GHS labels market set to grow steadily at a CAGR of 3.4% until 2034 | Future Market Insights Company

 The printed plastic film market is expected to grow at a CAGR of 4.02% until 2033, totaling US$7,412 million |  Future Market Insights Company

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
  • BPG Industries
  • Brady Worldwide, Inc
  • 3M Company
  • CCL Industries
  • Reliance Label Solutions Company
  • 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)

Future Market Insights, Inc. provides (ESOMAR Accredited, Stevie Award Winner and Member of the Greater New York Chamber of Commerce) Deep insights into the driving factors driving market demand. FMI is a leading global provider of market intelligence, advisory, consulting and events for the packaging, food and beverage, consumer, technology, healthcare, industrial and chemical markets. With an extensive team of more than 400 analysts worldwide, FMI provides global, regional and local expertise in diverse areas and industry trends across more than 110 countries.

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