DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Global Chemical Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Chemical Packaging Market is expected to grow at a CAGR of 3.23% during the forecast period of 2021-2026.
The production of specialty chemicals took a significant hit as the global production declined by 11.2%, and especially for specialty chemicals such as coatings, the production fell by 25.2% between January 2020 to August 2020, which negatively affected the usage of packaging in the specialty chemicals segment.
Several new packages satisfy the safety concerns, in addition to providing a greener footprint. Traditionally, many chemical manufacturers have significantly used pails and drums in transporting their products. While these products have several benefits over competitive materials, new products are satisfying a significant gap in the market sustainability.
For instance, bag-in-box and industrial bulk containers allow for more product-per-package, and they are collapsible, reducing landfill space and reducing transportation costs.
However, the changing regulatory standards, fluctuations in raw material costs and growing waste levels and increasing environment wastage regulations are expected to hamper market growth for some of the Chemical Packaging products.
Key Market Trends
Bags and Sacks to Witness Significant Growth rate
Paper and biodegradable sacks are being preferred over plastic sacks or bags, due to the increasing concern over plastic packaging waste generated across the globe. This has led to governments adapting to alternative sources such as biodegradable packaging. The United States accounts for only 4% of the world's population and generates 2% of global Municipality Solid Waste (MSW). It is also stated that the United States produces about 106.2 kg of plastic waste per person per year.
The rapid shift towards sustainable packaging solutions is further stimulating the sack providers to innovate and provide recyclable or sustainable sacks for industrial purposes. For instance, ExxonMobil offers a range of performance PE polymers, including Exceed XP, and ExxonMobil HDPE, amongst other products to create several opportunities to create differentiated, sustainable heavy-duty sack solutions.
Further, today, Poland can be called the prominent country of the chemical industry in the region of Central and Eastern Europe. According to the Central Statistical Office, the chemical sector in Poland employs around 300,000 people, which accounts for 11% of employment in the total industry within Poland. The biggest breakthrough in the development of the chemical industry in Poland, which awaits the country in the coming years, will be the development of refining, petrochemical and plastics processing industries. Such trend would lead to more demand of bag and sacks in coming time.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Assessment of the impact of COVID-19 on the Chemical Packaging Market
4.2.1 Effect of decline in industrial & manufacturing activity
4.2.2 Supply-side challenges in catering to high-growth markets
4.2.3 Changes in trade activity in a few regions
4.2.4 Macro-economical factors pertinent to regional markets, among others
4.3 Market Drivers
4.3.1 Growing demand for Fixed IBC's in industrial establishments to drive demand
4.3.2 Recovery in industrial & manufacturing activity augurs well for the market growth
4.3.3 Material advancements have led to lighter weight alternatives and use of sustainable products
4.4 Market Challenges
4.4.1 Price variance due to dependence on raw material prices
4.5 Industry Supply Chain Analysis
4.6 Porters Five Force Analysis
4.7 Market Opportunities
4.8 Coverage on the current scenario and growth trajectory of the Chemicals Sector in the major markets
4.9 Key Innovations & Advancements in the Chemical Packaging Domain
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Bags & Sacks
5.1.2 Intermediate Bulk Containers (FIBC's)
5.1.3 Pails & Drums
5.1.4 Flexible IBCs And Related Flexible Packaging Products
5.1.5 Other Product Types
5.2 By Application
5.2.1 Commodity Chemicals
5.2.2 Specialty Chemicals
5.2.4 Other Applications (Advanced Chemicals, etc.)
5.3 By Geography
6 COMPETITIVE LANDSCAPE
6.1 Key Vendor Profiles
6.1.1 Grief Inc.
6.1.2 Mauser Packaging Solutions
6.1.3 Mondi Group
6.1.4 Ampac Holdings
6.1.5 Environmental Packaging Technologies
6.1.6 Hoover Ferguson Group
6.1.7 ALPLA-Werke Alwin Lehner GmbH & Co KG
6.1.8 SolvChem Custom Packaging
6.1.9 Bulk-Pack Group
6.1.10 LC Packaging Group
6.1.11 Brainerd Chemicals Group
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/e8rl9z
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005558/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900