Global Inorganic Chemical Packaging Market - 2021-2028

Global Inorganic Chemical Packaging Market - 2021-2028

Market Overview

The global inorganic 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).

Inorganic chemical packaging is a challenging task. When packaging certain chemicals, the number of options is often quite a few. If done improperly, the industrial inorganic chemical can have a long-lasting negative impact on the environment, can cause harm to the end-user or the warehouse workers or can just be rendered ineffective.

Plastics have been the primary packaging material. Even though plastics harm the environment, in the case of chemical packaging, plastics are the safest. Plastic packagings prevent spillage, is low cost and can be recycled and reused. However, since plastic usage is regulated, alternative chemical packaging solutions are also explored.

Market Dynamics

Governments and regulatory bodies ' strict regulations over chemical packaging are expected to drive the inorganic chemical packaging market. However, fluctuating prices due to dependence on raw materials and high manufacturing costs will likely hinder the market.

Stringent regulations over chemical packaging by governments and regulatory bodies

In inorganic chemical packaging, the packaging is a significant part of chemical handling and security. Without legitimate packaging of chemicals, the danger of episodes and genuine risk to individuals' security and material assurance turns out to be high, remembering item and resource harms and fatalities such as in the cases of fire explosions.

Besides, the government and regulatory bodies have made stringent regulations over the packaging of these chemicals. For instance, Europe has strict guidelines for synthetic packaging. Arrangements on hazardous packaging by ADR European Agreement concerning the Global Carriage of Dangerous Goods communicates the significance of choosing the appropriate packaging. As a result, this drives the necessity for powerful packaging arrangements in the chemical area of the region.

Moreover, a few newly developed packaging fulfill the security worries and give a greener impression. Generally, several chemical manufacturers have fundamentally utilized buckets and drums in moving their items. While these items have a few advantages over cutthroat materials, new items are fulfilling a huge hole in the market supportability. For instance, sack in-box and modern mass compartments consider more items per bundle and they are folding, decreasing landfill space and transportation costs.

Fluctuating prices due to dependence on raw materials and high manufacturing costs are likely to hinder the market

Companies struggle effectively pass judgment on the danger of emphatically fluctuating raw materials costs. An edge crush is unavoidable if they pass on expanding costs negligibly, postponed or too moderately. Exceptionally fluctuating raw materials costs and low value can enormously imperil an organization's prosperity.

Besides, the expense of the raw materials utilized in the assembling is at record-breaking highs. Arranged support and expanded raw materials products have also prompted distinctive characteristics in the global inorganic chemical packaging market.

COVID-19 Impact Analysis

As per the American Chemistry Council, essential synthetic substances, including natural synthetics, inorganics synthetic substances, plastic tars, engineered elastic and fabricated filaments, seen a global creation increment of 1.4% between January 2020 and August 2020. Besides, the creation of strength chemicals endured a huge shot as the global creation declined by 11.2%. Particularly for specialty chemicals, like coatings, the creation fell by 25.2% between January 2020 to August 2020, contrarily influencing the utilization of packaging.

Segment Analysis

The inorganic chemical packaging market is segmented into bags and sacks, intermediate bulk containers (FIBC's), pails and drums, flexitanks, and others based on product.

Bags and sacks are liked over plastic sacks or packs because of the expanding worry over plastic packaging waste produced globally, which has prompted state-run administrations to adjust to elective sources like biodegradable packaging. U.S. represents just 4% of the total populace and produces 2% of globally Municipality Solid Waste (MSW). Likewise, U.S. produces around 106.2 kg of plastic waste per individual each year.

The fast shift toward biodegradable packaging arrangements further animates the sack suppliers to advance and give recyclable or economical sacks to modern purposes. For instance, ExxonMobil offers a scope of execution P.E. polymers, including Exceed XP and ExxonMobil HDPE, among different items, to set out a few open doors for separated, practical and rock-solid sack arrangements.

Besides, Poland is the powerful nation of synthetic business in Central and Eastern Europe. As indicated by the Central Statistical Office, the synthetic area in Poland utilizes around 300,000 individuals, which represents 11% of work in the whole business inside Poland. The main forward leap in improving the synthetic business in Poland, which anticipates the country in the coming years, is perhaps the advancement of refining, petrochemical and plastics handling enterprises.

Geographical Analysis

The inorganic chemical packaging market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa based on geography.

The interest in steel drums and IBCs in China is driven by expanding spending on exchange exercises and developing an interest in chemical packaging. For example, China's compound industry has been the biggest globally, given income age starting around 2011. The business has added to half of the development of the world compound market for the beyond twenty years and has played a significant catalyst for China's high financial development.

The developing occurrences of capacity and transportation of dangerous synthetics are also expected to cultivate IBC and steel drums as they are seen as protected pressing answers for such items. Further, inferable from the wellbeing hazards presented by synthetic compounds upon spillage and drain followed by the interest for an answer that forestalls openness to the extreme climate keep on rising, drives the development of the market in the area.

Additionally, with the scene of the substance business evolving globally, China is relied upon to drive its synthetic industry to the following phase of advancement by leading the pack by utilizing innovation development and exchange and winning in the global market.

Competitive Landscape

The inorganic chemical packaging market is highly competitive with several end-use industries, resulting in high investment by multinational and local companies, contributing to the major share in the market growth. In addition, major players contributing to the market's growth are Greif Inc., Mauser Packaging Solutions, Mondi Group, Ampac Holdings, Environmental Packaging Technologies, CL Smith, SCHÜTZ GmbH & Co. KGaA., BWAY Corporation, Industrial Container Services, Berry Global Inc. and others. In addition, the companies are adopting growth strategies such as expansions, acquisitions, product launches and collaborations, contributing to the market growth globally.

Greif Inc.

Overview: Greif, Inc. is an American manufacturing company. The company was originally a manufacturer of barrels, is now focused on producing industrial packaging and containers. It is headquartered in Delaware, Ohio, U.S.

Product Portfolio: Greif, Inc. offers different models of plastic drums, cardboard drums and IFBs to fit most consumers' needs depending on chemical compatibility.

Key Development:
• In May 2020, Greif Inc. developed GCube Connect IBCs, which are used to store and transport liquids and free-flowing materials, collaborating with Sigfox 0G network connectivity.

Why Purchase the Report?
• Visualize the composition of the inorganic chemical packaging market segmentation by chemical, product, capacity, application, end-user and region, highlighting the key commercial assets and players.
• Identify commercial opportunities in the inorganic chemical packaging market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of inorganic chemical packaging market - 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 inorganic chemical packaging market report would provide an access to an approx. 77 market data table, 83 figures and 180 pages.

Target Audience
• Manufacturers of Inorganic Chemical
• Food & Supplements Manufacturers
• Traders, Distributors and Suppliers of Inorganic Chemical Packaging
• Pharmaceutical Companies
• Packaging Manufacturers
• Investment Research Firms