Hazardous Chemicals Packaging: Market Introduction
Globally, hazardous chemicals are a factual presence in various societies and could pose a threat if not managed or handled carefully. The global hazardous chemicals packaging market is characterized by packaging technology to protect and transport chemical products. Manufacturers of chemicals packaging provide various solutions for hazardous chemicals such as IBCs, drums, bins etc. Hazardous chemical packaging eliminates the transit damage and increases the shelf life of the products during transportation as well as during storage. Moreover, hazardous chemical packaging solutions offers safety not only to the products but also to the labors. The risk of spillage, explosion and corrosion is reduced owing to efficient encapsulation of chemical products. Hazardous chemical packaging offers protective solution to chemicals which are extensively used in chemical and in pharmaceutical industries.
Hazardous Chemicals Packaging: Market Dynamics
The major reason leading to the market growth of hazardous chemicals packaging is the outsourcing of chemicals across globe. The growth of hazardous chemical packaging is vastly driven by the use of intermediate bulk containers which offers enhanced performance and are cost effective than other packaging containers. Increasing penetration of hazardous chemical packaging in pharmaceuticals sector leads to increase in market share. Moreover, hazardous chemical packaging offers protective solution and prevents the risk of spillage and explosion. High durability and increased performance of hazardous chemical packaging solutions such as IBCs, drums among others making them preferred packaging solutions over other packaging formats. Low cost, performance and reusability of drums in the transportation and storage of hazardous chemicals, resulting in wide usage packaging solutions. Factor leading to the burgeoning demand of hazardous chemicals packaging market is that it ensures the safety of labors regarding health. Furthermore, hazardous chemical packaging solution offers high stack ability ensuring the safety of the product inside.
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Hazardous chemical packaging market is gaining traction among manufacturers owing to the growing demand for metal IBCs. Hazardous chemical packaging solution eliminates the product damage and provides an extended shelf life to the products inside.
Despite the favorable conditions for the growth of hazardous chemicals packaging market, there are certain factors that hinder the growth such as hazardous chemicals may lead to corrosion of the packaging material which may result in product spillage and induces health related risk.
Hazardous Chemicals Packaging: Regional Outlook
Hazardous chemical packaging market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America is expected to dominate the overall market share of hazardous chemicals market owing to increase in shipping & logistics sector over the forecast period. North America is followed by APAC region and is anticipated to register highest growth rate over the forecast period. Europe region is expected to account significant market share in hazardous chemicals packaging market owing to mature market. MEA region is also expected to gain momentum in hazardous chemical packaging market as the region is focusing on non-oil and gas economy by increasing shipping & logistics market.
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Hazardous Chemicals Packaging: Key Players
Some of the key players in the field of hazardous chemicals packaging market are Time Technoplast Ltd., Thielmann US LLC, Precision IBC, Inc., Hawman Container Services.