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September 21, 2021, New York, USA - Global Coding and Marking: Introduction
The marking and coding systems allow for product information to be printed on packages, including batch number, manufacturing date and expiry dates. The outlook for the retail sector and the demand from key end-use industries such as food, beverage, chemical, pharmaceutical, construction, and building material all have an impact on the market's demand.
There are many opportunities for growth due to the increasing use of coding systems and markings for printing batch numbers, government I.D. codes, and printing labels on primary and secondary packaging materials in various industries like automotive, chemical, semiconductor, electronics, food and drink, among others.
The Global Coding and Marking Market Analysis and Insight:
The market for coding and marking systems is expected to grow at 5.5% during the 2021-2026 forecast period. The Global Coding and Marking Market have been growing due to the adoption of environmentally friendly technology.
The increasing demand from different industries, such as food & beverage, automotive, and other, rising preference towards packaged foods, non-alcoholic beverages, and dairy products, as well rising government initiatives to improve industry standards, will all contribute to the market's growth in the 2021-2026 forecast period. The development of an eco-friendly marking system will also boost many opportunities, which will result in the market for coding and markings systems growing over the forecast period.
The high cost of marking systems and stringent government regulations will limit the market growth in the coding & marking systems market during the forecast period.
Market Analysis and the Growth Forecast:
The U.S. The market was estimated at $751 million in 2021. China is forecast to reach $680.3 million by 2026.
In the United States, the Coding and Marking Systems and Solutions market is expected to reach US$751 million by 2021. China, second in the world, is expected to have a market value of US$680.3 million by 2026, with a 7.3% (CAGR) compound annual growth rate over the period.
Canada and Japan are notable geographic markets among the other noteworthy market. They both expect to grow at 4.4% and 3.9%, respectively, during the analysis period. In Europe, Germany is expected to grow at a 5.1% CAGR. The surge in demand from many end-use industries, including food, beverage, cosmetic, and pharmaceutical, is driving growth in the Asia-Pacific region. The potential for growth in coding and marking systems is a result of increased consumer incomes, westernization and improved lifestyles.
North America and Europe are also major markets for coding and marking systems. Their growth is fueled by technology advancements and increased R&D investment by vendors. The growth of the coding and marking system market is being supported by industry standards and legislative specifications in the U.S. and Europe.
Thermal Inkjet Segment to Hit $817.2 Million By 2026.
Thermal inkjet is constantly evolving with the need for inks that dry quickly and have better adhesion. A thermal inkjet is a high-resolution printer that can print on masks within a manufacturing line.
The 5.9% CAGR for the global Thermal Inkjet segment will be driven by the USA, Canada, Japan, China, and Europe. These markets, which together account for US$412 million in market share by 2020, will be projected to reach US$617.2 million at the end of the analysis period.
China will continue to be one of the most rapidly growing countries in this group of regional markets. The market in Asia-Pacific will be led by South Korea, India, Australia and China. Latin America will grow at 7.1% CAGR over the same period.
The Key Market Segmentation of the Global Coding And Marking Market:
Global Coding And Marking Market can be divided into Product Mix, End-User, and Geographical landscapes, etc.
Global Coding And Marking Market Segmentation By End-User:
Food & Beverage
Electrical Equipment & Electronics
Chemical & Construction
Automotive & Aerospace
Global Coding And Marking Market Segmentation By Product Mix:
Spare Parts & Aftermarket
Segmentation by Technology
Global Coding And Marking Market Segmentation By Geographical Landscape:
The Middle East and Africa
Major Key Players in the Global Coding And Marking Market Are:
ID Technology, LLC
Universal Labeling Systems, Inc
Domino Printing Sciences PLC
REA Elektronik GmbH
Matthews Marking Systems
Linx Printing Technologies
Videojet Technologies, Inc
Paul Leibinger GmbH and Co. KG
Hitachi Industrial Equipment Systems Co, Ltd
SATO Labeling Solutions America, Inc
The Covid-19 Impact Analysis:
The global market for Coding and Marking Systems and Solutions, which was valued at US$3.4 Billion in 2020, is expected to grow at a 5.5% CAGR over the period. The report estimates that Continuous Inkjet will grow at 4.4% and reach US$1.9 Billion by 2026.
After a thorough analysis of the economic consequences of the pandemic and the resulting economic crisis, the growth rate in the Laser segment has been adjusted to 7.4% CAGR over the next seven years. The new generation of coding and marking systems, including continuous inkjet printers (CIJ), can encode large quantities of variable information onto any surface, organic or not, absorbent or unabsorbent. They can also be used to code on dry, greasy, oily, or moist surfaces.
Its ease of installation is the main reason for the dominant share in the CIJ segment. Laser systems are rapidly gaining popularity due to their superior advantages in terms of ease of use, high performance, and low maintenance.
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