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Allied Market Research

Hazmat Packaging Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

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Jun 2021 | 203 Views
 
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Hazmat Packaging Market Outlook - 2027

Packaging is a very important factor for any industry as proper packaging ensures safety and prevents malfunctioning of the product. Different types of packaging are currently being used in the industry. Packaging method of the product is decided on the basis of the product to be packed. Hazmat packaging is used products that are hazardous for health and their transportation is not very easy. Hazmat packaging is a very effective way of packaging these products so that any harm to humans or the environment can be avoided.

Market scope and structure:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Product Type, Material, Application, End-User Industry

  Companies covered

Greif Inc., SIA Flexitanks, Hoover Ferguson Group, Schutz Container Systems, Inc., Mauser Group B.V., HINRICH Industries, Thielmann US LLC, Eagle Manufacturing Company, Patrick J. Kelly Drums, Inc., Clouds Drums Dubai LLC., Balmer Lawrie & Co. Ltd., Sicagen India Ltd, Great Western Containers Inc., Fibrestar Drums Limited, Meyer Steel Drum, Inc., and Peninsula Drums

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

 

COVID-19 scenario analysis:

  • The demand for hazmat packaging is expected to decrease in 2020 due to low demand from different industries, such as pharmaceuticals and chemical, owing to the lockdown imposed by governments of many countries.
  • COVID-19 crisis is likely to affect the hazmat packaging industry negatively as a result of halted manufacturing and massive reduction in demand for luxury and non-essential services globally.
  • COVID-19 crisis had a mixed impact on the packaging industry, mainly due to closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
  • The requirement of e-commerce specific packaging is likely to remain strong; although, the e-commerce companies would have to focus on protection of goods and sanitization of packages. 
  • In addition, the food packaging industry is on the frontline within the global packaging market, owing to the demand for essential products, such as groceries and fresh food, mainly from local e-retail sites. 
  • Industrial, transportation, and bulk packaging has faced a sharp decline, owing to decreased demand for non-essential goods during the first two quarters of 2020. 
  • Low disposable income of maximum population and weak demand for packaging from industrial goods led to the packaging industry to face significant pressure of reduction in both wholesale as well as retail costs. 
  • Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services. This is expected to hinder the packaging industry growth in the future after the COVID-19 crisis. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Hazmat packaging is considered to be an important factor in the transportation of hazardous materials or products. These materials or products are capable of affecting the human health or environment in negative manner. Hazmat packaging is an effective solution to avoid these problems. It can be done in many ways by using industrial bulk container, flexi tanks, and drums. Packaging by using these products is considered as the primary packaging. For secondary packaging of hazardous materials, corrugated boxes are commonly used. The main purpose of using hazmat packaging is the transportation of hazardous products or materials across state borders and national borders. In addition, it is also used to store hazardous materials. For shipping of hazardous materials, there are regulations and guidelines to be followed by the company. These regulations have been set by organizations such as ICAO, IATA, IMO, and U.S.DOT.

Classes defined under hazmat packaging include infectious substance, toxics, corrosives, oxidizing substances, flammable solids, flammable liquids, gases, and explosives. The design of hazmat packaging solution is made such that it is capable of protecting the cargo from leakage or explosion. Various details should be provided on hazmat packaging such as packing group, identification number, hazardous material classification, and shipping name Marketing and labeling are considered as the primary factors for the hazmat packaging market. Hazmat packaging must be of good quality to avoid serious injuries to human life and environment.

Furthermore, hazmat packaging is used in different industries, including storage and transportation of hazardous chemicals, materials, and products. These industries include pharmaceutical industry, automotive industry, chemical industry, and oil & gas industry. Packaging of materials or products, which can cause serious damage to human health and environment, needs to be done with proper care while considering all the regulations & guidelines. It provides safety against hazards and also satisfies all the regulations. This could be the key driving factor for the growth of the hazmat packaging market.

Additionally, air sea containers have been used by many companies as the type of hazmat packaging for secondary packaging of hazardous materials or products. This has emerged as an effective option for packaging. Therefore, the demand for hazmat packaging is expected to rise during the forecast period.

Key segments covered:

Segments

Sub-segments

  Product Type

 

  • Cans
  • Cartons
  • Drums
  • Others

  Material Type

 

  • Plastics
  • Metal
  • Corrugated Paper

  Application

  • Paints & Dyes
  • Industrial Chemicals
  • Lubricants & Oils

  End-Use Industry

 

  • Oil and Gas
  • Automotive
  • Pharmaceuticals
  • Agriculture and Horticulture

 

Key benefits of the report:

  • This study presents the analytical depiction of the hazmat packaging market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the hazmat packaging market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the hazmat packaging market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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