cost savings associated with fibc use is driving the Flexible Intermediate Bulk Container Market in North America
Technavio analyzes that the Flexible Intermediate Bulk Container Market in North America is expected to grow at a CAGR of 6.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 84.1 million.There are various factors that contribute to the growth of the market. The utilization of Flexible Intermediate Bulk Containers (FIBCs) in North America offers significant cost savings for businesses. FIBCs' large capacity, reusability, and ability to handle various bulk materials efficiently reduce the need for multiple smaller containers and associated transportation costs. Additionally, the elimination of manual labor for filling and emptying containers further contributes to cost savings. These benefits make FIBCs a cost-effective solution for bulk material handling in North America.
The chemicals sector in North America is a major contributor to the demand for Flexible Intermediate Bulk Containers (FIBCs), given their robustness and safety in handling and transporting both hazardous and non-hazardous materials. FIBCs are extensively utilized in the packaging and transportation of chemicals such as powders, granules, and bulk liquids, owing to their capacity to manage substantial volumes, which usually range from 500 kg to 2,000 kg. Key industries, including petrochemicals, fertilizers, and specialty chemicals, depend on FIBCs for their cost-effectiveness, chemical resistance, and ease of handling within their supply chains. The increasing emphasis on secure handling and transportation of chemicals, as mandated by regulations, is further driving the adoption of UN-approved FIBCs that adhere to international safety standards. These containers are typically constructed with a galvanized steel frame, are reusable and recyclable, and can be made from high-density polyethylene (HDPE) for added durability.
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Flexible Intermediate Bulk Container Market in North America Segmentation
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The Flexible Intermediate Bulk Container (FIBC) market in North America focuses on collapsible, non-rigid storage solutions for dry semi-solid materials such as sand and powders. These containers are made of plastic materials, including woven plastics like woven polypropylene (PP), and can be used for both storage and transport. With capacities ranging from small to large, they are suitable for industrial storage of various goods like sandbags, cement bags, and potato sacks. FIBCs come in various sizes, from big bags to bulk bags, and can be UN approved for transporting hazardous materials. Made of reusable and recyclable materials like high-density polyethylene (HDPE), they offer high storage space efficiency and are an alternative to rigid containers for liquids and solid materials, including those with a galvanized steel frame.
The Flexible Intermediate Bulk Container (FIBC) market in North America experiences significant growth due to the increasing demand for non-rigid storage solutions for dry semi-solids such as sand and powder. These collapsible containers, often made of plastic material or woven plastics, offer flexibility in storage and transportation. The trend toward outsourcing logistics functions has driven the adoption of FIBCs, as they provide a cost-effective and efficient alternative to traditional rigid containers. As businesses seek to streamline operations and reduce costs, the demand for FIBCs is expected to continue growing in the North American market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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