By 2033, the sector is expected to consistently expand at a 4.0% CAGR. According to FMI, the revenue share of the industrial chemical packaging market is predicted to rise from USD 133.58 billion in 2023 to USD 197.52 billion in 2033.
During the projected period, the industrial chemical packaging sector is anticipated to be driven by the expansion of global trade. Various reasons, including evolving technology, industrial activity, governmental decisions, escalating competition, new trade agreements, etc., have influenced the rise of commerce between nations.
To prevent supply-side shocks, shortages, and interruptions in supply, the governments of multiple impacted nations have pushed stakeholders in the food business to raise production.
FMCG firms are consequently asking for additional industrial chemical packaging materials. For instance, Britannia Industries has appealed to the Indian government to allow the transfer of raw materials and packaging materials across state lines in the supply chain.
| Attributes | Details |
|---|---|
| Industrial Chemical Packaging Market CAGR (2023 to 2033) | 4% |
| Industrial Chemical Packaging Market Size (2023) | USD 133.58 billion |
| Industrial Chemical Packaging Market Size (2033) | USD 197.52 billion |
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| Particulars | Details |
|---|---|
| Jan-Jun (H1), 2021 (A) | 3.6% |
| Jan-Jun (H1), 2022 Projected (P) | 3.4% |
| Jan-Jun (H1), 2022 Outlook (O) | 3.2% |
| BPS: H1,2022 (O) - H1,2021 (A) | -40 |
| BPS: H1,2022 (O) - H1,2021 (A) | -20 |
Driven by flooding demand for chemicals essentially used in the food and pharmaceutical industry, the global industrial chemical packaging market is likely to register positive growth. Also, a surge in demand for organic chemicals and various other types of additives is resulting in increasing sales of sustainable packaging solutions.
According to the report, the market is estimated to expand at 4.0% CAGR between 2023 and 2033, in comparison to the 3.5% CAGR registered from 2018 to 2022.
Manufacturers in the industrial packaging industry are adapting to the needs of modern-day consumers. Given this, the market share expanded from USD 105.40 billion in 2016 to USD 129.13 billion in 2022. Therefore, the focus is on consistent improvement in production technology, as market players aim for a competitive edge.
Leading players are leveraging their cutting-edge technologies to maintain their supremacy in the market, which results in a Y-o-Y increase of 3.4% in 2023. Established markets already use automated technologies for cutting, welding, and shaping different types of packaging solutions required by various industries.
State-of-the-art leak-detecting machinery and advanced testing solutions are designed for making sure that chemical packaging solutions adhere to international safety standards and comply with weight handling capacity.
In the past decade, manufacturing industries, including original equipment manufacturers and various types of value-added services providers, have witnessed a surge in demand for food & beverages, cosmetics, and pharmaceutical products. The emergence of new entrants in production and related services offers lucrative growth opportunities.
An increase in production capacities of various end-use industries, such as food & beverages, chemical processing, and research and development services, leads to higher adoption.
Other sectors, including automotive and cosmetics & personal care applications, have led to a sharp rise in demand for industrial chemical packaging.
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Innovation-driven packaging industry always comes up with more effective packaging solutions than traditional alternatives. In recent years, the demand for safe packaging solutions has increased, specially designed for transporting high-value goods.
Innovative bulk packaging solutions developed for the safe packaging of harmful chemicals, such as intermediate bulk containers, are made to cater to a wide range of applications. Rigid intermediate bulk containers are designed for liquid and granulated forms of chemical goods. Whereas, flexible intermediate bulk containers are made for easing the movement of chemicals in powdered form.
Manufacturers and exporters are using high-quality industrial packaging for their high-value goods, for risk-free transit of chemicals. Shipping and logistics partners also prefer spill-proof packaging to avoid the wastage of goods, and the surface of the transport vehicle or ship also remains unaffected.
Players in the packaging industry are confined to the production of primary and secondary packaging solutions, in which goods are to be packed directly or secondarily. Due to the advancement of technology and the launch of the latest packaging solutions, the demand for accessories and complementary products required for industrial packaging is rising across the globe.
Accessories such as different types of lids, caps & closures, locks, and pallets are used fo efficient usage of industrial chemical packaging solutions, thus, making it easy to handle for logistical partners along with end-user industries.
Rising demand for improvement in these accessories as a part of an improved packaging solution is likely to create opportunities for market growth.
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With a market share of 16.5% and a value of USD 21.30 billion in 2022, the United States leads the global demand for industrial chemical packaging.
As per the Federal Hazardous Substances Act (FHSA), all toxic, corrosive, flammable, and irritant products require labeling and safe packaging. It may result in illness or damage to the people and surrounding where it is stored or transported.
Strict regulations from regulatory authorities regarding specific labeling of all types of hazardous materials on the packaging had a profound impact on the United States market.
The market is driven by the increasing consumption of active pharmaceutical ingredients. This trend is expected to continue on account of the presence of leading pharmaceutical companies in the country.
Based on the aforementioned factors, the United States has emerged as a dominant market, accounting for nearly 60% of sales of industrial chemical packaging solutions in North America in 2021.
| Attributes | Statistics |
|---|---|
| United Kingdom Market Value 2022 | USD 3.91 billion |
| United Kingdom Market Value 2033 | USD 5.40 billion |
| United Kingdom Market CAGR (2023 to 2033) | 3.64% |
The industrial chemical packaging market in the United Kingdom is driven by the presence of the leading market players. The United Kingdom market is estimated to create an incremental opportunity of USD 1.7 billion, from 2023 to 2033.
Increasing investments in the production of organic chemicals are likely to fuel the demand for convenient packaging solutions. The demand for industrial chemical packaging in the United Kingdom is anticipated to grow 1.5x over the forecast period, making it the third-leading market in Europe.
The European Chemical Industry Council (CEFIC), along with various European regulatory authorities, has set specific quantitative limits on the packaging of hazardous chemicals while domestic and international transport.
The chemical industry must comply with regulations on classification, labeling, and packaging (CLP Regulations) meant for smooth and damage-free movement of hazardous materials across the globe.
Home to one of the leading automobile industries in the world, Germany has a market share of 4.8%, with a value of USD 6.25 billion in 2022. The surge in demand for various dyes and pigments, along with paints & coatings, is predicted to create opportunities for sales in Germany.
India is the second-leading food producer in the world. Growth in the consumption and production of various fertilizers, pesticides, and agrochemicals in the recent decade creates opportunities for sales of industrial chemical packaging.
The country ranks as the dominant producer of agrochemicals, according to the India Brand Equity Foundation (IBEF), and the chemical industry of India covers more than 70,000 commercial products.
Overall, a sharp rise in exports of chemicals produced in India results in high demand for packaging solutions fit for the international transportation of hazardous materials. As per FMI analysis, the industrial chemical packaging market in India is estimated to register a 7.14% CAGR, with a value of USD 13 billion by 2033.
| Attributes | Statistics |
|---|---|
| China Market Value 2022 | USD 8.5 billion |
| China Market Value 2033 | USD 15.4 billion |
| China Market CAGR (2023 to 2033) | 6.05% |
China is the world’s leading producer of chemicals. As per the European Chemical Industry Council (CEFIC), it accounted for more than 40% of chemicals sold across the globe. China held around 46% of the East Asia market in 2020.
The rising sophistication of industrial output in China and rapid investments helped manufacturers upgrade to advanced production technologies. The easy availability of raw materials and financial resources contributed to the growth in the production of all types of chemicals in the country.
Intermediate bulk containers (IBC) account for ~64% of the total industrial chemical packaging solutions sold across the world. A variety of intermediate bulk containers are produced by manufacturers in all parts of the world, such as rigid intermediate bulk containers made up of plastic and stainless steel.
RIBCs are likely to dominate the segment, with a market share of 96.1% in 2022. Intermediate bulk containers having a capacity of 800-1,250 liters are the most used type across, and they occupy nearly half of the total intermediate bulk containers sold. Overall, the intermediate bulk containers offer an incremental opportunity of more than USD 34.1 billion between 2023 and 2033.
As per FMI, plastic emerged as the most preferred material used by manufacturers of industrial chemical packaging. Approximately 40% of industrial chemical packaging solutions were produced using plastics as raw material in 2020.
Different variables of recyclable plastics, such as high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and polyvinyl chloride (PVC), are the most famous plastic types. This is because they offer the durability and strength required for easy handling of industrial chemicals. Steel, with a share of 75.8% in 2022, is the second-leading segment in the market after plastic.
Heavy investments in research & development have enabled producers to develop metalized polyethylene terephthalate (MET-PET), which does not absorb moisture and is 100% recyclable and making it perfect for the safe transportation of hazardous and high-value chemicals to distant places.
The specialty chemicals segment is anticipated to exhibit a 4.4% CAGR during the forecast period. Outpouring demand for various specialty polymers, polymer additives, dyes & pigments, and a wide range of pharmaceutical and agricultural chemicals aims at higher specialty chemicals production.
The rapid rise in demand for active pharmaceutical ingredients for the production of various medicinal drugs and feed additives spurred the demand for industrial chemical packaging. The specialty chemicals segment creates a total incremental opportunity of more than USD 36.5 billion between 2023 and 2033.
Due to their increased ability to introduce novel solutions to the market, startups are becoming increasingly important in the industrial chemical packaging sector. New technologies like big data, sophisticated analytics, robots, and artificial intelligence are being used by startups to develop products that can increase the effectiveness of packaging operations.
These solutions are assisting in lowering operating expenses and enhancing the safety of the packaging procedure. New materials and designs are also being introduced by start-ups, which may assist to lighten the weight of the packages and increase their sustainability. Additionally, start-ups are offering innovative packaging designs that are simpler and more user-friendly.
Companies operating in the industrial chemical packaging market are aiming at strategic expansions and collaborations. Partnerships with key end users, such as chemical manufacturers and logistical partners, are aiming at developing efficient industrial chemical packaging solutions.
The industrial chemical packaging market CAGR for 2033 is 4%.
The market is estimated to reach USD 197.52 billion by 2033.
DePuy Synthes, Zimmer Biomet, and Smith & Nephew are key market players.
The market is estimated to secure a valuation of USD 133.58 billion in 2023.
The market trends are sustainability, lightweight, and safety.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging Format 5.3.1. Intermediate Bulk Containers (IBCs) 5.3.1.1. Rigid Intermediate Bulk Containers 5.3.1.2. Flexible Intermediate Bulk Containers 5.3.2. Flexi tanks 5.3.3. Drums 5.3.4. Pails & Jerry Cans 5.3.5. Bags & Sacks 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.3.1. Metal 6.3.1.1. Steel 6.3.1.2. Tin 6.3.2. Plastic 6.3.2.1. Polyethylene 6.3.2.2. Metalized Polyethylene Terephthalate 6.3.2.3. Polyvinyl Chloride 6.3.2.4. Polyamide 6.3.2.5. Polypropylene 6.3.2.6. Polystyrene 6.3.3. Paper & Paperboard 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Chemical Type 7.3.1. Specialty Chemical 7.3.1.1. Paints & Coatings 7.3.1.2. Adhesives & Sealants 7.3.1.3. Specialty Polymers 7.3.1.4. Polymer Additives 7.3.1.5. Agrochemicals 7.3.1.6. Dyes & Pigments 7.3.1.7. Active Pharmaceutical Ingredients 7.3.1.8. Others 7.3.2. Commodity Chemicals 7.3.2.1. Monomer & Polymer Resins 7.3.2.2. Inorganic Chemicals 7.3.2.3. Organic Chemicals 7.3.2.4. Petrochemicals 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. Middle East & Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1.1. ProAmpac 16.1.2. Tote Systems International, LP 16.1.3. US Display Group 16.1.4. Myers Industries, Inc. 16.1.5. Assmann Corp. of America 16.1.6. DENIOS Ltd. 16.1.7. Hoover CS 16.1.8. Segezha Group Gmbh 16.1.9. CLA Containers 16.1.10. Greif, Inc. 16.1.11. RIKUTEC Group 16.1.12. Pyramid Technoplast Pvt. Ltd. 16.1.13. Tripura Containers Private Limited 17. Assumptions & Acronyms Used 18. Research Methodology
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Industrial Chemical Packaging Market
