Chemical Shield: Industrial Chemical Packaging Market Set to Soar to US$ 197.52 Billion by 2033

With a projected Compound Annual Growth Rate (CAGR) of 4.0%, the industrial chemical packaging market is poised for consistent expansion by 2033. As per Future Market Insights (FMI), the revenue share of this sector is anticipated to witness a substantial increase, climbing from US$ 133.58 billion in 2023 to an estimated US$ 197.52 billion by 2033. This optimistic forecast underscores the persistent demand for effective and innovative packaging solutions within the industrial chemical sector, reflecting a positive outlook for manufacturers and stakeholders navigating the dynamic landscape of chemical packaging over the next decade.

The global industrial chemical packaging market is poised for growth, propelled by a rising demand for chemicals crucial in the food and pharmaceutical sectors. Additionally, the uptick in requests for organic chemicals and diverse additives is fostering a market shift towards sustainable packaging solutions. This trend underscores the industry’s responsiveness to evolving consumer preferences and regulatory pressures, emphasizing the pivotal role of industrial chemical packaging in ensuring the safe and sustainable transport of diverse chemical products across the food, pharmaceutical, and related sectors.

Boasting a substantial market share of 16.5% and a value reaching US$ 21.30 billion in 2022, the United States stands at the forefront of global demand for industrial chemical packaging. Stringent regulations, such as the Federal Hazardous Substances Act (FHSA), mandate labeling and secure packaging for toxic, corrosive, flammable, and irritant products to prevent potential harm to individuals and the environment. The market’s momentum is further fueled by the escalating consumption of active pharmaceutical ingredients, a trend expected to persist due to the significant presence of leading pharmaceutical companies in the country.

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Business Growth:

1. Stringent Regulations: Increasing regulations regarding the safe transportation and storage of chemicals drive the demand for specialized and compliant packaging solutions.
2. Globalization of Trade: The globalization of trade has led to an increase in the transportation of chemicals across borders, creating a higher demand for secure and durable packaging solutions to ensure the safety of products during transit.
3. Rising Chemical Production: The growth in chemical manufacturing and production industries worldwide contributes to the demand for efficient and protective packaging solutions.
4. Technological Advancements: Innovations in packaging materials and technologies, such as the development of lightweight and high-barrier materials, enhance the safety and efficiency of chemical packaging.
5. Increased Awareness of Environmental Impact: Growing environmental concerns lead to a demand for sustainable and eco-friendly packaging solutions, promoting the development of recyclable and biodegradable materials.
6. E-commerce Growth: The expansion of e-commerce platforms has created new challenges and opportunities for industrial chemical packaging as companies strive to develop packaging solutions that can withstand the unique demands of online distribution.

Business Trends:

1. Cost of Compliance: Adhering to strict regulations and standards for chemical packaging can be costly for manufacturers, impacting profit margins and potentially leading to higher prices for end-users.
2. Fluctuating Raw Material Prices: The prices of raw materials used in chemical packaging, such as plastics and metals, can be volatile, affecting the overall production costs and pricing of packaging solutions.
3. Complexity of Supply Chains: Global supply chain complexities, including customs regulations, transportation challenges, and geopolitical issues, can create obstacles for the smooth and efficient distribution of chemical products.
4. Environmental Concerns: While there is a growing demand for eco-friendly packaging, the development and implementation of sustainable solutions may present challenges in terms of cost, technology, and regulatory compliance.
5. Product Compatibility: Packaging materials must be compatible with the specific chemical products they contain to ensure safety and prevent contamination. Finding suitable materials for a wide range of chemicals can be challenging.
6. Competition from Alternative Packaging Solutions: The industrial chemical packaging market faces competition from alternative packaging solutions, such as bulk containers and intermediate bulk containers (IBCs), which may offer cost advantages in certain scenarios.

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.S. is the largest consumer of chemical packaging solutions.  The U.S. market is anticipated to offer incremental opportunities worth US$ 4.4 Bn 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% in the year 2021.
• Specialty chemicals segment will offer incremental opportunity of US$ 36.5 Bn between 2021 and 2031.

Industrial Chemical Packaging Market Landscape

Some of the key players dominating the global industrial packaging market are

• 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,
• Knack Packaging Private Limited,
• Mauser Group B.V.,
• PVN Fabrics Pvt. Ltd.,
• Time Technoplast Ltd.,
• Pyramid Technoplast Pvt Ltd.,
• Tripura Containers Private Limited,
• East India Drums & Barrels Mfg. Co and
• Schuetz GmbH & Co. KGaA.

Recent Developments-

• In October 2020, Myers Industries, Inc. acquired Elkhart Plastics, Inc., which is the fifth-leading rotational molder in the United States, to strengthen its product portfolio. The move is seen as part of its long-term strategic plan for transforming the company into a high-growth producer of engineered plastic solutions.
• In April 2021, ProAmpac acquired two companies named IG Industries PLC and Brayford Plastics Ltd., based in the United Kingdom, for the production of recyclable packaging solutions.

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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
• Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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