PRESS RELEASE

Globalization and cross-border trade among countries to drive the growth of the Global Safety Data Sheet (SDS) Management Market in the forecasted period from 2020-2026

Published Date | 2020 February 2

Safety Data Sheets provide comprehensive information about a mixture or substance for use in workplace chemical management. A Safety Datasheet management market includes products such as documents having a list of information relating to occupational safety and health for various substances and products. SDSs are a systematically used system for cataloging information on chemical compounds and chemical mixtures. SDS information may undertake instructions for the safe use and potential hazards associated with a particular material or product along with spill-handling procedures. Rising consumer population, occupation setting for hazardous materials, health awareness, need for physio-chemical substances, and environmental risk are few factors driving the growth of the global safety datasheet management market.

Rising consumer population and health awareness to drive the growth of the Global Safety Data Sheet (SDS) Management Market

Workplace Hazardous Material Information system, which is operational in few regions, establishes the requirements for SDSs in workplaces and is administered federally by governing bodies. The development of such a policy has been propelling the growth of the market for the last decade. Safety data sheets have been made as an integral part of the system of regulation by the government in major regions, and several key manufacturers have adopted the original requirements of the safety data sheet as an integral part of the Global Harmonized System (GHS). The implementation of EU legislation that was introduced to support the global safety datasheet management market has fuelled the expansion process for the market.

Additionally, globalization and cross-border trade among countries, the detrimental effects of hazardous trade, the quantity of hazardous material crossing international borders amplified. the united nations established a committee of experts specializing in the transportation of hazardous goods have been few factors influencing the market dynamics of the global safety data sheet management market. The presence of various regulating bodies such as International Maritime Organization (IMO), International Civil Aviation Organization (ICAO) and Air Transport Association (IATA) has been supporting the growth of the Global Safety Data Sheet (SDS) Management Market.

Material safety data sheet market segment to contribute the largest share to the Global Safety Data Sheet (SDS) Management Market in the forecasted period

On the basis of Type, the Global Safety Data Sheet (SDS) Management Market can be classified as Material Safety Data Sheet and Extended Safety Data Sheet. On the basis of Application, the Global Safety Data Sheet (SDS) Management Market can be segregated as Manufacturers, Distributors, and Corporate Users. In 2020, the material safety datasheet market segment contributed the largest share to the Global Safety Data Sheet (SDS) Management Market and is expected to show robust growth in the forecasted period. The growth of the segment can be attributed to factors such as Rising consumer population, occupation setting for hazardous materials, health awareness, need for physio-chemical substances, and environmental risk.

United States accounted for the largest share in the Global Safety Data Sheet (SDS) Management Market in 2019

United States, Europe, and Asia-Pacific are key regions where the presence of the Global Safety Data Sheet (SDS) Management Market can be witnessed. United States has contributed the largest in the Global Safety Data Sheet (SDS) Management Market in 2019. The growth of the region can be attributed to factors such as the presence of key market players in the region and government support. Asia-Pacific is another key region where the presence of the Global Safety Data Sheet (SDS) Management Market can be highly witnessed. The region has been emerging as a key area for the market owing to factors such as the implementation of chemical product manufacturing safety regulations by the government, emerging manufactures in the region and trade policies for transfer of chemical products across neighboring countries.

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