Rockville, MD -- (SBWIRE) -- 03/21/2019 -- Laminated Bulk Bins Market: Insights
With the exponentially increasing industrial output, demand for packaging, particularly bulk packaging has increased significantly where laminated bulk bins market finds lucrative opportunities. As laminated bulk bins are made up of either paperboard or plastic, they find extensive application in the food & beverage, electronics & electrical, and pharmaceutical sectors. Growing reliance on the paperboard packaging solution amidst the trend of eco-friendly packaging is one of the prominent factor driving the progress of the laminated bulk bins market. A wide range of laminated bulk bins is available in the market such as single walled, double walled, and heavy duty laminated boxes to suit a broad client base. Mushrooming SMEs have increased warehousing spaces where heavy duty and foldable laminated bulk bins are highly sought after which serves benefits in terms of saving time, handling efforts, cost, and reduced product damage. This, in turn, assists in maximizing the overall warehousing efficiencies.
Manufacturers in the laminated bulk bins market are focusing their manufacturing capabilities to deliver a better design with safety and sustainability. Multiple end-users of laminated bulk bins present divergent demands in terms of capacity, strength and durability. To comply with such demands, manufacturers in the laminated bulk bins market have introduced custom-made, value-added, as well as returnable bulk packaging solutions. As bulk packaging is needed across multiple business sectors starting from production to supply chain to retail, the laminated bulk bins market is likely to witness a robust growth in coming years.
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Global Laminated Bulk Bins Market: Historical Analysis
Bulk packaging has made it possible for the shipping industry to transport the products without being heavy on their pockets. Earlier, a crew of 1000 people was required for the shipping purposes but with the advent of bulk containers, a maximum of 21 crew members are enough. This has significantly reduced the shipping costs and in turn has created revenue opportunities for the end use industries. Bulk containers have generated a great level of productivity for the shipping industry and has also helped them achieve subtle profitability.
Along with this, the containers used in the intermodal transportation earlier posed problem for the crew during the loading and unloading process which lead to delays as well as increment in the costs. Laminated bulk bins on the other hand are easy to be handled which makes them to be used extensively for intermodal transportation purpose. Intermodal transportation demands bulk containers that reduce the time during the transportation mode change and are cost effective too, so that extra charges are avoided. This ultimately propels the demand of the global laminated bulk bins market.
North America is expected to lead the global laminated bulk bins market. The region off late has been witnessing a steep rise in the demand of its food and chemical applications. One third of the agricultural land in the U.S. is meant particularly for exports which drives the need of bulk packaging. Laminated bulk bins offer several advantages such as reusability and cost efficiency, leading to their wide applicability across the various end users.
Among the European countries, Germany alone has a share of nine percent in total world's merchandise exports which is even larger than the export percentage of the U.S. It has not only supported its home states, it has also helped in improving the economy of its Eastern European countries. Germany recorded exports worth 118,248 million euros in the month of January'2017 which is self-explanatory of the strong position of Germany all over the globe. This increased demand for exports is further driving the growth of the laminated bulk bins market in the European region.
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MEA laminated bulk bins market is expected to expand at a slow pace. Due to the predominance of the oil sector in the Middle East & Africa region, the diversification of economy in the region is considerably low. Excluding the oil and the other government sectors, the GDP per capita is very low in most of the MEA countries. Moreover, the oil producing countries are facing significant drops in their oil prices and consequently, their revenues are dropping.
High dependency on the oil industry for the procurement of bulk containers is a restraining factor for the MEA countries and is resulting in a challenge for the laminated bulk bins market to grow in the Middle East & Africa region.
Global Laminated Bulk Bins Market: Growth Contributors
The major growth contributor to the global laminated bulk bins market is the high demand for ecofriendly packaging type that not only can be used for the bulk transportation but also renders no harm on the environment. Laminated bulk bins being made of paper are highly preferred by nations where the government has laid down strict environmental guidelines regarding the use of plastics.
Global Laminated Bulk Bins Market: Tier Analysis
Key players under the Tier 1 category having a market share between 3%-5% are International Paper Company and WestRock Company. Players in the Tier 2 category have a market share between 1-3%, this category includes J Hill Container Company, Inc. and Bulk Handling Australia. Other players in the Tier 3 category are Elsons International etc.
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