Published on : Nov 28, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Industrial Bulk Chemical Packaging Market Professional Survey Report 2019”. The study on the global industrial bulk chemical packaging market takes a closer look at the key demand dynamics, major trends, and new avenues. The report offers insights on assessing the potential in key markets of Europe, North America, Japan, Southeast Asia, with key focus on India and China.
The industrial bulk chemical packaging market is rising on the back of the strides made in the pharmaceutical industry. The industry is witnessing widespread demands for various types of bulk chemical packaging, notably drums, flexitanks, and intermediate bulk containers. Growing popularity of bio-based plastic-based packaging has imparted a big impetus to the expansion of the industrial bulk chemical packaging market. Industries benefitting from this trend are petrochemicals and chemicals, and food and beverages. Companies in the industrial bulk chemical packaging increasingly are seeking bio-degradable raw materials that can be sourced easily.
Growth in cross-border trade notably in Asia Pacific has reinforced the prospects of the market. Governments in these regions are adopting policies and framing regulations to aid in the proliferation of trade pertaining to various products in the food and beverages and pharmaceutical industry. The growth momentum is supported by advances in logistics infrastructure of developing economies.
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Extensive demand for drums for the packaging of liquid industrial products is a key factor shaping the growth trajectory of the industrial bulk chemical packaging market. The demand is sizable especially in the pharmaceutical and chemicals industry in various parts of the world. Rising shale gas explorations in the U.S. has spurred the demand for bulk chemical packaging products. Incorporation of RFID tracking technology in IBCs is also a crucial trend in the expansion of the industrial bulk chemical packaging market.
The demand in the pharmaceutical industry is buoyant for another reason: demand for packaging that meets the high hygiene conditions. This is driving customized packaging solutions for the industry to meet the packaging requirements of the specialty industry.
Substantial advancements in the pail manufacturing technology have filliped the expansion of the market. Over the past few years, the demand for drums has risen in popularity owing to their role in marketing of products. Drums will likely to maintain its sheen for a few years down the line.
Over the past few years, there has been marked trend for industrial bulk chemical packaging products that are tailored to the specific needs of end-use industries. However, the steady growth of the market has been hampered by lack of appropriate supply chain between packaging manufacturers and end-use industries. Further, in various key markets, fluctuating raw material prices are a significant challenge for players in the industrial bulk chemical packaging market. On the other hand, small- and medium-sized industries have proliferated in recent years in emerging economies, especially in Asia. In particular, this has been a key trend in the pharmaceutical industry.
In recent years, manufacturers are focusing on developing industrial bulk packaging that are durable, light-weight, and reliable across a wide range of applications. Other key aspects include reusability and cost-effectiveness. This has stoked the popularity of cost-competitive products in the industrial bulk chemical packaging market. Top players are also aiming at reap lucrativeness by offering custom products.
Some of the prominent players vying for prominent stakes in the industrial bulk chemical packaging market are Great Western Containers, Orlando Drum & Container Corp, TPL Plastech, Sealed Air, Sonoco Products, Mauser Group, Schutz Container Systems, Berry Global, International Paper, DS Smith, and CL Smith.