NEWARK, DEL, March 27, 2024 (GLOBE NEWSWIRE) -- The GHS label market is expected to be valued at US$ 1,668.4 million in 2024. Rapid adoption of the GHS system by countries has been a boon for the market. The growth of the labeling sector is also contributing to the uptick in demand for the labels.
The market is set to register a CAGR of 3.4% over the period from 2024 to 2034. The chemical industry looking for tough material that expounds on the hazardous nature of the material inside is set to invigorate market demand. The incorporation of barcodes and other identifying marks to help in the tracking of hazardous materials is also predicted to enhance demand for GHS labels.
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The market’s value is forecasted to jump up to US$ 2,330.7 million by 2034. Increasing laboratory and research use of chemical materials is marked to add considerable value to the market. An increase in import-export activities related to chemicals is also positively impacting the market.
There are, however, factors that slow down the growth of the GHS label market. Certain countries have been slow in the adoption of GHS, such as India where the labeling is not yet mandatory, or have not adopted the system entirely. Other labeling standards such as NFPA and HMIS, though they often are in conjunction with GHS, also limit market growth.
“To satiate the need for rigid GHS labels, manufacturers are turning to thermal paper. While the market does have to contend with certain drawbacks, the widened functionality of the product and the boosting of the chemical sector are factors that offer much promise to stakeholders,” opines Ismail Sutaria, Principal Consultant at Future Market Insights
Key Takeaways from the GHS Label Market
- The GHS label market is projected to be valued at US$ 1,668.4 million in 2024.
- Thermal transfer is the prevailing printing technology in the market. It is expected to account for 63.4% of the market share in 2024.
- Direct thermal paper tops the material segment. For 2024, it is anticipated to account for 35.4% of the market share.
- India is a promising country for the market. For the forecast period, the CAGR for India is estimated to be 4.5%.
- China and Thailand are pegged to be similarly promising countries for the market. The CAGR for both China and Thailand over the forecast period is predicted to be 4.0%
- The market is expected to register a CAGR of 3.9% in Japan over the forecast period.
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Competition Analysis of the GHS Label Market
Making the label-production process more efficient is concentrated upon by market players. Reputed companies are targeting innovation with the help of various inks and printers.
Key Companies in the GHS Label Market
- Avery Dennison Corporation
- UPM Raflatac
- PPG Industries, Inc.
- Brady Worldwide, Inc.
- 3M Company
- CCL Industries Corp.
- Reliance Label Solution, Inc.
- HERMA GmbH
- Weber Packaging Solutions, Inc.
- SATO AMERICA, LLC
- Brandywine Drumlabels, LLC
- TCI America, Inc.
- Loftware, Inc.
- Nippon Shokubai America Industries, Inc.
- Teklynx Newco SAS
Recent Developments in the GHS Label Market
- In February 2024, the GHS L.A.B.E.L. Profile program was launched by Reliance Label Solutions.
- In December 2022, Polysciences made the switch to Epson ColorWorks printers for its GHS labeling needs.
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Key Segments
By Product Type:
- Pre-printed
- Personalized
By Material:
- Polypropylene (PP)
- Polyethylene (PE)
- Polyester (PET)
- Polyimide
- Vinyl
- Direct Thermal Paper
By Size:
- 215mm x 279mm
- 215mm x 355mm
- 210mm x 297mm
- 148mm x 210mm
- Other Label Size
By Printing Technology:
- Thermal Transfer
- Pigmented Ink Jet
- Color Laser
By Packaging Formats:
- Primary Containers
- Secondary Containers
By End Use:
- Manufacturers
- Logistic & Transport Companies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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