A recent report published by Infinium Global Research on HAZMAT packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional HAZMAT packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional HAZMAT packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global HAZMAT packaging market. According to the report, the global HAZMAT packaging market is projected to grow at a CAGR of 6.64% over the forecast period of 2019-2025.
The packaging industry has witnessed a lot of changes in the recent past. The growing demand for custom packaging has led the manufacturers to develop innovative packaging solutions. HAZMAT packaging is one of the types of custom packaging used to contain hazardous materials, hence the name HAZMAT packaging. The HAZMAT packaging market is highly fragmented in nature, wherein a number of market players account for a large part of market share. The key players in the market including Hazmatpac, Inc., Balmer Lawrie & Co. Ltd., BASCO, Inc., The Cary Company, Thielmann US LLC., LPS Industries, LLC. and others are focusing on product innovation strategy for their growth.
The need for a safe and secure packaging is majorly driving the HAZMAT packaging market. Some of the goods such as some chemicals, oil, agriculture products, and others require special care while transporting. This, in turn, increases the demand for HAZMAT packaging. Moreover, the efficiency in the transportation of goods through HAZMAT packaging is expanding its demand. HAZMAT packaging keeps the goods inside safe and intact, which reduces the transportation cost. Furthermore, the rapidly growing E-retail sector is supporting the growth of the HAZMAT packaging market. Many of the manufacturers have turned to e-retailers to increase their sales and to maintain their competitive edge. However, the fragmented demand in developed nations is the major restraining factor for the growth of the HAZMAT packaging market. Nevertheless, the emergence of interactive packaging is expected to offer lucrative opportunities for the key players in the HAZMAT packaging market.
In terms of region, North America generated the highest revenue for HAZMAT packaging, dominating the global packaging market. The large market share of the North America region attributed to the growing freight and logistics industry in the region. Moreover, the well-established end-user industries in the region are expected to boost the growth of the HAZMAT packaging market in North America.
The report on global HAZMAT packaging market covers segments such as product type, material, and application. On the basis of product type, the sub-markets include drums, IBC's, flexitanks, and other product types. On the basis of material, the sub-markets include metal, plastic, and corrugated paper. On the basis of application, the sub-markets include chemicals, oil & gas, logistics, automotive, pharmaceutical, agriculture, and other applications.
The report provides profiles of the companies in the market such as Hazmatpac, Inc., Bee Packaging, Balmer Lawrie & Co. Ltd., BASCO, Inc., Greif Inc., The Cary Company, Uline Company, Thielmann US LLC., LPS Industries, LLC. Fibrestar Drums Limited, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of HAZMAT packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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