CODING AND MARKING INK MARKET SIZE TO CROSS USD 1.7 BILLION BY 2024, GROWING AT A CAGR OF OVER 5% DURING THE FORECAST PERIOD

Coding and Marking Ink Market Size, Share, Trends, Analysis Report by Product Type (Water-Based, Oil-Based, Solvent-Based, UV, and Hot Melt Inks), End-User (Food & Beverages, Healthcare, Electrical Equipment & Electronics, Chemicals & Constructions, Automotive & Aerospace and Others), Coding and Marking Type (CIJ, PIJ, TIJ, and VIJ), Colorant (Dye and Pigment), and Geography (APAC, Middle East & Africa, North America, Latin America, and Europe), Industry Analysis, Growth Potential, Price Trends, Competitive Landscape & Forecast 2019-2024

GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Customize this Report

Most Exhaustive Report

307 Pages

94 Tables

95 Charts

5 Regions

23 Countries

28 Companies

5 Market Segment

Coding and Marking Ink Market Report Scope

Report Attribute Details
Market Size (Revenue) USD 1.7 Billion (2024)
CAGR 5% (2019-2024)
Base Year 2018
Historic Year 2015-2017
Forecast Year 2019-2024
Market Segments Product Type (Water-Based, Oil-Based, Solvent-Based, UV, and Hot Melt Inks), End-User (Food & Beverages, Healthcare, Electrical Equipment &Electronics, Chemicals & Constructions, Automotive & Aerospace and Others), Coding and Marking Type (CIJ, PIJ, TIJ, and VIJ), and Colorant (Dye and Pigment)
Geographic Analysis APAC, Middle East & Africa, North America, Latin America, and Europe
Countries Covered Argentina, Australia, Benelux, Brazil, Canada, China, France, Germany, India, Iran, Italy, Japan, Mexico, Nigeria, Poland, Saudi Arabia, Scandinavia, South Africa, Spain, Turkey, UAE, UK, and US

INDUSTRY INSIGHTS

The growing demand for ready-to-eat products and organic products is increasing the application of marking inks in the food & beverages industry

The coding and marking ink market size to cross USD 1.7 billion by 2024, growing at a CAGR of over 5% during the forecast period. The global coding and marking ink market has been subjected to several regulatory compliances and crucial coding terminology over the years. Adherence to regulatory standards remains crucial for vendors. They need to follow the prescribed manufacturing guidelines as their end-products printed over-packaged foods are supposed to undergo rigorous quality checks. 

The market is witnessing high demand for efficient ink solutions as their usage varies across end-users. With the advent in technology, vendors are consistently developing solutions to cater to the growing demand from several end-user industries. Food and beverages and healthcare sectors have been under the close watch of vendors. The food & beverages industry remains ever-expanding due to the rise in demand for ready-to-eat products, organic products, and consistent retail sector expansion.

While APAC is the fastest-growing region, the popularity of innovative packaging designs in China and India has influenced the market. Regions such as Europe and North America remain the highly demanding market for coding and marking ink. The boom in the e-commerce industry in these regions has further escalated the demand for effective secondary packaging. Also, with the growing trend toward returnable and recyclable packaging, the need for effective ink solutions has gained significant traction.

Also, strategic partnerships between vendors and industry customers tend to drive considerable demand for the market. Vendors are developing ink solutions in collaboration with customers. With a fast-competitive environment across end-user industries, the requirement for matching up with modern-day production standards remains crucial for customers.

Coding and Marking Ink Market Segmentation

The market research report includes detailed market segmentation by

  • Material
  • Product
  • End-user
  • Printing
  • Packaging
  • Geography

Insights by Product Type

Water-based inks have witnessed a considerable rise in demand due to the growth in popularity of drop-on-demand printing

Water-based inks were the largest end-user segment in the global coding and marking ink market in 2018. They have witnessed a considerable rise in demand due to the growth in the popularity of Drop on Demand (DoD) printing. The application of these solutions in environmentally sensitive applications is another factor for the growth of the segment.

Oil-based inks have started to witness significant traction among VIJ printers. The popularity of these solutions has further driven by the growth of the e-commerce sector. End-user industries such as food & beverages and electrical equipment & electronics have also witnessed considerable demand for oil-based inks.

Solvent-based inks are witnessing high demand on account of increased applications in areas such as automotive, electrical and electronics, and other plastic packaging industries. Eco-friendly properties of these solutions make them a suitable choice across end-user industries.

The need to prevent product counterfeiting and increase internal traceability within manufacturers is increasing the usage of UV inks. Vendors are focusing on introducing new solutions to keep their codes and marks discreet. Hence, the need for foolproof security is boosting the demand for UV inks in the market.

Insights by End-user Type

The holistic growth of the food and beverages sector across the globe is projected to increase the demand for coding and marking solutions

Coding and marking solutions play a vital role in the food & beverages industry worldwide. The holistic growth of the sector across the globe is projected to increase the demand for these solutions. The emergence of new potential markets across geographies and multiplication of stock-keeping units has further propelled the growth of the segment. Therefore, the launch of innovative products and changing consumer preferences are set to boost the market in the coming years.

The healthcare industry has remained a key end-user due to the high applicability in several medical devices and drugs. The application of coding solutions in the healthcare industry is gaining traction. Government regulations are directing the use of drug-specific information on pharmacy products worldwide. Therefore, regulations worldwide tend to push manufacturers to undergo several coding and marking procedures.

The adoption of coding and marking services in the electrical & electronics industry is growing rapidly. CIJ is one of the major technologies used in the industry. Driven by innovation, growth in disposable incomes, and rapid technological advancements in manufacturing worldwide, the industry has witnessed significant growth. With the advent of Industry 4.0, the demand for coding and marking solutions in the electrical & electronics industry is growing.

The chemicals industry has shown reasonable growth in the last few years. A consistent focus on sustainability is driving the market for chemicals globally. Coding and marking solutions are expected to witness strong growth across the chemicals industry due to the need for imprinting codes on resistible materials.

Insights by Type

The Continuous Ink Jet (CIJ) segment is expected to witness an incremental growth of over $300 million by 2024.

The CIJ segment is likely to continue its dominance due to high-speed printing and "quick-dry" nature of CIJ technology. It is extremely versatile and enables printing on any surface virtually. Therefore, easy availability and high penetration of CIJ technology are projected to increase the revenue of the segment during the forecast period. PIJ technology, on the other hand, is gaining acceptance among commercial and industrial end-users. The technology offers high-speed printing, long service life, and relatively low operating costs for end-users. However, any change in the regulatory environment is expected to hinder the segment growth.

Thermal Inkjet (TIJ) technology is growing faster than other inkjet technologies and is offering tough competition to laser and CIJ techniques. The ability to print on any surface is a major driver for the growth of the segment. Further, cost-effectiveness increases its acceptance among end-users. TIJ is effective for small workloads. This technology is flexible and can easily be integrated with production lines. It delivers fast high-resolution printing/coding/marking on products, which further increases its usability. VIJ technology has witnessed steady growth in recent years. VIJ technology is cost-effective and easy to operate and maintain. VIJ printers can print a large assortment of material such as plastic, metal, wood products, carpet, pipe, and drywall.

Insights by Colorant

The presence of high-fading resistance in pigment-based colorants is expected to boost the market share of the segment

The dye segment dominates the global coding and marking ink market. Dye-based inks are highly preferred given their superior color gamut than pigments. The high application of dye-based solutions on a wide range of substrates such as plastics, paperboard packaging, and metals is a major factor for the high market share of the segment. Further, the implementation of dye-based inks as standard ink types in inkjet printers is likely to remain stable and steady during the forecast period.

The ability of pigment colorants to reduce the risk of ink transfer is a major driver of the growth of the segment. However, another key factor responsible for the growing application is high fade-resistance. Pigment-based inks resist color fading for more than 20 years. This high-fading resistance property is expected to boost the revenue of the segment during the forecast period.

Insights by Geography

The changing regulatory compliance scenario and the growing purchasing power among consumers are likely to bode well for the North America market

The global coding and marking ink market is diversified across APAC, Europe, North America, Latin America, and MEA. Factors such as high demand from several end-user industries, the standardization of packing and labeling market in APAC, the rise in disposable incomes, and the growth of innovative, flexible packaging designs as well as demand for secondary packaging in Japan, South Korea, China, Indonesia, and India are driving the APAC market. 

The market in Western Europe is mature than Central & Eastern Europe and is likely to grow at a CAGR of over 4% during the period 2018–2024. The evolving regulatory landscape in Europe is expected to play a vital role in the rise of the coding and marking ink market in Europe. The presence of a favorable retail environment is a major reason for the growth of coding solutions and equipment in Western Europe. The growth in per capita disposable income has led to high discretionary spend across Europe, thereby increasing the purchasing power of consumers. Further, the improving manufacturing sector in Germany is expected to drive the market.

Legislation and industry compliances are driving the market in North America. Several government regulations in the US require the printing or marking of product information on packages of food and beverages. Hence, the steady rise of coding and packaging ink is likely to augur well for the market. Growth in disposable incomes, particularly in the baby boomer segment, has increased the purchasing power of consumers in the region, which is leading to the rise of several end-user industries, especially food & beverages. Hence, the changing regulatory compliance and growing purchasing powers among consumers are likely to bode well for the North American market.

Insights by Vendors

The competitive environment in the coding and marking ink market is intensifying. The market currently witnesses the presence of several major as well as other prominent vendors, contributing toward the market growth. However, the market is observing an influx of local vendors entering the market. Domino (Brother Industries), Videojet (Danaher), Markem-Imaje (Dover Corporation), ITW, and Hitachi Industrial Equipment Systems are the key vendors in the market. Vendors in the market are frequently launching innovative offerings in end-user industries and are coming up with a wide variety of inks suitable for diverse printing applications. Factors such as quality, durability, drying-time, colors, and variety, and feasibility with printers provide vendors opportunities for creating differentiation among competitors.

New product development and technological advancements remain key for competitors to capitalize upon in the coding and marking ink market across the globe. Vendors in the market tend to take time in developing new inks, which can extend up to 2 years. Also, major players in the market tend to focus on strategic partnerships while developing a new ink formulation to develop a perfect solution for the end-user industry customers.

Vendors can consider targeting key regions such as APAC, North America, and Europe to gather maximum customer attention. Countries in the APAC region such as China, India, and Japan among others are expected to display significant growth prospects in the future due to high economic growth forecasts along with huge population statistics leading to high consumption of goods and products. These markets are further expected to witness a higher demand for having proper coding and marking facilities owing to the need for having appropriate coding and marking solutions for product tracking and traceability.

The coding and marking ink market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Market Segmentation by Product Type

  • Water-based Inks
  • Oil-based Inks
  • Solvent-based Inks
  • UV Inks
  • Hot Melt Inks

By End-user

  • Food & Beverages
  • Healthcare
  • Electrical Equipment & Electronics
  • Chemicals and Constructions
  • Automotive & Aerospace
  • Others

By Colorant Type

  • Dye
  • Pigment

By Coding and Marking Types

  • CIJ Coding & Marking
  • PIJ Coding & Marking
  • TIJ Coding & Marking
  • VIJ Coding & Marking

By Geography

  • North America
    • US
    • Canada
  • APAC
    • China
    • Japan
    • India
    • Australia 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Turkey
    • Poland
    • Benelux
    • Scandinavia
  • Middle East & Africa
    • South Africa
    • Iran
    • Nigeria
    • Saudi Arabia
    • UAE
  • Latin America
    • Brazil
    • Argentina
    • Mexico

Frequently Asked Questions

Coding and marking ink market size to cross USD 1.7 billion, growing at a CAGR of over 5% during the forecast period
Solvent-based inks are witnessing high demand on account of increased applications in areas such as automotive, electrical and electronics, and other plastic packaging industries.
The healthcare industry has remained a key end-user due to the high applicability in several medical devices and drugs. The application of coding solutions in the healthcare industry is gaining traction.
The Continuous Ink Jet (CIJ) segment is expected to witness an incremental growth of over $300 million by 2024.
Factors such as high demand from several end-user industries, the standardization of packing and labeling market in APAC, the rise in disposable incomes, and the growth of innovative, flexible packaging designs as well as demand for secondary packaging in Japan, South Korea, China, Indonesia, and India are driving the APAC market.
Read More

Select a license type that suits your business needs

Single User Licence
$4000.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5 User Licence
$4500.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Corporate Licence
$5500.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
Datasheet Licence
$2000.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Select a license type that suits your business needs

Best Value Tag
Coming Soon
  • Stay tuned with us.

YOU CAN GET A FREE SAMPLE OF THIS REPORT!

Fill out your details & get your free sample

Our Clients

Licence Types What are these?

Our Clients Speak

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date