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.
Core Concepts in Industrial Chemical Packaging
- CAGR for 2033: The industrial chemical packaging market is projected to grow at a 4% CAGR through 2033.
- Market Size by 2033: The market is estimated to reach US$ 197.52 billion by 2033.
- Current Market Valuation (2023): The market is valued at US$ 133.58 billion in 2023.
- Key Market Players: Leading companies include DePuy Synthes, Zimmer Biomet, and Smith & Nephew.
- Current Market Trends:
Sustainability: Increasing focus on eco-friendly and recyclable packaging materials.
Lightweight Packaging: Demand for lighter packaging solutions to reduce transportation costs and carbon footprint.
Safety: Enhanced safety features to ensure the secure handling and transportation of hazardous chemicals.
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Key Drivers of Market Growth
- Expansion of Global Trade: The growth of global trade is a major driver of the industrial chemical packaging market. Factors such as evolving technology, increased industrial activity, governmental policies, escalating competition, and new trade agreements are contributing to the rise in commerce between nations.
- Supply Chain Resilience: To prevent supply-side shocks, shortages, and interruptions, governments of various nations have encouraged stakeholders in the food industry to ramp up production. This has led to increased demand for industrial chemical packaging materials.
- FMCG Sector Demand: Fast-Moving Consumer Goods (FMCG) companies are increasingly seeking additional industrial chemical packaging solutions. For example, Britannia Industries has urged the Indian government to facilitate the transfer of raw materials and packaging materials across state lines, ensuring a seamless supply chain.
Key Takeaways from the 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.
“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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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