Zion Market Research has published a new report titled “Hazmat Packaging Market by Material (Metal, Corrugated Paper, and Plastic), by Product (Drums & Pails, IBCs, Cartons, Boxes, Cans, Flexi Tanks, Bottles, and Others), and by End-User (Chemical & Petrochemicals, Paints & Dyes, Oil & Gas, Industrial Chemicals, Freight & Logistics, Automotive, Lubricants & Oils, Pharmaceuticals, Agriculture & Horticulture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global hazmat packaging market was USD 8.10 billion in 2018 and is expected to reach around USD 12.71 billion by 2025, growing at a CAGR of 5.8% between 2019 and 2025.
Hazmat packaging involves the use of specially designed materials for packing hazardous materials for storage and transportation. These materials can pose a risk to personnel or property while transportation. Hazmat packaging generally possesses two layers— primary and secondary. Shipping of these materials is unsafe and needs to be in compliance with the guidelines framed by various international authorities like IMO, ICAO, U.S.DOT, and IATA. The hazmat packaging market is expected to witness significant growth in the future, due to the rising demand for secure and safe transportation of hazardous materials and the growing need to for better quality hazmat packaging to prohibit any physical loss of dry and liquid materials.
Hazmat packaging provides supplementary benefits of marketing of hazardous materials, which is usually a difficult task for manufacturers. New-age digital marketing solutions have fuelled awareness and demand for hazmat packaging. Product demand for industrial chemicals, oils and gas, paints and dyes, and petrochemicals has been growing, especially from the developing regions. This will further contribute to the hazmat packaging market growth.
The hazmat packaging market is fragmented based on the product, material, and end-user. By product, the market includes boxes, IBCs, bottles, drums and pails, cans, cartons, flexi tanks, and others. Drums and pails hold the largest market share, due to their cost-effectiveness and easy handling. By material, the market is sectioned into corrugated paper, plastic, and metal. Plastic accounts for a major market share, owing to its lightweight and inexpensive nature. The end-user segment of the market is categorized into freight and logistics, agriculture and horticulture, pharmaceuticals, oil and gas, chemical and petrochemicals, industrial chemicals, automotive, lubricants and oils, paints and dyes, and others. Chemicals and petrochemicals industry is projected to hold a significant share of the global market for hazmat packaging.
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North America is a dominant region in the hazmat packaging market globally, due to its well-developed end-user industries that use hazmat packaging. The region is estimated to maintain its global leadership over the forecast timeline as well. The Asia Pacific is expected to register the fastest CAGR in the future in the hazmat packaging market, owing to the growing manufacturing of hazardous material and rapid industrialization in the region.
Some leading players of the hazmat packaging market are Greif, SIA Flexitanks, Thielmann, Schutz Container Systems, Peninsula Drums, Mauser Group, HINRICH Industries, Eagle Manufacturing, Patrick J. Kelly Drums, Clouds Drums Dubai, Balmer Lawrie, Sicagen India, Great Western Containers, Fibrestar Drums, Meyer Steel Drum, and Hoover Ferguson.