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As per forecasters at Zion Market Research, the global bulk chemical packaging market was capitalized at US$ 10,895.73 million during 2019 and is estimated to grow at a CAGR of 7.1% during the forecast period. The global market is expected to mainly induce by increasing demand from the chemical and food & beverage industry. The rising flexitank demand in bulk food ingredients and non-hazardous chemical transportation is the key factor likely to prompt the general industry size in the estimated timeframe. The flexitank presents a value-added advantage in other equivalents like barrels or drums, ISO containers and IBC (intermediate bulk containers).Some of the key players in the market are Gaoqing Anthente Container Package Company Limited, BLT Flexitank Industrial Co. Ltd., Braid Logistics, KriCon, Büscherhoff Spezialverpackung GmbH & Co. KG, Ven Pack, Environmental Packaging Technologies, Inc., Qingdao LAF Packaging Co. Ltd., MY Flexitank (MYF), Trust Flexitanks, SIA Flexitanks, RDA Bulk Packaging, CorrPak Bulk Packaging, and LC Packaging.
Increasing Use Of Containers To Boost The Global Bulk Chemical Packaging Market
The surge in the application of larger and higher-value containers is likely to stimulate the growth of the worldwide bulk chemical packaging producers. The business of industrial bulk chemical products globally has elevated three-fold in the last two decades. The implementation of bulk chemical packaging solutions amongst the chemical industry consumers has resulted in a surge in demand. In spite of the affirmative factors, there are some aspects that impact the growth of the global bulk chemical packaging market. The altering raw material prices have resulted in an increase in the costs of bulk containers. The rising oil, beverages like fruit juices and wine & beer demand across BRIC countries will considerably prompt the growth in the industry in the forecasted period. For example, the total export products from China were approximately USD 1.5 trillion during 2007 and attained USD 2.5 trillion in 2014. This rising will consequently produce development avenues for the industry contenders by 2025.
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The global bulk chemical packaging market is segmented by capacity type, product type, and end-use packaging applications. On the basis of the product type, the market is divided into IBC’s, drums, flexitanks, and others. On the basis of the capacity type, the market is divided into 250–500 liters, 100–250 liters, and above 500 liters. On the basis of the end-use packaging applications, the market is divided into consumer chemicals, basic inorganic chemicals, specialty chemicals, petrochemicals, and polymers.
Asia Pacific Region Is The Biggest Market In The Global Bulk Chemical Packaging Market
Based on the geographical study, the global bulk chemical packaging market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The Asia Pacific region emerged as the biggest market for industrial bulk packaging during 2018 with a major share of 33.2%. China, Japan, and India are amongst the main markets across this region. The mounting industrial expenditure has been the chief factor propelling the growth of the national market. The region also promotes the entry of small-sized and medium-sized industries due to different factors like the availability of labor and cheap land.
The global bulk chemical packaging market is segmented as follows:
By product type, the global Bulk Chemical Packaging market is segmented into:
Drums
IBC’s
Flexitanks & Others
By capacity type:
100–250 liters
250–500 liters
Above 500 liters
By end-use packaging applications:
Consumer Chemicals
Polymers
Petrochemicals
Specialty Chemicals
Basic Inorganic Chemicals
By region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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