; Chemicals Packaging Market size, Share, Forecast, 2032

Chemicals Packaging Market

Chemicals Packaging Market Size, Share, and Analysis, By Product Type (Bags and Sacks, Intermediate Bulk Containers, Pails and Drums, Flexible IBCs and Related Flexible Packaging Products, Other Product Types), By Material Type (Glass, Plastics, Composite materials, Metals), By Application (Pharmaceutical, Commodity Chemicals, Specialty Chemicals, Petrochemicals, Other Applications) and Regional Forecasts, 2022-2032

Published on: Oct-2023
Report Code: FG CHM 01686
No. of Pages: 170-350
Report Format: PDF

Product Overview

Chemicals Packaging Market size was USD 22.65 billion in 2021 and projected to grow from USD 24.2 billion in 2023 to USD 32.4 billion by 2032, exhibiting a CAGR of 3.3% during the forecast period.

Chemicals packaging denotes to the process and items utilized to maintain safety and protection, while transportation of different chemicals. Chemicals are present in various forms like solids, liquids, gases, and powders possessing different properties like toxicity, corrosiveness, flammability etc. Proper packaging is important to prevent the potential risk connected with these chemicals. Chemicals packaging plays vital role in confirming the safe storage, handling, and transportation of chemicals. Commonly used chemicals packaging materials are metals, plastics, glass, and composite materials.

Market Highlights

Chemicals Packaging Market is expected to project a CAGR of 3.3% during the forecast period, 2022-2032

Chemicals Packaging Market is expected to reach USD 32.4 billion, growing at a CAGR of 3.3% during forecast period owing to the increasing demand for safe and effective packaging solutions for different chemicals. The growing industrialization, rising trade, and increasing necessity for chemicals from various sectors like agriculture, pharmaceuticals, automotive, etc. is creating demand for the growth of the market. The evolution of creative packaging solutions that comply with safety regulatory guidelines may boost market growth. Growing focus on sustainability, safety, and customization is boosting the growth of the chemicals packaging market.

Chemicals Packaging Market Segmentation

Bags and Sacks segment is expected to grow with high CAGR during the forecast period

Chemicals Packaging Market is classified based on the Product Type into Bags and Sacks, Intermediate Bulk Containers, Pails and Drums, Flexible IBCs and Related Flexible Packaging Products, Other Product Types. Bags and Sacks segment is expected is expected to dominate the market in the forecast period owing to their availability in different shapes, sizes, and configurations, giving flexibility in packaging various chemical types. They are created to avoid spills, leaks, and contamination, while handling, storage, and transportation. Bags and sacks are cost-effective solution for packaging and are lightweight which assist in low transportation costs.

Composite materials segment is expected to grow during the forecast period

Chemicals Packaging Market is classified based on the Material Type into Glass, Plastics, Composite materials, Metals. Composite materials segment is expected to dominate the market in the forecast period as they can be composed to display high chemical resistance by maintaining safety and protection for various chemicals and can be created to be environment friendly. Composite materials resist exposure to corrosive substances, acids, aggressive solvents, bases, or reactive chemicals without compromising the integrity of packaging.

Market Dynamics

Growth Drivers

Increasing Demand for Chemicals is Expected to Boost the Growth of the Market

The demand for utilizing chemicals for various activities is increasing in different industries like agriculture, pharmaceuticals, consumer goods, automotive, construction etc. which creates the necessity for structural and reliable packaging solutions to verify the safety while transportation, storage, and handling. The development of trade and supply chains related to chemicals is increasing and they are transported over long distances which need rigid packaging that can resist the harshness while transportation and assure safety and compactness of chemicals.

Advancements in Technology Related to Packaging Material is Expected to Boost the Growth of the Market

Several developments for modern packaging solutions for various chemical materials are being evolved and the innovative technologies are expected to enhance the performance and effectiveness of chemicals packaging. Advancements include the use of high-performance barrier films, tamper-evident features, intelligent sensors included packaging, anti-counterfeiting measures which are expected to drive the demand for accepting new packaging solutions and thereby boosting the growth of the chemicals packaging market.

Restraint

Strict Regulatory Issues May Restrain the Growth of the Market

Chemicals packaging market is required to comply strict regulatory requirements imposed by governments and following these regulations involve investments which may restrain market growth. The correct discarding and recycling of packaging materials is tough and costly process which may also hamper the market growth.

Recent Developments

  • In September 2022, The Envicco advanced recycling facility was initiated in Thailand by Alpla Group and Thai chemical corporation PTT Global Chemical, to manage and process packaging generated from post-consumer recycled resins.
  • In August 2022, Mauser Packaging Solutions declared the expansion of number of items produced by them under the Infinity Series while keeping money in machinery and software that aid circular economy.

Chemicals Packaging Market

Key Players Covered:

  • Ardagh
  • Fabri-Kal
  • The Dow Chemical Company
  • Emerald Packaging
  • DuPont
  • Mondi
  • Innovia Films
  • Gerresheimer
  • Nampak
  • Graham Packaging
  • Sonoco
  • Amcor
  • Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Chemicals Packaging Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific region dominated the chemicals packaging market in 2021 and is expected to continue its dominance in the market over the forecast period owing to the increasing developments in industrial sector, rising foreign direct investment and growing exchange rates which is expected to create demand for the growth of the chemicals packaging market in the forecast period. Several countries in this region are aiming in production and consumption of chemicals which is anticipated to create demand for the growth of the chemical packaging market.

Impact of Covid-19 on Chemicals Packaging Market

The COVID-19 outbreak had resulted in the economic downfall. The transportation and travelling were disrupted due to the pandemic which resulted in the downfall of the economies globally. Pandemic caused notable economic disruptions globally. Irregularities in timings and extremeness of emergencies resulted in thoughtful spending. The chemical packaging market faced several challenges due to the decreased budgets, delay in starting projects which affected the market growth. Covid-19 had a negative impact on the growth of the Chemicals Packaging Market.

Chemicals Packaging Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Chemicals Packaging Market Scope and Segments:

ATTRIBUTE

  DETAILS

Study Period

2018-2032

Base Year

2022

Forecast Period

2022-2032

Historical Period

2019-2021

Growth Rate

CAGR of 3.3% from 2022-2032

Unit

Value (USD Billion)

Segmentation

Main Segments List

Product Type

  • Bags and Sacks
  • Intermediate Bulk Containers
  • Pails and Drums
  • Flexible IBCs and Related Flexible Packaging Products
  • Other Product Types

Material Type

  • Glass
  • Plastics
  • Composite materials
  • Metals

Application

  • Pharmaceutical
  • Commodity Chemicals
  • Specialty Chemicals
  • Petrochemicals
  • Other Applications

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Scandinavia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions (FAQ):

Chemicals Packaging Market size was estimated at USD 22.65 billion in 2021 and is expected to reach USD 32.4 billion in 2032.

Bags and Sacks and Composite materials segment accounted for the highest growth rate in the Chemicals Packaging market.

Leading players: Ardagh, Fabri-Kal, The Dow Chemical Company, Emerald Packaging, DuPont, Mondi, Innovia Films, Gerresheimer, Nampak, Graham Packaging, Sonoco, Amcor and Other Prominent Players are the leading players in the Chemicals Packaging Market.

Increasing Demand for Chemicals and Advancements in Technology Related to Packaging Material are the factors driving the Chemicals Packaging market.

The necessity to comply strict regulatory requirements of government which involve investing are the challenges associated with the Chemicals Packaging Market.

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