Molded Wood Pallets Market Future Trends, Industry Size and Forecast to 2031

Molded wood pallets are 35% lighter than conventional hardwood pallets and are durable enough for reuse, which increases their preference over other molded wood pallets.

As per a new study by Future Market Insights (FMI), molded wood pallets sales will increase at 5.8% CAGR between 2021 and 2031, enabling overall valuation to surpass US$ 4.5 Bn by the end of the assessment period.

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These pallets are made by molding wood waste, wood by-products, and damaged logs, which have decreased their cost of manufacturing. Also, they require less energy than the manufacturing of other pallet types. These factors are expected to increase the demand for molded wood pallets.

The global demand for molded wood pallets is expected to increase owing to an increment in the growth of sustainable and cost-effective products. Molding process wood chips, particles, and other residues increase the strength of pallets. They do not contain screws or cutting edges, which makes these pallets suitable for any type of product.

Convenient manufacturing process, less material sourcing requirement, and sanitization during manufacturing make molded wood pellets cost-effective, as well as lighter when compared to wooden pallets.

Key Takeaways from Molded Wood Pallets Market

  • The demand for nestable/stackable pallets in the packaging industry has increased exponentially in past few years. This growth can be attributed to the increasing shipments oversees. This segment is expected to create incremental opportunity of US$ 1,084.5 Mn in coming decade.
  • Molded wood pallets of full size is gaining traction among end users. This segment is forecast to increase by 240 bps of current market share and reach up to 76.3% in 2031.
  • Increasing logistics & transportation have fuelled the demand in the packaging industry. This segment is forecast to expand 1.9 times the current market share during the forecasted period.
  • Across the global market, consumption of molded wood pallets is expected to remain high in the European and North American countries, due to the presence of key players and the availability of technologically advanced and innovative packaging solutions.
  • Demand in the East Asian countries also is increasing at a rapid pace on account of the expansion of the manufacturing sector.

Impact of COVID-19 on Molded Wood Pallets Market

COVID-19 pandemic has impacted various business environments. The social distancing and workplace shutdowns created new challenges to the business world that continues to adapt to the current challenges and operate in the post-Covid situation. Molded wood pallets play a crucial supporting role in the smooth running of the supply chain.

According to Litco International Inc, despite decelerating activities across various industries, the demand for pellets continued to rise on account of increasing logistic shipments.

With the social distancing and hygienic workplace rules, the demand for the sanitized workplace has been ramped up. Molded wood pallets are gaining traction due to the said conditions which allow retailers to have minimum contact with the product by directly loading the product into the pallet.

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Molded Wood Pallets Market Landscape

Litco International Inc., Millwood Inc, Snyder Industries, Inc, Nefab Group and among others are the prominent players in the global molded wood pallets market. The tier 3 players in the market hold 70-80% in the global molded wood pallets market. In conclusion, key players contribute almost 20-30% of the global demand.

Precision Stainless Steel Market : Value Chain, Stakeholder Analysis and Trends by 2029

The demand witnessed in the global precision stainless steel market is increasing at a rapid pace. With its use across various sectors including industrial, civil, mechanical, and others increasing, Future Market Insights (FMI) has forecast the precision stainless steel market is to reach US$ 3.2 Bn dollars by 2029.

Precision stainless steel comes in many varieties and this feature combined with its easy workability makes it popular among industries. Players are on the lookout for every type of precision stainless steel to design and manufacture their industrial goods.

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As there is a constant rise in the manufacturing of industrial goods, the growth prospect of the precision steel market seems promising. FMI’s study offers a comprehensive overview of the market. It studies the key growth drivers as well as gauges investment feasibility across various segments. Some of the key takeaways from the report are highlighted below.

Key takeaways from the precision stainless steel market:

  • The under 0.1mm category is expected to take up approximately 25% of the global precision stainless steel market. It is also expected to reach 800 million dollars by 2029
  • With precision stainless steel being used for the manufacturing of seamless pipes and tubes, the automotive segment is said to have a strong foothold with a CAGR of 3.8%
  • Precision stainless steel also has its use in the electronics and transportation industry. This guarantees a 2/5th share value in the global market between 2020-2029
  • East Asia is expected to overtake other regions and create an opportunity to reach 388.7 million dollars by 2029
  • By 2029, South Asia is expected to expand by 1.4 times of current market value

“Some of the leading manufacturers operating in the global precision stainless steel market are aiming to capitalize on opportunities prevalent across high potential markets in East Asia. Expansion of automotive sector and construction activities in China, Japan, and South Korea are causing shift of focus among companies from developed to high potential markets,” said FMI analyst.

Demand Likely to Reduce during COVID-19

The global precision stainless steel market has witnessed a reduction in demand for precision stainless steel owing to the pandemic. Covid-19 has caused a disruption in the supply chain of industries across the globe.

Lockdown orders enforced in regions such as Europe, Asia, and North America have hampered production activities in across plants. This heavily impacted the global precision stainless steel market.

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Who is winning?

Top players of precision stainless steel contribute approximately 40-45% to the global market value. Some of the leading key players are Acerinox, Baoshan Iron & Steel Co., AK Steel Corporation, Outokumpu Oyj, Jindal Stainless Group, and Aperam.

These players are trying to cope up with the after-effects of the pandemic and implement new strategies to get back to their production processes.

More Valuable Insights on the Precision Stainless Steel Market:

Future Market Insights (FMI) has provided an unbiased analysis of the precision stainless steel market. FMI has analyzed the global market based on historical data from 2015-2019 and opportunity assessment from 2020-2029. In terms of thickness, the precision steel market is segmented into below 0.1mm and 0.1 mm. On the basis of end-use industry, the market is segmented into food & beverages, automotive, pharmaceuticals, aerospace, building & construction, and others. Regionally, the market can be segmented into North America, Europe, Latin America, MEA, East Asia, South Asia, and Oceania.

Sucrose Acetate Isobutyrate Market 2022 Outlook, Current and Future Industry Landscape Analysis 2027

Sucrose acetate isobutyrate (SAIB) is a combination of the reaction products derived from the process of esterification of food grade sucrose with isobutyric anhydride and acetic anhydride, and final product derivation through distillation. The high-grade ingredient consists wide arrangements of esters in which the chemical/compound ratio of acetate to isobutyrate is around 2:6. Sucrose acetate isobutyrate is a pure liquid food preservative that processed as an emulsifier, which leads to its property to mix water and fat. More precisely, the food additive aids suspend and distribute the flavor oils in a drink. Sucrose acetate isobutyrate is commonly produced by mixing sucrose, basically a sugar, with the additives chemicals isobutyric anhydride and acetic anhydride. Sucrose acetate isobutyrate is neutral but also has a bitter flavor in case it is used in large amounts.

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Sucrose Acetate Isobutyrate Market: Drivers & Restraints

The sucrose acetate isobutyrate market is growing at the faster pace due to its wide range of usage in coatings such as lipstick and lacquers, as it can offer coating of higher nonvolatile content that results in greater coverage and lower solvent requirements. The growth of sucrose acetate isobutyrate is driven by its greater flexibility and property to reduce the glass transition temperature of the film-former. Sucrose acetate has several commercial applications in the food and beverage, cosmetics and painting industries. In addition, sucrose acetate isobutyrate is used predominantly in citrus beverages especially energy drinks as a flavor emulsion stabilizer or weighting agent to prevent separation of essential citrus oils which leads to increase its demand in food and beverages market and consumption rate across the globe. Sucrose acetate isobutyrate plays an important role in maintaining the drink’s flavor which enhances the drinks taste and consumption. The major application of sucrose acetate isobutyrate in drinks and medicine is boosting the growth of the market in coming years.

Sucrose Acetate Isobutyrate Market: Regional Outlook

Regarding geography, tea polyphenols market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Sucrose acetate isobutyrate market is expected to register healthy CAGR during the forecast period due to increasing demand of healthy food market, as Sucrose acetate isobutyrate is used in energy drinks and electrolyte-replacement beverages. In terms of developing region of Asia-Pacific, the growth of Sucrose acetate isobutyrate is significantly high and with comparatively high CAGR in forecast period owed to growing awareness of food additive in the region. Moreover, in certain sports drinks, sucrose acetate isobutyrate replaced brominated vegetable oil, which is a food additive linked to memory loss, skin lesions and nerve disorders which boost the growth of sucrose acetate isobutyrate in North America. Also, North America is experiencing the rapid increase in the production capacity of sucrose acetate isobutyrate as demand for the product in the region is rising at the faster pace. Key factors driving the growth of sucrose acetate isobutyrate market in the region include evolving food additives, rising disposable income, increasing growth of energy drinks market, and high demand for the product category. The sucrose acetate isobutyrate market is projected to register healthy growth due to rising consumption of energy drinks across the globe. Sucrose acetate isobutyrate market for Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of liquid emulsifier industry, especially in China and India.

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Sucrose Acetate Isobutyrate Market: Key Players

Few players identified in the sucrose acetate isobutyrate market are:-

  • Eastman Chemical Company
  • Shanghai Jiulin Industrial Co., Ltd.
  • BOC Sciences
  • Celanese Corporation
  • Simagchem Corp.
  • Penta Manufacturer
  • Shanghai Sunwise Chemical Co., Ltd.
  • 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 and geographies.

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 (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina)
  • Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
  • Eastern Europe (Russia, Poland)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. 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.

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Sucrose Acetate Isobutyrate Market: Market Segmentation

The sucrose acetate isobutyrate market is segmented into three parts based on the forms, application, and geography.

Based on the forms the sucrose acetate isobutyrate market is segmented into:

  • Viscous liquid
  • Semi-Solid
  • Others

Based on the application sucrose acetate isobutyrate market is segmented into:

  • Beverage emulsions – weighting agent
  • Color cosmetics and skin care
  • Flavorings (orange flavor)
  • Fragrance fixative
  • Hair care
  • Horse styling products
  • Chemical

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market

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Website: https://www.futuremarketinsights.com

 

Montan Wax Market 2022 | Scope of Current and Future Industry 2027

Montan wax is a type of wax containing a long chain of a fatty acid and an alcohol. Montan wax finds use in high-performance applications owing to its excellent properties. For instance, the montan wax possesses fine lubrication property which is why it is extremely useful for plastic industry. Montan wax when used as an internal lubricant, improves flow-ability of polymers and also lowers the demolding force on removal. Besides, montan wax also acts as nucleating agents in polymers in order to reduce the cycle time. The molecular structure of montan wax exhibits low volatility and good thermal stability. The use of montan wax improves the mechanical properties of polymers. The montanic acid ester, a generic name for montan wax is also used as a protective layer on fruits. The fresh fruits are surface treated with the montanic acid ester in order to reduce the loss of water from fruits. The montan wax is non-toxic and can be used as a substitute to the carnauba wax. In the paper industry, montan wax is considered to be an important ingredient owing to its absorbent and colour solubility properties. Also, montan wax finds application in electrical and electronics industry, where it is used as a coating material for wires and cables. The low electric conductivity coupled with the excellent insulating property of the molten wax, makes it useful in electrical and electronics industry.

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Global Montan Wax Market: Drivers and Restraints

The global montan wax market is primarily driven by the growth in the end-use industry. The excellent physiochemical properties of the montan wax and available at cheap cost when compared to other waxes such as, carnauba wax, beeswax etc. further strengthens the consumption of montan wax. According to FDA, the montan wax is considered to be suitable and safe as a lubricant in the production of plastic food containers. In food application, montan wax helps in maintaining the freshness of the fruits. The growing demand from fruit vendors, drives the global montan wax market. Demand from an industrial point of interest is intense as montan wax meets the technical requirements. The demand for processing of engineering plastics where montan wax serves as an excellent lubricant and effectively reduces the cycle time, is one of the major driving force for global montan wax market. Some of the important advantages of montan wax which generates demand and helps in driving the market are the improvement in the mould release and flow properties, limited or no product loss, improvement in the dispersion of matrix and end product properties.

Global Montan Wax Market:  Region wise Outlook

The global montan wax market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The montan wax in Western Europe market is matured and stable with the presence established players such as ROMONTA GmbH, VÖLPKER SPEZIALPRODUKTE GMBH etc. In European countries, the montan wax is widely used in various applications such as cosmetics, dyes, polishes, mould releasing agents etc., where the dark coloured crude montan wax is bleached giving light colour which increases the application area. The business acquisitions in the European market is prominent where the players are trying to consolidate the market. For instance, in 2015, the Völpker Spezialprodukte GmbH, one of the prominent and oldest company in montan wax production acquired the montan wax business of BASF SE with an objective to strengthen its market position in Europe market. North America montan wax market is expected to grow at healthy CAGR during the forecast period, owing to the lignite production as well as consumption in the region. The montan wax market in APEJ is majorly dominated by the countries such as China and India owing to the robust presence of end use industries.

 

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Global Montan Wax Market:  Key Players

Some of the prominent players identified in the global montan wax market include:

  • ROMONTA GmbH
  • VÖLPKER SPEZIALPRODUKTE GMBH
  • Calwax Corporation
  • Paramelt B.V.
  • Clariant Corporation

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 using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

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 (U.S., Canada)
  • Latin America (Mexico, Brazil, Argentina)
  • Western Europe (Germany, Italy, U.K, Spain, France, Nordic, Rest of Western Europe)
  • Eastern Europe (Russia, Poland)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. 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.

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Global Montan Wax Market: Segmentation

On the basis of type, montan wax market can be segmented as follows:-

  • Crude Montan Wax
  • Refined/Bleached Montan Wax

On the basis of function, montan wax market can be segmented as follows:-

  • Processing Agent
  • Coating Agent
  • Emulsifier
  • Others

On the basis of application, montan wax market can be segmented as follows:-

  • Thermoplastics
  • Thermosets
  • Paper
  • Others

On the basis of end-use, montan wax market can be segmented as follows:-

  • Industrial
  • Plastic
  • Paper & Pulp
  • Chemical
  • Electrical and Electronics
  • Others
  • Food
  • Fruits

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market

Contact Us:                                                      

Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

 

Gas Cylinders Market Latest Advancements and Business Opportunities 2026

With soaring oil & petrochemical prices, the transportation and storage of valuable gases is translating into lucrative profit margins and high value growth for companies. The adoption of gas cylinders continues to gain traction in such critical operations. Future Market Insights foresees a robust growth for the global gas cylinders market in the years ahead.

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According to its recent forecast study, the global gas cylinders market is estimated to grow at a vigorous 8% CAGR in terms of value over the period, 2022-2026. Advanced safety features and effective storage capabilities of gas cylinders will play a key role in driving their sales during this assessment period. The report has further projected that gas cylinders sold across the globe by the end of 2026 will bring in revenues worth over US$ 11 Bn.

Superior Safety Features of Type I Cylinders to Drive their Adoption

In addition to their end-use in storing CNG and other fuels, gas cylinders are being widely used in bulk gas transportation operations. High stakes associated with such operations has spurred the use of type I gas cylinders. Advanced safety features of type I gas cylinders make them a sought-after for eliminating the risks of accidental gas leaks.

Light weights of type I gas cylinders are also adding to their competitive advantage over other types of gas cylinders by supporting a fuel-efficient transportation of gases. High quality fabrications and powder coating technologies employed in the manufacturing of type I gas cylinders have extended their capabilities for being resistant to extreme corrosions.

Throughout the forecast period, approximately 40% of the global gas cylinders market value will be accounted by the sales of type I gas cylinders.

Rapid Growth in Demand for Gas Cylinders Wrapped with Aramid Fibres and Carbon Fibres

The report observes that sales of wrap less gas cylinders will bring in the largest share of revenues in the global market throughout the forecast period. By the end of 2026, wrap less gas cylinders worth over US$ 5.2 Bn are pegged to be sold globally. However, the report foresees a rapid growth in demand for gas cylinders equipped with carbon fibre and aramid fibre wraps.

Thermal stability of aramid fibres will drive their application in the wrapping of gas cylinder openings. Similarly, excellent strength-to-weight ratio of carbon fibres will extend their use as gas cylinder wrapping materials. Over the forecast period, carbon fibre-wrapped gas cylinders will register fastest revenue growth at 9.3% CAGR, while sales of aramid fibre-wrapped gas cylinders will bring in more than US$ 1.6 Bn by 2026-end.

The type of gas being stored and the size of the cylinder will also play a key role in influencing the sales of gas cylinders. In 2022 and beyond, the demand for gas cylinders with 6kgs and 14kgs sizes will soar at a considerable rate, the revenues from which will account for nearly one-third of global gas cylinders market value.

The report further reveals that majority of gas cylinders manufactured in the world will be used to store flammable gasses. In 2017, nearly US$ 1.3 Bn worth of gas cylinders sold globally were used for storing flammable gases.

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APEJ to Represent Largest Market for Gas Cylinders through 2026

In 2017, more than US$ 1.8 Bn worth of gas cylinders were estimated to be sold in the Asia-Pacific excluding Japan (APEJ) region. The report observes the predominance of APEJ in the global gas cylinders landscape, reflecting a global market value share of nearly 33% over the forecast period. Leading manufacturers in the global gas cylinders market are expected to expand their bases in the APEJ region.

Hexagon Composites ASA, Luxfer Gas Cylinder, Worthington Cylinders, Quantum Technologies, Time Technoplast, Drägerwerk AG & Co. KGaA, Beijing Tianhai Industry Co., Faber Industrie S.p.A., Everest Kanto Cylinder Ltd., and Ullit will be observed as the leading players in the global gas cylinders market through 2026.

Metal Cans Market Analysis by Size, Share, Growth, Trends up to 2031

The global metal cans market is expected to foresee substantial growth in the coming years owing to the rising use of these can in the packaging of food and beverages, mainly in the packaging of non-aerated and aerated beverages. The rise the portfolio of personal products is expected to naturally augment the global metal cans market.

The demand for metal cans is rising subsequently owing to the fact that they are completely recyclable without losing the sturdiness and quality of the product. The demand from consumers for lightweight packaging and the rising awareness pertaining to the use of packaging materials that are non-carcinogenic, are further expected to propel the demand for metal cans.

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The new research report on metal cans published by Future Market Insights (FMI) provides a comprehensive overview of the global market and presents a trajectory of the market in terms of historical, present, and future forecast. The report also offers an outlook of the competitive landscape of the market along with presenting insights on the basis of the product portfolio, strategies, mergers, acquisitions, and other important aspects pertaining to them.

A segmental overview along with regions has also been provided in the report. According to FMI, the global metal cans market is expected to rise at a CAGR of over 4.8% 2021 to 2031.

Segmental Insight on the Global Metal Cans Market

On the basis of region, the global metal cans market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific except Japan, and the Middle East and Africa. Amongst these, Asia Pacific except Japan (APEJ) is expected to lead the global market by the end of the forecast period. This growth can be attributed to the rising population in the region and the growing urgency to cater to their increasing needs.

The setting up of new manufacturing units in the region is also expected to be one of the triggering factors for the market in the region. North America and Europe are expected to closely follow APEJ and also have a neck to neck competition. However, these regions are expected to exhibit a sluggish growth rate as compared to APEJ.

Based on the basis of material type, the global market for metal cans has been classified into aluminium, steel, and tin. Among these three, aluminium is going to emerge as the most popular metal used in packaging over the coming years.

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On the basis of fabrication type, the market has been bifurcated into two piece can and three piece can. Two piece can is projected to exhibit a higher CAGR as compared to the other and also emerge dominant by 2031 end.

In terms of application, the market has been segmented into alcoholic beverages, non-alcoholic beverages, processed dairy food products, other processed food products, edible oil, medicinal tablets and syrups, personal care and cosmetic products, and industrial chemicals. Among all these, alcoholic beverages will foresee a growing application of metal as compared to the other application areas and is also expected to lead the market by the end of the forecast period.

Based on end user, the market has been segmented into, food and beverages, pharmaceutical industry, consumer goods, and chemical. The leading end user among these is likely to be the food and beverages industry by the end of the forecast period.

Competitor Landscape

The entry of new players in the market among personal care and food and beverage products is expected to intensify the competition in the years to come. Moreover, the present and new players’ focus of innovative packaging is likely to be a lucrative strategy to capitalize on. The companies operating in the market are Rexam PLC, Silgan Containers LLC, Independent Can Company, Crown Holdings, Inc., and SKS Bottle & Packaging, Inc., among others.

Bag-in-Box Market  Brief Forecast and Analysis by Top Key Players to 2031

Among various industries using bag-in-box packaging solutions, the beverage sector has emerged dominant. According to a study by Future Market Insights, the beverages sector is expected to account for over 65% of sales in bag-in-box market.

Within the beverages industry, the wine segment holds the largest share.Using bag-in-boxes for packaging wines are particularly handy when it comes to use by an individual. Bag-in-boxes are lightweight than glass bottles commonly used for packaging, and are easier to be stored away.

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Europe has emerged as a key market and one of the leading producers of wine. The region has been exhibiting increasing application of bag-in-box for packaging and transportation of premium wines. Even wine expertsacknowledge that the wines in bag-in-box have a fully conserved taste.

Manufacturers are adhering to stringent food regulationsto ensure the flavor of the wine stays intact. Besides this, hygienic &useful access to the inside content, the plastic film deliberately guards wines against oxygen and light are some of the important aspects that made bag-in-box a foremost packaging solution for wines.

Several industries are opting for bag-in-box packaging solutions as these collapse easily into a flat bag and box which minimizes shipping cost and storage requirements. These factors are expected to enable growth in the market in the coming years.

Key Takeaways from Bag-in-Box Market

  • Bag-in-box demand will rise steadily, exhibiting a steady growth at 5.7% between 2022 and 2031
  • Rising demand from various industries will enable the U.S. account for over 86% sales in North America
  • Increasing wine production will fuel demand from Germany, France, and Italy
  • After a period of negative growth, sales in U.K. will revive exhibiting, 1.8% y-o-y growth in 2022
  • China will account for leading share in East Asia, followed by Japan and South Korea

“The rising demand for flexible and sustainable packaging solutions will continue driving sales, especially in food and beverages sector. In order to cater to the rising demand, companies are focusing on various innovations” says FMI analyst.

Additional Equipment Costs Associated with Bag-in-Box Likely to Hamper Growth

Although bag-in-boxes are economical packaging solutioncompared to traditional packagingalternatives, addedequipment costs of bag-in-box are expected to limittheir sales.Costs associated with bag-in-box containers are anticipated to adversely affect the demand for bag-in-box, especially in emerging economies.

Impact of COVID-19 on Bag-in-Box Market

Withsurge in challenging conditions during COVID-19 pandemic, the sales ofbag-in-boxhas declinesubstantially across the globe. Therefore, the Y-o-Y growth rate in the year 2022 end has been lowered by nearly 1.3% in compare with 2031.Moderate negative influence in the demand for bag-in-boxamongstbeverage, food, and chemical segments has been observed, due to difficulties in the maintaining supply chains.

Opposing to this a study by packaging company Smurfit Kappa Group in association with Wine Intelligence uncoveredthat bag-in-box wine productshad 3.7 million new customersin France and the UK during the last six months of 2020.This is mainly due to people have increasingly shiftedto drinking and enjoining at home due to the limitations caused of the pandemic.

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Who is winning?

Smurfit Kappa Group plc, DS Smith plc, Amcor plc, Liqui-Box Corporation, Scholle IPN, CDF Corporation, TPS Rental Systems Ltd, Optopack Ltd., NWB Finland Oy, Aran Group and among others arethe prominent players in the global bag-in-box market. The Tier 3 players in the market hold 50-60% in the global bag-in-box market.

Companies operating in the market are focusing on innovations to cater to the rising demand. For instance:

  • In September 2022, Smurfit Kappa launched innovative new Vitop® Blue tap for Bag-in-Box cleaning products which was first being used for Bag-in-Box hand sanitizer packaging – one of the most sought-after products during the Covid-19 pandemic.
  • MondiStyria have launched a pair of next-generation films developed for multilayer BIB products used to package liquid food products and more.

Bag-in-Box Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global bag-in-boxmarket, analyzinghistorical demand from 2016-2021 and forecast statistics for 2022-2031. The study reveals growth projections on the bag-in-boxmarket on the basis of  capacity (less than 5 litres, 5 – 10 litres, 10 – 15 litres, 15 – 20 litres and more than 20 litres), material (paper &paperboard and plastic(LDPE, ethylene vinyl acetate, metallized-PET, ethylene vinyl alcohol, nylon, and others))and end use (food (dairy products, sauces, vinegar & flavoring, and liquid egg products), beverages (alcoholic beverages, non-alcoholic beverages, water, and others), chemicals, petroleum, home care, and cosmetics & personal care) acrossseven regions of the globe.

Jumbo Bags Market Expectations and Growth Trends Highlighted Until 2030

Future Market Insights (FMI) delivers key insights into the jumbo bags market in its report. According to the study, the global jumbo bags market is estimated to grow by 1.5x between 2020 and 2030 in terms of revenue. By 2021, therefore, the market’s valuation is expected to surpass US$ 5.8 Bn.

The rising demand from chemicals & fertilizers industry will remain a chief contributor. FMI has even predicted the industry to account for over four of every ten jumbo bags sold globally. Among various types of jumbo bags available, Type C and U-panel bags will remain highly sought-after in terms of bag type and design, respectively.

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Key Takeaways of Jumbo Bags Market Study

  • The global bags market is expected to exhibit positive growth 2022 onwards after temporary period of lull following COVID-19 outbreak
  • The U.S. will remain a key market, accounting for over 80% of jumbo bags sold in North America
  • After registering negative growth, the U.K. market will set on path of recovery exhibiting 1.7% Y-o-Y growth in 2022
  • Demand from Germany and France also is expected to pick up at a positive pace post 2020
  • Japan and South Korea will remain key markets in East Asia

 “Increase in demand for flexible packaging formats especially in the chemicals & fertilizers industry is aiding overall expansion of the market. Market players are therefore focusing on production of ideal jumbo bags with features such as water-proof, versatile, and improved strength for bulk packaging,” said an FMI analyst.

Demand for Flexible Packaging Aiding Growth

Manufacturers of several end-use industry have shifted towards flexible packaging which is aiding jumbo bags sales. The inclination towards jumbo bags or bulk bags or Flexible Intermediate Bulk Containers (FIBCs) is due to better protection they offer to materials that are packed within and transported. Besides this, the ease of procurement of jumbo bags has been identified as a key growth driver. Moreover, empty FIBCs or jumbo bags can be easily stored due to their flexibility and can be transported even without pallets at low cost. Among other features, convenient handling offered by jumbo bags has made them highly sought after across various industries.

Surge in Price of Raw Materials and Labor Shortage to Hamper Production

Jumbo bags are generally made from raw materials such as polypropylene and polyethene. It is estimated that raw materials account for approx. 60-70% of the total manufacturing cost of jumbo bags. Fluctuation in prices and availability of raw materials are major constraints in maintaining competitive prices of jumbo bags for Asia Pacific manufacturers.

Production of jumbo bags is a labor-intensive process. Lack of adequate skilled manpower hampers the production of jumbo bags or FIBCs in emerging economies of Asia Pacific.

Jumbo bags manufacturing industry is an export-oriented sector. The fluctuation of the forex market leads to a decrease in the firm’s revenue from exports, which affect the firm’s profitability. This is a major restraint in the production of the jumbo bags in emerging economies.

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Who is winning?

Berry Global Group, Inc., Greif Inc., Conitex Sonoco, AmeriGlobe L.L.C, PT. WIHARTA KARYA AGUNG, BAG Corp., Halsted Corporation, Intertape Polymer Group., Emmbi Industries Ltd., LC Packaging International BV, Rishi FIBC Solutions Pvt. Ltd., Langston Companies Inc., Jumbo Bag Ltd., Bulk Lift International and Sackmaker J&HM Dickson Ltd. are some of the leading players in the jumbo bags market.

Jumbo Bags Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global jumbo bags market, analysing historical demand from 2015-2019 and forecast statistics for 2020–2030. The study reveals growth projections on the jumbo bags market on the basis of bag type (Type A, Type B, Type C, and Type D), by capacity (less than 200 kg, 200 kg – 750 kg, 750 kg – 1500 kg, and 1500 kg and above), by design (U-Panel bag, four side panel, baffle, circular/ tabular, and cross corner) and by end use (building & construction, chemicals & fertilizers, food products & agriculture, pharmaceuticals, and others[mining]) across seven regions.

Precision Stainless Steel Market Trends, Growth, Future Demand, Analysis and Forecast by 2029

The demand witnessed in the global precision stainless steel market is increasing at a rapid pace. With its use across various sectors including industrial, civil, mechanical, and others increasing, Future Market Insights (FMI) has forecast the precision stainless steel market is to reach US$ 3.2 Bn dollars by 2029.

Precision stainless steel comes in many varieties and this feature combined with its easy workability makes it popular among industries. Players are on the lookout for every type of precision stainless steel to design and manufacture their industrial goods.

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As there is a constant rise in the manufacturing of industrial goods, the growth prospect of the precision steel market seems promising. FMI’s study offers a comprehensive overview of the market. It studies the key growth drivers as well as gauges investment feasibility across various segments. Some of the key takeaways from the report are highlighted below.

Key takeaways from the precision stainless steel market:

  • The under 0.1mm category is expected to take up approximately 25% of the global precision stainless steel market. It is also expected to reach 800 million dollars by 2029
  • With precision stainless steel being used for the manufacturing of seamless pipes and tubes, the automotive segment is said to have a strong foothold with a CAGR of 3.8%
  • Precision stainless steel also has its use in the electronics and transportation industry. This guarantees a 2/5th share value in the global market between 2020-2029
  • East Asia is expected to overtake other regions and create an opportunity to reach 388.7 million dollars by 2029
  • By 2029, South Asia is expected to expand by 1.4 times of current market value

“Some of the leading manufacturers operating in the global precision stainless steel market are aiming to capitalize on opportunities prevalent across high potential markets in East Asia. Expansion of automotive sector and construction activities in China, Japan, and South Korea are causing shift of focus among companies from developed to high potential markets,” said FMI analyst.

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Demand Likely to Reduce during COVID-19

The global precision stainless steel market has witnessed a reduction in demand for precision stainless steel owing to the pandemic. Covid-19 has caused a disruption in the supply chain of industries across the globe.

Lockdown orders enforced in regions such as Europe, Asia, and North America have hampered production activities in across plants. This heavily impacted the global precision stainless steel market.

Who is winning?

Top players of precision stainless steel contribute approximately 40-45% to the global market value. Some of the leading key players are Acerinox, Baoshan Iron & Steel Co., AK Steel Corporation, Outokumpu Oyj, Jindal Stainless Group, and Aperam.

These players are trying to cope up with the after-effects of the pandemic and implement new strategies to get back to their production processes.

More Valuable Insights on the Precision Stainless Steel Market:

Future Market Insights (FMI) has provided an unbiased analysis of the precision stainless steel market. FMI has analyzed the global market based on historical data from 2015-2019 and opportunity assessment from 2020-2029. In terms of thickness, the precision steel market is segmented into below 0.1mm and 0.1 mm. On the basis of end-use industry, the market is segmented into food & beverages, automotive, pharmaceuticals, aerospace, building & construction, and others. Regionally, the market can be segmented into North America, Europe, Latin America, MEA, East Asia, South Asia, and Oceania.

Luxury Rigid Boxes Market Will Generate New Growth Opportunities in Upcoming Year

Luxury rigid boxes market is projected to reach over US$ 5.4 Bn by 2030, as per the new market study published by the ESOMAR recognized research firm Future Market Insights.

Luxury rigid boxes have been an ideal solutions for product premiumization. They add to the appearance and aesthetics, boosting sales of the beauty and personal care products. This has prompted the end-use segment to use luxury rigid boxes to make impactful designs to lure in more consumers. With a booming beauty products market, analysts anticipate that luxury rigid boxes will see excellent growth opportunities.

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The global leaders of beauty and personal care industries including Unilever, L’Oréal, Estée Lauder Procter & Gamble, and Shiseido and Coty have collectively reported soaring revenues, which is expected to translate with bigger budgets for luxury packaging of products. North America and Asia Pacific leading market for beauty and personal care markets and holding nearly 64% market share. All of these statistics point towards brilliant growth opportunities for luxury rigid boxes, which are continuously evolving to keep with the changing demands. Today, demand for eco-friendly packaging materials is also being factored in the production of luxury rigid boxes.

Furthermore, gradual shift from traditional packaging trend to smart and connected packaging trend has been observed in recent years. Digital shopping platforms and e-commerce have drastically increased connectivity with the consumers and it has created a great exponential opportunity for the manufacturers in the luxury boxes market. The luxury boxes with Near Field Technology and RFID technology are expected to be next-gen intelligent packaging formats, as the demand for anti-counterfeiting and anti-theft prevention packaging solutions is increasing.

Key Takeaways of Luxury rigid boxes Market Study

  • Consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030
  • Two piece boxes estimated to have an incremental opportunity of US$ 268 Mn by 2025
  • Paper and paperboard estimated to account for 68% of the global market by value, and reach slightly over US$ 3.6 Bn in 2030
  • Magnetic closure is estimated to gain by 180 bps of current market share during the forecast period
  • Foam inserts are estimated to have a significant market share by insert types, accounting for more than half of the market share by 2030
  • Asia Pacific is estimated to have an incremental opportunity of US$ 930 Mn by 2030 with the increasing demand for luxury boxes for confectionery product packaging

“Luxury rigid boxes are the elegant and sophisticated medium for presenting products. Additionally, these boxes promote impulse purchasing of the products. Demand for luxury rigid boxes among end users is consistently increasing to build and enhance positive brand image. In spite of declining phase of luxury rigid boxes market in 2020 due to COVID 2019, significant revenue generating opportunities are anticipated with explosive nature of e-commerce and digital shopping,” says and FMI analyst.

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Players Aim at Mergers & Acquisitions to Expand Product Portfolio

As a part of growth strategy, companies are emphasizing on mergers & acquisitions of small or medium sized specialized companies in order to expand their product portfolio, market footprint, increasing brand value, strengthen supply chain network etc. Some of the deals in past years are as follows –

  • In January 2019, Metsä Board, the paperboard and packaging manufacturer, introduced new luxury box named SkinCare 2.0 gift box which uses fibre-based materials to replace plastic
  • In November 2018, Fresnels Inc, the company which provides packaging solutions, developed a new recycled folding carton features dynamic nanotechnology decorative elements to catch the eye and interact with customers in the retail beverages environment.

Catering to the growing sentiment of eco-friendly packaging to reduce the pressure on landfills and to ensure responsible packaging is expected to create worthwhile opportunities for the players.

Impact of COVID-19 on Luxury Rigid Boxes Market

Manufacturers across the globe are facing several challenges in production of luxury rigid boxes due to COVID-19. This is primarily due to disrupted supply chain and trade related regulations. COVID-19 has had a negative impact on the economic activities and unfortunately, a quick recovery of the situations is possibly difficult. However, as global supply chains are disrupted, governments across various regions are considering stimulus packages to revamp the economy.

Owing to the declining economic condition, less demand for luxury packaging is estimated in 2020. Luxury rigid boxes market is largely dependent on sales of cosmetic, perfumes, and confectionery products packaging. A gradual shift from luxury product purchasing to essential product purchasing is witnessed in the mid of 2020. Therefore, as per FMI analysis, the luxury rigid boxes market is expected to decline till year end. However, the production activities are slowly resuming and expected to create growth opportunities for luxury rigid boxes in next decade.

Luxury rigid boxes Market Landscape

The global luxury rigid boxes market is fragmented and it is anticipated to witness tough competition among the manufacturers across several regions. This market consist of strong key players focusing on innovative product development. Besides this, new players are entering into the market owing to significant sales creation with the increasing demand for luxury boxes in cosmetics, food and beverages and personal care industries.

The key players of global luxury rigid boxes market are Robinson Plc, McLaren Packaging Ltd, DS Smith Packaging Limited, PakFactory, Madovar Packaging Inc., Burt Rigid Box, Inc., Holmen AB ADR (Iggesund Paperboard), Elegant Packaging, Elite Marking Systems, Design Packaging, Inc., Bigso Box Of Sweden, ACG | Ecopack (Finn Industries, Inc.):, JohnsByrne, Sunrise Packaging, Inc., Asia Korea Printing Inc., Bell Printers, Prime Line Packaging, Autajon, Npack ltd., Taylor Box Company, among others.

The Tier structure is categorized in three stages. The Tier 1 stage highlights prominent players such as DS Smith, Holmen AB ADR (Iggesund Paperboard), Bigso AB, and PakFactory. These leaders are characterized by wide product portfolio and high sales for luxury boxes. The Tier 2 players are Taylor Box Company, Robinson Plc These players are identified on the basis of their product portfolio, segmental revenue and market presence. The Tier 3 stage includes McLaren Packaging Ltd., Burt Rigid Box Inc., Sunrise Packaging Inc., Design Packaging, Inc., Madovar Packaging Inc. etc. which are characterized by strong customer relationship in the local markets. Overall these companies are expected to hold nearly 15-20% market share in the global luxury rigid boxes market.