The global SDS management market is anticipated to grow at a significant CAGR of 6.2% during the forecast period (2022-2028). SDSs are a standardized method of cataloguing information about chemical substances and mixtures. Rising industrial application of hazardous materials, growing health awareness, high demand for physio-chemical compounds, and rising concerns for environmental risk are few of the factors driving the global SDS management market forward. Furthermore, the companies can translate the SDS into any relevant languages to ensure that all employees are aware of the information and as a result, all raw materials linked to hazardous end products must have their SDSs provided by chemical producers, which in turn boosts the market growth.
The innovative products launched by the market players in the market are helping the businesses, which increases its demand in the market. SafeTec Essentials, a product offered by SafeTec, is designed to assist small and medium-sized businesses in meeting Occupational Safety and Health Administration (OSHA) compliance regulations by providing SDS management and training resources.
The Workplace Hazardous Material Information System, which is currently in use in a few regions, specifies the requirements for SDSs in the workplace and is overseen by government agencies. The development of such a system has also fueled the market’s expansion. Governments in major regions and numerous prominent manufacturers have adopted the original requirements of the SDSs as an integral part of the Global Harmonized System (GHS).
The growth of the market has been also fuelled by the passage of EU regulations designed to help the global SDS management market. The United Nations has also established a committee of specialists specialising in the transportation of hazardous commodities. Additionally, the presence of several regulating bodies such as the International Maritime Organization (IMO), International Civil Aviation Organization (ICAO), and International Air Transport Association (IATA) has aided the opportunities for growth of the market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Safetec of America, Inc.,ERA Environmental Management Solutions, Verisk 3E, Cloud SDS Management, and Sphera, among others.
A full report Safety Data Sheet (SDS) Management Market of is available at: https://orionmarketreports.com/safety-data-sheet-sds-management-market/108688/
Global SDS Management Market Report by Segment
By Type
- Material Safety Data Sheet (MSDS) Management
- Extended Safety Data Sheet (eSDS) Management
By Application
- Manufacturers
- Distributors
- Corporate Users
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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