World cement bagging equipment market to shrink to USD 154 million by 2024
By: CW Group
"The cement bagging equipment market is both dependent on demand and capacity, since an increase in demand does not translate directly into new equipment purchases if the installed capacity is enough to accommodate the additional orders", observes Carolina Pereira, Business Analyst at CW Group.
Bagging market clouded by few capacity expansions and bulk shipping
Worldwide annual cement bagging capacity additions are projected to fall to roughly 54 million tons annually in the next five years, with deceleration driven by oversupply in many major markets. Overcapacity in many key markets means that demand growth does not translate into higher production capacity. China, the most decisive player in the global cement market, has diverged from the rest of the world, embarking on a quest to reduce overcapacity through the closure of outdated cement plants, and to only partially replace eliminated capacity with new plants.
Likewise, the market size for cement equipment is expected to edge downwards at a yearly average growth rate of one percent. A decline in new capacity additions, particularly in greenfield projects, is contributing to that trend. Furthermore, in many key markets, overcapacity is absorbing the rising demand, thus there is no need for new bagging capacity. Transportation preferences constitute an additional aspect conditioning the world cement bagging market, with a trend for shifting from bag to bulk, driven by infrastructure projects.
Bag fillers lead the market
Segment-wise, in the next five years, bag fillers are forecast to remain the largest segment within the cement bagging equipment market, accounting for over 60 percent of the total market value. The urge for automation created by rising labor costs and new safety regulations provides a softer terrain for palletizing and wrapping, supporting a positive annual growth rate in both segments for the period between 2019 and 2024. Conversely, loading equipment, typically installed to the detriment of palletizers and wrappers, is expected to lose ground in the next five years.
For more information, placing an order, or interview inquiries, please contact Mihnea Manea, Media and Market Services Executive, CW Group, by phone at +40 723 281 704, or e-mail at email@example.com.
About the Report
CW Group's World Cement Bag & Bagging Equipment Industry and Forecast Report (https://www.cwgrp.com/
The report provides a comprehensive view of this market segment, providing critical decision support information for cement and cement bag producers, kraft paper manufacturers, distributors, suppliers of bagging equipment and other stakeholders.
The report explores demand for cement bags and related bagging equipment on a global as well as a regional basis. Additionally, shares for bag vs bulk distribution, market trends and packaging options (kraft paper, polypropylene etc.) are discussed together with an outlook for the industry.
More information about the report can be found here: https://www.cwgrp.com/
About CW Group
The Greenwich (Conn.), USA headquartered CW Group is a leading advisory, research and business intelligence boutique with a global presence and a multi-industry orientation. CW Group is particularly recognized for its sector expertise in heavy-side building materials (cement), light-side building materials, traditional and renewable power & energy, petrochemicals, metals & mining, industrial minerals, industrial manufacturing, bulk cargo & shipping, among others. We have a strong functional capability, grounded in our methodical and quantitative philosophy, including due diligence, sourcing intelligence, feasibility studies and commodity forecasting. www.cwgrp.com
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