Global Safety Cabinets and Cans Market 2017-2021
About Safety Cabinets and Cans
The safe storage of materials that are perilous is an absolute necessity to ensure a hazard-free environment. Flammable and combustible liquids or chemicals if handled inappropriately or stored at an improper place can lead to severe hazards in the workplace. The storage of these hazardous materials in safety cabinets and cans will ensure:
Technavio Announces the Publication of its Research Report – Global Safety Cabinets and Cans Market 2017-2021
Technavio recognizes the following companies as the key players in the global safety cabinets and cans market: DENIOS, Eagle Manufacturing Company, ECOSAFE, and Justrite
Other Prominent Vendors in the market are: Complete Environmental Products, Jamco Products, Rötzmeier Sicherheitsbehälter, Safeway Products, SciMatCo, Strong Hold Products, and The Durham Manufacturing Company.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Global chemical industry witnessing mergers and acquisitions. The global chemical industry has witnessed a number of mergers and acquisitions, and most mega-mergers have witnessed closure in 2017 till date. Irrespective of being organic or inorganic, the expansion of companies through mergers and acquisitions is experiencing gratifications from investors and industry analysts in the market. For instance, on April 5, 2017, Quaker Chemical, a US-based specialty chemicals firm announced its merger with Houghton International, a US-based metalworking fluid firm after which the stock price increased by near about 7.2%.”
According to the report, one of the major drivers for this market is Increase in R&D investments with rising number of researchers. R&D is concerned with developing new processes, products, and technologies that can be used for the benefits of humanity. Over the last decade, the global spending on R&D has been rising. More than 80% of investments in R&D across the world has been contributed by the top ten countries, such as China, the US, the UK, and other countries in APAC and the Americas. In the forecast period, developing countries are expected to witness higher growth in terms of investments in R&D when compared with developed countries. This is due to the global economic recession of 2008, which impacted developed economies.
Further, the report states that one of the major factors hindering the growth of this market is High cost of R&D. R&D involves significant costs, and the inability of small and medium-sized firms, original equipment manufacturers, and distributors to meet expenses restricts the adoption and innovations of several technologies. As a result, costs incurred in R&D across industries and various economies are high.
DENIOS, Eagle Manufacturing Company, ECOSAFE, and Justrite, Complete Environmental Products, Jamco Products, Rötzmeier Sicherheitsbehälter, Safeway Products, SciMatCo, Strong Hold Products, and The Durham Manufacturing Company.