Newark, Delaware, March 27, 2024 (GLOBE NEWSWIRE) — The GHS label market is expected to be valued at… 1,668.4 million US dollars in 2024. The rapid adoption of GHS by countries has been a boon for the market. The growth of the labeling sector is also contributing to the increased demand for labels.
The market is set to record a CAGR of 3.4% Over the period from 2024 to 2034. The chemical industry’s search for solids to explain the hazardous nature of the substances within them is set to stimulate demand in the market. The incorporation of barcodes and other identification marks to help track hazardous materials is also expected to boost demand for GHS labels.
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The market value is expected to jump to 2,330.7 million US dollars By 2034. Increasing laboratory and research use of chemicals is expected to add significant value to the market. The increase in import and export activities related to chemicals is also having a positive impact on the market.
However, there are factors that are slowing down the growth of the GHS labels market. Some countries have been slow to adopt the GHS, such as India where labeling has not yet become mandatory, or have not fully adopted the system. However, other labeling standards, such as NFPA and HMIS, although often combined with GHS, also limit market growth.
“To meet the need for rigid GHS labels, manufacturers are turning to thermal paper. While the market has to contend with some drawbacks, the expanded functionality of the product and the strengthening of the chemical sector are factors that offer a lot of promise to stakeholders.” says Ismail Sutaria, Principal Consultant at Future Market Insights
Key takeaways from the GHS label market
- The GHS labels market is expected to reach US$1,668.4 million in 2024.
- Thermal transfer is the dominant printing technology in the market. It is expected to occupy 63.4% of the market share in 2024.
- Direct thermal paper leads the material segment. For 2024, it is expected to represent 35.4% of the market share.
- India is a promising country for the market. For the forecast period, India’s CAGR is estimated at 4.5%.
- China and Thailand are expected to be similarly promising countries for the market. The CAGR for both China and Thailand over the forecast period is expected to reach 4.0%.
- The market is expected to register a CAGR of 3.9% in Japan during the forecast period.
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Competition analysis in the GHS labels market
Making the label production process more efficient is something market players are focusing on. Reputable companies are targeting innovation with the help of different inks and printers.
Key players in the GHS labels market
- Avery Denison Company
- UPM RFLATC
- BPG Industries
- Brady Worldwide, Inc
- 3M Company
- CCL Industries
- Reliance Label Solutions Company
- HERMA LIMITED
- Weber Packaging Solutions Company
- Sato America, LLC
- Brandywine Drumlabs, LLC
- TCI America Corporation
- Loftware company
- Nippon Shockbay America Industries, Inc
- Techlinks Newco SAS
Recent developments in the GHS labels market
- In February 2024, GHS LABEL Profile software was launched by Reliance Label Solutions.
- In December 2022, Polysciences switched to Epson ColorWorks printers for its GHS labeling needs.
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Main sectors
By product type:
According to the article:
- Polypropylene (PP)
- Polyethylene (PE)
- polyester(PET)
- Polyimide
- Vinyl
- Direct thermal paper
By size:
- 215mm x 279mm
- 215mm x 355mm
- 210mm x 297mm
- 148mm x 210mm
- Other label size
By printing technology:
- Thermal transfer
- Pigmented inkjet
- Color laser
By packaging formats:
- Primary containers
- Secondary containers
By end use:
- Manufacturers
- Logistics and transportation companies
By region:
- north america
- latin america
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author by:
Ismail Sutaria (Principal Packaging and Materials Consultant) has over 8 years of experience in market research and consulting in the field of packaging and materials. Ismail’s strength lies in identifying a client’s key challenges and providing logical, actionable insights to empower clients with strategic decision-making power.
Ismail has been an essential part of many transformational consulting assignments. His core skills include competitive performance measurement, opportunity assessment, macroeconomic analysis, and business transformation consulting. Ismail holds an MBA in Marketing and holds a Bachelor’s degree in Mathematics.
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About Future Market Insights (FMI)
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