Market - - Jun 12,2017
According to statistics, the HDPE segment is expected to register a CAGR of 5.5% during the period 2016-2026; it is due to the cost-effective nature of the HDPE segment.
In recent times, the garbage bag market has been experiencing a sharp surge as its products from lucrative segments face higher demands. The market is primarily occupied by low-density polyethylene (LDPE), high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE) and polypropylene (PP).
Interestingly, high-performance characteristics and excellent tensile strength are expected to swell the market share of HDPE garbage bags.
As per a smart research report published by Market Research Reports Search Engine (MRRSE), the HDPE garbage bags segment managed a revenue share of close to 30% in the overall garbage bag market in Europe in 2016. Moreover, it is anticipated that this particular segment would acquire a CAGR of 5.5% during the period 2016-2026.
The cost-effectiveness and ability to hold a substantial weight are viewed as a driving force for the market for HDPE garbage bags in the near future. Also, the biodegradable quality of these bags is also analyzed as a growth factor for the market across the European region.
Looking at the current scenario, the demand for premium garbage bags is likely to gain grip particularly in the advanced economies such as Germany and the U.K. Also, the two recent trends fueling their sales are the odour control nature and stretchable strength. The consumers are ready to pay a premium for such features, which is creating robust upgradation in the HDPE garbage bag segment. The top manufacturers from the garbage bags sector in Europe are namely Novolasta, Extrapack, s.r.o Senkvice, DAGOPLAST, International Plastics, Terdex, Pack-It BV, MirPack TM and Achaika Plastic S.A.
For more information on this report visit- http://www.mrrse.com/europe-garbage-bag-market