Embarking on a trajectory of steady advancement, the global GHS Labels Market is poised to achieve a commendable value of US$ 2.3 billion by the year 2030, exhibiting a respectable compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. This growth is attributed to the escalating emphasis on standardized labeling in various industries, reflecting the increasing importance of global harmonization and safety compliance. As the market evolves, the projected CAGR highlights the sustained demand for effective communication of hazard information, underscoring the GHS Labels Market’s role in enhancing workplace safety and regulatory adherence worldwide.
Furthermore, the imperative need for appropriately labeling hazardous substances, complete with vital instructions for safe handling and transportation, is fostering a widespread embrace of GHS labels among manufacturers. The market is propelled by technological advancements, evolving packaging objectives, and the versatile applicability of GHS labels, collectively steering the industry towards sustained growth.
Germany stands out as a promising market for GHS labels, poised to surpass its European counterparts due to robust production capacities. Future Market Insights (FMI) analysis forecasts that Germany’s GHS labels market is anticipated to reach a valuation of US$ 51.9 million, commanding a substantial 15% market share by the year 2030. This underscores Germany’s significant role in the regional landscape, reflecting both the nation’s industrial prowess and the heightened emphasis on hazard communication and safety standards within the country.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-9942
Key Takeaways of GHS Labels Market Study
- After a period of negative growth, GHS labels sales well improve marginally, registering a 0.2% y-o-y growth in terms of value in 2022
- Expansion of chemicals sector will boost growth in the U.S., enabling it to hold 87% share in the North America market in 2022
- The U.K. will register negative y-o-y growth in 2021, however, sales are poised to improve 2022 onwards
- Germany will record positive growth in sales in 2021, however, sales in France will recover 2022 onwards
- Increasing production and export of chemicals has placed China as the dominant market in East Asia, followed by Japan and South Korea
Competitive Landscape
Some of the leading manufacturers of GHS labels are focusing on product innovations to make their products stand out from others. Manufacturers are specializing in short lead times, fast turn-around, and production of GHS labels in small quantities.
- In 2020, Avery Dennison acquired Smartrac’s RFID transponder business.
- Herma GmbH introduced BPA-free thermal labels in June 2019.
Competitive Landscape
- Avery Dennison Corporation
- UPM Raflatac
- PPG Industries, Inc.
- Brady Worldwide, Inc.
- 3M Company
- CCL Industries Corp.
- Reliance Label Solution, Inc.
- HERMA GmbH
- Weber Packaging Solutions, Inc.
- SATO AMERICA, LLC
- Brandywine Drumlabels, LLC
- TCI America, Inc.
- Loftware, Inc.
- Nippon Shokubai America Industries, Inc.
- Teklynx Newco SAS
“Besides implementation of stringent regulations, requiring the chemical sector to clearly state potential hazards, focus on preventing counterfeiting of products will give tailwinds to growth registered by the market,” said a lead analyst at FMI.
Market Drivers:
- Global Regulatory Compliance: The increasing adoption of GHS labels is often driven by regulatory requirements imposed by governments and international bodies. Many countries have implemented or are in the process of adopting GHS standards to enhance chemical safety and facilitate international trade.
- Occupational Safety and Health Concerns: The emphasis on occupational safety and health standards has led to a growing demand for clear and standardized communication of chemical hazards. GHS labels provide a globally recognized system for conveying information about the hazards associated with chemicals.
- International Trade: GHS labels facilitate global trade by providing a standardized approach to the classification and labeling of chemicals. This harmonization reduces barriers to trade and simplifies compliance for businesses operating in multiple countries.
- Risk Mitigation: GHS labels play a crucial role in risk communication and management. They help in reducing the risks associated with the handling, transportation, and use of chemicals by providing consistent and easily understandable information to workers, emergency responders, and the general public.
- Increasing Awareness: Growing awareness among industries and the general public about the importance of chemical safety and the potential hazards associated with various substances contributes to the demand for GHS labels.
Market Restraints:
- Implementation Costs: The adoption of GHS labeling systems may involve initial implementation costs for businesses. This includes updating labeling systems, training employees, and ensuring compliance with new standards, which can be a restraint for some companies.
- Complexity and Adaptation Challenges: The transition to GHS labeling systems can be complex, especially for businesses with large and diverse product portfolios. Adapting to new labeling requirements and ensuring consistency across different regions and products may pose challenges.
- Resistance to Change: Some companies may resist adopting GHS labeling due to a reluctance to change existing labeling practices. This resistance could stem from concerns about disruptions to current processes or a lack of awareness about the benefits of GHS.
- Differences in National Regulations: Although GHS aims to harmonize labeling globally, there may still be differences in how different countries interpret and implement GHS standards. This can create challenges for companies operating in multiple jurisdictions.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/9942
Key Segments Covered in GHS Labels Industry Research
by Product Type
- Pre-printed
- Personalized (On-demand)
by Material
- Polypropylene (PP)
- Polyethylene (PE)
- Polyester (PET)
- Polyimide
- Vinyl
- White Thermal Transfer/Direct Thermal Paper
by Size
- 215mm x 279mm
- 215mm x 355mm
- 210mm x 297mm
- 148mm x 210mm
- Any Other Label Size
Packaging Format
- Primary Containers
- Secondary Containers
Printing Technology
- Thermal Transfer
- Pigmented Ink Jet
- Color Laser
by End-use
- Manufacturers
- Logistic & Transport Companies
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
