Laser Printing Technology in Coding and Marking Market to Worth $1.6 Billion by 2023
Arizton’s recent market research report on the coding and marking market identifies Danaher, Dover, Brother Industries, Hitachi Industrial Equipment Systems, and ITW as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by technology (primary package coding (CIJ, Laser, TIJ, and TTO) and secondary and tertiary packaging coding (VIJ, PALM, and PIJ)), by product mix (equipment, consumables, and spare parts and aftermarket), by end-user industries (chemicals & construction, food & beverage, electrical & electronics, healthcare, and others), and by geography (APAC, Central & Eastern Europe, Latin America, Middle East & Africa, North America, and Western Europe).
The coding and marking market is anticipated to reach revenues of about $7 billion by 2023, growing at a CAGR of around 7% during 2017-2023.
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The coding and marking market is divided into four major segments that include technology, product mix, end-user industries, and geography.
Laser printing technology to grow at the fastest CAGR in the coding and marking market during forecast period
The coding and marking market by technology is segmented into primary package coding (CIJ, Laser, TIJ, and TTO) and secondary and tertiary packaging coding (VIJ, PALM, and PIJ).
The laser printing technology dominated a considerable market share in 2017, growing at a CAGR of approximately 8% during the forecast period.
Laser printing technology offers code permanence, clear codes, has a high uptime due to low maintenance, and reduce operator intervention thereby, propelling the growth of this segment in the coding and marking market. Laser printing technology helps to maintain a clean production environment, ensures the presence of fume extractors, do not require consumables or fluids, and helps avoid any ink-related product contamination. This printing technology is highly adopted in the cosmetics and personal care products industries. CO2 laser marking device and Videojet 3430 are few of the laser marking devices offerings by Videojet in the coding and marking market.
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Electrical & electronics industry to grow at a considerable CAGR in the coding and marking market during forecast period
The end-user segment in the coding and marking market is divided into chemicals & construction, food & beverage, electrical & electronics, healthcare, and others. The electrical and electronics industry occupied a significant market share in 2017, growing at a CAGR of approximately 7% during the forecast period. The adoption of innovative printing technology is increasing the popularity of coding and marking solutions in the electrical and electronic industry. The leading vendors are offering unique solutions to print letter-quality microcodes on a variety of electrical components and substrates such as silicon, metal, plastic, rubber, and fiberglass. Continuous inkjet (CIJ) technology and laser are the most commonly used printing technology in this industry. The cable and wire industry is also witnessing an increase in demand for these services, and the companies are ensuring increased flexibility in the printing of meter markings and counters. The prominent players are also ensuring coding without tooling to allow quick changeovers and the use of real-time codes to improve traceability of products will fuel the development of the coding and marking market.
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North America to grow at a significant CAGR in the coding and marking market during forecast period
The coding and marking market by geography is categorized into APAC, Central & Eastern Europe, Latin America, Middle East & Africa, North America, and Western Europe. North America occupied a sizable market share in 2017, growing at a CAGR of around 7% during the forecast period. The presence of large food and beverage and pharmaceutical companies in North America will augment the growth of the coding and marking market in this region. The growing implementation of legislation and industry mandates that ensures that products are coded with product traceability and authentication systems in the coding and marking market in North America. Additionally, increasing number of R&D activities and growth of the automotive industry will boost the demand for innovative printing technology in the North American market. The US is the largest revenue generator in the North American coding and marking market.
The other prominent players in the coding and marking market are ANSER Coding, Beijing Hi-Pack Coding, Control Print, EBS Elektronische Beschriftungs-Systeme, Guangzhou EC-Pack Packaging Equipment, Iconotech, ID Technology, InkJet, KBA-Metronic, KEYENCE, Kotho, Macsa ID, Matthews International, Paul Leibinger, REA Elektronik, SATO Holdings, Squid Ink, Universal Labeling Systems, Weber Marking Systems, Xaar, and Zanasi.
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The complete overview of the latest market research report on global coding and marking market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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