GHS Label Demand Poised to Surge with Manufacturing Sector Accounting for Over Half of Sales: Study
Future Market Insights delivers key insights on the GHS labels market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2020–2030. In terms of revenue, the global GHS labels market is estimated to grow by 1.6x during the forecast period, owing to numerous factors such as increasing demand from chemicals and other industries.
Ghs Labels Market
A recent market report published by FMI on the GHS labels marketprovidesglobal industry an...
GHS stands for globally harmonized system of categorizing and labelling chemicals. Stringent regulations are implemented around the world, compelling the classification of hazardous chemicals on labels. With focus on safer packaging rising, the GHS label market will significantly expand in the coming years.
Among end users, manufacturers are expected to account for a higher share in the demand for GHS labels. According to the report, manufacturers are expected to account for over half of demand exhibited in the market.
Key Takeaways of GHS Labels MarketStudy
- After a period of negative growth, GHS labels sales well improve marginally, registering a 0.2% y-o-y growth in terms of value in 2021
- Expansion of chemicals sector will boost growth in the U.S., enabling it to hold 87% share in the North America market in 2021
- The U.K. will register negative y-o-y growth in 2021, however, sales are poised to improve 2022 onwards
- Germany will record positive growth in sales in 2021, however, sales in France will recover 2022 onwards
- Increasing production and export of chemicals has placed China as the dominant market in East Asia, followed by Japan and South Korea
“Besides implementation of stringent regulations, requiring the chemical sector to clearly state potential hazards, focus on preventing counterfeiting of products will give tailwinds to growth registered by the market,” said a lead analyst at FMI.
Demand for GHS Labels Rising As Brand Owners Aim to Prevent Counterfeit Products
The risk of loss of commodity due to mishandling the hazardous chemicals while transit is always there by all modes of transit, such as rail, road, and sea. But the usage of globally harmonized system labels can help shippers as well as the buyers and sellers of hazardous chemicals to ensure safe and easy handling of harmful chemicals.
Expansion of the chemicals industry has stimulated growth in various several markets, including that for GHS labelling. With increasing demand for labelling, manufacturers are also offering advanced labelling solutions to brand owners which provide tracking, and tracing of chemical products. However, major challenge faced by logistics companies is the counterfeit of chemicals which can be reduced by usage of GHS labels.
Growing of the chemical sector, particularly in global markets, has led to emergence of modern facilities that sell wide variety of product categories in bulk quantities. GHS labels reduce chances of package tampering, which ensures right delivery of products to consumers. Various GHS label manufacturers offer labels that can be applied on variety of substrates such as glass, paper, plastics, etc. with the latest technology such as RFID, which are used as unified classification for packaging in the chemical sector.
Space Constraint of GHS Labels to Hamper the Growth
Globally harmonized system labels are indicators for potential harms that can be caused by the mishandling of the particular chemical or commodity. But sizes of GHS labels varies commodity wise.Some commodities are packed in a smaller packaging to save packaging costs, but information for hazards may be more than the space available. In that cases the information is depicted in smaller or hardly visible sizes, which does not fulfills the safety requirement needed for hazardous chemical, and may result in loss of life or property.
The GHS labels with incomplete information are more harmful and potential to cause more danger while usage or handling of the harmful chemicals. The important and most harmful dangers are listed on the label, but the dangers which are less likely are not listed on the labels.
- For example:- A chemical drum or bottle packed by manufacturer is small in size, which may not allow to label or showcase in a pictorial manner about all the potential harms that mishandling of that products may result in to.
- Due to limited space it is possible that only most harmful hazards are listed, but due to partial listing of hazards there may be an, loss of live or property during the usage or handling of chemicals with partial information on it.
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. and Teklynx Newco SAS are some of the leading companies operating in the market.
Valuable Insights into GHS Labels Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global GHS labels market, analysing historical demand from 2015-2019 and forecast statistics for 2020–2030. The study reveals growth projections on the GHS labels marketon the basis ofproduct type (pre-printed and personalized), by size (polypropylene (PP), polyethylene (PE), polyester (PET), polyimide, vinyl and white thermal transfer/direct thermal paper), bypackaging format (primary containers and secondary containers), by printing technology (thermal transfer, pigmented ink jet and color laser)and by end use (manufacturers and logistics & transport companies) across sevenregions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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