Silo Bags Market: Increasing Demand for Silo Bags for Grain Storage
However, steel silos are able to keep the grains safer as compared to the normal silo bags. Moreover, unitary capacity offered by silo bags is also limited. Hence, these factors are expected to affect the growth of the global silo bags market.
The report also offers a detailed profile of some of the leading market players in the global silo bags market such as GEM Silage Products, IPESA, RKW Group, BagMan LLC, Grain Bags Canada, Canadian Tarpaulin Manufacturers LTD, Temudjin Flex-Pack BV, Sigma AG (Sigma Stretch Film), Brain Chamber Polysacks PVT.Ltd, Hangzhou Xinguang Plastic Co., Ltd, and GrainPro Philippines, Inc.
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Global Silo Bags Market to Witness Robust Growth during the Forecast Period 2017-2026
According to the latest report compiled by Transparency Market Research (TMR), the global silo bags market is expected to witness robust growth. The market is projected to register 6.5% CAGR during the forecast period 2017-2026. It is also projected to bring in US$ 693.2 million revenue by the end of 2026.
The global silo bags market is segmented on the basis of length type, material type, by application, and region. By length type, segmentation includes 60 meters, 75 meters, and 90 meters. Among these length types, 75 meters of silo bags are expected to witness strong growth during the forecast period 2017-2026. On the basis of material type, the market segments include Polypropylene (PP) and Polyethylene (PE). Polyethylene (PE) is expected to emerge as the most preferred material type in the global silo bags market for the forecast period 2017-2026.
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In the terms of application, silo bags are expected to be largely used for grain storage during the forecast period 2017-2026. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). Among these, North America is expected to remain dominant in the global silo bags market during the forecast period 2017-2026.
Rising Demand for Silo Bags for Storing Grains
The demand for silo bags for storage of grains is constantly rising. Hence, with the increasing demand, manufacturers are offering silo bags in various shapes and size as per the requirement. Moreover, innovative technologies are also resulting in the production of technologically advanced and water-proof silo bags. Meanwhile, initiatives by the government in various countries is also contributing to the shift from normal grain storage bags to silo bags, thereby increasing the storing time of the grain.
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Various leading market players are also increasingly investing in the research and development of silo bags using an eco-friendly raw material, increasing storage capacity, and grain storage time. They are also focusing on providing low-cost silo bags. The sensors and mobile application are also being developed to monitor the condition of grains during drying and storing to avoid any wastage.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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