Hazmat Packaging
Hazmat Packaging Market Forecasts to 2030 - Global Analysis By Product Type (Drums and Pails, Intermediate Bulk Containers (IBCs), Cartons, Boxes, Canes, Flexi Tanks, Bottles and Other Product Types), Material Type (Plastics, Metal, Fiber, Corrugated Paper and Other Material Types), Class, End User and by Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $14.04 BN |
|
Projected Year Value (2030) |
US $35.09 BN |
|
CAGR (2023 - 2030) |
13.98% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Hazmat Packaging Market is accounted for $14.04 billion in 2023 and is expected to reach $35.09 billion by 2030 growing at a CAGR of 13.98% during the forecast period. Hazardous materials packaging, or ""hazmat"" packaging, is essential to guaranteeing the secure containment and transportation of hazardous materials. These materials cover a broad spectrum of substances that may be hazardous to the environment and public health, such as chemicals, biological agents, and flammable liquids.
According to the International Air Transport Association (IATA), the proper labelling and documentation of hazardous materials are crucial elements in ensuring the safe and secure transportation of goods by air.
Market Dynamics:
Driver:
Growing attention to sustainability
The growing emphasis on sustainability across the globe presents an opportunity for the hazmat packaging industry. The market for environmentally friendly packaging options with low environmental impact is growing. Additionally, by funding the creation of environmentally friendly packaging materials, supporting recycling programs, and implementing eco-friendly procedures throughout the production and distribution processes, manufacturers can profit from this trend.
Restraint:
Inadequate standardization of packaging specifications
One major limitation is the lack of globally standardized packaging regulations for hazardous materials. Different countries and regions have different regulations, which makes it difficult to design and produce hazmat packaging that complies with all applicable requirements. Furthermore, manufacturers must modify their packaging solutions for various markets due to this lack of harmonization, which raises complexity and costs.
Opportunity:
Developments in eco-friendly packaging
An enormous opportunity exists for the hazmat packaging industry due to the growing emphasis on sustainability on a global scale. Sustainable packaging innovations can both solve environmental issues and meet the growing demand for environmentally friendly products and practices. Moreover, in order to produce packaging materials that not only adheres to safety standards but also support a more sustainable and circular economy, manufacturers can allocate resources to research and development.
Threat:
Increasing raw material costs
Hazmat packing supplies frequently contain specialty parts, the cost of which can fluctuate. For producers of packaging, growing prices for raw materials like metals and polymers can have a big effect on production costs. Additionally, material price fluctuations can put pressure on profit margins and present difficulties for businesses, especially those in highly competitive industries where price sensitivity is paramount.
Covid-19 Impact:
The COVID-19 pandemic has brought about a range of opportunities and challenges for the hazmat packaging market. On the one hand, hazmat packaging manufacturers have faced operational challenges due to disruptions in global supply chains, labor shortages, and increased health and safety concerns. Furthermore, demand in particular markets has been driven by an increased focus on safety precautions, including the requirement for safe and legal packaging for pharmaceuticals and medical supplies. Nevertheless, as industries changed their production levels and dealt with economic uncertainty, the market as a whole saw swings.
The Intermediate Bulk Containers (IBCs) segment is expected to be the largest during the forecast period
Intermediate Bulk Containers (IBCs) are projected to hold the largest share. IBCs are strong, adaptable containers made for bulk liquids and powders, including hazardous materials that need to be stored and transported. Their ease of handling, strict adherence to safety regulations, and effectiveness in maximizing available space are the main reasons for their popularity. Moreover, when compared to drums and pails, IBCs usually have a larger capacity, which makes them ideal for industries that need to transport hazardous materials in bulk.
The Pharmaceuticals segment is expected to have the highest CAGR during the forecast period
Due to strict regulations and the urgent need for safe transportation of hazardous and sensitive materials, the pharmaceutical industry is predicted to have the highest CAGR in the hazmat packaging market. Pharmaceutical products require specific packaging solutions in order to comply with safety standards and regulations, as they are frequently classified as hazardous materials. However, due to the industry's ongoing emphasis on R&D and production, there is a growing need for hazmat packaging, which ensures the integrity of medications while in transit.
Region with largest share:
It is anticipated that North America will hold the largest share of the market for hazardous packaging. The strict legal frameworks that control the transportation of hazardous materials, mainly in the US and Canada, are to blame for this dominance. The region's strong industrial infrastructure and growing environmental and safety consciousness fuel the need for specialized hazmat packaging solutions. Furthermore, the North American oil and gas, chemical, and pharmaceutical industries all play a major role in the market's expansion.
Region with highest CAGR:
The Asia-Pacific region has shown the highest CAGR. The region's dynamic industrial landscape, quick economic growth, and rise in hazardous material transportation related to manufacturing, chemicals, and pharmaceuticals are the main drivers of this growth. Moreover, the demand for hazmat packaging solutions is rising as a result of growing investments in manufacturing, infrastructure, and logistics in nations like China and India.
Key players in the market
Some of the key players in Hazmat Packaging market include Mauser Group B.V., Great Western Containers Inc, Eagle Manufacturing Company, Greif, Inc., Fibrestar Drums Limited, Balmer Lawrie & Co. Ltd., Meyer Steel Drum, Inc., Thielmann US LLC, Peninsula Drums, Clouds Drums Dubai LLC, Hoover Ferguson Group Inc., Schtz GmbH & Co. KGaA, Myers Container, Sicagen India Ltd and Milford Barrel Company.
Key Developments:
In December 2023, Eagle Materials Inc. announced that they have entered into exclusive agreements with Terra CO2, a producer of a scalable low-carbon supplementary cementitious material (SCM) for the potential deployment of multiple eco-friendly, low-carbon cementitious commercial-scale plants that would service three different geographic areas, including the Greater Denver market.
In October 2023, Greif, Inc., a global leader in industrial packaging products and services, announced today that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million.
In April 2023, Balmer Lawrie & Co. Ltd has signed a Memorandum of Understanding (MoU) with Central Warehousing Corporation (CWC) for utilising storage and warehousing space of CWC for providing cold chain logistics, general warehousing and other ancillary services. This would be valid for a period of ten years from the date of signing MoU.
Product Types Covered:
• Drums and Pails
• Intermediate Bulk Containers (IBCs)
• Cartons
• Boxes
• Canes
• Flexi Tanks
• Bottles
• Other Product Types
Material Types Covered:
• Plastics
• Metal
• Fiber
• Corrugated Paper
• Other Material Types
Classes Covered:
• Explosives
• Flammable and Combustible Liquids
• Flammable Solids
• Oxidizing Substances and Organic Peroxides
• Toxic Substances and Infectious Substances
• Radioactive Materials
• Corrosives
• Miscellaneous Hazardous Materials
• Other Classes
End Users Covered:
• Chemicals and Petrochemicals
• Pharmaceuticals
• Oil and Gas
• Paints and Dyes
• Freight and Logistics
• Automotive
• Lubricants
• Agriculture and Horticulture
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hazmat Packaging Market, By Product Type
5.1 Introduction
5.2 Drums and Pails
5.3 Intermediate Bulk Containers (IBCs)
5.4 Cartons
5.5 Boxes
5.6 Canes
5.7 Flexi Tanks
5.8 Bottles
5.9 Other Product Types
6 Global Hazmat Packaging Market, By Material Type
6.1 Introduction
6.2 Plastics
6.3 Metal
6.4 Fiber
6.5 Corrugated Paper
6.6 Other Material Types
7 Global Hazmat Packaging Market, By Class
7.1 Introduction
7.2 Explosives
7.3 Flammable and Combustible Liquids
7.4 Flammable Solids
7.5 Oxidizing Substances and Organic Peroxides
7.6 Toxic Substances and Infectious Substances
7.7 Radioactive Materials
7.8 Corrosives
7.9 Miscellaneous Hazardous Materials
7.10 Other Classes
8 Global Hazmat Packaging Market, By End User
8.1 Introduction
8.2 Chemicals and Petrochemicals
8.3 Pharmaceuticals
8.4 Oil and Gas
8.5 Paints and Dyes
8.6 Freight and Logistics
8.7 Automotive
8.8 Lubricants
8.9 Agriculture and Horticulture
8.10 Other End Users
9 Global Hazmat Packaging Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Mauser Group B.V.
11.2 Great Western Containers Inc
11.3 Eagle Manufacturing Company
11.4 Greif, Inc.
11.5 Fibrestar Drums Limited
11.6 Balmer Lawrie & Co. Ltd.
11.7 Meyer Steel Drum, Inc.
11.8 Thielmann US LLC
11.9 Peninsula Drums
11.10 Clouds Drums Dubai LLC
11.11 Hoover Ferguson Group Inc.
11.12 Schtz GmbH & Co. KGaA
11.13 Myers Container
11.14 Sicagen India Ltd
11.15 Milford Barrel Company
List of Tables
1 Global Hazmat Packaging Market Outlook, By Region (2021-2030) ($MN)
2 Global Hazmat Packaging Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Hazmat Packaging Market Outlook, By Drums and Pails (2021-2030) ($MN)
4 Global Hazmat Packaging Market Outlook, By Intermediate Bulk Containers (IBCs) (2021-2030) ($MN)
5 Global Hazmat Packaging Market Outlook, By Cartons (2021-2030) ($MN)
6 Global Hazmat Packaging Market Outlook, By Boxes (2021-2030) ($MN)
7 Global Hazmat Packaging Market Outlook, By Canes (2021-2030) ($MN)
8 Global Hazmat Packaging Market Outlook, By Flexi Tanks (2021-2030) ($MN)
9 Global Hazmat Packaging Market Outlook, By Bottles (2021-2030) ($MN)
10 Global Hazmat Packaging Market Outlook, By Other Product Types (2021-2030) ($MN)
11 Global Hazmat Packaging Market Outlook, By Material Type (2021-2030) ($MN)
12 Global Hazmat Packaging Market Outlook, By Plastics (2021-2030) ($MN)
13 Global Hazmat Packaging Market Outlook, By Metal (2021-2030) ($MN)
14 Global Hazmat Packaging Market Outlook, By Fiber (2021-2030) ($MN)
15 Global Hazmat Packaging Market Outlook, By Corrugated Paper (2021-2030) ($MN)
16 Global Hazmat Packaging Market Outlook, By Other Material Types (2021-2030) ($MN)
17 Global Hazmat Packaging Market Outlook, By Class (2021-2030) ($MN)
18 Global Hazmat Packaging Market Outlook, By Explosives (2021-2030) ($MN)
19 Global Hazmat Packaging Market Outlook, By Flammable and Combustible Liquids (2021-2030) ($MN)
20 Global Hazmat Packaging Market Outlook, By Flammable Solids (2021-2030) ($MN)
21 Global Hazmat Packaging Market Outlook, By Oxidizing Substances and Organic Peroxides (2021-2030) ($MN)
22 Global Hazmat Packaging Market Outlook, By Toxic Substances and Infectious Substances (2021-2030) ($MN)
23 Global Hazmat Packaging Market Outlook, By Radioactive Materials (2021-2030) ($MN)
24 Global Hazmat Packaging Market Outlook, By Corrosives (2021-2030) ($MN)
25 Global Hazmat Packaging Market Outlook, By Miscellaneous Hazardous Materials (2021-2030) ($MN)
26 Global Hazmat Packaging Market Outlook, By Other Classes (2021-2030) ($MN)
27 Global Hazmat Packaging Market Outlook, By End User (2021-2030) ($MN)
28 Global Hazmat Packaging Market Outlook, By Chemicals and Petrochemicals (2021-2030) ($MN)
29 Global Hazmat Packaging Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
30 Global Hazmat Packaging Market Outlook, By Oil and Gas (2021-2030) ($MN)
31 Global Hazmat Packaging Market Outlook, By Paints and Dyes (2021-2030) ($MN)
32 Global Hazmat Packaging Market Outlook, By Freight and Logistics (2021-2030) ($MN)
33 Global Hazmat Packaging Market Outlook, By Automotive (2021-2030) ($MN)
34 Global Hazmat Packaging Market Outlook, By Lubricants (2021-2030) ($MN)
35 Global Hazmat Packaging Market Outlook, By Agriculture and Horticulture (2021-2030) ($MN)
36 Global Hazmat Packaging Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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