Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Inorganic Chemical Packaging market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Inorganic Chemical Packaging market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the Material, Packaging Format, and Regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Inorganic Chemical Packaging market are Greif, CL Smith, Schutz Container Systems, BWAY Corporation, Industrial Container Services, Sonoco Products Company, The Cary Company, TPL Plastech, Milford Barrel, Hoover Ferguson Group, Orlando Drum & Container Corporation, International Paper, Berry Global, Sealed Air, DS Smith, Snyder Industries among others. To achieve a substantial market, share in the worldwide Inorganic Chemical Packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
An industry that is focused on innovation constantly develops packaging solutions that are more efficient than conventional options. The need for secure packing options that are especially suited for shipping expensive items has grown in recent years. Demand for industrial chemical packaging has significantly increased as a result of increased production capacities in a variety of end-use industries, including food and beverage production and chemical processing, a wide range of new industrial applications for chemicals in cosmetics and personal care products and automotive, and R&D services. The chemical packaging market was significantly impacted by stringent regulatory bodies' requirements for the precise labelling of all hazardous compounds on containers. For the safe packaging of dangerous chemicals, cutting-edge bulk packaging solutions, such intermediate bulk containers, have been created. These containers are designed to handle a variety of uses. Flexible intermediate bulk containers are developed to make it easier to carry chemicals that are in powdered form while rigid intermediate bulk containers are built for liquid and granulated chemical commodities.
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Scope of Inorganic Chemical Packaging Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, Packaging Format, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Greif, CL Smith, Schutz Container Systems, BWAY Corporation, Industrial Container Services, Sonoco Products Company, The Cary Company, TPL Plastech, Milford Barrel, Hoover Ferguson Group, Orlando Drum & Container Corporation, International Paper, Berry Global, Sealed Air, DS Smith, Snyder Industries, and among others. |
Segmentation Analysis
The Plastic segment is expected to be the fastest-growing segment in 2022.
The Material segment includes Metal and Plastic. The Plastic segment is expected to be the fastest-growing segment in 2022. The most well-known recyclable plastics are high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and polyvinyl chloride (PVC), which provide the strength and durability needed for simple handling of industrial chemicals.
IBCs is expected to be the fastest-growing segment in 2022.
The Production Process segment includes Intermediate bulk containers (IBCs), Flexitanks, Drums, Pails & Jerry Cans, Bags & Sacks, and Others. IBCs is expected to be the fastest-growing segment in 2022. The production of rigid intermediate bulk containers made of plastic and stainless steel is only one example of the wide range of intermediate bulk containers available from manufacturers throughout the globe. The most popular form of intermediate bulk containers, which makes up about half of all intermediate bulk containers supplied, have a capacity of 800-1,250 litres.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Inorganic Chemical Packaging include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia pacific region witnessed a major share. The increased storage and transportation of hazardous chemicals is also anticipated to increase demand for IBC and steel drums, which are seen as secure packaging options for such goods. The desire for a solution that eliminates exposure to the outside environment is also on the rise, which contributes to the market's expansion in the area. Health hazards associated with chemical leakage and leach are another factor driving market expansion in the area.
Country Analysis
- Germany
Germany’s Inorganic Chemical Packaging market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.48 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. Opportunities for sales will arise in Germany as a result of the rise in demand for various dyes, pigments, paints, and coatings.
- China
China’s Inorganic Chemical Packaging market size was valued at USD 0.18 billion in 2022 and is expected to reach USD 0.63 billion by 2030, at a CAGR of 3.7% from 2023 to 2030.
China's expanding spending on trade operations and demand for chemical packaging are what are driving the demand for steel drums and IBCs there. For instance, based on revenue creation, China has had the largest chemical sector in the world since 2011. The sector has played a significant role in driving China's rapid economic expansion and has contributed to half of the growth of the global chemical market over the previous two decades.
- India
India's Inorganic Chemical Packaging market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 0.80 billion by 2030, at a CAGR of 3.9% from 2023 to 2030.
The second-largest food producer in the world is India. Industrial chemical packaging sales will have prospects due to the recent decade's growth in the use and production of different fertilisers, pesticides, and agrochemicals.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by increased in the market demand with chemicals mostly used in the food and medicinal sectors.
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