Global Industrial Bulk Chemical Packaging Market is segmented into Product Type (Intermediate Bulk Container, Composite IBC, Stainless Steel IBC, Carbon Steel IBC, Plastic IBC, Drums, Steel Drums, Plastic Drums, Fibre Drums, Flexitanks, Others), Material (Plastic, HDPE, LDPE, LLDPE, Metal, Stainless Steel, Carbon Steel, Wood, Fibre), Capacity (100 to 300 liters, 300 to 500 liters, More than 500 liters), End-User (Hazardous chemicals, Basic Inorganic Chemicals, Consumer Chemicals, Specialty Chemicals, Petrochemicals, Agrochemicals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
The "Global Industrial Bulk Chemical Packaging Market" is predicted to reach a high CAGR during the forecast period (2024-2031)
Industrial bulk chemical packaging stores and transports various chemicals such as Consumer Chemicals, specialty channels, basic inorganic chemicals, hazardous chemicals, and petrochemicals. The industrial bulk chemical packaging solutions available in the market include various drums, flexitanks, rigid IBCs, and others. Industrial bulk chemical packaging products are available in multiple capacity sizes ranging from 100 to over 500 liters. The governmental regulations and guidelines associated with the storage and shipment of the chemicals will impact the market.
Industrial Bulk Chemical Packaging Market Scope
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Product Type, Material, Capacity, End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Market Dynamics
The global industrial bulk chemical packaging market is expected to drive growing international trade and demand for cost-effective solutions.
Growing international trade
The growing international trade is expected to drive the global industrial bulk chemical packaging market in the forecast period. The trade growth between the countries has been influenced by several factors such as developing technology, industrial activities, government decisions, increasing competition, new trade agreements, etc.
The growing chemical trade among the countries creates a massive need for industrial bulk chemical packaging. For instance, The U.S. was the leading chemical importer with US$ 285 billion (EUR 243 billion) and exporting value of US$ 236 billion (EUR 201 billion). In comparison, China import and export of chemicals accounted for US$ 230 billion (EUR 196 billion) and US$ 170 billion (EUR 145 billion). The European chemical surplus grew from US$ 103 billion (EUR 88 billion) in 2010 to US$ 209 billion (EUR 178 billion) in 2020, equivalent to average annual growth of 7.3 %.
The companies have been forming various strategies and making new developments in the field with increasing scope and competition. For instance, in 2018, Four packaging firms BWAY, National Container Group, Mauser Group, and Industrial Container Services, integrated a new sustainability-focused firm, Mauser Packaging Solutions. The company will now offer packaging solutions for chemicals, petrochemicals, agrochemicals, etc.
Shortage of industrial packaging
The shortage of industrial packaging is responsible for restraining the growth of the industrial bulk chemical packaging market in the forecast period. The shortage resulted from several weeks' delay of many containers and drums, or the containers were stuck in the wrong ports and hindered production capacity due to staff absenteeism, creating shortages of industrial bulk chemical packaging globally.
Moreover, there has been a continual rise in polymer and steel prices, affecting industrial bulk chemical packaging production in the present scenario. Various countries have been reducing trade or increasing taxes on trade, affecting market growth. For example, China has increased export tax rebates on propylene, ethylene, and ethylene glycol.
COVID-19 Impact on Industrial Bulk Chemical Packaging Market Growth
Due to the pandemic, stakeholders across the industrial bulk chemical packaging industry have seen a notable impact as all the production work, factories, and other activities were closed. Production and demand were hindered by halts and supply chain disruption globally as the industrial bulk chemical packaging market is dependent on the trade and demand for the chemicals globally.
The market was negatively impacted by the huge decline in the logistics sector. The downfall in international trade and the closing of ports for a long time have directly impacted the growth of industrial bulk chemical packaging. In 2019, the world's top nine of the top ten importing countries reported negative growth rates for exports and imports. Shipping rates of containers are a significant component of trade costs, so the new price hike poses an additional challenge to the world economy. As a result, it struggles to recover from the global crisis.
Market Segmentation Analysis
The industrial bulk chemical packaging market is broadly classified into intermediate bulk containers (IBC), drums, flexitanks, and others by product type.
The intermediate bulk container is expected to grow at the fastest CAGR during the forecast period
The intermediate bulk container is expected to hold the largest market for the industrial measurement chemical packaging market and is expected to continue its dominance in the forecast period. IBCs are used to transport and store various types of chemicals. The end-users emphasize IBC due to its potential benefits such as efficient use of space, less labor cost, freight and storage costs, and elimination of disposal. The containers are available in various types of materials such as plastic, steel, and composites. Moreover, the intermediate bulk containers are also offered on a rental basis, offering cost-effective solutions to the consumers.
The companies have been extending their IBC range in the region with the growing demand. For instance, in 2020- Schoeller Allibert, the market leader in recyclable, reusable, and returnable plastic packaging solutions launched ChemiFlow, a U.N.-approved Intermediate Bulk Container designed to transport hazardous and highly corrosive chemicals.
In 2018- Greif launched GCUBE Shield, marking an important enhancement to its range of GCUBE intermediate bulk containers. Agrochemicals will be better protected against gasses lost, retaining their characteristics to ensure product effectiveness and performance.
Market Geographical Share
Asia-Pacific region holds the largest market for global industrial bulk chemical packaging globally.
Asia-Pacific region holds the largest market share for the industrial bulk chemical packaging market globally and is expected to continue its dominance in the forecast period. The region requires effective industrial packaging solutions with evolving industrial activities. With the increasing chemical industry in the countries like China and India, trade activities are also expected to increase in the sector.
For instance, China was the largest chemical exporting nation in 2019, with exports amounting to almost US$ 74 billion. Moreover, India holds the sixth position for chemical chemicals globally and the third position among Asian countries. The country is the third-largest producer of agrochemicals globally, contributing around 16% to the global dye intermediates and dyestuff production. These scenarios indicate the need for effective packaging for industrial bulk chemicals.
Europe also holds a significant market share in the industrial bulk chemical packaging market. The stringent rules associated with the transportation of hazardous chemicals have been a vital factor in shaping the industrial bulk chemical packaging business in Europe.
Industrial Bulk Chemical Packaging Companies and Competitive Landscape
The industrial bulk chemical packaging market is moderately competitive with the local player’s presence, followed by the global companies, contributing to a significant share in the market growth. In addition, some of the key players contributing to the growth of the market are Greif Inc, Amcor plc, Berry Global Inc., Sonoco Products Company, Holmen Group, Silgan Holdings Inc., Plastipak Holdings Inc., Sirap Group, Mauser Group B.V, Time Technoplast Ltd and others. The major players are adopting various new strategies to dominate the market, such as product launches, expansions, acquisitions, and collaborations, contributing to the growth of the Graphene battery market globally.
Greif Inc.
Overview: Greif, Inc. is a leading American manufacturing company based in Ohio. The company is focused on producing industrial packaging and containers. The company has 246 facilities located in 41 countries globally.
Product Portfolio: The Company is engaged in offering steel drums, plastic drums, fiber drums, land management, intermediate bulk containers, jerrycans, corrugated specialty products, and corrugated sheets for industrial packaging.
Key Development: In 2020- Greif Inc modified its existing drum mold according to consumer needs. The modification resulted in a lighter-weight drum with a geometric design featuring the same mechanical properties and high performance of a standard drum for chemical products.
The global industrial bulk chemical packaging market report would provide access to an approx: 69 market data tables, 67 figures, and 180 pages.
