(PharmaNewsWire.Com, September 10, 2021 ) The trash bags market is projected to grow from USD 9.5billion in 2019 to USD 12.1billion by 2024 at a Compound Annual Growth Rate (CAGR) of 4.9% duringthe forecast period. Trash bags are disposable bags used for the collection, handling, and disposal of trash. They were invented by a Canadian inventor, Harry Wasylyk, along with Larry Hansen in 1950 for commercial use. Garbage bags are commonly manufactured using thermoplastics, such as Low Density Polyethylene (LDPE) and High Density Polyethylene (HDPE). LDPE trash bags are thick, flexible, and highly resistant to puncturing and tearing, making them ideal for use in the kitchen and in outdoor trash cans, while HDPE trash bags undergo a different manufacturing process as compared with LDPE trash bags, making them thinner and less puncture resistant, ideal for use in offices and restrooms.
Key players such as Berry Global Inc., (US), The Clorox Company, (US), Novolex,(US), Reynolds Consumer Products, (US), Inteplast Group, Ltd., (US), Poly-America, L.P., (US), International Plastics, Inc., (US), Four Star Plastics, (US), Cosmoplast Industrial Company (L.L.C.)(UAE), NOVPLASTA, s.r.o., (Slovakia), have adopted acquisitions, expansions, and new product launchesas their strategies.In August 2018, Berry Global Inc. acquiredLaddawn, Inc. (US) for a preliminary cost of USD 242 million. The acquired business operates in the Engineered Materials segment of Berry Global Inc.The acquisition enabled the company in strengthening its position in the custom-made trash bags market.
In December 2017, Novolex acquiredcertain assets and business operations of Shields Bag and Printing Co. (US), a manufacturer of custom engineered flexible packaging products. The acquisition aided Novolex in strengthening its position in the institutional and industrial segments.In September 2015, Novolex expanded its footprint in Florence (Kentucky). This expansion includes multiple facilities in Florence,includingUSD 4 million for its headquarters.With this expansion, the company strengthened its presence in the North American market and created 173 new jobs at the facility. In June 2016, Hefty, a subsidiary of Reynolds Consumer Products, launched its new Ultra Strong trash bags. These new trash bags are powered by Arm &Hammer odor control and are offered in a variety of scents. The new line of trash bags also includes improved strength and break-resistant drawstrings. With this development, the company diversified its product portfolio further.
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