Global Multiwall Paper Bags market will reach 4405 million US$ by the end of 2023

Publisher: QYResearch
Published Date: 2019/9/9

The global Multiwall Paper Bags market was valued at USD 3649 million in 2017 and is expected to reach USD 4405 million by 2023, growing at a CAGR of 2.4% from 2017 to 2023. Overall, the Multiwall Paper Bags products performance is positive with the global economic recovery.

The technical barriers of Multiwall Paper Bags are relatively low, and the Multiwall Paper Bags enterprise disperse in many countries, and the relative large companies include Mondi, Trombini Hood Packaging, Orora, Sealed Air, Gateway Packaging, Smurfit Kappa and others.

Multiwall Paper Bags is widely used for Building materials, Food &Pet Food industry, agricultural industry, Chemicals, Minerals. In 2017, Multiwall Paper Bags for Building materials, Agricultural industry and Food occupies 56%. As consumers focus on food safety, the increased consumption of downstream industries is expected to continue during the remaining years of the forecast period of 2017-2023. Multiwall Paper Bags industry will usher in a stable growth space.

In the past few years, the price of Multiwall Paper Bags gradually decreased and we expected the price will decrease. However, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of Multiwall Paper Bags. Therefore, to some extent, the companies face the risk of profit decline.

There are companies adding new capacities and aiming at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality. The competition in Multiwall Paper Bags market will become more intense.

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