Global Petrochemical Packaging Market is Segmented By Chemical Type (Olefins, Aromatic), By Product Type (Bags and Sacks, Intermediate Bulk Containers (IBC's), Pails and Drums, Flexitanks, Others), By Capacity (100-250 Liters, 250-500 Liters, More than 500 Liters), By Application (Polymer, Solvent, Rubber, Adhesives, and Sealants, Fuels, Others), By End-User (Paints & Coatings, Household, Pharmaceutical, Automobile, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Petrochemical Packaging Market Overview
The Global "Petrochemical Packaging Market" is expected to reach at a CAGR of 6% during the forecast period (2023-2030).
Packaging petrochemical is a challenging task. When packaging certain chemicals such as sulfur and ammonia, the number of options is often quite a few. If done improperly, the industrial petro-chemical can have a long-lasting negative impact on the environment, can cause harm to the end-user or the warehouse workers or can just be rendered ineffective. Plastics have been the primary packaging material. Even though plastics harm the environment, in the case of these types of chemical packaging, plastics are the safest. However, since plastic usage is regulated, alternative packaging solutions are also explored.
Petrochemical Packaging Market Scope
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Metrics |
Details |
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Market CAGR |
6% |
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Segments Covered |
By Chemical Type, By Product Type, By Capacity, By Application, By 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 key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
Asia Pacific |
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Source: DataM Intelligence Analysis (2021)
Petrochemical Packaging Market Dynamics
Stringent regulations over chemical packaging are expected to drive the petrochemical packaging market. However, fluctuating prices due to dependence on raw materials will likely hinder the market.
Stringent regulations over chemical packaging are expected to drive the petrochemical packaging market
Many common petrochemicals such as ammonia and sulfur can be corrosive and toxic. Even when confined, there is always a risk of exposure or spill if the packaging is improper. Due to speed demands, hazardous spills and costly injuries might result from container flaws or mismanaged products. Industrial packing machinery decreases this risk by removing workers from potentially hazardous materials and replacing human error with mechanical control.
The government and regulatory bodies have made stringent regulations over the packaging of petrochemicals. For instance, in Europe, ADR European Agreement communicates the significance of choosing the appropriate packaging for hazardous petrochemicals such as sulfur and ammonia.
Moreover, a few newly developed packaging fulfill the security worries and give a sustainable impression. Generally, several chemical manufacturers have fundamentally utilized buckets and drums in moving their items. For instance, sack in-box and modern mass compartments consider more items per bundle and they are folding, decreasing landfill space and transportation costs.
Fluctuating prices due to dependence on raw materials are likely to hinder the market
Companies struggle effectively pass judgment on the danger of emphatically fluctuating raw materials costs. Exceptionally fluctuating raw materials prices and low-value executives enormously imperil an organization's prosperity. Besides, the expense of the unrefined components utilized in the assembling is at record-breaking highs. Arranged support and expanded products of unrefined substances have also prompted distinctive market characteristics.
COVID-19 Impact Analysis
As per the American Chemistry Council, essential synthetic substances, including natural synthetics, inorganics synthetic substances, plastic tars, engineered elastic and fabricated filaments, seen a global creation increment of 1.4% between January 2020 and August 2020. Besides, the creation of strength chemicals endured a huge shot as the global creation declined by 11.2%. Particularly for specialty chemicals, like coatings, the creation fell by 25.2% between January 2020 to August 2020, which contrarily influenced the utilization of packaging.
Petrochemical Packaging Market Segment Analysis
The Petrochemical packaging market is segmented into bags and sacks, intermediate bulk containers (IBC's), pails and drums, flexitanks, and others based on product type.
Bags and sacks are more environmental-friendly than plastic packs because of the expanding worry over plastic packaging waste produced globally, which has prompted state-run administrations to adjust to elective sources like biodegradable packaging. U.S. represents just 4% of the total populace and produces 2% of globally Municipality Solid Waste (MSW). Similarly, U.S. produces around 106.2 kg of plastic waste per individual each year.
Moreover, the fast shift toward reasonable packaging arrangements further animates the sack suppliers to advance and give recyclable or economical sacks to modern purposes. For instance, ExxonMobil offers a scope of execution P.E. polymers, including Exceed XP and ExxonMobil HDPE, among different items, to set out a few open doors for separated, suitable and rock-solid sack packaging.
Source: DataM Intelligence Analysis (2021)
Petrochemical Packaging Market Geographical Share
The Petrochemical packaging market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.
The interest for steel drums and IBCs in China is driven by expanding spending on exchange exercises and developing an interest in substance packaging. For example, China's compound industry has been the biggest globally, given income age starting around 2011. The business has added to half of the development of the world compound market for the beyond twenty years and has played a significant catalyst for China's high financial development.
The developing occurrences of capacity and transportation of dangerous synthetics are also expected to cultivate IBC and steel drums as they are seen as protected pressing answers for such items. Further, inferable from the wellbeing hazards presented by synthetic compounds upon spillage and drain followed by the interest for an answer that forestalls openness to the extreme climate keep on rising, drives the development of the market in the area.
Source: DataM Intelligence Analysis (2021)
Petrochemical Packaging Market Companies and Competitive Landscape
The petrochemical packaging market is highly competitive with several end-use industries, resulting in high investment by multinational and local companies, contributing to the major share in the market growth. In addition, major players contributing to the market's growth are Greif Inc., Mauser Packaging Solutions, Mondi Group, Ampac Holdings, Environmental Packaging Technologies, CL Smith, SCHÜTZ GmbH & Co. KGaA., BWAY Corporation, Industrial Container Services, Berry Global Inc. and others. In addition, the companies are adopting growth strategies such as expansions, acquisitions, product launches and collaborations, contributing to the market growth globally.
Greif Inc.
Overview: Greif, Inc. is an American manufacturing company. The company was originally a manufacturer of barrels, is now focused on producing industrial packaging and containers. It is headquartered in Ohio, U.S.
Product Portfolio: Greif, Inc. offers different models of plastic drums, cardboard drums and IFBs to fit most consumers' needs depending on chemical compatibility.
Key Development:
- In May 2020, Greif Inc. developed GCube Connect IBCs, which are used to store and transport liquids and free-flowing materials, collaborating with Sigfox 0G network connectivity.
Why Purchase the Report?
- Visualize the composition of the petrochemical packaging market segmentation by chemical type, product type, capacity, application, end-user and region, highlighting the key commercial assets and players.
- Identify commercial opportunities in the petrochemical packaging market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of petrochemical packaging market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global petrochemical packaging market report would provide access to an approx. 77 market data table, 84 figures and 180 pages.
Target Audience
- Manufacturers of Petrochemical
- Food & Supplements Manufacturers
- Pharmaceutical Companies
- Packaging Manufacturers
- Investment Research Firms
