The global bulk container packaging market stood at US$2.22 billion in 2013 and will reach US$4.21 billion by 2020, increasing at a compound annual growth rate (CAGR) of 9.7% from 2014 to 2020, according to a report by Transparency Market Research.
It finds increasing oil exports from Southeast Asia, combined with the flourishing global wine trade, are projected to fuel the bulk container packaging market.
Moreover, the capacity of flexitanks to carry large volumes of commodities enhances cost and operational efficiency, which will boost the market.
Bulk container packaging constitutes products used for high volume or bulk packaging, which are used for sea, road, or rail transportation.
However, volatile feedstock prices pose a challenge to the growth of this market.
The expansion of the commodity trade in BRIC countries will be favorable for the bulk container packaging market in the years to come.
The report states flexible intermediate bulk containers accounted as the largest product segment of the market in 2013.
The bulk container liners product segment are expected to witness moderate growth and held more than 35% of the market in 2013.
On the other hand, the flexitanks product segment held a smaller share of the overall market in 2013.
However, flexitanks are expected to display the fastest growth, due to their cost-effectiveness and higher operational performance.
By application, the chemicals segment dominated the market and is expected to display a CAGR of more than 9% from 2014 to 2020.
Bulk container packaging is well suited for the transportation of bulk chemicals, since it keeps chemicals isolated.
Food and beverages stood as the second largest application segment of the global bulk container packaging market in 2013, state analysts.
The report finds North America registered a share of more than 30% in the global bulk container packaging market in 2013.
This was mainly due to high demand for FIBC and bulk container liners for export of oilseeds, feeds, corn, and grains in the U.S. and Canada.
By volume, Europe is anticipated to witness moderate growth for bulk container packaging, due to high export of wines.
Among the regional markets, however, Asia Pacific will expand at the highest growth rate, due to escalating exports of bulk chemicals and oils to North America and Europe, adds the report.
The rest of the world is expected to display the second fastest growth rate, due to increasing exports of food products and bulk chemicals.
On the competitive landscape, in 2013, the global bulk container packaging market was controlled by a few key players in the market such as BLT Flexitank Industrial, SIA Flexitanks and Trust Flexitanks.
