Chemical Research Report Industrial Packaging Market | Page 3

REPORT DESCRIPTION
However, fluctuating prices of the raw materials used for the manufacturing of industrial packaging products,
lack of marketing, branding, and distribution channels, lack of 100% commitments to the quality standards,
and unavailability of skilled manpower are some of the major factors restraining the market growth.
Asia Pacific holds the largest market share in global industrial packaging market. It is projected to exhibit the
fastest CAGR of 7.4% during the forecast period. The emerging economies in Asia Pacific such as India,
China, South Korea, Vietnam, Malaysia, and Thailand are expected to propel the growth of industrial
packaging market in the near future. Furthermore, industries such as petrochemicals, automotive, agriculture,
oil and gas, food and beverages, chemicals, and metal fabrication have a high requirement for transportation,
safe handling, and storage. These factors augments the market growth in Asia Pacific.
Among materials, plastics segment held the dominant position in 2016, with 45.0% market share. Availability
of numerous grades of plastic, easy handling due to light weight, and due to its chemical inert property, are
some of the major factors driving the demand for this segment.. Paper and paperboard accounted as the second
largest segment in 2016, with 29.12% market share. This is mainly owing to its eco-friendly and biodegradable
materials, which are used by many end-use industries.
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