pinched-bottom open mouth segment in the industrial paper sacks segment is witnessing higher growth and is projected to have a positive outlook during the forecast period. This is the most commonly used type of industrial paper sacks for the packaging of building materials such as cement.
The demand for building materials has increased significantly in recent years. This can be attributed to fast-paced urbanization and high growth in the industrial sector. Multinational companies are setting up manufacturing facilities in developing countries such as India, China, Brazil, and Thailand. This is anticipated to create enormous opportunities for the cement manufacturers in these countries. The tremendous increase in cement production will translate in high demand for industrial paper sacks. The demand for industrial paper sacks is expected to outgrow the demand for plastic sacks due to the growing concerns over the use of plastic globally.
Manufacturers of industrial paper sacks are focusing on enhancing the visual appeal of the sacks. Plastic coatings are used on the outside of these industrial paper sacks to increase the printing finish and ensure that the sacks remain intact during the filling process. Industrial paper sacks can be used for a wide array of products and are available in different sizes and features such as valve, pinch-bottom, SOS sacks, or open mouth.
Emerging Economies Expected to Fuel Demand for Industrial Paper Sacks
The Asia Pacific (excluding India) region has shown impressive growth in the production and consumption of industrial paper sacks, such that it towers over rest of the countries in Europe. The Chinese industrial paper sacks market currently accounts for more than 50% of the Asia Pacific (excluding India) industrial paper sacks consumption alone. North America’s industrial paper sacks market, owing to the increase in demand from the building & construction industry is expected to continue the momentum of growth during the forecast period. The manufacturers of industrial paper sacks are expected to eye the Asia Pacific region for potential business expansion. Therefore, the outlook for the global industrial paper sacks market is expected to be positive during the forecast period.
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Industrial Paper Sacks Market: Key Players
The key players in the global industrial paper sacks market are Mondi Group plc, Smurfit Kappa Group Plc, Klabin SA, WestRock Company, BillerudKorsnäs AB, Gascogne SA, LC Packaging International BV, Simpac Ltd., Edna Group, Essentra Plc., Rosenflex UK Ltd, Novolex Holdings, Inc., Bischof & Klein GmbH & Co. KG, Industrial Development Company sal (Indevco), Segezha Group, Rengo Co., Ltd, Conitex Sonoco Inc., and Forum Packaging Ltd. among others. Many local and unorganized players are expected to contribute to the global industrial paper sacks market during the forecast period.