Packaging materials are likewise manufactured from chemical components for example Low-Density Polyethylene (LDPE) used for food packaging containers and Polycarbonate (PC) also used mostly in recyclable bottles.
Notably, packaging in the chemical industry however takes on different forms than we are used to. In this industry, packaging is fabricated for extensive industrial usage such as in the transportation, storage of hazardous chemicals and food grade liquids like drinks and edible oil. This sector, commonly known as bulk container packaging market, is expected to reach a value of $ 6.5 billion by 2025 growing at CAGR of 9.87%, according to a study by Mordor Intelligence. In 2019, the industry recorded a value of $3.65billion. Acumen Research and Consulting also attributes growth in the bulk container packaging industry to the ever-changing consumer preferences, technological developments, growth in emerging markets, amongst others. They project a 10.5% increase in profits within the Asian Pacific market by 2026.