The global dunnage air bags market has witnessed impressive growth in the past decade, due to growing trade across the globe. Growing exports and imports between the countries and safe transportation of products has paved the way for dunnage air bags market. According to Transparency Market Research, the global dunnage air bags was valued at US$404.3 mn in 2016 and is expected to exhibit a CAGR of 4.8% during the forecast years of 2017 to 2025. Dunnage air bags market manufacturers are mainly emphasizing on expanding footprint through mergers and acquisitions, thereby enhancing their product portfolio and quality. Brand owners preferences regarding dunnage air bags are also expected to be driven by the type and size of bags used.
A number of other factors are expected to drive the dunnage air bags market, such as capability of bearing high load, property which helps in keeping products stable during transit. Fast growth in organized retail sector, especially in emerging economies, is expected to fuel growth of the dunnage air bags market. Despite the positive outlook, there are a number of other factors that might hamper growth of the market, which includes poor resistance to damage in case of sharp pointed objects.
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Kraft Paper to Lead Global Market as it’s the Best Eco-friendly Option
Globally, by material type, the kraft paper segment is estimated to dominate the market, in 2017, with 42.8% share of the market value. The vinyl segment is anticipated to witness a rise in market share, with 17.5% market share in 2017, it is estimated to reach 18.3% during the forecast period. The dominance of kraft paper in the global dunnage air bags market will be due to the versatility of this material. These bags can be customized as per requirement and can thus be sold in varying sizes. Furthermore, this material can be recycled, which makes it the best eco-friendly option. Unlike some other dunnage, kraft paper dunnage bags are easy to deflate and can be thrown away after single use, thereby creating a repository for reuse.
The global dunnage air bags market by bag type, has been majorly segmented into 2 ply, 4 ply, 6 ply and 8 ply. Among bag type, the 2 ply dunnage air bags dominates the market with 33.7% market share in 2017. 8 ply dunnage air bags is expected to grow at an impressive CAGR of 5.4% during the forecast period.
Among the end use segment, the global dunnage air bags market is segmented into truck shipment, railway shipment, and overseas shipment. Out of these, the truck shipment segment is projected to lead the global market with a steady CAGR of 5.1% between 2017 and 2025. However, the overseas segment is anticipated to dominate the market, during the forecast period as it held a share of 45.9% in the market in 2017.
Import and Export in Developing Countries to Make Asia Pacific Clear Leader
The global market has been segmented into five regions, i.e. North America, Latin America, Europe, Asia Pacific region (APAC), and Middle East & Africa (MEA). The Asia Pacific region is projected to register the highest CAGR of 6.5%, during the forecast period. The rise of this region is attributable to the growing export and import, especially in the developing countries such as India and China. In terms of value, the Asia Pacific dunnage air bags market is expected to acquire a share of 32% in the global market by the end of 2025.
Few of the key players in the global dunnage air bags market include Cordstrap B.V., Green Label Packaging, Atmet Group Inc., Stopak India Pvt. Ltd., Shippers Products, Shippers Europe Sprl, Bates Cargo-Pak ApS, Litco International, Inc., Cargo Tuff LLC, Bulk-Pack, Inc., Etap Packaging International GmbH, International Dunnage A.S., Plastix USA LLC, Tianjin Zerpo Supply Co., Ltd., Atlas Dunnage, Guangzhou Packbest Air Packaging Co., Ltd., Eltete Middle East FZ LLC, Phoebese Industrial (Shanghai) Co., Ltd., Vir Engineers, Down River, Inc.
Awareness Regarding Benefits of Protective Layers during Cargo Transportation to Increase Growth Prospects across Dunnage Air Bags Market
Dunnage air bags are a type of packaging used during the transportation of cargo. The cargos remain protected, stabilized, and secured due to these bags. The growing influence of transportation and the rising concern about the damage caused to the cargos during transportation may bring tremendous growth opportunities for the forecast period of 2017-2025.
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- Dunnage air bags are both light and robust. They enable efficient protection of large cargos. This aspect may invite promising growth prospects for the dunnage air bags market. Good durability, escalated cost-efficiency, and decreased handling efforts are some of the vital properties that may serve as prominent growth contributors for the dunnage air bags market. The rising awareness about the utilization of dunnage air bags among a considerable populace may further enhance the growth opportunities.
- Sustainability has gathered substantial momentum across the globe. Environmental conservation is regarded as a prime factor across various sectors. Recycled materials are preferred over non-recyclable materials. The material of dunnage air bags is 100 percent recyclable. Thus, this aspect will influence the growth of the dunnage air bags market to a great extent.
- The rapidly progressing shipping and logistics industry may further enhance the growth opportunities across the dunnage air bags market. Barring the novel coronavirus pandemic, the shipping and logistics industry has rarely faced growth damage. The coronavirus pandemic led to the enforcement of strict-lockdown restrictions. These restrictions resulted in the closure of a plethora of businesses across the globe.
- The border restrictions further increased the difficulties for the dunnage air bags market. Although goods transportation was allowed, certain reasons led to disruption in the supply chain and logistics. In addition, the firms manufacturing dunnage air bags were also closed on the back of the restrictions. This aspect hurt the growth of the dunnage air bags market considerably.
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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