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Driven by shifting consumer preference from traditional packaging products to stand-up pouches and re-closable packaging, the flexible plastic packaging market is forecast to reach valuation of US$ 98 Billion by the end of 2021, finds Future Market Insights (FMI) in a study

The flexible plastic packaging market with its material segment, product segment, and packaging segment will generate sales of over 33.6 million tons in 2021, according to the annual market analysis conducted by Future Market Insights.

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Rising urbanization and busy lifestyle have fueled the demand for convenient and fast foods, thus leading to increase in demand for flexible packaging. These packaging solutions are preferred over hard packaging as they require less energy for production, consume limited resources, readily available and are convenient to store and use.

Consumers are shifting towards buying packaged and processed food items rather than using traditional approach to preparing meals thus boosting the demand for flexible plastic packaging.

The Natural Resources Defense Council reported that Americans waste more than 400 pounds of food per person every year. The wasted food results in generating pollution equivalent to 37 million cars per year.

Flexible plastic packaging is emerging as a key solution to avoid food wastage as it improves shelf-life of the product as well as creates high barrier reducing the contamination of food. This method reduces the storing and shipping expenses. These factors will positively influence the sales of flexible plastic packaging.

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Increasing government funding towards developing bio-plastics and improving the recycling infrastructure for efficient processing along growing awareness among consumers regarding the use of sustainable packaging will boost the flexible plastic packaging market growth in upcoming years.

Flexible plastics packaging is replacing rigid packaging owing to its highest sustainability benefits and Superior quality to provide in-transit protection to products. Increasing focus by market players on converting old packaging into new packaging formats, or a host of other products will create opportunities for market growth over the forecast period.

Key Takeaways from FMI’s Flexible Plastic Packaging Market Study

• North America flexible plastic packaging market will grow at 3.0% CAGR during the assessment period owing to thriving e-commerce industry and increasing demand for convenient packaging solutions from restaurants and food services.
• Europe market will exhibit a growth rate of 2.6% CAGR from 2021 to 2031, driven by increasing research on developing flexible bio-plastics and elevated export and production of flexible plastic packaging in the region.
• Japan will hold more than 14% of the East Asia market in 2021, backed by increasing development in recycling infrastructure and limited usage of non-biodegradable plastics in the country.
• Polylactic acid (PLA) bioplastics are gaining traction owing to their superior durability, recyclability and lightweight nature. The segment is predicted to expand by 1.11x of its current valuation over the assessment period.
• General barrier packaging will account for more than 80% of the global market share by the end of 2031. Increasing demand for safe and sterile packaging options for packing vegetables and fruits will be the key growth driver.

“Rising usage of flexible plastic packaging in online retail and e-commerce industry and increasing consumer reliance on online delivery of essential products especially during pandemic will drive the flexible plastic packaging market growth over the forecast period,” says the FMI analyst.

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Competitive Landscape

Leading market players are focusing on new product development to expand their product portfolio and penetrate new markets. They are also working towards devising new methods for sustainable packaging to gain the competitive edge in flexible plastic packaging market.

For instance, in 2021, ThyssenKrupp’s plant engineering business won another order to construct a new bioplastics plant in South China. The plant will be based on patented PLAneo technology and is predicted to produce 30,000 tons of polylactide (PLA) annually.

In January 2021, Yum China which holds mahor stakes in leading fast food joints in China launched plastic reduction and sustainable packaging initiatives and aims to 30% reduction non-degradable plastic packaging weight in next five years.

Prominent players operating in the flexible plastic packaging market are:-

• Amcor Plc
• Sealed Air Corporation
• Berry Global Inc
• Winpak Ltd.
• Sonoco Products Company

More Insights On The Global Flexible Plastic Packaging Market

In its latest report, FMI offers an unbiased analysis of the global flexible plastic packaging market, providing historical data for the period of 2018-2028 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material type (oil base polymers and bio-plastics), product type (pouches, bags & sacks, tubes, sleeve labels, and films & wraps), packaging type (VSP (vacuum skin packaging), MAP (modified atmospheric packaging), and general barrier), end use (food, beverages, personal care, homecare, pharmaceuticals, industrial packaging, and others), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).

Ball Grid Array (BGA) Packaging Market Overview

Surface mount technology also called as SMT is a technique of mounting electronic components on the surface of printed circuit boards. Ball Grid Array also called as BGA is one of the types of surface mount packaging. BGA are more convenient and robust type of packages compared to the conventional packaging such as quad flat packaging.

The BGA are usually used widely in high-performance applications where high electrical and the thermal requirement is a top priority. BGA are available in plastic, ceramic and tape type of materials. The plastic BGA and thermally enhanced BGA are widely adopted.

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The BGA has enhanced ratio between PCB area and pin count due to the input and output connections. Besides, the solder balls are strong than the conventional packaging, provides reduced footprint, increased speed yield of integrated circuits. The global BGA market is expected to grow during the forecast period due growth in the system on the package.

The BGA market is driven rapidly due to its low cost, denser type of packing and also higher performance. The increasing demand for diverse and smaller size packaging from electronic OEM’s drives the global BGA market. Also, increasing semiconductor and IC chip industry drives the global BGA market.

However, the challenges in designing of BGA are critical which might restrain the global BGA market.

The global BGA market is geographically divided into five key regions including North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA).Asia Pacific, especially China, Taiwan, Hong Kong, Japan contributes majorly to the BGA market. The semiconductor industry in Asian countries has the strong foothold, thus it is expected that BGA market will show strong growth during the forecast period. Followed by APAC are North America, Europe, Latin America and MEA.

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Ball Grid Array (BGA) Packaging Market – Major Players:

Some of the key players identified in the global BGA packaging market are Amkor Technology, TriQuint Semiconductor Inc., Jiangsu Changjiang Electronics Technology Co. STATS ChipPAC Ltd., ASE Group, Advanced Semiconductor Engineering, Inc., PARPRO, etc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.

The report covers exhaustive analysis on:

Market Segments Market Dynamics Market Size Supply & Demand Current Trends/Issues/Challenges Competition & Companies involved Technology Value Chain

For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-2038

Regional analysis includes

North America Latin America Europe Asia Pacific Middle East and Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and geographies.

Ball Grid Array Bga Packaging Market

The global BGA market is segmented on the basis material type and BGA type.

Based on the material type of BGA, global BGA market is segmented into:

Ceramic/ (CBGA) Plastic/ (PBGA) Tape/ (TBGA)

Based on the type of BGA, global BGA market is segmented into:

Molded Array Process BGA Thermally Enhanced BGA Package on Package (PoP) BGA Micro BGA

Flip Top Caps And Closures Market Overview

Consumer perception of packaging is slowly changing. Attractive packaging is gaining more popularity among consumers, which has resulted in development of more innovative and attractive packaging designs by the manufacturers. Flip top caps and closures are clean and effective in controlling flow of liquid, allow direction pouring of the product for consumer friendly experience and are also ideal for dispensing higher viscosity product such as cream, milk as well as liquid condiments, spices and seasoning. Flip top caps and closures are attractive in comparison to traditional caps and closures, and this is expected to be one of the important factors that can drive the growth in the global flip top caps and closures market in the future.

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Global Flip Top Caps and Closures Market: Dynamics

Flip top caps and closures market is gaining traction owing to rising manufacturing output globally, increasing consumer spending on quality and innovative products. Additionally, availability of wide range of flip top caps and closures which fit bottles, jars, and tubes etc. is expected to further fuel the growth in the flip top caps and closures market and screw on flip top caps is expected to gain significant market share in coming years.

Gaining in flip top caps and closures market will be supported by continuous growth in pharmaceuticals, cosmetics and personal care industry. Flip top caps and closures are easy fluid dispensing which make it convenient for consumer to use product.

Global Flip Top Caps and Closures Market: Segmentation

The global flip top caps and closures market can be segmented on the basis of material used, application, and region. On the basis of material type, the global flip top caps and closures market can be segmented into plastic, metal and others (rubber and elastomers).

Plastic, flip top caps and closures segment can be further sub-segmented into Polypropylene, Polyethylene, Polystyrene, and other resins. Metal, flip top caps and closures segment can be further sub-segmented into aluminum and steel. Plastic flip top caps and closures are most preferable among both manufacturers as well as consumers owing to the durable and flexible properties of plastic material. Among other materials, aluminum material is also preferred by the end user.

On the basis of application global flip top caps and closures market can be segmented into beverages, foods, toiletries, cosmetics and personal care products, pharmaceuticals, industrial chemicals, automotive and others. Based on application, cosmetics and personal care products are most lucrative application in the global flip top caps and closures market. On the basis of region, global flip top caps and closures market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East and Africa.

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Global Flip Top Caps and Closures Market: Regional Overview

Overall, the most rapid increase in global flip top caps and closures demand is expected to occur in the developing regions. Asia Pacific region is expected to be the fastest growing region as compared to other regions owing to increasing manufacturing sector in this region. The Europe and North America markets are highly mature with high presence of established players.

The global flip top caps and closures market is expected to witness healthy growth in near future driven by increasing disposable income together with widening consumer base. These factors has also led to increased investment by companies engaged in manufacturing and distribution of flip top caps and closures in various regions. MEA and Latin America are expected to witness moderate growth in flip top caps and closures market over the forecast period.

Global Flip Top Caps and Closures Market: Key Players

The main player of flip top caps and closures market are Blackhawk Molding Company Incorporated, Amcor, BERICAP holdings, Global Closure Systems, Crown Holdings, Siligan Holdings, Reynolds Group Holdings, Closure Systems International, Oriental Containers, Guala Closures Group, Berry Plastics, Pelliconi, Premier Vinyl Solution, and others.

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments such as application, material, printing technology and geographies.

Tamper Evident Packaging Market Overview

Packaging in today’s world calls for a multi-functional approach of the designing of the product. With the race to reduce the overall cost of production, manufacturers have innovated with the packaging design. This has led to a shift to flexible packaging, low use of material, low cost of storage and low transport cost. In this day and age another functionality that manufacturers need to take into account is safety. With the on the go lifestyle settling in, people expect the products they have purchased to be safe to consume.

The rising awareness among consumers and stringent regulations laid down by national and international authorities on the safety of product packaging has led to a shift in design. Deliberate or unintentional tampering of food products has been witnessed in the past leading to catastrophic events which required a more careful approach to packaging. This has led to the advent of tamper evident packaging.

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Tamper evident packaging allows for the observer to identify whether the package has been tampered with or not. The indicators are either visual or audible. The indicators are usually mentioned on the packaging for the observer’s convenience. Tamper evident packaging is now also being adopted by the food and beverages, cosmetics industry, and the healthcare industry.

Tamper evident packaging Market- Market Dynamics:

With the scare from the Tylenol scandal in 1982 that led to the death of 7 people due to poisoning the Food and Drug Administration has strictly enforced tamper evident packaging for pharmaceutical manufacturers. With the exponential growth witnessed by the pharmaceutical industry, tamper evident packaging market is pegged for steady growth throughout the forecast period of 2016 – 2024.

Food and beverages industry and the cosmetics industry have also picked up on tamper evident packaging due to the rising safety concerns. The ever growing food and beverage industry will positively impact the tamper evident packaging market. However, the stringent regulations specifically in the pharmaceutical industry call for the testing of tamper evident packaging and the adherence of the packaging to guidelines that have been laid down. This is likely to negatively impact the tamper evident packaging market growth.

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Tamper evident packaging Market- Regional Outlook:

In terms of geography, the tamper evident packaging market has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The tamper evident packaging market is expected to exhibit an above average CAGR during the forecast period. Asia pacific market is expected to witness a raise in demand in the region. As a result, tamper evident packaging is pegged to witness a growth in demand in the forecasted period.

Tamper evident packaging Market- Major Players:

Some of the key players in the tamper evident packaging market are DuPont, Schreiner Group, Ampac Holding LLC., Baker & McKenzie LLP, Placon, Dynacorp, Enercon industries Corporation, Traco Manufacturing, Inc., Interpack Ltd., Seal King Europe, Harcor.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Tamper evident packaging Market- Market Segmentation:

Based on the product type, the tamper evident packaging market is segmented into

• Shrink sleeves
• Induction seal
• Film wrappers
• Blister or strip packs
• Bubble packs
• Others (Pouches, bottle mouth inner seals, tape seals)

Based on the end use, the tamper evident packaging market is segmented into:

• Vacuum
• Pharmaceutical
• Food and beverages
• Cosmetics
• others

Based on the Material type, the tamper evident packaging market is segmented into:

• plastics
• glass
• paper lids
• metal
• others

The US$ 3.7 billion décor paper market is likely to witness an uptick by 5.5% in 2019, according to a recent analytical study presented by Future Market Insights (FMI). Print base paper will continue to sell highest, accounting for almost half of the global revenue. Absorbent kraft paper also holds a sizeable share in the market value, however the report foresees a moderate rate of growth in the demand for absorbent kraft paper in coming years.

Escalating décor paper consumption by the furniture industry is cited as a preeminent factor determining sales, followed by that in flooring and paneling sectors. Furniture industry prominently boosts sales of low-pressure laminates that are attributed to robust growth of the domestic furniture sector. According to FMI’s end use analysis of décor paper market, almost 60% of the total furniture sold is household, which is likely to push demand for low-pressure laminates further.

Europe’s lead in the décor paper market is strongly backed by the flourishing application scenario for décor, flooring, and paneling. FMI envisages that European consumers will account for more than 30% share in the total market value. However, it also points to the healthy demand growth in developing economies within Asian, African, and Middle Eastern regions.

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Despite accounting for a mere 4% share in the paper and paperboard production landscape, décor paper market has been observing healthy demand growth recently. FMI attributes this growth to the overall promising trade scenario and mounting consumer preference for aesthetically appealing furniture and décor items. Progressing production scenario of decorative plywood and veneer sheets is benefiting the growth of woodworking sector, thereby favoring sales of décor paper. With visibly improving scope of laminate flooring sector in both developed and developing economies, it is more likely that a range of décor paper will gain ground in coming years.

Leading manufacturers of décor paper are currently strategizing on upgrading aesthetics to cater to evolving specification demands from customers. However, the report opines that primary focal point will be on strategic acquisitions and collaborations.

Schoeller Technocell GmbH & Co. KG, one of the market leaders, recently announced the acquisition of Calfornia’s Alameda Co. The former is also investing efforts in expansion across Chinese market for décor paper by collaborating with China’s leading pulp and paper industry operators. Schoeller Technocell recently joined forces with Welbon Group, China’s recognized pulp and specialty paper manufacturer.

Finland-based Ahlstrom-Munksjö Oyj maintains the strategic focus on M&A, the latest of which is acquisition of Brazilian specialty paper manufacturer, MD Papeis’ Caieiras specialty paper mill. As a part of the expansion strategy across North America, the former recently acquired another specialty paper manufacturer – Expera Specialty Solutions.

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Neodecortech S.p.A. recently completed the acquisition of CORBETTA FIA s.r.l.’s laminate production arm. More recently, Schattdecor Group announced acquisition of the US-based Coating Company of Lexington, SC.

On the basis of basis weight

• less than 65 gsm
• 65-80 gsm
• 81-100 gsm
• above 100 gsm

On the basis of product type

• absorbent Kraft paper
• print base paper
• other decor papers

On the basis of application

• low-pressure laminates
• high-pressure laminates
• edge banding papers

On the basis of end use

• furniture & cabinets
• flooring
• panelling
• store fixture

Geographical Segmentation of the Decor Paper Market

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Western Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific Excluding Japan
  • China
  • India
  • ASEAN
  • Australia & NZ
  • Rest of APEJ
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Israel
  • Turkey
  • Egypt
  • Rest of MEA
• Japan

Explore wide-ranging Coverage of FMI’s Packaging Market Insights Landscape

Pharmaceutical Cold Chain Packaging Market – 2021 Analysis and Review: Pharmaceutical Cold Chain Packaging Market by Product – Small Boxes, Pallets, and Large Sized Pallet Containers for 2021-2031

Edible Oil Packaging Market – 2021 Analysis and Review: Edible Oil Packaging Market by Material – Plastic, Glass, Metal (Aluminium), and Paper for 2021 – 2031

Plastic Corrugated Sheets Market – 2021 Analysis and Review: Plastic Corrugated Sheets Market by Material Type – Polyethylene (PE), and Polypropylene (PP) for 2021 – 2031

Expanding at a robust growth rate of 6.8 percent, the global demand for bulk chemical packaging is estimated to reach a valuation of approximately US$ 10.7 Billion, in 2019, as per a recently published study Future Market Insights (FMI) on the global packaging landscape for bulk chemicals. Bulk chemicals, also called commodity chemicals, have witnessed a surge in demand given its wide application in a host of end-use industries such as healthcare, food processing, construction, and automotive.

“The global trade of bulk chemical products has increased many fold in the past two decades, pushing non-traditional chemical manufacturers to use bulk containers to address packaging demands. Some of these industries include bio-chemical manufacturers, specialty chemical manufacturers, and food grade ingredient manufacturers.

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Holistically, the strong performance of the chemicals industry, both commodity and specialty subsectors, can safely be attributed to the industry’s increased productivity over time and China’s substantial economic growth in the last two decades. Chemical industry’s promising future, will positively impact the bulk chemical packaging landscape, in the coming years”, explained a senior analyst.

Key Demand-Driving Factors Include:

• Growing adoption of better performing and cost-effective larger containers versus smaller containers having short service life along with increasing shale gas explorations in U.S apart from other gas drilling and refining activities will drive more investments in chemical production, thereby, increasing the demand for bulk chemical packaging products across the globe.
• Intermediate bulk containers (IBC) and drums are expected to experience the fastest growth through 2019, as per the report, given its advantages of cost effectiveness and reusability. However, among the global bulk chemical packaging market’s product type, drums will remain the most preferred packaging product, with nearly 83 percent revenue share.
• The global bulk chemical packaging market is also reflecting product customization trends to suit the end-user requirements. Increased storage capacity, longer service life that allows large scale industrial customers to gauge the substantial long-term cost benefits, are some key considerations companies are making.
• Apart from dimensions, companies in the bulk chemical packaging market are also offering light weight and cost-competitive products compared to the more conventional steel drums. In addition, material enhancements to make bulk chemical packaging products corrosion and impact resistant are also being deployed.

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Supply Chain Complexities and Fluctuating Raw Material Prices Still a Major Concern

Despite the strong growth outlook projected for bulk chemicals packaging landscape, supply chain complexities that places the packaging manufacturers a couple of nodes away from end-consumers often results in lack of flexibility and agility among packaging manufacturers. Moreover, lack of processes and a seamless supply chain management, specifically among companies operating in chemical packaging sector, translates into a slower supply chain information process and customer-specific needs rarely communicated to manufactures in bulk chemicals packaging landscape.

Escalation in the raw material prices in addition to other input costs arising from lack of imports has increased prices of the bulk containers—exemplified by price hike of steel drums by Greif, Inc, a key manufacturer in bulk chemicals packaging market. This could remain a limiting factor against the growing demand for bulk chemicals packaging in the coming years, further limiting the profitability for the manufacturers.

Elaborating on the trends projected to drive bulk chemicals packaging product innovations, the FMI analyst further adds, “Apart from dimensions and material customizations, manufactures, particularly in U.S have developed innovative barrier solutions with logistical and lifecycle benefits.

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The barrier technology is positioned to remain specifically critical for specialty chemicals, further protecting it from contamination. Another trend gaining traction is the RFID technology, for tracing and tracking IBCs emerge as an effective tool to save cost and enhance customer service. In addition, FMI research foresees paradigm shift from traditional sales pattern to e-commerce. Many bulk chemical packaging manufactures are opting for e-retail sales as a core market strategy”.

Bulk Chemical Packaging Market Showcases a Fragmented Landscape

wherein smaller companies account for approximately 60 percent of the total market share, in terms of revenue. As per FMI’s analysis:

• Bargaining power of suppliers is estimated to remain high considering relatively less number of packaging manufacturers compared to specialty chemicals manufactures.
• Threat of substitutes will remain relatively low in the coming years, as IBCs and drums remain the most preferred products for bulk chemicals packaging.
• Although the landscape is relatively fragmented, portfolio restructuring by key companies with dominant presence in U.S has created a highly concentrated structure, further intensifying the competition in bulk chemicals packaging market.

FMI offers an in-depth analysis of the key companies in the bulk chemicals packaging landscape, while evaluation their key market strategies, product offerings, financial and pricing analysis, and recent developments. Some key companies profiled in the report include Greif, Inc., C.L.Smith Company, Schutz Container Systems, Inc., Mauser Group B.V., and Industrial Container Services (ICS) among others.

Regionally, APEJ is expected to dominate the global bulk chemical packaging market, growing at a CAGR of promising CAGR of 8.4 percent through the forecast period of 2018-2028. For a detailed analysis of the regional market scenario, write to us at press@futuremarketinsights.com

About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help

As indicated in a new market research study by Future Market Insights, the roughly US$ 850 million floating covers market is likely to display around 4.5% yearly growth in the revenue, in 2022. The report projects steady revenue growth prospects for global floating covers landscape over the next few years, predominantly driven by sustained demand for an increasing number of wastewater treatment plants.

While agricultural application of floating covers also continues to generate moderate revenue, the demand for floating covers for protecting potable water reservoirs is also cited as an important factor pushing the growth of floating covers market growth.

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Functional Attributes of Floating Covers Account for Steady Demand

Prominently attributed to their low maintenance design and excellent UV tolerance, floating covers continue to witness stable consumption also due to remarkably low permeability and the ability to provide long-term protection to water bodies against environmental adversities and contaminating agents.

A senior market research analyst at FMI explains, “Superior material strength, lightweight nature, economic price point, and exceptional flexibility collectively account for the ideal attributes of floating covers that push their adoption for a range of applications, including prevention of external contamination as well as odor”. “Rapidly increasing awareness about water conservation and prevention of contamination will continue to provide an impetus to the steadily growing demand for floating covers in coming years,” adds the analyst further.

Voluminous industrial wastewater quantity is collected and stored on a daily basis, before the actual treatment process. Manufacturers are thus increasingly targeting wastewater treatment plants that hold high potential to generate demand for specific sizes of floating covers on a regular basis.

In addition, food processing facilities, brewing companies, and chemical treatment and manufacturing units continues to register decent consumption of floating covers, according to research.

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Biodegradability Is Still a Major Concern

Despite the positive growth outlook projected for floating covers landscape, sustainability remains a major concern for both manufacturers and consumers. Floating covers are generally manufactured from plastic-derived materials and take a longer time period for degradation in the environment.

Moreover, complete biodegradability of the key manufacturing materials used in floating covers is still a debatable issue that continues to attract research interests worldwide. This could remain a limiting factor against the growing demand for floating covers over the foreseeable future, says the report.

The report concludes that among linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), Polyvinyl Chloride (PVC), and Polypropylene (PP), it is more likely that HDPE will continue to experience a dominant revenue share over others – attributed to high recyclability of the thermoplastic material compared to all others in the list.

Elaborating on the trends that are dictating marketing and product innovation strategies of floating covers manufacturers, the FMI analyst says, “Apart from customized floating covers, a growing trend of modular floating covers is identified to be shaping the market growth in recent years. Application-specific material innovations is also an important factor influencing the adoption of floating covers worldwide. FMI research foresees growing applicability of floating covers in biogas recovery”.

Floating Covers Market Remains a Fragmented Landscape

The global market for floating covers is a highly fragmented landscape wherein smaller companies account for around 95% share of the total market revenue.

• Maintaining the focal point on consumer convenience, leading manufacturers of floating covers are strategizing product premiumization with an objective to add value to the existing customer base.
• A majority of companies competing in the floating covers marketplace are also concentrating on regional market expansion, especially across developing economies.

Raven Industries Inc., one of the prominent players operating in the global floating covers landscape, recently inked an agreement to strategically acquire Colorado Lining International with an objective to expand the global outreach. The company more recently launched a new production facility in Texas that enables the company to support end-to-end production of floating covers.

The report on floating covers landscape throws light on in-depth company profiles that help evaluate strategies of competitors, their key offerings, financial status, and recent developments. Some of the profiled players include GSE Environmental, Inc., Cooley Group, Nilex Inc., Royal TenCate, Hexa-Cover A/S, FLI France SAS, Industrial & Environmental Concepts, Inc., Aquatan (Pty) Ltd., and Advanced Water Treatment Technologies, besides Raven Industries Inc.

In-depth regional analysis of the global market for floating covers reveals that owing to steadily growing floating covers demand for agricultural, water treatment, and water storage applications, APAC remains the most attractive regional territory for manufacturers of floating covers.

Moreover, Germany and the US continue to drive floating covers market in developed regions, whereas markets across developing economies across Latin America and MEA are likely to demonstrate a promising outlook for market growth.

For additional insights on the regional market scenario and detailed segmental analysis of the floating covers marketplace, reach out to the analyst at press@futuremarketinsights.com

About Packaging Division at Future Market Insights

The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help