According to Technavio’s latest market research study, the global chemicals packaging market is expected to grow at a CAGR of more than 3% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global chemicals packaging market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
Global chemicals packaging market by sacks: Packaging sacks are standardized, flexible bulk bags used in industrial packaging mainly for dry, lose, or granulated materials. The growing demand for plastic-based packaging sacks, especially from industries such as the specialty chemicals sector, will contribute to the growth of the market. APAC is expected to be the major revenue-generating region during the next five years. The decline in price of raw materials such as the crude oil will further encourage vendors to increase their production at a profitable rate.
“Packaging sacks offer flexibility with respect to the structural modifications required for storage and transportation of various chemicals and fertilizers. These sacks come in different opening and discharge options such as open mouth and valve, and are easy to lift and transport. For example, in open mouth sacks, the filling is done by compression, while in valve sacks, tubes or spouts are used for filling the sacks,” says Ajay Adikhari, a lead analyst at Technavio for research on packaging.
Global chemicals packaging market by drums: Drums are manufactured by using various materials such as steel, rigid plastics, and fibers (paperboard). They are commonly used for transporting fuels, oils, liquids, and dry chemicals. Various components can be mounted onto the drum such as bung mixers and drum pumps. Though the demand for drums will gradually settle and progress at a modest rate, their popularity is not likely to diminish in the chemicals packaging industry owing to their low cost, easy portability, and multifaceted use.
Global chemicals packaging market by FIBC: FIBCs are standardized containers that come in various forms and types, suitable for packaging in the chemical industry and are used for packaging industrial products such as dry, granular, and semi-liquid goods. One of the main factors that is positively affecting the market is the growth of the chemical industry. FIBCs offer flexibility with respect to the structural modifications required for the chemical industry. Vendors are investing in technologies to meet the regulatory requirements such as the one ratified by the Occupational Safety and Health Administration (OSHA) in the US.
The top vendors operating in the global chemicals packaging market are:
- Amcor
- Bemis
- The Dow Chemical Company
- DuPont
- Mondi
Other prominent vendors in the market include Ardagh, Airlite Plastics, Champion Plastics, Emerald Packaging, Fabri-Kal, Georgia-Pacific, Gerresheimer, Graham Packaging, Huhtamaki, Innovia Films, Nampak, Owens-Illinois, Plastic Ingenuity, PolyOne, Sonoco, and Smurfit-Stone Container.
A more detailed analysis is available in the Technavio report titled, ‘Global Chemicals Packaging Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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