Hazmat Packaging Market Outlook : Presents Market Insights, Depth Analysis And Forecast By 2024-2031 | Greif Inc., Hoover Ferguson Group, Inc.

The Hazmat Packaging Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hazmat packaging refers to specialized packaging solutions used for transportation of hazardous materials such as chemicals, corrosives, flammable materials, and others. It provides safety and prevents hazards during transportation. Hazmat packaging comes in different types such as drums, intermediate bulk containers, cans, bottles, boxes depending on the type of hazardous material to be transported. The market is witnessing growth due to increasing use of dangerous goods across industries.

Market Dynamics:

The Hazmat Packaging market is primarily driven by increasing transportation of hazardous materials globally. As per statistics, approximately 1.2 billion metric tons of hazardous materials are transported annually around the world. Stringent government regulations regarding safety during hazmat transportation is another key factor augmenting market growth. For instance, International Maritime Dangerous Goods Code by International Maritime Organization mandates use of UN certified packaging for seaborne transportation of dangerous goods. Additionally, growing chemical and petrochemical industry generating bulk shipments of hazardous bulk liquid chemicals is fueling demand for specialized intermediate bulk containers. Also, development of innovative lightweight and high strength hazmat packaging solutions by key players to reduce logistics cost is promoting market expansion over the forecast period.

Request Sample Copy With Global Industry Analysis @ https://www.coherentmarketinsights.com/insight/request-sample/3001

Top Key Players are Covered in this Report:

★ Greif Inc.
★ Hoover Ferguson Group Inc.
★ Mauser Group B.V.
★ Eagle Manufacturing Company
★ Balmer Lawrie & Co. Ltd.
★ Meyer Steel Drum Inc.
★ Hazmatpac Inc.
★ Air Sea Containers Inc.
★ Peninsula Drums
★ Fibrestar Drums Limited.

Market Segmentation:

By Product Type:

★ Drums & Cans
★ Cartons & Boxes
★ Industrial Bulk Containers
★ Flexi tanks
★ Others

By Material:

★ Plastics
★ Metals
★ Corrugated Paper

By Applications:

★ Class 1- Explosives
★ Class 2- Gases
★ Class 3- Flammable liquid & combustible liquid
★ Class 4- Flammable solid, spontaneously combustible, and dangerous when wet
★ Class 5- Oxidizer & organic peroxide
★ Class 6- Poison & poison inhalation hazard
★ Class 7- Radioactive
★ Class 8- Corrosive
★ Class 9- Miscellaneous

By End-Use Industry:

★ Chemicals & Petrochemicals
★ Oil & Gas
★ Automobile
★ Pharmaceutical
★ Agriculture
★ Others

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Purchase This Premium Report And Get Up To 25% Off @ https://www.coherentmarketinsights.com/insight/buy-now/3001

Hazmat Packaging Market Drivers:

1. Strict regulations to transport hazardous materials driving demand for specialized packaging

The transportation of hazardous materials such as chemicals, petroleum products, nuclear waste, and other toxic substances is strictly regulated by government bodies to ensure public safety. Packaging used for hazmat transportation needs to comply with stringent testing standards and certification protocols. They must be able to contain leaks and prevent accidental exposure/releases. This is driving the need for specialized high-performance packaging solutions in the market that provide optimal containment and are approved for hazmat transport. Many companies are investing in R&D to develop innovative packaging designs with advanced material formulations to meet regulatory compliance.

2. Growing e-commerce sector increasing need for safe delivery of hazardous chemicals and gases

Rapid growth of the e-commerce industry has led to a spike in home delivery of various products including hazardous chemicals, gases, automotive supplies, and other industrial materials that were traditionally sold through brick and mortar stores. This has created demand for specialized hazmat packaging designs optimized for the parcel delivery supply chain to safely contain, transport, and distribute such products directly to consumers. Packaging manufacturers are introducing lightweight, breakage-resistant, and tamper-evident solutions for online sellers of hazardous goods to meet the unique performance requirements for personal hazmat shipments.

Hazmat Packaging Market Restrain:

High costs associated with hazmat packaging solutions hindering widespread adoption

Packaging products designed for hazardous materials transportation need to be highly engineered for maximum safety. They incorporate premium grade construction materials, advanced sealing mechanisms, leakage containment liners, specialized labeling and UN certified testing. All these features contribute to significantly higher costs compared to conventional packaging. For many cost-sensitive industries and SME buyers, the expensive price tags of hazmat packaging pose a major barrier especially in price-competitive markets. This restrains broader market penetration and demand is largely limited to large industrial firms with deeper pockets.

Hazmat Packaging Market Opportunity:

Growth in pharmaceutical and medical device industries driving demand for specialized packaging

The pharmaceutical industry has witnessed steady expansion driven by rising global healthcare expenditure, growing chronic disease burden, and advancements in drug delivery. Similarly, the medical device sector is rapidly innovating newer surgical, diagnostic, and imaging equipment. Both sectors involve regular transportation and delivery of potentially hazardous substances like chemicals, radioactive isotopes, and biohazardous materials that need specialized containment compliant with healthcare packaging regulations. This bodes well for hazmat packaging manufacturers introducing cost-effective and value-added products tailored for pharmaceutical and medical supply chains. Increased safety focus would propel packaging upgrades and drive new opportunities.

Hazmat Packaging Market Trend:

Rise of combination packaging integrating multiple containment functions

A key trend gaining momentum in the hazmat packaging landscape is the rise of combination packaging solutions that integrate multiple functionality into a singular design. Traditionally, separate packaging was used for outer packaging, containment, cushioning etc. However, customers now demand design and cost efficiencies. Combination packaging consolidates requirements through innovative formats like bag-in-box, bag-in-drum etc. that provide rim protection, cushioning and containment in one. Adoption of advanced engineering resins is also allowing combinations of rigidity and flexibility. This helps reduce material use, waste generation and overall packaging costs. Going forward, widespread use of combination hazmat packaging stemming from sustainability and efficiency needs will reshape competitive dynamics in the industry.

Request for Customization at: https://www.coherentmarketinsights.com/insight/request-customization/3001

The report answers a number of crucial questions, including:

➥ Which companies dominate the global Hazmat Packaging market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Hazmat Packaging market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Hazmat Packaging Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.