New York, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Multiwall Bags Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372893/?utm_source=GNW
, LC Packaging, NNZ Group, Premier Polymer, United Bags Inc., Langston Companies Inc., Trombini Packaging, and Nebig Verpakkingen BV.
The global multiwall bags market is expected to grow from $12.25 billion in 2021 to $13.10 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The multiwall bags market is expected to reach $15.58 billion in 2026 at a CAGR of 4.4%.
The multiwall bags market consists of sales of pasted valve bags, sewn open mouth bags, pinch bottom open mouth bags, multi-wall paper over poly and 3-layer multiwall paper bags.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Multiwall bags are bags that have multiple layers and are an affordable, adaptable, and flexible packaging option composed of sustainable and renewable materials and extremely robust and lasting. The multiwall bags are used for shipment and storage of bulk and powder goods such as cement, chemicals, fertilizers, and so on.
Asia Pacific was the largest region in the multiwall bags market in 2021. The regions covered in the multiwall bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of products in multiwall bags are paper based, and plastic bags.Paper-based bags are used for shipping and storage of bulk and powdered commodities such as cement flour and so on.
Paper bags are multi-walled bags that are manufactured with porous kraft paper which is a paper made with 80% sulfate wood pulp and has high elasticity and high tear resistance. The different layers include 2-ply, 3-ply, and others that are used in food and grains, agriculture, building and construction, chemical, retail, pharmaceuticals, and others applications.
The increasing use of sustainable packaging solutions is expected to propel the growth of the multiwall bags market growing forward.Sustainable packaging solutions have the least environmental impact since they’re manufactured with recyclable materials and are also eco-friendly.
Multiwall bags are easily recyclable and created from renewable materials, so-referred to as sustainable packaging solutions.For instance, according to a survey of more than 15,000 end consumers across North America, Europe, and South America by Trivium Packaging, a Netherlands-based sustainable packing company, in 2021, 83% of consumers showed a willingness to pay more for sustainable packaging as compared to 70% in the previous year.
Therefore, increasing the use of sustainable packaging is driving the growth of the multiwall bags market.
Product innovations are the key trends gaining popularity in the multiwall bags market.Major companies operating in the multiwall bags sector is focused on introducing new flexible bags that are manufactured by using multilayer structures with superior oxygen and moisture barrier to sustaining their position.
For instance, in September 2020, ProAmpac, a US-based flexible packaging company partnered with Canada-based tea company, Metropolitan Tea for the launch of the ProActive Compostable package, a multilayer flexible package produced using 100% industrial and home compostable films and adhesive with superior oxygen and moisture barrier. This helps to keep the product fresh and moisture free.
In April 2021, ProAmpac, a US-based packaging company acquired El Dorado for an undisclosed amount.The acquisition of El Dorado gives ProAmpac more manufacturing capacity and capabilities, enabling ProAmpac to continue offering its clients dependable and cutting-edge products.
El Dorado is a US-based multiwall packaging products company.
The countries covered in the multiwall bags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The multiwall bags market research report is one of a series of new reports that provides multiwall bags market statistics, including multiwall bags industry global market size, regional shares, competitors with a multiwall bags market share, detailed multiwall bags market segments, market trends and opportunities, and any further data you may need to thrive in the multiwall bags industry. These multiwall bags market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06372893/?utm_source=GNW
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