All substances possess various physical and chemical properties. Physical properties can be the mass, density, flammability, explosive nature, and even radioactivity of a substance. Chemical properties can be related to the incompatibility or compatibility with other substances through their reactivity. Common reactions include addition and reduction, but can be much more complex. Many products of chemical reactions can be harmful to human health and that of the environment which is why it is important to understand all aspects of a chemical or substance's physical and chemical properties before using it or disposing of it.
For example, many solvents like isopropyl alcohol are highly flammable and should be stored in containers that are fireproof. Large quantities in drums should be stored in a room that keeps the drums protected from the elements, and the drums should be grounded to direct static or other forms of electrical charge away from the containers so that the material inside does not ignite.
Also, cans that hold contents under pressure are of high concern when dealing with storage environments. All cans containing substances that vaporize at low temperatures (lower than ambient air temperature) should be stored in temperature and climate controlled environments. This is because if the temperature gets too high, the contents of the container will rapidly vaporize and condense throughout the course of the day if it gets hot and cold. This weakens the integrity of the storage container and can cause it to crack or rupture and the material inside will then escape either as a gas, liquid, or semisolid. Even if the container does not undergo this variety of stress, if it is stored in an environment that is simply too hot and causes the material within to vaporize, it can cause an explosion of the container which is highly dangerous. Hazards such as this, as I have stated, are common with highly volatile substances such as solvents.
In the event that a container for a gas or liquid does rupture, the physical hazards can compile on themselves. First you have the initial hazard regarding the rupture of the container and release of the substance within. If nobody is harmed by the rupturing process, the exposure to gases can cause serious physical harm by asphyxiation, or even contact. In the event that a heavier than air gas like propane is discharged in high volumes to a confined space, it will displace all oxygen and the people within that space my suffocate or at least pass out from lack of oxygen in the lungs. If the container held a reactive acid, the physical hazards can be severe in that they can lead to chemical burns, and also through chemical reactivity, heat can be generated which, if not dissipated, can cause heat stress in a small, localized environment.
On the subject of reactivity, if an acid that is not contained properly leaks into a storage unit, or even onto the floor of a facility, sometimes drastic consequences can arise. In the case of sulfuric acid mixed with water, incredible amounts of heat arise. Also, if some amounts of fluorine react with water, you can get hydrofluoric acid which can chew its way through a plethora of materials, including human skin in a matter of seconds.
The best way to protect yourself and your company is to thoroughly understand the physical and chemical properties of substances and materials so that you can properly store, use, and dispose of them without causing harm.
http://chemed.chem.purdue.edu/genchem/topicreview/bp/ch11/acidbase.php
http://antoine.frostburg.edu/chem/senese/101/thermo/faq/always-add-acid.shtml
http://environmentalchemistry.com/yogi/hazmat/articles/explosives.html