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Poly woven Bags Market Research
The latest research report on the Poly woven Bags Market delves into the growth opportunities and development trends that are expected to shape the market up until 2030. This report offers an in-depth analysis of the market’s driving factors and challenges, utilizing both qualitative and quantitative research methodologies. Through this report, businesses can gain valuable insights into the market landscape and make informed decisions about their strategies and potential areas of growth. —https://www.cottonwoodholladayjournal.com/2023/05/17/136557/poly-woven-bags-market-emerging-trends-2023-indicate-strong-revenue-growth-potential/
Global Poly woven Bags Market is valued at approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
Polywoven Bags are made with polyethylene and polypropylene materials and are used in packaging of finished products across different industries such as cement and fertilizers, sugar processing, and FMCG industries among others. Polywoven bags are made by weaving pp threads or tapes in two directions to form a fabric. Moreover, due to their properties such as high strength, reusability, and waterproof capability, these are used in different industries for packaging applications. The increasing expansion of global fertilizers industry and high durability, and re-usability associated with polywoven bags as well as strategic initiatives from leading market players are key factors accelerating the global market growth.
The increasing expansion of the fertilizers industry due to growing demand from agriculture sector is contributing to the growth of the Global Polywoven Bags Market. For instance, in 2021, the global fertilizer market was valued at USD 193 billion, witnessing an increase of around 12 percent from 2020 and as per projections, the fertilizer market would grow to USD 240 billion by 2030. Moreover, as per the India Brand Equity Foundation (IBEF)- in 2020, the POS sale of fertilizers to farmers in India reached 10.63 lakh MT which is 32 percent higher than last year’s sale of 8.02 lakh MT during the same period. In addition, Wholesale distributors purchased 15.77 lakh MT fertilizers, representing around a 46 percent increase from last year’s sale of 10.79 lakh MT during the same period. Also, the increasing end-use applications of Polywoven Bags and growing industrialization in developing nations would create a lucrative growth prospectus for the market over the forecast period. However, volatile cost of raw materials stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Polywoven Bags Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of global market share owing to presence of leading market players and rising expansion of chemical and fertilizers industry in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising utilization of fertilizers in agriculture activities and presence of leading sugar processing companies in the region.
