Growth of the Global Chemicals Packaging Market (2023 – 2032)
The global chemicals packaging market was valued at USD 14.90 billion in 2022 and is expected to reach USD 21.23 billion by 2032, growing at a compound annual growth rate (CAGR) of 3.61% from 2023 to 2032.
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Report Highlights: Key Insights
The global chemicals packaging industry, valued at USD 14.90 billion in 2022, is projected to grow steadily, reaching an estimated USD 21.23 billion by 2032. This growth is driven by a consistent compound annual growth rate (CAGR) of 3.61% from 2023 to 2032.
Asia-Pacific leads the way in this industry, while North America also sees significant growth, driven by the recovery of the chemicals manufacturing sector. The market for packaging of commodity chemicals is expanding, with plastic innovations playing a crucial role in transforming the industry. Specifically, polypropylene (PP) bags are gaining popularity due to their strength and resistance to chemicals.
Summary
The chemicals packaging industry plays a critical role in ensuring the safe transportation and storage of chemicals through specialized containers and packaging materials. Trends in the industry include a focus on safety, sustainability, and technological advancements. Economic growth in Asia-Pacific is driving the demand for chemicals packaging, while North America’s growth is fueled by a recovery in chemical manufacturing. The packaging of commodity chemicals, which serve a wide range of industries, is also growing, particularly as more companies enter the market.
Plastic packaging remains dominant, although eco-friendly alternatives are beginning to emerge. Polypropylene bags, known for their strength and chemical resistance, are leading this shift. Major companies like BASF, Dow, and LG Chem are developing new technologies and focusing on sustainability to meet the evolving needs of consumers.
Market Overview
Chemicals packaging refers to the containers, materials, and methods used to store and transport chemicals safely, preventing contamination and spills. The industry is essential for ensuring that chemicals are handled securely, minimizing environmental and health risks. Packaging materials must be chosen carefully to match the specific properties of the chemicals they contain, as different chemicals require different handling techniques.
The chemicals packaging industry continues to grow alongside the global economy, with the demand for re-packaging services also on the rise. This growth is driven by the increasing need for safe handling of chemicals, especially in industries like petrochemicals, specialty chemicals, and construction chemicals. Various packaging options are available, including drums, Intermediate Bulk Containers (IBCs), jerrycans, bottles, bags, and specialized containers.
The safety and regulation of chemicals packaging are crucial. Packaging must prevent leaks and spills and comply with strict standards. Inadequate packaging can lead to serious accidents, including fire and explosions, which could harm both people and the environment. Proper packaging includes clear labels and detailed handling and disposal instructions.
The chemicals packaging market is rapidly expanding, driven by the increasing demand for safe and reliable packaging solutions.
Example:
In January 2024, Southern Packaging expanded its ownership of Carboliq GmbH as part of its commitment to supporting closed-loop plastics recycling and advancing chemical recycling technology.
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