Market Players Introduce the Line of Novel Sustainable Woven Bags and Sacks Aligned with the Present Green Wave. FMI Forecasts US$ 6.1 billion Valuation of Polypropylene Woven Bag and Sack Market by 2034
NEWARK, DE / ACCESSWIRE / July 16, 2024 / The global polypropylene (PP) woven bag and sack market value is expected to rise from US$ 4.0 billion in 2024 to US$ 6.1 billion by 2034. This estimated growth is expected to be driven by a consistent CAGR of 4.2% in the polypropylene woven bag and sack industry over the next decade.
Polypropylene woven bags and sacks manufacturers are responding to the increasing demand for PP woven bags and sacks from multiple industries like chemicals, edifice and construction, and food by increasing their production volumes of woven sacks. However, their primary use still lies in flood control, farm product packaging, food packaging, geotechnical packaging, etc.
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Producers are further expanding the line of novel sustainable woven bags and satchels that are long-lasting and ecologically friendly as an increasing count of businesses are committing to lower carbon footprint to reduce their impact on the environment.
Industry participants can also be seen leveraging the revenue prospects in warehouse applications for spices, detergents, and facility materials. Furthermore, PP woven bags and sacks have a high appeal among end users due to their printability, affordability, and customizability to meet buyer requirements.
The soaring sales of polypropylene woven bags and sacks can also be attributed to the fact that the polymer that is made from monomer propylene is used for several acids and chemical solvents. The global plastic packaging market primarily includes packaging for food and beverages, which accounts for nearly 70% of packaging which is processed by polymers, the remaining 30% of polymer packaging covers cosmetics, chemicals & fertilizers, and medical products.
Key Takeaways from the Polypropylene Woven Bag and Sack Market Report
The global polypropylene woven bag and sack market accumulated revenue worth US$ US$ 3.8 billion in 2023. During the historical period, the market experienced a growth rate of 4%.
By bag type, the laminated segment is projected to acquire a share of 54.5% in 2024.
Based on end-use, the building and construction industry is forecast to grab 28% in 2024.
In North America, the United States is anticipated to exhibit a CAGR of 3.7% through 2034.
Germany is a prominent player in Europe, expanding at a CAGR of 3.1% from 2024 to 2034.
In the Asia Pacific, India is estimated to expand at a higher growth rate of 5% in the next ten years.
"Industry participants are expected to cash in on opportunities emerging in developing countries and warehouse applications," says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
What Factors are Influencing the Polypropylene Woven Bags and Sacks Market?
The polypropylene woven bags and sacks market is expected to witness sustained growth over the forecast period. Furthermore, the polypropylene woven bags and sacks market growth is likely to be driven by favorable growth in the packaging industry.
Developing economies, the rising population, and the subsequent disposable income of people are some other factors presenting numerous polypropylene woven bags and sacks market opportunities. The demand for polypropylene woven bags and sacks is on the surge as they are used for packaging a range of products like fertilizers, sugar, cashew nuts, chemicals, maize, animal feeds, and numerous other products.
The polypropylene woven bags and sacks market trends are shaped by manufacturers producing biodegradable bio-based polypropylene woven bags and sacks, which can be easily recycled so that they do not pose a risk to the environment.
Multinational companies are expected to focus on the Middle-East region as huge demand for polypropylene woven bags and sacks is expected from the construction and building industry of the region. However, sales of polypropylene woven bags and sacks across agricultural industries are anticipated to overshadow sales in the construction and building industry.
Factors such as environment, strength, and cost continue to dwarf polypropylene woven bags and sacks from its non-laminated polypropylene woven bags and sacks. The existing regulatory framework regarding the manufacturing and usage of polypropylene woven bags and sacks is expected to negatively impact the polypropylene woven bags and sacks market outlook in developed regions such as Europe and the U.S.
Competitive Landscape
Market players are concentrating their efforts on developing new and better products and concentrating on certain niches like food packaging, bags for hazardous materials, or medical applications to gain a competitive edge. Industry participants are further increasing their production capacity, coming into mergers and acquisitions, and widening their geographic expansion to meet the surging consumer demand.
Competitors in the market are further investing in automation and technology to streamline their production processes, enhance quality control, and lower their expenditures. Simultaneously, they are establishing strong bonds with distributors and suppliers to ascertain a constant flow of raw materials and timely product delivery.
Recent Advancements in the Polypropylene Woven Bag and Sack Market
In November 2022, Jaidayal Hitex, a Varanasi-based producer and specialist in the manufacturing of eco-friendly PP bags, announced an addition to Convertex CL 140 from W&H to produce AD proTex block bottom bags. The company has been able to accomplish a quality benchmark production in its Varanasi plant.
In December 2022, Suraj Logistix adopted sustainability solutions for cement packaging, with innovative lightweighting done by 25% PIR and W&H AD Protex sack concept. At the time of this news release, the company was equipped with an annual capacity of 50,000 metric tons of woven sacks.
Manufacturers of Polypropylene Woven Bags and Sacks
Berry Plastics Inc.
Da Nang Plastic Joint Stock Company
Shrijikrupa Polypack Pvt. Ltd.
Abdos Polymers Ltd.
Umasree Texplast
STPGroup
Hanoi Plastic Bag JSC.
Mondi plc
Others
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Polypropylene Woven Bag and Sack Industry by Category
By Type:
Uncoated
Laminated (Coated)
Gusset
BOPP bags
Perforated
Liner Woven Bags & Sacks
Small Bags
EZ Open Bag
Valve Bag
By End Use:
Building and Construction
Pharmaceuticals
Fertilizers
Chemicals
Sugar
Polymers
Agro
Others
By Distribution Channel:
Supermarkets
Hypermarkets
Convenience Stores
Others
By Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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SOURCE: Future Market Insights Inc.
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