Albany, NY -- (SBWIRE) -- 02/07/2019 -- Silo bags are the types of bags used in packaging and preserving product from external storage for a long time, especially food grains. Silo bags are being used on a large scale for storing grains as it provides protection from UV rays. Moreover, their flexibility makes them ideal for shipping bulk materials. Owing to the benefit of storing grains for a long time, and providing protection against insects the demand for silo bags for food grain storage is increasing. Storing grains for a long time with help of silo bags is also allowing producers to plan logistics in an efficient way. Long storage capacity is also helping farmers and private and public storage sectors to sell and market the grains at a proper time, thereby earning highest profits.

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As per the report by Transparency Market Research (TMR), the global market for silo bags is likely to witness strong growth, registering 6.5% CAGR during 2017-2026. The market is also likely to reach US$ 693.2 million revenue by the end of 2026.

Silo bags of 75 meter in length are expected to account for nearly half of the revenue share by the end of 2017. 75 meters length of silo bags is projected to reach nearly US$ 400 million revenue by the end of 2026. Meanwhile, silo bags of 60 meters length are also likely to witness healthy growth during 2017-2026.

Polyethylene (PE) Silo Bags to Gain Maximum Traction in the Global Silo Bags Market

Polyethylene (PE) is likely to be one of the highest preferred type of material for silo bags. By the end of 2026, Polyethylene (PE) is projected to surpass US$ 600 million revenue. Owing to the various advantages of polyethylene such as being fully recyclable, extremely impact resistant, not reacting chemically with the material stored, makes polyethylene as the preferred material for developing silo bags.

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Silo Bags to be used on a Large Scale for Grain Storage

Silo bags are likely to find the largest application in grain storage during the forecast period 2017-2026. By the end of 2026, grain storage is projected to reach nearly US$ 500 million revenue. Meanwhile, use of silo bags for forages storage is likely to witness strong growth during 2017-2026.