Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Hazmat Packaging Market By Product Type, By Material Type, By End-User Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global hazmat packaging market size was valued at $10,187.7 million in 2021, and is projected to reach $17,237.9 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.
Key Market Players
- Greif, Inc.
- Schtz GmbH & Co. KGaA
- Mauser Group
- Peninsula Drums
- Balmer Lawrie & Co. Ltd.
- Great Western Containers Inc.
- Fibrestar Drums Limited
- THIELMANN US LLC
- Sicagen India Limited
- Myers Container
Hazmat packaging, also referred to as hazardous material packaging, emerged as an effective solution in the protective packaging segment. Hazmat packaging is meant for the storage of hazardous substances and material which needs to be transported across borders. Shipping of hazardous materialis not only considered dangerous but also requires a lot of regulations and guidelines to be transported.
Hazmat packaging is considered to be an important factor in the transportation of hazardous material or products. These material or products are capable of affecting the human health or environment in a negative manner. Hazmat packaging is an effective solution to avoid these problems.
It can be done in many ways by using industrial bulk containers, flexi tanks, pails and drums. Packaging by using these products is considered as the primary packaging. For secondary packaging of hazardous material, corrugated boxes are commonly used.
The main purpose of using hazmat packaging is the transportation of hazardous products or material across state borders and national borders. In addition, it is also used to store hazardous material. In addition, rise in various end-user industries such as chemicals, pharmaceuticals, and others are creating the demand for the drums for transportation of hazardous goods.
Key Benefits
- The report provides an Extensive analysis of the current and emerging HAZMAT packaging market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2021 and 2031.
- Extensive analysis of the HAZMAT packaging market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
Market Dynamics
Drivers
- Rise in awareness about the safety transportation of hazardous goods
- Rise in demand for protective packaging material from healthcare industry
- Flourishing oil and gas industry
Restraints
- Hazardous particles released during manufacturing
Opportunities
- Government Rules & Regulations for safety packaging
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 212 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $10187.7 million |
| Forecasted Market Value (USD) by 2031 | $17237.9 million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Market Segments
By Product Type
- Drums
- Intermediate bulk containers (IBCs)
- Pails
- Bottles
By Material Type
- Plastics
- Metal
- Corrugated
By End-User Industry
- Chemicals
- Pharmaceuticals
- Oil and Gas
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/fc13o
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