GHS Label Market Forecast by Thermal Transfer and Pigmented Ink Jet Printing Technology for 2024 to 2034
GHS Label Market Outlook for 2024 to 2034
In the research analysis conducted by FMI, the updated figure for the 2024 valuation of the GHS label market is USD 1,668.4 million. The market is put forward to progress steadily through 2034, with a CAGR of 3.4%. The 2034 valuation of the market is estimated to be USD 2,330.7 million.
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GHS Label Market Size for 2024
USD 1,668.4 million
Projected Market Value by 2034
USD 2,330.7 million
Value-based CAGR of Market from 2024 to 2034
3.4%
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GHS Labels Demand Analysis
Manufacturers are procuring GHS labels with enhanced capability to withstand chemicals and other factory materials to meet the demand for tough labeling in industries.
GHS labels providing tracking capabilities are increasing the functionality of the product and leading demand for the product to go through multiple avenues.
Initiatives taken by governments in developing nations to promote the packaging, manufacturing, and chemical sectors are seeing the demand for GHS labels expand geographically.
With new research institutions popping up more frequently, the demand for GHS labels in service of research and institutional materials is increasing.
As exports of hazardous materials like chemicals and fertilizers increase, especially from Asian countries to the Western world, the demand for GHS labels to ensure smooth transport is soaring.
Trends in the GHS Label Market
The thriving chemical industry is set to bolster the demand for GHS labels, especially in Asian nations.
Industrialists are moving away from GHS labels made from traditional paper and embracing labels made from thermal paper for their heat-sensitive capabilities.
Customized GHS labels are gaining traction in the market, with various end-user industries like agriculture and chemicals having differing requirements regarding the printing on the label.
Integration of technology like RFID is making sure the labels stay relevant in industries where technology adoption is rapid.
Advancements in printing technology are enabling manufacturers to increase production of GHS labels and make the labels more readable.
Some countries, especially underdeveloped ones, have been slow to adopt GHS standards or have not adopted them at all. Thus, there are still areas left to explore for the market.
The presence of alternative standards for warning in labeling, such as the National Fire Protection Association (NFPA) and Hazardous Materials Identification System (HMIS), gives significant competition to GHS labels.
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Category-wise Outlook
Direct thermal paper leaves the foremost impression in the material segment. Thermal transfer is the predominant technology used in the making of GHS labels.
Thermal Transfer's Superior Text Printing Quality Uplifts Manufacturer Preference
Thermal transfer is expected to account for 35.4% of the market share in 2024. Some of the factors influencing the increase in demand for thermal transfer GHS labels are:
Thermal transfer’s ability to print highly readable text is endearing the process to manufacturers of GHS labels.
With barcodes’ importance rising in labeling, thermal transfer’s ability to print barcodes with improved clarity is informing the progress of printing technology.
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Top Printing Technology
Thermal Transfer
Market Share (2024)
63.4%
Manufacturers Incline toward Direct Thermal Paper for Its Exceptional Efficiency
Direct thermal paper is anticipated to account for 48.3% of the market share in 2024. Some of the reasons for the progress of direct thermal paper in the GHS label industry are:
Direct thermal paper is renowned for its fast printing capability, and thus, it is seeing greater adoption in the GHS label manufacturing process.
Cost-effective nature of the paper, with it requiring no ink cartridges, is easing the process of direct thermal paper adoption in GHS label manufacturing.
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Top Material
Direct Thermal Paper
Market Share (2024)
35.4%
Country-wise Analysis
The Asia Pacific is turning out to be a hotbed for the development of the packaging and labeling industries. The boost being given to manufacturing and chemical industries in the region through foreign investment and government schemes is also conducive to the market’s progress in the region.
Countries
CAGR (2024 to 2034)
India
4.5%
China
4.0%
Japan
3.9%
South Korea
3.7%
Thailand
4.0%
Medical Sector in India is Adopting GHS Labels for Hazardous Chemical Handling
The CAGR of the market in India for the forecast period is anticipated to be 4.5%. Some of the factors influencing the growth of the market in the country are:
Although GHS has not officially been adopted in India, Indian industrialists are incorporating labels into their units to better communicate the hazardous nature of goods to factory workers and consumers.
With Indian hospitals given more leeway for research due to increasing funding, hazardous materials are being brought in more frequently, necessitating the use of GHS labels.
Mandatory GHS Labeling in Chemical Materials is Bolstering the Market in China
The market is expected to register a CAGR of 4.0% in China through 2034. Some of the factors responsible for the growth of the market are:
In China, hazardous chemical materials are required to comply with rules and install safety warnings in the form of GHS labels.
GHS works in China with regulatory authorities like the National Registration Centre of Chemicals (NRCC) to ensure proper labeling and handling of hazardous materials.
Alignment of GHS Labels with Local Standards Allowing for Market Growth in Japan
The market is expected to progress at a CAGR of 3.9% in Japan for the forecast period. Some factors influencing the progress are:
Japanese Industrial Standards (JIS) have aligned themselves with GHS, thus ensuring the progress of GHS labels in the country.
Significant requirement in Japan for Japanese-language hazardous warnings is being satisfied by manufacturers by printing more GHS labels in the local language.
Laws Monitoring Hazardous Material are Paving the Way for GHS Labels in South Korea
The market is expected to progress at a CAGR of 3.7% in South Korea throughout the forecast period. Some factors influencing the progress are:
Laws like the South Korean Occupational Safety and Health Act (K-OSHA) are increasing the guidelines to follow for vendors of hazardous materials. GHS labels are one way through which the required information is communicated in the packaging of hazardous material.
With more chemical companies from the Western world making their way to South Korea, there is greater familiarity with GHS labels in the country’s chemical sector.
GHS Label Manufacturers in Thailand are Incorporating Emergency Contact Numbers
The market is expected to progress at a CAGR of 4.0% in Thailand. Some factors influencing the progress are:
With the adoption of GHS for chemical mixtures in Thailand in 2017, the GHS label has been on the path of progress.
Thai labels on hazardous materials are required to provide an emergency contact number, and thus, GHS label manufacturers are incorporating this feature in their products.
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Competitive Landscape in the GHS Label Market
Manufacturers are undertaking efforts to streamline the production process for fast turn-around times in the market. One of the market giants, Avery Dennison Corporation, is experimenting with various ink types and ribbon/printer combinations to improve the production process.
Another established company, PPG Industries Inc., is concentrated on providing GHS labels that are stern. Since the company supplies the label needs for several hazardous materials used in maritime, the company is manufacturing labels that can withstand tough conditions too.
Recent Developments in the GHS Label Market
In February 2024, Reliance Label Solutions launched the GHS L.A.B.E.L. Profile program. The program aims to help companies comply with and follow effective labeling practices.
In January 2023, South Australia adopted revision 7 of GHS, requiring complaint labels on hazardous materials.
In December 2022, Polysciences incorporated Epson ColorWorks’ printers as a way to aid its labeling capabilities and to make its GHS label printing process smoother.
In December 2020, Brandywine Drumlabels, LLC was acquired by Wausau Coated Products. Through this acquisition, the latter enhanced its footprint in the market.
