Global Petrochemical Packaging Market – Industry Trends and Forecast to 2030

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Petrochemical Packaging Market Analysis and Size

Packaging petrochemical is a very challenging task for the market players. Improper packaging of petrochemical can have a long-lasting negative effect on the environment and also can cause harm to the warehouse workers or end-user. Plastics have been the major packaging material for the petrochemicals. Even though plastics are very harmful for the environment, but in the case of these petrochemicals packaging, plastics are the safest option during the forecast period.

Data Bridge Market Research analyses that the petrochemical packaging market is expected to reach USD 1,737.10 billion by 2030, which is USD 1,033.97 billion in 2022, registering a CAGR of 6.70% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Petrochemical Packaging Market Scope and Segmentation

Market Definition

Petrochemical packaging is used to transport and store petrochemicals. These packaging’s are mainly used for the transportation of hazardous chemicals such as petrochemical because they are flammable and more combustible. Accessories such as different types of locks, lids, caps, closures and pallets are used for the adequate packaging of petrochemical, consequently making it suitable and easy to handle for logistical partners coupled with end-user industries.

Petrochemical Packaging Market Dynamics

Drivers

• Increasing stringent regulations over the packaging

The government and regulatory authorities have made stringent rules and regulations for the packaging of petrochemicals. For instance, ADR European Agreement communicates the importance of choosing appropriate packaging for the hazardous petrochemicals in Europe. Therefore, increasing stringent regulations over the packaging of petrochemicals is expected to drive the market growth rate during the forecast period.

• Growing demand for storage containers of petrochemicals

Drums are extensively used for storing and shipping harmful, dangerous or hazardous materials such as petrochemicals. Shrink drum liner is one of the important type of drums that is the safest container for petrochemical shipments. Shrink drum liners are more compatible for packaging petrochemicals than other drums such as fibre, plastic, and steel drums. As a result of this, the petrochemical sector holds a major share for in the packaging market for safe petrochemical packaging solutions. Thus, growing demand for drum packaging for petrochemicals is likely to boost the market growth.

Opportunities

• Surging product innovation

The major market players mainly focus on producing new and advanced packaging products for petrochemicals. They have developed some new packaging solutions which fulfil the security worries and give a sustainable impression. Various chemical manufacturers have used drums and buckets to move their petrochemical products. For instance, modern mass compartments and sack in-box consider more products per bundle, decreasing landfill space and transportation costs. Thus, the surging product innovation will create numerous opportunities for the market growth.

Restraints/ Challenges

• Fluctuating prices of raw materials

The companies effectively pass judgment on the risk of packaging petrochemical which emphatically fluctuating the costs of raw materials. Exceptionally low-value executives and fluctuating prices of raw materials enormously imperil an organization's prosperity. Moreover, the cost of the unrefined components utilized in the assembling is high. Thus, all these factors which are associated with the fluctuating prices of raw materials will hamper the market growth rate.

This petrochemical packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth  application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the petrochemical packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Petrochemical Packaging Market Scope

The petrochemical packaging market is segmented on the basis of material, product, type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Plastic
• Metal
• Wood
• Other Materials

 Product

• Industrial Bulk Containers
• Drums
• Pails
• Boxes
• Other Products

Type

• Ethylene
• Propylene
• Butadiene
• Benzene
• Xylene
• Toluene
• Polystyrene
• Methanol

 Application

• Polymer
• Paints and Coatings
• Solvent
• Rubber
• Adhesives and Sealants
• Surfactants
• Dyes
• Others

Petrochemical Packaging Market Regional Analysis/Insights

The petrochemical packaging market is analyzed and market size insights and trends are provided by country, material, product, type and application as referenced above.

The countries covered in the petrochemical packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the petrochemical packaging market in terms of market share and revenue owing to the growing transportation of petrochemicals and dangerous synthetics in this region.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the substantial entrance of market players in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Petrochemical Packaging Market Share Analysis

The petrochemical packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to petrochemical packaging market.

Some of the major players operating in the petrochemical packaging market are:

• Amcor Plc (Switzerland)
• LC Packaging (Ireland)
• ILC Dover LP (U.S.)
• Brambles Ltd (Australia)
• Arena Products Inc, (U.S.)
• Qingdao LAF Packaging Co., Ltd. (China)
• CDF Corporation (U.S.)
• Nittel (Germany)
• Qbig Packaging (Netherlands)
• Zasfa Composite Containers Pvt Ltd (India)
• Peak Liquid Packaging (U.S.)
• TPS Rental Systems Ltd IBC Containers (U.K.)
• HOYER GmbH (Germany)
• CHEP (Australia)
• Berry Global Inc. (U.S.)
• Bulk Lift International, LLC (U.S.)
• Conitex Sonoco (U.S.)
• Greif (U.S.)
• Mondi (U.K.)
• BWAY Corporation (U.S.)

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