According to Future Market Insights research, during the projected period, the global dunnage air bags market is set to enjoy a valuation of USD 503.0 Million in 2022, and further expand at a CAGR of 4.5% to reach USD 781.1 Million by the year 2032. The dunnage air bags market revenues are expected to fuel with the top 3 countries estimated to hold 30 to 35% of the global dunnage air bags market by the end of 2022.
Based on the material, kraft paper dunnage air bags segment is projected to remain the leading segment among the other material used for producing dunnage air bags. The kraft paper segment is estimated to create an incremental opportunity of USD 140 Million during 2022 to 2032.
Attributes | Details |
---|---|
Market Size 2022 | USD 503.0 Million |
Market Size 2032 | USD 781.1 Million |
Value CAGR (2022 to 2032) | 4.5% |
Collective Value Share: Top 3 Countries (2022E) | 30 to 35% |
The global dunnage air bags market forms around 10-15% of the global dunnage packaging market worth USD 3.7 Billion in 2021.
According to the FMI analysis, the dunnage air bags market revenue totaled USD 483.1 Million in 2021. With the propelling demand from the various end-users, the global dunnage air bags market is projected to reach USD 781.1 Million by 2032, accelerating at a CAGR of 4.5% during the forecast period.
The dunnage air bags market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the dunnage air bags sales will rise during 2022-2032 and is projected to create an absolute incremental growth opportunity of USD 298 Million.
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The global dunnage air bags market witnessed a CAGR of 3.9% during the historic period with a market value of USD 483.1 Million in 2021.
Dunnage air bags are considered among the most efficient and sustainable packaging solutions which fill the voids and offers optimal transportation. Dunnage air bags are used to protect goods during transit.
The usage of dunnage air bags results in a secured situation as the cargo remains stable during transportation, which assures safe delivery of the goods. In addition to absorbing vibrations, dunnage air bags brace weight, fill voids, and safeguard cargo from in-transit damage brought due to longitudinal or bouncing vertical movements.
They can sustain tremendous pressure and resist shifting load and have excellent load stabilizing capacity. Dunnage air bag market expansion will be significantly impacted by recent movements in the logistics sector.
Massive e-commerce growth during pandemics has prompted new competitors to enter the delivery and logistics sector from crowdsourced deliverers and local carriers, as well as new business models and strategies from established firms. This growth comes with tremendous uncertainty, which presents both risks and opportunities to the dunnage air bags market.
The increasing technology gave rise to inflatable dunnage air bags which are lighter in weight as well as cost-saving which increases the profit margins for the product manufacturer. The inflatable dunnage air bags confirm the shape of the product which it is protecting, this ensures the security of the product at an advanced level.
Majorly, dunnage air bags are demanded in the dominant regions like Europe and North America because of their increasing trade activities in the domestic markets as well as the international markets. In addition to that, these regions use the latest growing technologies to be ahead of other countries which leads to the early adoption of product which is technologically advanced.
In the case of dunnage air bags, the inflatable dunnage air bags are technological advancement which is a positive signal for the sales of these dunnage air bags across the globe.
Over the years, dunnage air bags are used for securing heavy or bulk products during transportation. The manufacturer of dunnage air bags can produce the air bags for small, valuable, luxury, and household products that can be used inside the primary packaging of the product. Recently, small or household products come with thermocol or plastic box packaging inside their primary packaging so that products may not get hampered.
Therefore, the manufacturer can develop small dunnage air bags which can replace the non-biodegradable material. Considering the example of perfume bottles or the luxury wine bottle, these bottles need extra safety as are made from glass and are filled with liquid so the small dunnage air bags then can be used inside the primary package of the bottles which assures safety.
Also, the replacement of thermocol with recyclable and reusable dunnage air bags will contribute to the regulation framed by the government for various environmental issues.
Based on the material segment, the kraft paper dunnage air bags segment is estimated to remain the leading segment for the global dunnage air bags market. The target segment is anticipated register a CAGR of 5.4% during 2022-2032. The reason behind the same is the eco-friendly benefit offered by the kraft paper material.
The logistics & transportation segment followed by the electrical & electronics segment is projected to generate high demand for the dunnage air bags. The logistics & transportation segment by end use is estimated to grow 1.7x the current market value during the forecast period. The increased need for secure delivery of goods augment the sales of dunnage air bags in logistics & transportation industry.
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The USA is estimated to hold around 4/5 portion of the North American dunnage air bags market by the end of 2022. The need of protective packaging for transporting stone & glass products in the USA is constantly increasing.
This is projected to supplement the sales of dunnage air bags in the USA According to the World Integrated Trade Solution (WITS), the USA is one of the largest exporters of stone and glass. In 2020, the USA export of stone and glass accounted for USD 136 Million. Thus, the mentioned factor is estimated to fuel the demand for dunnage air bags in the USA
The key players in the dunnage air bags market are trying to capture the market using product innovation strategy. Also, the key players are trying to expand their presence and capacity through merger or acquisitions. Some of the latest developments by the key players are as under-
Attribute | Details |
---|---|
Growth Rate | CAGR of 4.5% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2020 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Material, Bag Type, End Use, Region |
Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
Key Companies Profiled | Cordstrap B.V.; Green Label Packaging; Litco International, Inc.; CargoTuff LLC; Signode Industrial Group LLC; Southern Bracing Systems Enterprises; Bulk-Pack Inc.; Southern Packaging, Lp; Packbest Air Packaging Co., Ltd.; Phoebese Industrial (Shanghai) Co, Ltd.; International Dunnage; Down River, Inc.; Atlas Dunnage; Plastix USA LLC; Eltete Middle East FZ LLC; Atmet Group, Inc.; Shipper Europe Sprl |
Customization & Pricing | Available upon Request |
In 2021, the value of the global dunnage air bags market was USD 483.1 Million
During the forecast period, the global dunnage air bags market is anticipated to expand at a CAGR of 4.5%.
The global dunnage air bags market is expected to reach USD 781.1 Million by the end of 2032.
During the forecast period, kraft paper is expected to lead the global dunnage air bags market.
The high demand for the protective packaging in the logistics sector is driving the demand for dunnage air bags.
Cordstrap B.V., Green Label Packaging, Litco International, Inc., CargoTuff LLC, and Signode Industrial Group LLC are the top players augmenting the sales of dunnage air bags.
As per the FMI analysis, the Indian dunnage air bags market is projected to expand at a CAGR of 5.6% during 2022-32.
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