Chemicals Packaging Market Size Expected to Reach USD 21.23 Bn by 2032

The global chemicals packaging market size is calculated at USD 15.98 billion in 2024 and is expected to reach around USD 21.23 billion by 2032, expanding at a CAGR of 3.16% from 2023 to 2032.

/EIN News/ -- Ottawa, July 16, 2024 (GLOBE NEWSWIRE) -- The global chemicals packaging market size is predicted to increase from USD 15.43 billion in 2023 to approximately USD 21.23 billion by 2032, a study published by Towards Packaging a sister firm of Precedence Statistics.

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Key takeaways

• Asia-Pacific is at the forefront of the chemicals packaging revolution.
• North American market sees a significant rise in chemicals packaging.
• Dynamics of commodity chemicals packaging market are under exploration.
• Plastic packaging innovations are transforming the chemicals industry.
• Polypropylene's strength is revolutionizing chemicals packaging through bags.
  

Chemicals packaging refers to the specialized methods and materials used to contain, store, and transport chemical substances safely and efficiently. This type of packaging is crucial for ensuring that chemicals, which can be hazardous, remain stable and secure from production to end use.

The chemicals packaging market encompasses the various products and services involved in the creation and distribution of packaging solutions for chemical substances. This market includes a wide range of packaging types, such as drums, containers, bottles, and bags, each tailored to specific chemical properties and transportation needs.

Chemicals Packaging Market at a Glance

The chemicals packaging market is a crucial sector ensuring the safe storage, transportation, and handling of various chemical substances. This market includes a wide array of materials and container types designed to protect chemicals from environmental contamination and prevent leaks, spills, or other hazards. The demand for reliable and secure packaging solutions is driven by the increasing production and distribution of chemicals globally.

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The chemicals packaging market is poised for steady growth, driven by technological advancements, increasing production of chemicals, and the need for innovative, sustainable, and secure packaging solutions. Key players in the industry are continuously investing in research and development to meet the evolving demands and maintain a competitive edge.

Innovative Materials Driving the Chemicals Packaging Market

The development of innovative materials is a significant driver in the chemicals packaging market, enhancing the performance and safety of packaging solutions. Advanced materials such as new barrier coatings, multi-layer films, and smart packaging technologies are revolutionizing the industry by addressing critical challenges and improving overall efficiency.

One of the key benefits of these advancements is better containment of chemicals. Traditional packaging materials often struggle with preventing leaks and spills, which can be hazardous. However, the introduction of barrier coatings and multi-layer films provides superior protection, ensuring that chemicals are securely contained. These coatings create an impermeable layer that prevents the escape of harmful substances, thereby reducing the risk of accidents during transportation and storage.

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• For example, BASF's Ultramid Advanced N series is a recent innovation that offers high chemical resistance and strength, making it ideal for packaging aggressive chemicals.
  

Sustainable Packaging Technologies Driving the Market

Sustainable packaging technologies are becoming a pivotal driver in the chemicals packaging market as companies and consumers alike prioritize environmental concerns. Innovations in biodegradable and compostable materials, lightweight packaging, and improved recycling infrastructure are transforming industry, making it eco-friendlier and more cost-effective.

One of the most significant advancements is the use of biodegradable and compostable materials. These materials are designed to break down naturally over time, reducing the environmental impact of chemical packaging. For instance, BASF has developed a range of biodegradable polymers under the brand name ecoflex, which are used in various packaging applications. These materials decompose into water, carbon dioxide, and biomass, leaving no harmful residues behind. This innovation not only helps in reducing landfill waste but also aligns with the growing consumer demand for sustainable products.

Cost Fluctuations Restraining the Market

The cost of raw materials such as plastic resins and metals can be highly volatile, leading to price fluctuations in chemical packaging. This volatility impacts both manufacturers and consumers, as it can lead to unexpected cost increases and budgeting challenges. For example, in recent years, the price of polyethylene—a common plastic resin used in packaging—has seen significant spikes due to supply chain disruptions and increased demand. These fluctuations force manufacturers to either absorb the increased costs, potentially reducing their profit margins, or pass them on to consumers, which can affect market competitiveness.

A recent development illustrating this issue is the COVID-19 pandemic's impact on supply chains. The pandemic led to a significant disruption in the production and distribution of raw materials. In 2021, the price of plastic resins surged due to reduced production capacity and increased demand for plastic products.

The production processes for packaging materials are often energy-intensive, making them susceptible to fluctuations in energy prices. Manufacturing facilities that produce plastic, metal, and other packaging materials consume large amounts of energy, and any increase in energy costs can significantly impact production expenses.

• A notable example of this is the energy crisis in Europe in 2022, where natural gas prices soared due to geopolitical tensions and supply constraints. This surge in energy prices led to increased costs for manufacturing packaging materials, affecting the profitability of companies involved in the chemicals packaging market.
  

Focus on Single-use and Dose Packaging

The increasing demand for convenience and safety in handling hazardous chemicals is driving the adoption of single-use and dose packaging solutions. This trend is creating significant opportunities for the chemicals packaging market, as these innovative packaging formats offer several benefits, including enhanced safety, reduced waste, and improved user experience.

One of the primary advantages of single-use and dose packaging is the ability to provide pre-measured portions of chemicals. This approach minimizes the risk of handling errors, which is particularly important when dealing with hazardous or reactive substances. Pre-measured packs ensure that users only handle the exact amount of chemical needed for a specific application, thereby reducing the likelihood of accidents and exposure.

Asia-Pacific to Sustain as a Leader in the Chemicals Packaging Market

The Asia-Pacific region leads the chemicals packaging market, driven by robust economic and industrial development. Countries like China, India, and several Southeast Asian nations are experiencing rapid industrialization, which has significantly increased the demand for chemicals packaging solutions. This growth is further bolstered by the region's strong chemicals production capabilities.

China, as the world's largest producer of chemicals, plays a pivotal role in the market. The country's extensive industrial activities and advanced engineering capacity have made it a dominant force. The relaxation of COVID-19 restrictions in China towards the end of 2022 spurred economic activity, positively impacting the chemicals packaging sector.

• In January 2024, Southern Packaging expanded its ownership of Carboliq GmbH, reflecting its commitment to sustainable packaging solutions and chemical recycling.
• In October 2022, Perstorp was acquired by PETRONAS Chemicals Group Berhad, Malaysia's leading chemicals provider, enhancing its presence in the region.

India is another major player in the Asia-Pacific chemicals packaging market. As the sixth-largest chemicals producer globally and the third largest in Asia, India's chemicals and petrochemicals market is valued at around USD 178 billion and is projected to reach USD 300 billion by 2025. The demand for safe and efficient packaging solutions to store and transport chemicals is on the rise, driven by stringent regulations and the need to ensure safety and compliance.

India's chemicals packaging market is witnessing significant growth, supported by the country's expanding chemicals and petrochemicals industry. The government's push towards industrialization and the adoption of advanced packaging solutions are key drivers. India's stringent regulations on chemicals handling and transportation further emphasize the need for high-quality, safe packaging solutions.

• In March 2024, LG Chem showcased eco-friendly, carbon-dioxide-based plastics products at the Cosmoprof Bologna 2024 event, highlighting the industry's shift towards sustainable packaging solutions.
  

North America on to Grow at a Significant Rate

The chemicals packaging market in North America is experiencing significant growth, supported by the recovery in chemicals production and the increasing demand for reliable packaging solutions. The American Chemistry Council (ACC) reported a positive growth trend in the Global Chemicals Production Regional Index, with the U.S. chemicals production index showing a notable increase.

The U.S. chemicals industry is a major contributor to the market, with a diverse range of products including specialty chemicals and commodities. The region benefits from a robust trade network, with significant exports and imports of chemicals. North American manufacturers are focused on delivering high-performance packaging solutions that address specific industry needs, such as dust-free automatic filling and antistatic fabric features.

• In November 2023, Amcor signed a Memorandum of Understanding with NOVA Chemicals Corporation to purchase mechanically recycled polyethylene resin, advancing sustainable packaging initiatives.
  

Europe Remains a Key Market for Chemicals Packaging

Europe remains a key market for chemicals packaging, characterized by stringent regulatory standards and a strong emphasis on sustainability. The region's well-developed industrial base and high environmental awareness drive the demand for eco-friendly packaging solutions. European companies are at the forefront of innovation, developing advanced packaging materials and technologies to meet the evolving needs of the chemicals industry.

• In December 2022, BASF and StePac Ltd. announced a collaboration to explore sustainable packaging technologies for the fresh produce sector.
  

By Application, the Commodity Chemicals Segment Held the Largest Market Share in 2023

Commodity chemicals dominate the market due to their extensive use in various industries. These chemicals are produced in large volumes and are crucial for manufacturing products like plastics, synthetic fibers, and rubber. Their standardization and interchangeability make their packaging needs essential for safe storage and transportation.

By Material, the Plastic Segment Dominated the Market in 2023

Plastic is the leading material in this segment due to its versatility and cost-effectiveness. It is durable, lightweight, and resistant to most chemicals, making it ideal for packaging a wide range of chemical products. Despite environmental concerns, advancements in recyclable plastics are slowly making it a more sustainable choice.

By Product, the Bags & Sacks Segment Dominated the Chemicals Packaging Market

Bags and sacks, particularly those made from polypropylene, are the most dominant products. They offer excellent chemical resistance, durability, and ease of handling, making them ideal for transporting large quantities of chemicals safely. Their superior tensile strength ensures the secure containment of chemical products.

Key Market Players

• BASF
• Dow
• LG Chem
• LyondellBasell
• Mitsubishi Chemical Group
• Sinopec
• Sumitomo Chemical
• Toray Industries
• Amcor
• Berry Global
• Mauser Packaging Solutions
• Mondi Group
• ProAmpac
• Environmental Packaging Technologies
• Grief Inc.
  

Recent Breakthroughs in the Chemicals

• In January 2024, Southern Packaging increased its stake in Carboliq GmbH. This move exemplifies SÜDPACK's commitment to creating a closed-loop system for plastics and advancing chemical recycling technologies. The company has also started a trial to explore the feasibility of chemical recycling.
• In November 2023, Amcor, a leading provider of sustainable packaging solutions, signed a Memorandum of Understanding (MOU) with NOVA Chemicals Corporation. NOVA Chemicals, known for its responsible production of polyethylene, will supply Amcor with mechanically recycled polyethylene resin (rPE). This recycled resin will be used in producing flexible films.
• In January 2023, Shrieve Chemicals Co., part of the Gemspring Capital portfolio and known for its value-added chemical distribution, announced the acquisition of Chem One. This acquisition aims to strengthen Shrieve Chemicals' position in the market and expand its product offerings.
  

More Insights of Towards Packaging:

• The global ready-to-eat packaging market size showcasing remarkable growth from USD 361.0 billion in 2022 to unprecedented success eyeing towards USD 700.23 billion by 2032, at a growing 6.9% CAGR between 2023 and 2032.
  
• The global ready-to-drink packaging market size is estimated to grow from USD 145.71 billion in 2022 to reach an estimated USD 252.44 billion by 2032, at 5.7% CAGR from 2023 to 2032.
  
• The global modified atmosphere packaging market size is estimated to grow from USD 18.33 billion in 2022 to reach an estimated USD 34.65 billion by 2032, at 6.6% CAGR from 2023 to 2032.
  
• The global insulated packaging market size is estimated to grow from USD 14.38 billion in 2022 to set a foot on USD 27.64 billion by 2032, at 6.8% CAGR from 2023 to 2032.
  
• The global metal packaging market size was at USD 126.95 billion in 2022 to hit an estimated USD 185.21 billion by 2032, registering at a 3.9% CAGR from 2023 to 2032.
  
• The global sachet packaging market size is estimated to grow from USD 8.89 billion in 2022 to reach an estimated USD 15.2 billion by 2032, at 5.5% CAGR from 2023 to 2032.
  
• The global seaweed packaging market size is estimated to grow from USD 491.2 million in 2022 to reach an estimated USD 952.76 million by 2032, at 6.9% CAGR from 2023 to 2032.
  
• The global cold chain packaging market size was at USD 24.86 billion in 2022 to reach around USD 72.83 billion by 2032, registering at a 11.3% CAGR from 2023 to 2032.
  
• The global aluminium foil packaging market size is estimated to grow from USD 35.23 billion in 2022 to reach an estimated USD 56.57 billion by 2032, registering at a 4.9% CAGR from 2023 to 2032.
  
• The global tobacco packaging market size is estimated to grow from USD 15.37 billion in 2022 to reach an estimated USD 21.05 billion by 2032, registering at a 3.2 % CAGR from 2023 to 2032.

Market Segments

By Application

• Commodity Chemicals
• Petrochemicals
• Speciality Chemicals
• Construction Chemicals

By Material

• Metal
• Plastic
• Glass
• Paper & Paperboard

By Product

• Bags & Sacks
• Pails & Drums
• Intermediate bulk containers (IBCs)
• Bottles
• Others
  

By Region

• Asia Pacific
• North America
• Europe
• LAMEA

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