Owing to their distinct applications in industries such as construction, agriculture, chemicals, food, and others, the global demand for industrial paper sacks is projected to grow at a moderate rate, generating a revenue of approximately US$ 5.5 Billion in 2019, as per a recent market intelligence report by Future Market Insights (FMI).
Proliferating Investments to Address Requirements in Promising Regions
The market for industrial paper sacks is spread across several emerging and developing regions, which contribute to the overall growth of the industrial paper sacks market, as per the report. It is also estimated that the emerging markets of APAC will hold maximum investment opportunities for industrial bulk sacks manufacturers.
This is further substantiated by the proliferating developments witnessed in this region by various companies. Strategic investments remain a major driving factor for the companies that aim to grab the potential opportunities in promising segments. For instance, KYM Holdings Berhad, a leading manufacturer and marketer of industrial paper bags and paper egg trays recently invested an amount of RM65 million to modernize its plant in Tapah, Malaysia. The company would further introduce a new high-end product line of industrial paper sacks, thereby boosting the export of industrial paper sacks to the Asian market. The investment is expected to boost the production capacity of the company’s fully-owned subsidiary, Hasrat Meranti Sdn Bhd.
Pinched bottom-type Industrial Paper Sacks Reflecting Major Growth
Amongst the available variants of industrial paper sacks, the pinched bottom industrial paper sacks are gaining major adoption in various sectors. Owing to the increasing utilization of pinched bottom industrial paper sacks are expected to register a substantial market value of nearly US$ 1.9 billion in 2019. Leading providers of industrial paper sacks are focusing on this industrial paper sacks type to benefit from the demand for the pinched bottom industrial paper sacks.
The Eurosac Grand Prix award-winner MailerBAG by the leading industrial paper sacks manufacturer, Mondi Group is made of a high-performance sack kraft paper. This product attained high sustainability rating for being a renewable, lightweight, reusable, recyclable product. This bag is available in the most promising pinch bottom or folder construction.
To gain more insights pertaining to the industrial paper sacks market, click here.