Reagent Storage Cabinets Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030

Reagent Storage Cabinets Market: Introduction

• Reagent storage cabinets are chemical storage cabinets which can safely store small amounts of chemical substances for regular use within a work place or laboratory. These storage cabinets are made from materials that are resistant to the chemicals stored and it contains a tray to collect spillage. Reagent storage cabinets are suitable for specific classes of chemicals. Some cabinets consist of corrosion resistant materials and sealing to prevent leakage of fumes. Flammable solvent cabinets are made from metal or wood to resist fire for some time. These cabinets are designed to store corrosive and oxidizing liquids. Wooden cabinets are recommendable to store corrosives as its laminates provide high level of chemical durability.

Key Drivers of the Global Reagent Storage Cabinets Market

• Increasing number of education research laboratories and growing food & chemical industry are factors boosting the demand for specialty laboratory cabinets. Rising demand for reagents or chemical substances due to the growth of pharmaceutical, packaging, and food & beverage industries leads to the increasing adoption of reagent storage cabinets. Chemicals are used as raw materials or intermediate products in industries for the production of materials such as plastics, chemical fertilizers, and synthetic rubber. This is expected to expand the reagent storage cabinets market globally.
• The trend of increasing expenditure on research and development with constant emphasis on knowledge expansion and innovation results in increasing research and testing facilities. Additionally, the increasing adoption of automation in laboratories for sample preparation, storage, and movement of sample & equipment leads to cost savings. Hence, automation in labs allows efficient workflow and minimizes errors and contamination that helps to boost the demand for reagent storage cabinets.

Factor Restraining the Global Reagent Storage Cabinets Market

• Volatility in steel prices can hamper the growth of the reagent storage cabinets market.

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Market in Asia Pacific to Expand Rapidly

• In terms of geography, the global reagent storage cabinets market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
• North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the reagent storage cabinets market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the reagent storage cabinets market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America reagent storage cabinets market is segmented into Brazil, and Rest of South America.
• North America accounted for largest share of the global reagent storage cabinets market due to the expansion of the chemical sector, and research & development in the region. Laboratories require storage cabinets to keep hazardous chemicals safely and several companies are providing customized storage cabinets which propels the growth of the reagent storage cabinet market in the region.
• The reagent storage cabinets market in Asia Pacific is projected to expand rapidly during the forecast period due to the rapid expansion of the chemical industry in the region. The chemical industry is the backbone of India’s agriculture and industrial development that propels the demand for reagent storage cabinets. This is expected to drive the reagent storage cabinets market in the region.

Key Players Operating in the Global Market

Companies in the reagent storage cabinets market are focusing on becoming more proficient and developing innovative features. Companies are providing reagent storage cabinets with unique features - eliminating inhalation of noxious or hazardous vapors while opening, and cabinets are designed with separate compartments to accommodate different types of chemicals. Enhancement in product portfolio helps in strengthening competitive advantage and also expands market share of companies globally.

A few of the key players operating in the global reagent storage cabinets market are:

• Thermo Fisher Scientific
• Guang Zhou Han Yu Laboratory Equipment Co., LTD
• asecos GmbH
• Labonics Systems Ltd
• Kewaunee Scientific Corporation
• Labconco
• SAMIN SCIENCE CO., LTD
• Shuttleworth Medical Ltd
• Spectrum Chemical Manufacturing Corp.
• Questron Technologies Corp.

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Global Reagent Storage Cabinets Market: Research Scope

Global Reagent Storage Cabinets Market, by Type

• Hazardous Reagent Cabinets
• General Reagent Cabinets

Global Reagent Storage Cabinets Market, by Material

• Steel
• Wood
• Glass
• Laminate
• Others (Polypropylene, Phenolic, etc.)

Global Reagent Storage Cabinets Market, by Application

• Chemical Industry
• Food industry
• Education and Research
• Environmental Testing Industry
• Material Science/Nanotechnology

Global Reagent Storage Cabinets Market, by Distribution Channel

• Online
  • E-commerce Portal
  • Company Owned Portal
• Offline
  • Large Format Stores
  • Departmental Stores
  • Others (Small Stores, etc.)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.