Global HAZMAT Labels Market: Overview
HAZMAT Labels, also known as ‘Hazardous Material Labels’ are applied on hazardous goods as an indication. These labels have excellent durability and cannot be impaired by other labels, markings & attachments. HAZMAT labels are categorized into nine classes for different purposes such as explosives, flammable gases, flammable liquids, inhalation hazards, organic peroxides etc. HAZMAT Labels for each class have a specific size & color. Most of the HAZMAT labels have contrasting background & a dotted line border. HAZMAT labels have text & symbols either in white or black. It is important to choose the correct HAZMAT labels for shipments, as labelling a material incorrectly can result in costly shipping delays, injuries & fines. HAZMAT labels must be printed or attached to any one side of product offered for transport. It is mandatory for HAZMAT labels to be attached alongside UN numbers.
US Department of Transportation (DOT) has developed certain specifications for labels, markings and placards that must be prominently displayed on each package or container, including transport vehicles in order to safeguard health, safety, and property. The global market of HAZMAT labels is anticipated to grow rapidly during the forecast period, due to growing demand from chemical, pharmaceutical and various other end use industries.
Global HAZMAT Labels Market: Dynamics
The continuous growth of HAZMAT packaging market plays a key role in driving the demand for HAZMAT labels. As the non-compliance with the shipping regulations of hazardous material can incur charges, all end users prefer HAZMAT packaging to comply with regulations, which boosts growth of the HAZMAT labels. The need for safe & secure packaging for material that requires special handling is also anticipated to be a key driver of the HAZMAT labels market. Increasing demand for chemicals such as flammable liquids, inhalation hazards, and organic peroxides for industrial purposes escalates growth of HAZMAT labels market. Growth in use of cleaning agents such as ammonia, borax and various other materials also increases the demand for HAZMAT labels in the market.
Stringent labelling regulations by governments regarding the transportation of hazardous material accelerates market growth of HAZMAT labels, globally. Rising popularity of interactive packaging where end users can directly track the packaging using HAZMAT labels with technologies like RFID etc. is considered a new opportunity for growth of the HAZMAT labels market.
Global HAZMAT Labels Market: Segmentation
On the basis of material, global HAZMAT labels market has been segmented as:
On the basis of product type, global HAZMAT labels market has been segmented as:
On the basis of end use, global HAZMAT labels market has been segmented as:
Geographically, the global HAZMAT labels market has been segmented based on the region like North America, Latin America, Western Europe, Eastern Europe, MEA, APEJ, and Japan. Asia Pacific and MEA. U.S. has strong market in HAZMAT labels accounting for highest refineries & chemical producing nation in the world. The U.S. accounts for the largest share in HAZMAT labels market, owing to a large petrochemical industry. MEA region and other Asia Pacific countries such as China, India etc. are expected to witness moderate growth in the HAZMAT labels market, during the forecast period.
Global HAZMAT Labels Market: Key Players
Some of the key players in the HAZMAT labels market are as follows:
Many local and unrecognized players are expected to contribute to the global HAZMAT labels market during forecast period.
Global HAZMAT Labels Market: Key Developments
Some of the key developments in the HAZMAT labels market are as follows:
The report is a compilation of first-hand information, qualitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis includes -
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