Polywoven Bags Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Polywoven Bags Market grew at a CAGR of 4.1% between 2017-2021 and is estimated to be US$ 4325.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.7% and is expected to reach a valuation of US$ 6,847.5 Mn by 2032 end.
In recent years, the use of polywoven bags has increased significantly. Polypropylene or polyethylene strips are woven in different directions to produce a lightweight and robust bag. This combination sets these bags apart from other products in that they allow for an extremely light package but do not compromise strength or durability.
VARIOUS END-USE DRIVES THE MARKET FOR POLYWOVEN BAGS
The value of the market is tipped to rise as key organizations such as crop farmers and textile mills adopt woven sacks in their operations. Worldwide, over two million cotton plantings and five million hectares are under food crops. With an increased demand for cheap raw materials and agricultural produce, manufacturers supplying the market have been focusing on weaving stiffer synthetic yarns for tailor-made PP woven sacks.
HIGH FLUCTUATIONS IN RAW MATERIALS HAMPER THE MARKET GROWTH
The polywoven bag market is a relatively new product, which has resulted in the industry being highly capital-intensive and lacking significant economies of scale. However, the demand for polywoven bags concerns ongoing inflation and price volatility. High levels of uncertainty regarding the future of the industry have reduced investment in new capacity and resulted in decreased demand for polywoven bags from a few years ago.
THE RISE IN THE AGRICULTURE SECTOR WILL CREATE MORE OPPORTUNITIES FOR THE MARKET
The market for polywoven bags has a tremendous opportunity due to the rise in the consumption of agricultural products. Polywoven bags also offer increased efficiency and safety compared with traditional paper bags. In addition, they are reusable and can be recycled after use.
The global economy is gaining speed from a turtle-paced crawl, which was encountered in 2019 due to the COVID-19 pandemic. Mass inoculation programs are helping to revive growth in the woven sacks market, which is tapping stable revenue streams in essential applications such as food, agriculture, and mission-critical projects in construction applications.
However, This is greatly affecting the supply chains of woven sacks and bulk bags in the U.S. Since distributors in the U.S. are heavily dependent on Asian countries for the supply of these products, the distributors are striving to maintain steady supply chains by keeping competitive pricing with other suppliers, or even risk losing business to them. Manufacturers are also boosting local production capabilities to meet increased demand during this pandemic as it impacts lead times on distributor orders. The market value might not catch up to the pre-COVID-19 value until 2027.
Market Segments Covered in Report
By Region and Country:
Why are HDPE Woven Sacks projected to ensure the most revenue during the forecast period?
At 50.0% of the market, HDPE Woven Sacks had the greatest revenue share. Woven sacks are high-volume, versatile, and durable. They can be produced from paper or other materials. HDPE woven sacks and bags are used as packing material in packaging industries like food, chemicals, wood pulp, and oil. To gain a competitive edge, Indian manufacturers offer customized solutions, including double-sided printing and injection molding. As far as PP woven sacks are concerned, they are used for packing corrugated cardboard boxes in the food industry.
Why is the Packaging segment expected to expand the fastest during the forecast period?
In 2021, As the transportation industry becomes more modernized, new innovative tools are emerging for companies to enable them to compete in this arena. HDPE woven sacks are being touted as customizable, economical, and durable. In addition, they can also be printed or customized based on your needs. The woven sacks market is supported by demand for heavier-duty PP woven sacks. This increased production capacity has helped to address concerns about shrinkage and product damage due to heat during transit and a significant rise in global population growth which requires greater quantities of raw materials worldwide.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
All of the major players are attempting to develop sustainable packaging solutions. They are searching for ways to ensure that the production process generates the least amount of waste possible and that the globe is cleaner.
Some of the key developments that have taken place in the Polywoven Bags Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product, Material, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.7%.
The surge in the adoption of polywoven bags is expected because these are made of polypropylene or polyethylene strips woven in different directions to produce a lightweight, robust bag. This combination is sought after by customers when searching for solid packaging material.
Major global Polywoven Bags Market players are H Polesy & Co Pty Ltd, LC Packaging, Mondi Group, Anita Plastics Inc., Knack Packaging, AEP Industries Inc., Interplast Group, Hanoi Plastic Bag JSC, Da Nang Plastic Joint Stock Company, Bischof & Klein GmbH & Co, Inova Pvt. Ltd., Daman Polyfabs .
Inflation, along with price variation, is the cause of worry for the polywoven bags market.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Polywoven Bags market.
Facing issues finding the exact research to meet your business needs? Let us help you! One of our Research Executives will help you locate the research study that will answer your concerns.Speak to Analyst