Huge flames were seen shooting into the night sky at the Enterprise Business Park in Leyland, Lancashire, which is home to a number of businesses and warehouses.
Between 130 and 150 firefighters were called to the blaze, manning eight fire engines, two aerial ladders and a high-volume water pump.
The Lancashire Fire and Rescue Service said up to five buildings had been destroyed.
The force's area manager, Keith Marsh, told Sky News: "The long term effects of this, in terms of pollution, have as far as we possibly can, been kept under control."
It is thought a 80,000m sq building that houses tissue paper initially caught fire and flames spread rapidly to a neighbouring building, storing chemicals.
Local reports also suggested explosions could be heard coming from the blaze. Twenty homes were evacuated but a technical support team deemed the chemicals not to be harmful.
Trains between Preston and Wigan North West and Bolton have been hit by delays of up to two hours because of the fire, according to National Rail. Read More
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