The industry is anticipated to grow steadily at a 4.0% CAGR until 2033. The revenue share of the industrial chemical packaging market is anticipated to increase from US$ 133.58 billion in 2023 to US$ 197.52 billion in 2033, according to FMI.
The expansion of international trade is likely to be a major driver of the industrial chemical packaging sector during the forecasted period. The expansion of international trade has been driven by a number of factors, including changing technology, industrial activity, governmental choices, increasing competition, new trade agreements, etc.
The governments of several affected countries have pushed the food industry’s players to increase production in order to avoid supply-side shocks, shortages, and interruptions in supply.
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As a result, FMCG companies are requesting more industrial chemical packaging materials. For instance, Britannia Industries has requested that the Indian government permit the supply chain’s cross-state movement of raw materials and packaging materials.
Industrial packaging producers are adjusting to meet the demands of contemporary markets. All enterprises, big or small, must upgrade their production technology continuously to remain competitive in the market.
Modern leak detection equipment and sophisticated testing methods are created to ensure that the chemical packing solution complies with weight handling capacity and international safety standards.
Key Takeaways from Industrial Chemical Packaging Market
- Intermediate bulk containers are the most widely used packaging format for safe and easy transportation of industrial chemicals, as these containers are versatile, pallet mounted cost-effective. IBC’s currently account for more than 64% of industrial chemical packaging solutions sold worldwide.
- Backed by the presence of the renowned pharmaceutical companies in the country, the U.K. is the largest consumer of chemical packaging solutions. The U.K. market is anticipated to offer incremental opportunities worth US$ 5.40 billion over the next decade.
- Recyclable and re-usable features make plastic preferred material in the industrial chemical packaging market. It is expected to account for over 40% of packaging solutions produced over the forecast period.
- After witnessing slight decline in FQ-20, Germany market is expected to register a y-o-y growth of almost 4.8 % in the year 2022.
- Specialty chemicals segment will offer incremental opportunity of US$ 197.52 Bn between 2023 and 2033.
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“Meteoric rise in demand for advanced packaging solutions for hazardous materials, due to the implementation of stringent international safety standards for storage and transportations of harmful chemicals is pushing the demand for advanced leak-proof packaging products,” says FMI analyst.
Key players
- ProAmpac
- Tote Systems International, LP
- US Display Group
- Myers Industries, Inc.
- Assmann Corp. of America
- DENIOS Ltd.
- Hoover CS
- Segezha Group GmbH
- CLA Containers
- Greif, Inc.
- RIKUTEC Group
- Müller Group
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Key segments
By Packaging Format:
- Intermediate bulk containers (IBCs)
- Flexitanks
- Drums
- Pails & Jerry Cans
- Bags & Sacks
- Others (Bins & Liners, etc.)
By Material:
- Metal
- Plastic
- Paper & Paperboard
By Chemical Type:
- Specialty Chemicals
- Commodity Chemicals
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
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