Bulk chemicals, also called commodity chemicals, have witnessed a surge in demand over the recent years, given their wide application in a host of different industries such as healthcare, food processing, construction, and automotive. The thriving manufacturing industries around the world are generating a humongous need for the Bulk Chemical Packaging activities across the globe. It has been observed, over the past few years, that there has arisen a strong correlation between industrial output and the need for bulk chemical packaging in industries. Notably, the stable production output of chemicals has prompted the demand for bulk chemical packaging activities in the recent years.
The key factors affecting the Bulk Chemical Packaging Market:
The surge in the usage of high value chemical containers will propel the expansion of bulk chemical packaging industry over the forecast timeline. Furthermore, the rapid increase in trading activities pertaining to bulk chemical products across the globe will cause the market for bulk chemical packaging to likely gain traction over the forthcoming years. In addition to this, the massive demand for bulk chemical packaging in healthcare, automotive, food processing, and construction activities will steer the growth of bulk chemical packaging industry over the forthcoming years.
Moreover, the large-scale usage of bulk chemical packaging in the chemical & petrochemical industries, will proliferate the expansion of bulk chemical packaging industry over the forecast time period. To add to that, the rise in the intercontinental trade business of chemicals, is anticipated to boost the growth of the bulk chemical packaging industry over the forecast timeline. Apart from this, the widespread acceptance of intermediate bulk containers, drums, and Flexi tanks across the globe, will carve a lucrative growth map for bulk chemical packaging industry over the forecast time span. Note that, the fluctuating raw material prices have also led to an increase in the prices of bulk containers.
The global bulk chemical packaging market is currently experiencing growth due to an increase in demand from end-use applications such as consumer chemicals, specialty chemicals, basic inorganic chemicals, and polymers & petrochemicals, a factor that is expected to continue influencing the upward movement of the Bulk Chemical Packaging Market. It is important also to note that, the increase in the application of larger, higher-value containers is expected to fuel the growth of the global Bulk Chemical Packaging manufacturers. The adoption of Bulk Chemical Packaging solutions among the chemical industry users has resulted in a spur in demand. Despite all of the positive factors as stated above, there are certain factors which hinder the growth of the global Bulk Chemical Packaging market. 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 that can be derived from the Bulk Chemical Packaging is limited.
The region segment that leads in the Bulk Chemical Packaging Market:
The Asia Pacific bulk chemical packaging market leads the Bulk Chemical Packaging Market, and is expected to remain in the leading position throughout the forecast period. The Intermediate bulk containers (IBC) and drums are expected to experience the fastest growth in the forthcoming time, given its advantages of cost effectiveness and reusability. The global bulk chemical packaging market is also reflecting product customisation trends to suit the end-user requirements. Increased storage capacity, longer service life that allows large scale industrial customers to gauge the substantial long-term cost benefits, are some key considerations companies are making. Apart from dimensions, companies in the bulk chemical packaging market are also offering light weight and cost-competitive products compared to the more conventional steel drums. In addition to this, material enhancements to make bulk chemical packaging products corrosion and impact resistant are also being deployed.
The Bulk Chemical Packaging Market is segmented as follows:
By Product Type
Flexi tanks & Others
By Capacity Type
Above 500 liters
By End-use Packaging Applications
Basic Inorganic Chemicals
Rest of Europe
Rest of APAC
Rest of South America
Middle East & Africa
Rest of MEA
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