Bulk Chemical Packaging Market Analysis: More than 30% of the Revenue to Be Generated by the Speciality Chemicals Segment in 2018, Which Is Expected to Increase Further by the End of 2027
The global market for Bulk Chemical Packaging was valued at US$ 9,498.3 Mn in 2017 and is projected to expand at a CAGR of 6.8% during the forecast period (2018-2027).
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In terms ofproduct type, the drums segment is expected to be the most attractive product segment in the Bulk Chemical Packaging market across the globe. Increase in the manufacturing sector is subsequently creating demand for Bulk Chemical Packaging. There is a high co-correlation between industrial output and demand for industrial packaging. Stabilised manufacturing sector output has enhanced the demand for Bulk Chemical Packaging. The Asia Pacific excluding Japan (APEJ) Bulk Chemical Packaging market is expected to lead the global Bulk Chemical Packaging market.
Bulk Chemical Packaging Market: Drivers & Restraints
The increase in the application of larger, higher-value containers is expected to fuel the growth of the global Bulk Chemical Packaging manufacturers. The global trade of industrial bulk chemical products has increased three-fold over the past two decades. Adoption of Bulk Chemical Packaging solutions among the chemical industry users has resulted in a spur in demand. Despite the positive factors, there are certain factors which hinder the growth of the global Bulk Chemical Packaging market. Fluctuating raw material prices have led to an increase in the prices of bulk containers. Moreover, the lack of imports is limiting the supply of raw materials, resulting in delayed deliveries, and increasing raw material prices. As a result, the profitability of the Bulk Chemical Packaging manufacturers is limited.
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Bulk Chemical Packaging Market: Taxonomy
The global market for Bulk Chemical Packaging is segmented by product type, capacity type, and end-use packaging applications.
By product type, the global Bulk Chemical Packaging market is segmented into:
- Drums
- IBC’s
- Flexitanks & Others
By capacity type, the global Bulk Chemical Packaging market is segmented into:
- 100-250 liters
- 250-500 liters
- Above 500 liters
By end-use packaging applications, the global Bulk Chemical Packaging market is segmented into:
- Consumer Chemicals
- SpecialtyChemicals
- Basic Inorganic Chemicals
- Polymers
- Petrochemicals
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By product type, the drums segment is expected to drive the global Bulk Chemical Packaging market, in terms of revenue during the forecast period. As per the volumetric analysis, by capacity, the 100-250 liters type is expected to dominate the global Bulk Chemical Packaging market. Bulk Chemical Packaging is gaining popularity due to its wide end-use packaging applications in consumer chemicals and specialty inorganic chemicals. Initiatives by global companies will further encourage consumers to use Bulk Chemical Packaging products. Bulk Chemical Packaging companies have gained significant opportunities during the forecast period.
Bulk Chemical Packaging Market: Key Developments
- On April 11, 2017, Mauser Group launched a skin liner barrier technology for its rigid plastics packaging solutions.
- In August 2017, Industrial Container Services, LLC acquired Buckner Barrel Sales Corporation.
- In August 2017, Industrial Container Services, LLC acquired Buckner Barrel Sales Corporation.
- In December 2015, Industrial Container Services, LLC acquired the Minneapolis/St. Paul-based businesses of Twin City Container, Inc.
Bulk Chemical Packaging Market: Acquisitions
- On 4 May 2015, Mauser group acquired Grief Plastic Drums and IBC businesses in Brazil.
- On April 01, 2015, Mauser announced the acquisition of IBC NA and Clean Tide Container to expand its footprint in the United States.
Bulk Chemical Packaging Market: Competitive Landscape
Among the key regional markets, the APEJ Bulk Chemical Packaging market is projected to exhibit relatively higher growth in the global Bulk Chemical Packaging market and will grow at a CAGR of over 6.8% during the forecast period. Revenue from the Bulk Chemical Packaging markets in North America and Europe is expected to collectively account for over 38.2% of the global Bulk Chemical Packaging market revenue in 2018.
In the global Bulk Chemical Packagingmarket report, we have discussed individual strategies followed by the company profiles. The ‘Competitive Landscape’ section is included in the global Bulk Chemical Packaging market report to provide report audience with a dashboard view and company share analysis of the top manufacturers operating in the global Bulk Chemical Packaging market report.
Key players operating in the global market for Bulk Chemical Packaging include Grief Inc., C.L.Smith Company, Schutz Container Systems, Inc., Mauser Group B.V., Industrial Container Services (ICS), Sonoco Product Company , Three Rivers Packaging Inc., TPL Plastech Ltd., Milford Barrel Co. Inc., Enviro-Pak Inc., Orlando Drum & Container Corporation, Fibrestar Drums Limited, Great Western Containers Inc., Patrick J. Kelly Drums, Inc., International Paper Company, Berry Global Inc., Sealed Air Corporation, DS Smith Plc., Hoover Ferguson Group, and Synder Industries Inc.