Status : Published Published On : Sep, 2022 Report Code : VRCH2001 Industry : Chemicals & Materials Available Format : Page : 170
2022
2030

Global Coding and Marking Systems Market – Analysis and Forecast (2022 - 2030)
Industry Insights by Technology (Continuous Inkjet, Thermal Ink Jet, Print & Apply Labelers, Thermal Transfer Overprinting, Laser Coding and Marking, Drop on Demand, and Valve Jet & Hot Melt Inkjet), by End User (Food & Beverage, Automotive & Aerospace, Electrical & Electronics, Healthcare, Chemical, and Others)

Industry Overview

The global market for coding and marking systems is US$3.6 billion in 2021 and is anticipated to reach US$ 8.8 billion by 2030, During the projected period it is expected to develop a strong CAGR of 5.86% . However, the primary cause of this would be the industry's explosive development in pharmaceutical and food & beverage industry, where these devices are required by law. As a result of global economy expansion, there is a growing demand for packaged foods and beverages, which is driving up the price of coding and marking systems.

The global coding & marking market is continuously expanding as a result of the global packaging industry's consistent 5% annual growth rate. The demand for coding and marking solutions is on the rise due to rising cases of product counterfeiting and government rules requiring the printing of product-specific information on packets.

Covid-19 Impact

The pandemic outbreak severely has impacted the coding and marking systems because of worldwide lockdown, shutdowns and interruptions in global supply chain management. This threatening epidemic has jeopardized every production procedure in the market for coding and marking systems.

Manufacturers are struggling to recover from their losses by using advance trends and technology in this market of coding and marking systems. They are focusing on providing environmentally friendly solutions in order to address the growing demand from a variety of end-use sectors, including the food and packaging industries. In addition to looking for new opportunities to address market challenges with coding and labeling systems, manufacturers are striving to make up losses brought on by the COVID-19 epidemic.

Market Segment

Insight by Technology

The global coding and marking systems are divided based on technology into coding printers, including Laser, PALM valve jet(PVJ), hot melt inkjet(HMJ), continuous inkjet(CIJ), thermal inkjet (TIJ), print and apply labelers, thermal transfer overprinting, laser coding and marking, and print and apply labelers.

CIJ technology is extensively used among all technology due to its abundance of installation. Thermal transfer printers are anticipated to experience the fastest growth throughout the forecast period, and this technology is also projected to create the highest revenue during the estimated time.

The laser segment was second in 2021, with a nearly 40% share of the global market, after the CIJ segment. During the projected period, market share gains in the coding and marking technology sectors for laser and TIJ are anticipated. The laser technology has no consumables like ink and expected to grow by CAGR 9% during the forecast period.

Insight by Product Mix

On the basis of product mix the market of coding and marking systems is bifurcated into printer ink cartridges, toner cartridge, Viskoflex, paints, surface viral cleaner and other pertinent product mix. The consumables market of coding and marking system had the sale of 45% of all market sales in 2021. During the COVID-19 Pandemic, the global coding and marking market for consumables saw an increase in demand due to the enormous need for ink and other consumables from the healthcare, food, and beverage sectors.

Insight by End User

The coding and marking systems market on the basis of end user is bifurcated into F&B, Pharmaceutical, Construction, Personal & Homecare, Electrical & Electronics, Automotive, Chemical & Fertilizers and others. Post covid-19 coding and marking systems market is dominated by F&B and pharmaceutical end-user and F&B sector is anticipated to have the highest share during the projection period. The reason behind it is the coding and marking on all consumables and healthcare products has become mandatory by the law also.

Additionally demographics, rising investment, stringent government restrictions, and a move toward urbanization also impact on the market growth. The growth of end-user industries is also being fueled by a number of additional factors, such as shifting consumer preferences regarding product consumption, rising demand for sustainable packaging, rising demand for attractive packaging, and more. These factors ultimately increase the demand for coding and marking in the global market.  

Industry Dynamics

Growth Drivers

The primary growth drivers of global coding and marking system are the expansion in retail market and rising demand for FMCG products. Global coding and marking systems are expanding all around the world as a result of increased regulatory pressures from governmental organizations to meet market-specific industrial standards. It has been noted that the current market for environmentally friendly marking systems is expanding as a result of the launch of numerous marking tools made of biodegradable resin.

Automotive industry is also one of the prominent growth drivers of coding and marking system. This industry prevent the sale of counterfeit component and frequently uses coding and marking systems to code part numbers or anti-counterfeit labels on vehicle machinery.

Moreover, environment friendly coding technology plays the vital growth driver role uplift the coding and marking sector.  Manufacturers of coding and marking systems are required to reduce the use of hazardous solvents like methyl ethyl ketone (MEK), which lower the content of volatile organic compounds and prevent smearing, as a result of the regulations of the Hazardous Substances Directive (RoHS) and the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) committee.

Challenges

Coding and marking devices are tending to be very expensive. So, coding and marking systems installation into place is challenging. All supply chain participants, especially the smaller companies, might not have the financial means to set up the infrastructure necessary to adopt coding and marking systems. Therefore, it is anticipated that the market's expansion over the forecast period will be constrained by the high cost associated with the coding and marking equipment.

This market study on coding and marking systems includes information on recent developments, trade laws, import-export analysis, production analysis, value chain optimization, market share, and the effects of domestic and local market participants. It also analyses opportunities for new revenue streams, regulatory changes, market size, category market expansions, application niches and dominance, product approvals, and product launches.

Opportunities

Government norms and increase product innovation has made to opportunity for coding and marking system to grow.  The government norms all across the globe mandate the marking on F&B and pharmaceutical products. Because of the government's stringent regulations, end users are now adopting coding and marking systems to guarantee accurate labeling of the produced goods

The market's growth rate is also impacted by the rising number of product innovations. Market expansion is also aided by various product developments aimed at enhancing design and production procedures. Manufacturers are developing products that are more reliable, efficient, and practical.

Industry Ecosystem

Industry players throughout the world are taking advantage of market expansion by technological advancement in coding systems, innovation to adjust with constantly shifting market dynamics, and becoming more pragmatic in their approach. The major players in this sector are upgrading their machinery with new features like touchscreens, increased productivity, and visible ink containers to improve and optimize the manufacturing process.

Industry news & Update

  • In the United States, the market for coding and marking systems and solutions is anticipated to reach US$783.1 Million in 2022. China, the second-largest economy in the world, is anticipated to have a market worth US$680.3 million by 2026, growing at a 7.3% CAGR throughout the study period.
  • The desire for quicker-drying and better-adhering inks is still present in thermal inkjet technology. Thermal inkjet is the best printing technology for printing on masks in a production line due to its high resolution capabilities and modern ink kinds. The United States, Canada, Japan, China, and Europe are expected to fuel the segment's predicted 5.9% CAGR.

Geographical overview

With a revenue share of more than 32%, North America dominated the market for coding and marking equipment in 2020. The pharmaceutical and healthcare sector in North America can be defined as mature since multiple market leaders make significant investments in R&D to create new products and treatments. The U.S. is renowned for the strict laws it has created to oversee its food, pharmaceutical, and healthcare industries in order to prevent the sale of any potential fake goods. As a result, businesses in the area, particularly those in the pharmaceutical industry, are placing a high priority on establishing coding and marking systems, which is causing the regional market to expand.

Over the course of the projected period, Asia Pacific is anticipated to become the region with the quickest rate of growth. Emerging economies like India and China are located in the Asia Pacific region. India's packaging sector is expanding quickly, and Indian packaging firms are vigorously inventing their packaging strategies to support the expansion of the local market. On the other hand, China is a significant producer of printer ink, which is good news for the expansion of the local market.

Competitive Insight

The global market for coding and marking is incredibly fragmented. On the one hand, there are global companies offering coding and marking tools with excellent functionality and aesthetics. Danaher, Dover, Brother Industries (Domino Printing Sciences), Hitachi Industrial Equipment Systems, and ITW are the market's top five competitors (Diagraph). These businesses are all present on a worldwide scale in at least three significant geographic areas: North America, APAC, and Europe. Local suppliers, however, offer goods with comparable standards for less money. The cost of the CIJ systems offered by local suppliers is 6-7% less than the cost of those offered by foreign vendors.

Global Coding and Marking Systems Market

Frequently Asked Questions

On the basis of technology, the global coding and marking systems is segmented into continuous inkjet, thermal inkjet, print & apply labelers, thermal transfer overprinting, laser coding and marking, drop on demand, and valve jet & hot melt inkjet.
Globally industry players are leveraging market growth through technological upgradation in coding systems, innovation to adapt with ever changing market dynamics and becoming more realistic in its approach.
The increasing retail sector and enhancing demand for FMCG offerings is the major factor contributing towards the growth of coding and marking systems globally.
Some of the major players operating in the coding and marking systems industry are ATD Marking Systems, Danaher Corporation, Inkjet Inc, ID Technology, Hitachi Ltd, Diagraph Group, Matthews International Corporation, Dover Corporation, Overprint Packaging Ltd., and Domino Printing Sciences plc.
Global coding and marking systems market is expected to witness a CAGR of 7.0% during 2018�2024

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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