NEW YORK, Oct. 13, 2016 /PRNewswire/ -- "Growing demand in the parent industries to propel the market for industrial labels"
The global market for industrial labels is projected to grow from USD 43.04 billion in 2016 to reach USD 55.95 billion by 2021, at an estimated CAGR of 5.39%. The market for industrial labels is driven by the growing demand in industries such as automotive, manufacturing, construction, aerospace & defense, and marine, in both developed and developing countries. Industrial labels have become a promising media to convey the necessary product-related information such as the product's origin, shelf life, disposal, and others to end consumers and to enhance the visibility of products in the marketplace to gain an edge over other products in the same category. The laser engraving labels mechanism possesses potential restraints in the industrial labels market.
"Warning/ security labels segment is projected to grow at a healthy CAGR during the forecast period"
The warning/security labels segment is projected to be the fastest-growing industrial labels type in this market in the next five years. The warning/security labels are highly preferred at a variety of industrial sites to convey the below information:
- Signal/pictorial symbols to attract attention to the warning
- Identification of the risks/hazards involved
- Explanation of consequences in the case of emergency
- Directives to avoid the risks involved
- Hot-to-use information
"Asia-Pacific to be the fastest-growing market during the forecast period"
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Europe, from 2016 to 2021. China accounted for the largest consumption of industrial labels, followed by Japan in 2015. The key reasons behind the growth in the Asia-Pacific region are emerging economies, government initiatives for FDI, growing awareness of industrial labels, and, most importantly, the increasing trends in end-use industries such as construction, automotive, consumer durables, and many more. In the European region, Germany is the largest consumer of industrial labels because of the excellent hold on the automotive industry.
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier1 – 41%, Tier 2 – 17%, and Tier 3 – 42%
By Designation: C-level – 48%, Manager Level – 32%, and Others – 20%
By Region: North America – 44%, Europe – 19%, Asia-Pacific – 28%, and RoW – 9%
Note: The tier of the companies is defined on the basis of their total revenue, as of 2014. Tier 1: Revenue >USD 500 million, Tier 2: Revenue USD 100 to 500 million, and Tier 3: Revenue
The various suppliers of industrial labels profiled in the report are:
1. E. I. du Pont de Nemours and Company (DuPont) (U.S.)
2. CCL Industries Inc. (Canada)
3. Avery Dennison Corporation (U.S.)
4. Brady Corporation (U.S.)
5. Cenveo Corporation (U.S.)
6. DUNMORE (U.S.)
7. Henkel Ag & Co. KGaA (Germany)
8. H.B. Fuller Co. (U.S.)
9. 3M (U.S.)
10. Fuji Seal International, Inc. (Japan)
This market is segmented on the basis of type, end-use industry, material, printing technology, mechanism, identification technology, and region. In terms of type, warning/ security labels held the largest market share, in terms of value. It is projected to grow at the highest CAGR. The excellent growth is witnessed due to increasing demand of these labels in end-use industries such as construction, automotive, consumer durables, and transportation & logistics. The transportation & logistics segment is projected to grow at the highest rate due to the increasing trends in the supply chain & warehousing industry and online shopping ability of consumers.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the industrial labels market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business.
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