The increasing demand for reflective airbags in the market is attributed to their pivotal role in ensuring the protection and safe transportation of products, particularly in the rapidly growing food and beverage, pharmaceutical, and electronic industries. Reflective air bags are favored for their ability to provide cushioning and lamination, offering a protective shield to the packaged products.
What sets reflective air bags apart is their lightweight and flexible nature, allowing them to accommodate various product forms within the same packaging format. This feature not only enhances product safety but also significantly reduces shipping costs due to their lightweight composition.
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Moreover, reflective air bags boast temperature control capabilities, preserving the chemical and structural integrity of the enclosed products. These attributes make them the packaging solution of choice in the burgeoning e-commerce sector, where the safety and security of goods during transit are paramount.
As a result, the reflective air bags industry is witnessing heightened demand, driven by the necessity for ensuring product integrity and security, especially in an ever-expanding and evolving global market.
Market Dynamics:
Drivers:
A reflective air bag is able to maintain a chilled cold chain for a while (minimum 24 hours) and offer protection for the inside-products with cushioning. Additionally, these reflective air bags are leak-resistant, waterproof, fold flat and create spaces for storage. These are some of the key factors which are driving the reflective air bags market’s growth in the industry.
Restraints:
Being a metal-foil based air bag, the bag is comparatively costly than other products which might hamper the growth of reflective air bags industry in future.
Opportunities
Demand from Third Party Logistics to Augment the Sales of Reflective Air Bags
Reflective air bags market is witnessing an increasing growth day by day due to the growth of the e-commerce industry. Reflective air bags are being widely used in the e-commerce industry and third party logistics service sector. Players associated with third-party logistics services, mainly focus on warehousing, storing and transportation process. All the players of third party logistic providing services are adopting these reflecting air bags rapidly as packaging solutions as these bags minimize the transportation costs of the manufacturing companies due to its lightweight property. The growing demand from the third-party logistics service sector is anticipated to propel the growth of reflective air bags industry globally in the future.
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Industrial Growth is Opening the Door for Reflective Bags industry to Grow
Reflective air bags are being extensively used for packing consumer-durable products that in turn is augmenting the demand reflective air bags during the forecast period. The hiking growth rates of food & beverage industry, pharmaceutical industry are influencing the production rate of reflective air bags as these bags are equipped with the capability of controlling temperature inside the packaging solution which helps in maintaining the chemical and structural integrity of the inside product. Furthermore, reflective air bag is used as a packaging solution in the automobile sector which is anticipated to escalate the growth of reflective air bags market in near future.
COVID-19 Impact:
The sudden outbreak of COVID-19 has created obstacles for various industries. Majorly all the industrial sectors are facing challenges to grow due to the implemented lockdown and social distancing rule across the globe which ultimately has affected the industries negatively. Food & beverage, automotive and other sectors are experiencing declined growth rates due to the interruption in the supply chain management system. On the contrary, the pharmaceutical industry and electronics and electrical industry have witnessed inclined growth rates because of the speeding infection and trend of “work from home”. But the overall market’s growth will depend on the severity and duration of the pandemic situation.
Regional Outlook:
North America is expected to lead the reflective air bags industry due to the massive growth of the pharmaceutical industry and cosmetic & personal care sector. Europe is anticipated to witness a slightly declined growth rate owing to its maturity.
Asia Pacific region is expected to register the highest return on growth among all the regions because of the growth of e-commercial sector and food & beverage industry in developing nations like China, India and Japan. Latin America and Middle East & Africa regions reflective air bags markets are expected to witness slow growth rates due to the negligible growth in industrial sectors present in these regions.
Key Players:
- Hydropac
- Swicofil AG
- Insulated Products Corporation
- Packman Packaging Private Limited
- TP Solutions
- Nordic Cold Chain Solutions
Report Highlights:
- A detailed overview of the reflective air bags market
- Changing reflective air bags dynamics in the industry
- In-depth reflective air bags segmentation
- Historical, current, and projected reflective air bags size regarding volume and value
- Recent industry trends and developments in the reflective air bags
- Competitive landscape of the reflective air bags
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on reflective air bags performance
- Must-have information for reflective air bags players to sustain and enhance their market footprint
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Market Segmentation:
By function :
- Void Fill
- Cushioning
By distribution channel :
- Automotive
- Chemical
- Agriculture
- Oil and Gas
- Research and Development
- Others
By end-use :
- Food
- Beverages
- Electronics & semi-conductor
- Pharmaceutical
- Industrial goods
- Automotive parts
Author
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.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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