Global Consumer Chemical Packaging Market - 2021-2028

Global Consumer Chemical Packaging Market - 2021-2028

Market Overview

The global consumer chemical packaging market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).

Consumer goods are chemical products offered to Canadians for use in their homes and have specific risks (poison, explosive, corrosive, or flammable). Consumer products utilize symbols other than WHMIS, such as an octagon or an inverted triangle, to indicate whether the container's contents or the container itself are hazardous. A consumer utilizes a chemical product and contains one or more of the following properties: poisonous, corrosive, flammable and rapid skin-bonding adhesive.

A pressurized container that is or is likely to be used by a consumer, including an empty container or an empty container destined for use by a consumer to store or dispense a chemical product, or any other container that is or is likely to be used by a consumer to store or dispense a chemical product, is referred to as a container. Manufacturers are responsible for labeling consumer items with detailed information about dangers and safe product use: Hazard Symbol, Signal word, Hazard Statement, Safety Instruction and First Aid Statement on the product container.

Market Dynamics

Due to the rising preferences for higher valve containers for storing large volumes of chemicals, increased national and global bulk chemical trade, increased number of applications from emerging economies and the adoption of innovative packaging solutions, the consumer chemical packaging market is expected to grow. The essential factors influencing market growth and providing a variety of chances for identifying potential resources.

High demand for safe packaging solutions

Driven by innovation, the packaging business consistently produces more effective packaging solutions than traditional options. The demand for safe packing solutions, specifically developed for shipping high-value items, has surged in recent years.

Innovative bulk packaging solutions, such as intermediate bulk containers, were created for the safe packaging of hazardous chemicals and are suitable for a wide range of applications. Flexible intermediate bulk containers are meant to facilitate the movement of chemicals in powdered form, whereas rigid intermediate bulk containers are suited for liquid and granulated forms of chemicals.

Rising demand for accessories and support products

The packaging industry's players are limited to producing primary and secondary packaging solutions for commodities wrapped directly or indirectly. The need for accessories and additional items for chemical packaging increases globally due to technological advancements and new packaging solutions.

For optimal use of chemical packaging solutions, accessories such as various lids, caps & closures, locks and pallets are employed, making it easy to handle for logistical partners and end-user businesses. As the need for these accessories improves as part of a better packaging solution, opportunities will arise.

Increasing prices of raw materials

Over the projected period, rising raw material prices and trade limitations on importing goods may hamper the growth of the consumer chemical packaging market. For example, petroleum and crude oil are the primary raw materials for plastic used to make chemical packaging containers. As a result, any fluctuation in oil prices can pose a significant threat to the industry.

COVID-19 Impact Analysis

Over the past 18 months, almost every sector globally has suffered a setback. The setback can be attributed to severe disruptions in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other restrictions imposed by governments worldwide. The same may be said for the global market for consumer chemical packaging.

Furthermore, consumer demand has decreased as people have become more focused on removing non-essential expenditures from the budget due to the outbre*ak's negative impact on the general economic situation of most people. Over the projected period, the factors are likely to weigh on the global consumer chemical packaging market's revenue trajectory. The global consumer chemical packaging market will likely revive as respective government agencies lift these enforced lockdowns.

Segment Analysis

The global consumer chemical packaging market is segmented into Barrels, IBCs and Flexitanks by product.

Flexitank is expected to be the dominant type during the forecast period (2020-2028)

The flexitank industry is expected to grow the most during the forecast period. Instead of ISO tank containers, these tanks can transport oils, wines, food-grade liquids, and non-hazardous chemicals globally. Liquid transportation and storage have always been costly and difficult. It enables more flexible and cost-effective storage and transportation of liquid and dry bulk goods.

Construction materials, polymers, detergents and powdered non-hazardous chemicals are among the products that have increased demand. For various packaging purposes, it's available as a conductive, antistatic, flame retardant and dissipative bag.

Geographical Analysis

The growing consumption of various consumer goods is likely to boost Asia-Pacific's growth.

The Asia-Pacific held the greatest share of the global consumer packaging market during the projected period, owing to the region's growing population and rising disposable incomes. The rising consumption of various consumer goods in this area is expected to drive the consumer chemical packaging market in the future.

The increasing need for more dependable and advanced packaging products in this region is expected to drive market expansion over the forecast period. Furthermore, the rising consumer living standards and the increasing purchasing power of the middle-class population in developing nations like China and India are driving the consumer chemical packaging industry forward in a favorable direction.

Competitive Landscape

With a significant number of global and regional players, the market for consumer chemical packaging is moderately competitive. These firms control a significant market and expand their client base globally. These firms will focus on R&D, strategic alliances and other organic and inorganic growth strategies to stay relevant in the market over the forecast period. For example, Industrial Container Services, LLC purchased Buckner Barrel Sales Corporation on August 17, 2017, and Twin City Container, Inc.'s Minneapolis/St. Paul-based businesses on December 15, 2015.

Key players operating in the global market for consumer chemical packaging include Grief Inc., C.L. Smith Company, Schutz Container Systems, Inc., DS Smith, Industrial Container Services (ICS), Sonoco Products Company, Alpha Barrels, Inc, Orlando Drum & Container Corporation, TPL Plastech Ltd. and Milford Barrel.

Grief Inc.

Overview: Greif is a global leader in industrial barrels goods and services, intending to be the world's best customer service company in the industry. The company manufactures steel, plastic, IBCs, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes & cores and a wide range of specialty goods. Greif also has wood properties in the Southeast to serve global and regional consumers and maintains key sites in over 40 countries.

Product Portfolio: It manufactures Barrels accessories and provides filling, Barrels and other services for various industries.

Key Development: Greif, Inc., said that the Consumer Barrels Group business had been sold to Graphic Barrels Holding Company for US$85 million in cash, as previously reported. The proceeds from the sale of CPG will be used to pay off debt.

Why Purchase the Report?

Visualize the composition of the consumer chemical packaging segmentation by capacity, product, application and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in consumer chemical packaging by analyzing trends and co-development deals.

Excel data sheet with thousands of consumer chemical packaging data points - level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global consumer chemical packaging report would provide access to an approx. 59 market data table, 54 figures and 180 pages.

Target Audience

Consumer Chemical Packaging Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Consumer Chemical Manufacturers