HAZMAT Packaging Market Trends and Forecast
The future of the global HAZMAT packaging market looks promising with opportunities in the chemical & petrochemical, oil & gas, freight & logistic, automotive, and pharmaceutical markets. The global HAZMAT packaging market is expected to reach an estimated $24.8 billion by 2030 with a CAGR of 11.3% from 2024 to 2030. The major drivers for this market are rising need for eco-friendly HAZMAT packaging materials, increasing regulatory requirements for the safe transport of hazardous materials, and expanding industrial activities globally.
• Lucintel forecasts that combustible liquid is expected to witness the highest growth over the forecast period.
• Within this market, chemical & petrochemical is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: The Department of Transportation introduced stricter regulations for lithium battery transport, prompting companies like UPS to enhance their HAZMAT packaging solutions. Additionally, FedEx announced investment in advanced HAZMAT packaging technology to meet new safety standards.
Germany: BASF SE launched a sustainable HAZMAT packaging initiative aiming for 50% recycled materials by 2025. The German government also increased funding for research into eco-friendly packaging solutions, encouraging innovations within the industry.
China: Sinotrans Limited expanded its HAZMAT logistics services, incorporating advanced tracking systems for hazardous materials. The Chinese government set new targets for safer HAZMAT transport, driving companies to upgrade their packaging standards.
India: Gati Ltd. announced a collaboration with local manufacturers to develop cost-effective HAZMAT packaging solutions. The Indian government introduced incentives for companies adopting eco-friendly HAZMAT packaging, spurring industry-wide advancements.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
HAZMAT Packaging by Segment
The study includes a forecast for the global HAZMAT packaging by type, application, and region.
HAZMAT Packaging Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Combustible Liquid
• Combustible Solid
• Oxidation Material
• Toxic Substances
• Others
HAZMAT Packaging Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemical & Petrochemicals
• Oil & Gas
• Freight and Logistics
• Automotive
• Pharmaceuticals
• Others
HAZMAT Packaging Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of HAZMAT Packaging Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies HAZMAT packaging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the HAZMAT packaging companies profiled in this report include-
• Greif
• SIA Flexitanks
• Hoover Ferguson Group
• Schutz Container Systems
• Mauser Group
• HINRICH Industries
• Thielmann US
• Eagle Manufacturing
• Patrick J. Kelly Drums
• Clouds Drums Dubai
Recent Development in the HAZMAT Packaging Market
UPS: UPS has enhanced its HAZMAT packaging solutions in response to stricter regulations introduced by the U.S. Department of Transportation for the transport of lithium batteries. The company is investing in advanced packaging technology to ensure compliance and safety.
BASF SE: BASF SE has launched a sustainable HAZMAT packaging initiative, aiming to incorporate 50% recycled materials in their packaging by 2025. This initiative is part of their broader strategy to reduce environmental impact and promote sustainability in the chemical industry.
Sinotrans Limited: Sinotrans Limited has expanded its HAZMAT logistics services by integrating advanced tracking systems for hazardous materials. This expansion is aligned with the Chinese governmentÄX%$%Xs new safety targets for HAZMAT transport, prompting companies to upgrade their packaging and logistics standards.
Gati Ltd.: Gati Ltd. announced a collaboration with local manufacturers in India to develop cost-effective HAZMAT packaging solutions. The Indian government has introduced incentives for companies adopting eco-friendly HAZMAT packaging, which has driven industry-wide advancements and innovation.
FedEx: FedEx has announced significant investments in advanced HAZMAT packaging technology to meet new safety standards and regulations. This move is part of their commitment to ensuring the safe and compliant transport of hazardous materials across their logistics network.
Features of the Global HAZMAT Packaging Market
Market Size Estimates: HAZMAT packaging market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: HAZMAT packaging market size by type, application, and region in terms of value ($B).
Regional Analysis: HAZMAT packaging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the HAZMAT packaging market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the HAZMAT packaging market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the HAZMAT packaging market size?
Answer: The global HAZMAT packaging market is expected to reach an estimated $24.8 billion by 2030.
Q2. What is the growth forecast for HAZMAT packaging market?
Answer: The global HAZMAT packaging market is expected to grow with a CAGR of 11.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the HAZMAT packaging market?
Answer: The major drivers for this market are rising need for eco-friendly HAZMAT packaging materials, increasing regulatory requirements for the safe transport of hazardous materials, and expanding industrial activities globally.
Q4. What are the major segments for HAZMAT packaging market?
Answer: The future of the HAZMAT packaging market looks promising with opportunities in the chemical & petrochemical, oil & gas, freight & logistic, automotive, and pharmaceutical markets.
Q5. Who are the key HAZMAT packaging market companies?
Answer: Some of the key HAZMAT packaging companies are as follows:
• Greif
• SIA Flexitanks
• Hoover Ferguson Group
• Schutz Container Systems
• Mauser Group
• HINRICH Industries
• Thielmann US
• Eagle Manufacturing
• Patrick J. Kelly Drums
• Clouds Drums Dubai
Q6. Which HAZMAT packaging market segment will be the largest in future?
Answer: Lucintel forecasts that combustible liquid is expected to witness the highest growth over the forecast period.
Q7. In HAZMAT packaging market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the HAZMAT packaging market by type (combustible liquid, combustible solid, oxidation material, toxic substances, and others), application (chemical & petrochemicals, oil & gas, freight and logistics, automotive, pharmaceuticals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to HAZMAT Packaging Market Market, HAZMAT Packaging Market Market Size, HAZMAT Packaging Market Market Growth, HAZMAT Packaging Market Market Analysis, HAZMAT Packaging Market Market Report, HAZMAT Packaging Market Market Share, HAZMAT Packaging Market Market Trends, HAZMAT Packaging Market Market Forecast, HAZMAT Packaging Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.