The global radioactive material packaging market was valued at $660.7 million in 2020, and is projected to reach $1,161.6 million by 2032, registering a CAGR of 5.1% from 2023 to 2032.
Radioactive material packaging is a term used to describe containers used to transport and store radioactive materials safely. Active material must be transported and stored with various levels of protection from the environment and from people because these substances have unstable atomic nuclei that undergo radioactive decay and release ionization radiation in the form of beta particles, gamma rays, and alpha particles. The packaging is designed to stop the release of radioactive materials and protect against the damaging effects of ionizing radiation.
Increase in use of high-value chemical containers will drive the growth of the radioactive material packaging business over the forecast period. Furthermore, the rapid expansion in trading operations involving bulk chemical products around the world will likely cause the market for bulk chemical packaging to gain traction in future years. For example, in August 2020, Sealed Air Corporation joined with Plastic Energy, a market leader in advanced recycling technology. In addition, Sealed Air has invested in Plastic Energy Global, the parent company of Plastic Energy. As a result, such commercial partnership has the potential to fuel the expansion of the radioactive material packaging market.
Moreover, during the annealing process, sulfur dioxide, nitrogen dioxide, and other air-polluting chemicals are released. High levels of these dangerous compounds have been linked to lung cancer, chronic bronchitis, asthma, and mucus discharge. Furthermore, particles generated during the last phases of container glass production are significantly more dangerous because they are smaller in size and can cause a range of health problems once they enter the respiratory system. These issues are expected to hinder market expansion during the estimated time range.
On the contrary, due to the government's severe laws and regulations, the industry is expected to see possibilities over the projection year. When transporting hazardous materials, goods carriers must have an identification label or mark that can be used. This will also contribute to safer transportation. Hazardous item packaging must meet safety criteria and norms. For example, each package carrying dangerous or hazardous substances must include a distinct class label. Tachographs, which record acceleration, time speed, and other vitals, must be placed on hazardous material cargo vehicles. During the projected period, this aspect is expected to give profitable prospects for the growth of the radioactive material packaging market.
The radioactive material packaging market is segmented into type, material, and product. The type in the study includes, type a, type b and others. Type b segment dominated the market in 2022. By material, the market is divided into drums, intermediate bulk containers (IBCs), pails, bottles and others. intermediate bulk containers (IBCs) segment dominated the market in 2022.
On the basis of material, the market is segmented into plastic, metal, and others. Metal segment dominated the market in 2022.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). In 2022, Europe region dominated the market in 2022.
Key companies profiled in the radioactive material packaging market report include, Strategic Packaging Systems, General Plastics, Croft Limited, Waste Control Systems (U.S.), Kvark Ltd., Air Sea Containers, Waste Control Systems, ATB Group S.p.A., Sosny Research and Development Company, and PerkinElmer.
Radioactive material packaging is a term used to describe containers used to transport and store radioactive materials safely. Active material must be transported and stored with various levels of protection from the environment and from people because these substances have unstable atomic nuclei that undergo radioactive decay and release ionization radiation in the form of beta particles, gamma rays, and alpha particles. The packaging is designed to stop the release of radioactive materials and protect against the damaging effects of ionizing radiation.
Increase in use of high-value chemical containers will drive the growth of the radioactive material packaging business over the forecast period. Furthermore, the rapid expansion in trading operations involving bulk chemical products around the world will likely cause the market for bulk chemical packaging to gain traction in future years. For example, in August 2020, Sealed Air Corporation joined with Plastic Energy, a market leader in advanced recycling technology. In addition, Sealed Air has invested in Plastic Energy Global, the parent company of Plastic Energy. As a result, such commercial partnership has the potential to fuel the expansion of the radioactive material packaging market.
Moreover, during the annealing process, sulfur dioxide, nitrogen dioxide, and other air-polluting chemicals are released. High levels of these dangerous compounds have been linked to lung cancer, chronic bronchitis, asthma, and mucus discharge. Furthermore, particles generated during the last phases of container glass production are significantly more dangerous because they are smaller in size and can cause a range of health problems once they enter the respiratory system. These issues are expected to hinder market expansion during the estimated time range.
On the contrary, due to the government's severe laws and regulations, the industry is expected to see possibilities over the projection year. When transporting hazardous materials, goods carriers must have an identification label or mark that can be used. This will also contribute to safer transportation. Hazardous item packaging must meet safety criteria and norms. For example, each package carrying dangerous or hazardous substances must include a distinct class label. Tachographs, which record acceleration, time speed, and other vitals, must be placed on hazardous material cargo vehicles. During the projected period, this aspect is expected to give profitable prospects for the growth of the radioactive material packaging market.
The radioactive material packaging market is segmented into type, material, and product. The type in the study includes, type a, type b and others. Type b segment dominated the market in 2022. By material, the market is divided into drums, intermediate bulk containers (IBCs), pails, bottles and others. intermediate bulk containers (IBCs) segment dominated the market in 2022.
On the basis of material, the market is segmented into plastic, metal, and others. Metal segment dominated the market in 2022.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). In 2022, Europe region dominated the market in 2022.
Competition Analysis
Key companies profiled in the radioactive material packaging market report include, Strategic Packaging Systems, General Plastics, Croft Limited, Waste Control Systems (U.S.), Kvark Ltd., Air Sea Containers, Waste Control Systems, ATB Group S.p.A., Sosny Research and Development Company, and PerkinElmer.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radioactive material packaging market analysis from 2020 to 2032 to identify the prevailing radioactive material packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the radioactive material packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global radioactive material packaging market trends, key players, market segments, application areas, and market growth strategies.
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- Analysis of raw material in a product (by %)
- Go To Market Strategy
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Average Selling Price Analysis / Price Point Analysis
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Import Export Analysis/Data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- List of customers/consumers/raw material suppliers- value chain analysis
- Market share analysis of players at global/region/country level
- Per Capita Consumption Trends
- Product Consumption Analysis
- Reimbursement Scenario
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Type
- Type A
- Type B
- Others
By Product
- Bottles
- Others
- Drums
- Intermediate bulk containers (IBCs)
- Pails
By Material
- Plastic
- Metal
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin Amercia
- Middle East
- Africa
- Key Market Players
- Croft Limited
- Waste Control Systems
- ATB Group S.p.A.
- Kvark Ltd.
- Waste Control Systems
- Strategic Packaging Systems LLC
- General Plastics
- Air Sea Containers
- Sosny Research and Development Company
- PerkinElmer
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RADIOACTIVE MATERIAL PACKAGING MARKET, BY TYPE
CHAPTER 5: RADIOACTIVE MATERIAL PACKAGING MARKET, BY PRODUCT
CHAPTER 6: RADIOACTIVE MATERIAL PACKAGING MARKET, BY MATERIAL
CHAPTER 7: RADIOACTIVE MATERIAL PACKAGING MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the radioactive material packaging market was valued at $660.69 million in 2020, and is estimated to reach $1.2 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.The phrase"radioactive material packaging" refers to the safe storage and transportation of radioactive materials in their respective containers. Because these compounds have unstable atomic nuclei that undergo radioactive decay and release ionizing radiation in the form of beta particles, gamma rays, and alpha particles, they require different levels of protection from the environment and from people when being transported and stored. The packaging is made to prevent radioactive material leakage and safeguard against the harmful effects of ionizing radiation.
Owing to the convenience of storage and transit, as well as customer preference for safe and secure packaging, packaging is becoming an essential part of modern life. For the protection and transportation of chemical goods, intelligent packaging solutions, such as hazardous chemicals packaging, are highly sought-after. Manufacturers of chemical packaging offer a range of choices for storing dangerous chemicals, including IBCs, drums, and bins. To achieve long-term outcomes, businesses are also investing in creative packaging techniques. For instance, Mauser Packaging Solutions purchased Global Tank Srl in Italy in April 2021 via the NCG-Maider Joint Venture. With this acquisition, Mauser Packaging Solutions hopes to increase the amount of industrial packaging products and services it offers to the Italian market while also strengthening its position as the world's top reconditioning company. As a result, such acquisitions and business plans have the potential to fuel the expansion of the radioactive material packaging market.
However, Sulfur dioxide, nitrogen dioxide, and other air-polluting substances are emitted during the annealing procedure. Lung cancer, chronic bronchitis, asthma, and mucus production have all been related to high concentrations of these harmful substances. Furthermore, due to their smaller size and potential for causing a variety of health issues once they enter the respiratory system, particles created during the latter stages of container glass manufacture are substantially more harmful. During the anticipated time frame, these problems are going to hinder market expansion.
Furthermore, several commodities, including construction material, oil, and gas, saw a surge in price due to the Russia-Ukraine conflict. Due to supply chain interruptions, there are now more expensive shipping costs, fewer available containers, and less warehouse space. Since there have been delays in shipments and congestion, certain ports have been closed, and orders are being retracted, which influences industry and consumers globally. The decline in investor confidence has also increased stock market volatility. Economic instability has risen due to the strained commercial ties between Russia, Ukraine, and their different trading partners. Hence, all such factors have reduced export possibilities.
In addition to the government's strict laws and regulations, the industry will have a lot of opportunities throughout the projection year. Goods carriers must have the proper identifying label or mark that can be used while carrying radioactive material items. Additionally, this will make transportation safer. Items containing radioactive material must be packaged in accordance with safety regulations and standards. An individual class label, for instance, is required for each box carrying a risky or hazardous substance. On freight vehicles carrying radioactive goods, tachographs must be installed. These devices detect acceleration, time speed, and other vitals. Due to the safer transportation of hazardous goods made possible by such norms, the market for radioactive material packaging is projected to grow.
IBCs are eco-friendly packaging due to their usability and recyclable nature is expected to boost the growth of the market.
The radioactive material packaging market is segmented into material, product, and types. The material in the study includes plastic, metal, and others. Based on product, the market is divided into drums, intermediate bulk containers (IBCs), pails, bottles and others. Based on types, the market is divided into type A, type B and others.
By region, the radioactive material packaging market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key companies profiled in the radioactive material packaging market report include Strategic Packaging Systems, General Plastics, Croft Limited, Waste Control Systems(U.S.), Kvark Ltd., Air Sea Containers, Waste Control Systems, ATB Group S.p.A., Sosny Research and Development Company, and PerkinElmer.
Key Findings of the Study
The report provides an extensive analysis of the current and emerging trends and dynamics.By product, the Intermediate bulk containers (IBCs) segment was the largest revenue generator in 2022.
By material, the Metal segment generated the highest revenue in 2022.
By type, type A segment generated the highest revenue in 2022.
Region-wise, Europe is anticipated to dominate the market throughout the study period.
Companies Mentioned
- Croft Limited
- Waste Control Systems
- ATB Group S.p.A.
- Kvark Ltd.
- Waste Control Systems
- Strategic Packaging Systems LLC
- General Plastics
- Air Sea Containers
- Sosny Research and Development Company
- PerkinElmer
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | September 2023 |
| Forecast Period | 2020 - 2032 |
| Estimated Market Value ( USD | $ 660.7 million |
| Forecasted Market Value ( USD | $ 1161.6 million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
