The APAC coding and marking ink market in APAC is expected to grow at a CAGR of over 6% during the period 2019-2025
NEW YORK, April 15, 2020 /PRNewswire/ -- In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this APAC Coding and Marking Ink Market Report
Read the full report: https://www.reportlinker.com/p05882096/?utm_source=PRN
The APAC coding and marking ink market in APAC is expected to grow at a CAGR of over 6% during the period 2019–2025.
The following factors that are expected to contribute to the growth of the APAC coding and inking market during the forecast period:
• Implementation of Eco-Friendly Coding and Marking Process
• Rise in Product Counterfeiting
• Regulatory Landscapes Driving Ink Modifications
• High Applicability across End-user Industries
Any change in the product packaging market is bound to affect coding and marking solutions. As the APAC region is witnessing rapid urbanization and industrialization, a few factors expecting to drive the APAC coding and marking ink market include the growing retail industry, rapid expansion in the food and beverage industry, and strict government regulations on the use of eco-friendly coding and marking ink solutions. With advances in packaging technology, manufacturers are emphasizing on the implementation of sustainable solutions, which include the usage of environment-friendly inks. The APAC region hosts some of the most robust manufacturing industries, including automotive, construction, chemicals, defense, and aerospace. While Japan and China are the major markets for coding and marking ink, countries such as India are expected to witness high demand due to improving quality of life. However, the consumer market has taken a major hit with the outbreak of COVID19. Several packaged and canned food & beverage manufacturers are significantly affected by the pandemic. The impact of coronavirus is anticipated to cause disruptions in the supply chain of manufacturing and industrial sectors, thereby causing the weakening of import and export of goods and services in different regions of the world.
The study considers the present scenario of the APAC coding and marking ink market and its dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the market.
APAC Coding And Marking Ink Market: Segmentation
This research report includes detailed market segmentation by product, cartridge, end-users, and geography. The water-based ink segment is likely to witness growth on account of their durability and profound usage in concert tickets, product packaging, flexible packaging, and lottery tickets segments. Water-based inks have large applicability for printing texts, barcodes, dates, and logos. These are majorly used in several printing processes and several application segments due to the introduction of new additives and advanced printing techniques. Water-based inks have further witnessed a considerable rise in demand on account of their growth in popularity of Drop on Demand (DoD) printing.
Oil-based inks are commonly used for package printing, signage, and marking and coding of products. The oil-based coding and marking ink segment is expected to witness a slight decline by 2025. Oil-based solutions are considerably low-maintenance, dependable inks, which offer both consistency and flexibility on porous substrates. They are the most popular product types in the coding and marking ink market across the globe. Food & beverages, consumer electronics, cosmetics, and pharmaceuticals are witnessing an increase in demand for oil-based inks. Vendors are consistently emphasizing innovative printing options to deliver high-quality coding and marking solutions.
In terms of revenue, the other cartridges segment is expected to emerge as the largest revenue contributor by 2025. Other cartridge manufacturers are engaged in offering flexible solutions to cater to the changing requirements of customers. They also provide cartridges, which deliver superior and excellent image quality and adhere to rigorous regulatory standards. HP cartridges are observing high adoption as their material is recyclable, hence increasing environmental feasibility. The market share of HP cartridges in China is expected to reach over $17 million by 2025. With enterprises in the region focusing on tracking the complete product life cycle, and supply chain, keeping abreast with the trends of QR codes, along with offering the digital experiences to its clients, China is expected to bolster the demand for coding and marking solutions.
FUNAI's inkjet cartridges are robust and offer leading-edge printing solutions. These cartridges offer ease of maintenance (disposable) and provide high-speed printing with long throw distance. The demand for these solutions in Japan is expected to increase with the expansion of food & beverage, pharmaceutical, and consumer electronics industries. The increasing traceability of products in these verticals is further expected to boost the sale of these solutions. However, supply chain processes of nearly half of companies in Japan have been negatively impacted due to the outbreak of coronavirus, thereby affecting the overall product coding and marking solutions demand.
Consumers of food products, wines, spirits, and beers increasingly need to be protected from forged products. Regulatory bodies in the region are emphasizing tackling counterfeiting by introducing stringent legislative measures and incorporating sophisticated systems for tracing and tracking products at the micro-level. The implementation of these stringent regulations is expected to create a favorable impact on modern coding and marking equipment or solutions in the food & beverage industry. The growth in the Indian food and beverage industry is expected to influence market growth. Continuous Inkjet Printers are gaining significant traction in the market. Besides, laser printers are also anticipated to witness considerable growth in demand. With the rise in the counterfeiting challenge, the demand for coding and marking inks is expected to witness a substantial rise during the forecast period. However, with the outbreak of coronavirus, the Indian economy is expected to be severely impacted.
Changes in the pharmaceutical industry research and manufacturing technologies are anticipated to impact packaging systems. The increasing number of biopharmaceutical and large-molecule drug manufacturers is also expected to increase the need for injectable administration and packaging systems. Counterfeiting and traceability measures are expected to witness the improvement by the usage of labels, such as unique coding and marking on the packages. Further, vendors in the APAC coding and marking ink market are well positioned to derive the growth benefits in the healthcare industry. Factors such as an increase in the aging population, the rise of communicable and non-communicable diseases, and the availability of diverse medicine tracking software/systems are set to drive the market for coding and marking ink solution providers.
Market Segmentation by Product Type
• Water-based
• Oil-based
• Solvent-based
• UV Inks
• Hot Melt
Market Segmentation by Cartridge
• HP
• FUNAI
• IUT
• Others
Market Segmentation by End-user Type
• Food & Beverage
• Healthcare
• Electrical Equipment & Electronics
• Chemical & Construction
• Automotive & Aerospace
• Others
Insights By Geography
With rapid changes in the smart industry due to the influence of the Internet of Things (IoT), consumers are focusing on transparency in the information related to products. Easy-to-read and better clarity in product markings enables efficient interaction between manufacturers and consumers. Moreover, to expand the efficient coding and marking systems, vendors in China are focusing on leveraging diversified options of exhibitions, expos, and trade fairs. However, the coronavirus outbreak has affected the overall investment and sales, along with industrial production across the country.
The demand for coding and marking ink solutions is expected to increase with the expansion of food & beverage, pharmaceutical, and consumer electronics in Japan. The increasing traceability among vendors and consumers is further expected to boost the sale of these products or solutions as they enable vendors to easily trace and track products from shelves, thereby avoiding fallout or damage. However, the country is witnessing disruptions in supply chain processes due to the COVID-19 pandemic in the country, thereby affecting the demand for overall product coding and marking solutions.
The coding and marking ink market in India is expected to witness significant growth during the forecast period. With the expansion of the food and beverage industry, stringency in legislative and regulatory measures, coupled with the growing trends toward product traceability, the Indian market is poised for growth. With the availability of digital techniques, increasing complexity in the product packaging, coupled with the rising counterfeiting issues, the market is expected to witness significant developments. Continuous inkjet printers are being preferred over the traditional systems for printing on packaged bottles or other products. However, the market is likely to get affected due to the outburst of COVID-19. The country's export dependence on China will hamper the market growth.
Key Countries
• China
• Japan
• South Korea
• India
• Australia
• Malaysia
• Vietnam
• Indonesia
• Thailand
• Taiwan
• Rest of APAC
Key Vendor Analysis
The APAC coding and marking ink market is moderately concentrated. The competition among the players is intense. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and upgrades. The present scenario is forcing vendors to alter and refine their unique value proposition to achieve a strong market presence.
Key Vendors
• Brother Industries
• Hitachi Industrial Equipment Systems
• Kao Collins Corporation
Other Prominent Market
• Alpha Coding
• ATD
• Beijing Hi-Pack Coding
• Control Print
• Dotjet
• Dover Corporation
• Guangzhou EC-PACK Packaging Equipment
• Hewlett Packard
• InkJet
• Insignia
• IUT Technology (Asustek Computer)
• KGK Jet India
• Kishu Giken Kogyo
• Koenig & Bauer Coding
• Linx Printing Technologies
• Matthews International
• National Coding Technologies
• Rynan Technologies
• SATO Holdings
• Trend Marking Systems
• Videojet Technologies
Key Market Insights
The report provides the following insights into the APAC coding and marking ink market for the forecast period 2020–2025.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities
• Delivers a complete overview of market segments and the regional outlook of the market
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market
Read the full report: https://www.reportlinker.com/p05882096/?utm_source=PRN
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