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The market for polywoven bags, which had a value of US$ 4991 million in 2022, is projected to reach US$ 7801.3 million in 2032 and develop at a CAGR of 4.6% over the course of the forecast period. The demand for polywoven bags is anticipated to increase due to the growing requirement for product storage as well as a number of other considerations. The fact that polywoven bags significantly contribute to guaranteeing product safety by extending the shelf life of the stored goods is what drives their sales.
Global Polywoven Bags Market: Drivers and Restraints
Polywoven bags carry advantages such as re-usability, Durability, light in weight, waterproof with a laminated film coating, tear resistant, low in cost over other packaging solutions that are available in the market. Thus, this factors majorly drive the global polywoven bags market across the globe.
The rise in population leading to the increase of urbanization is anticipated to fuel the demand for agricultural production across the world, and hence polywoven bags market is estimated to witness a significant growth rate over the forecast period. On the other hand, constant fluctuations in prices of raw material are expected to hinder the demand for polywoven bags.
Also, manufacturing of polywoven bags to a large extent is dependent on the agricultural production in the corresponding regions. These factors act as restraining forces that can hinder the growth of global polywoven bags market.
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Global Polywoven Bags Market: Regional Overview
Geographically, the global polywoven bags market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
As compared to other regions, Asia-Pacific region is expected to dominate the global polywoven bags market over the forecast period. Increase in agricultural production owing to satisfy the needs of growing population in the developing economies like India & China is the primary reason to drive the growth of polywoven bags market in this region.
Also, increase in demand for construction materials such as cement, sand has led to growth in the application for polywoven bags in Asia-Pacific region. North America and Europe regions have a matured market for polymer manufacturing companies, and thus, the demand for polywoven bags is expected to show a steady rate of growth over the forecast period.
Latin America region is the one of the largest exporter of agricultural produce across the globe, and hence polywoven bags market in this region is expected to show an exponential growth. Growth in infrastructure development with an increase in requirement of construction material in the Middle-East and Africa has led to the growth of polywoven bags market. Overall, the global polywoven bags market is expected to grow at a healthy CAGR over the forecast period 2017-2025
Global Polywoven Bags Market: Keyplayers
Some key players that operate in the global polywoven bags market are
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Global Polywoven Bags Market: Segmentation
The global polywoven bags market is segmented on the basis of product type, material type and end user industry.
On the basis of product type, the global polywoven bags market is segmented into:
On the basis of material type, the global polywoven bags market is segmented into:
On the basis of applications, the global polywoven bags market is segmented into:
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The post Polywoven Bags Market is expected to reach US$ 7801.3 Mn in 2032, likely to surge at a vigorous 4.6% CAGR appeared first on Future Market Insights.
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