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Trusted Business Insights presents an updated and Latest Study on Inkjet Coders Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Inkjet Coders market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Inkjet Coders Market
The global inkjet coders market size was valued at USD 1.5 billion in 2018 and is expected to witness a CAGR of 5.1% over the forecast period. The market is expected to witness an incremental growth in demand owing to growing emphasis on anti-counterfeiting strategies, compliance with stringent labeling regulation, and product traceability. Inkjet coders are non-contact printing coders used to print dates, batch numbers, and time on variety of packaging products such as containers and cartons.
These coders are majorly used in industries such as food and beverages, personal care products, electronics, automotive, and pharmaceutical. The inkjet technology comprises thrusting ink to the print head with stimulation of artificial pressure and is appropriate to mark flat as well as curved surfaces. The declining cost of these printers is directly expected to have a positive impact on demand for inkjet coders worldwide.
Technological advancement in these coders, including development in software that controls and monitors automatic flush systems and ink viscosity that saves time by stopping and removing the daily print head, is expected to create tremendous growth opportunities for the market over the forecast period. Furthermore, reducing the mixing of air with ink as well as increasing demand for minimization of solvent evaporation rate (fast drying time) are also anticipated to drive the market over the forecast period. By minimizing the solvent evaporation rate and substantially eliminating the ability of the solvent to evaporate from the bulk ink, the decap time can be increased. This, in turn, improves the functionality of inkjet coders.The rapidly growing retail sector, as well as increasing demand for FMCG products, is expected to drive the market during the forecast period. The growth is also attributed to favorable socio-economic and demographic factors including urbanization, growing population, and rise in the standard of living. Also, increasing number of pharmaceutical stores are propelling the demand for these coders. In the pharmaceutical industry, these printers are used to mark packages, boxes, and blister packs for medicines and drugstore items, which in turn, enable traceability required under legal implications while protecting against counterfeit pharmaceuticals.
Furthermore, factors such as high running costs and low quality of marks that result in non-permanent marks are anticipated to hinder the growth of the market over the forecast period. Also, these printers spill tiny droplets of ink while coding, resulting in a lower resolution than the laser coders, which is the primary substitute of inkjet coders. However, there are several advantages of inkjet printers over laser printers for coding such as cost-effectivity and easy integration, which are expected to reduce the effect of challenges on the market, eventually.
Type Insights of Inkjet Coders Market
Manufacturing companies offer several types of inkjet coders, including Continuous Inkjet (CIJ) coder, Drop on Demand (DOD) inkjet coder, Thermal Inkjet (TIJ) coder, and others. The TIJ coder segment is expected to emerge as the fastest-growing segment over the forecast period. The growth is attributed to its several benefits, such as low cost of maintenance, high print quality and resolution, and minimal release of volatile organic compounds (VOCs). Furthermore, these coders also offer sealed cartridge-based systems for ink delivery, which makes replenishment simple while eliminating the possibility for spills. Thus, the end users prefer buying these coders, which in turn is anticipated to spur the inkjet coders market over the forecast period.
Coders with Drop on Demand (DOD) inkjet type are anticipated to register considerable growth by 2025. This growth is ascribed to the benefits offered in terms of functionality, reduced downtime due to fewer moving components, and flexibility, allowing the ejection of liquid from the printhead only when a drop is required. These types of printers are majorly used for printing on corrugated metal, boxes, varnished cartons, wood, and other porous materials that require large character coding. The benefits mentioned above of DOD inkjet coders lead to enhanced user experience.
Application Insights of Inkjet Coders Market
In 2018, the food industry segment accounted for approximately 20% of the global market share. The food industry vertical is anticipated to offer sound growth opportunities for all players involved in the value chain on the back of the increasing volume of food products being manufactured/processed daily. Marking and coding in the food industry allow consumers to read information and comprehend what they are consuming. Information coded on the product includes nutritional information, expiry dates, alcohol content, and potential allergens. Besides, stringent regulations on clear printing of information such as the date of product manufacturing/expiry, batch number is another major factor boosting the segment growth. Other than the food industry, these coders are used in multiple verticals such as medical applications, cosmetic industry, automobile industry, and the tobacco industry, among others.
Inkjet coders used in automotive industries are anticipated to witness substantial growth over the forecast period. This growth is attributed to various benefits offered such as line speed, integration with existing enterprise resource (ERP) systems, and ease of installation. These coders allow code/print bold and visible logos and switch from 0.8mm micro prints to bold 20mm print in the same machines. This helps users to transform simple coding into improved one and enhance their experience.
Regional Insights of Inkjet Coders Market
Europe held the largest market share in 2018, accounting for approximately 30.0% of the total inkjet coders revenue share. The dominance can be attributed to the presence of large manufacturing sectors across different industry verticals. This region is estimated to remain dominant in the market throughout the forecast period. Furthermore, Asia Pacific is likely to offer lucrative growth opportunities in the market over the forecast period.
Major manufacturers in the market are from China, because of the low capital cost required in the country, developments in technology, and shifting trends and requirements of players in the market. Moreover, to reduce the rapidly increasing piracy and counterfeiting, the governments of different countries in the region have introduced legislative norms. For instance, in 2011, China Food and Drug Administration (CFDA) announced coding norms for pre-packaged foods, which required manufacturers to include information regarding producer details, product name, batch identification, ingredients, and storage condition on packages. These norms make the inkjet coder providers in the region count on coding and marking systems to accurately label produced goods, thereby boosting market growth in the region.
North America emerged as the second-largest region in 2018. The growth can be attributed to increasing adoption of inkjet coding technologies among the food and beverages industry in the region. In the current market scenario, the U.S. dominates the market in North America. Large scale adoption of these coders can be seen in the U.S. food, packaging, and pharmaceutical sectors. Being early adopters of inkjet coding technology, North America is home to a large number of coding manufacturers and solution providers.
Market Share Insights of Inkjet Coders Market
Some of the prominent players in the market include Markem-Imaje; Linx Printing Technologies; KGK Jet India Private Limited; Xaar Plc; Videojet Technologies Inc.; Kiwi Coders Corp.; and Hitachi Industrial Equipment Systems Co., Ltd. Inkjet coder providers are focusing on new product development, which in turn would help increase their market presence.For instance, Videojet Technologies, Inc. announced that it would launch its new Videojet 1580 continuous inkjet (CIJ) coder/printer, which helps to provide an improved marking and coding capability with enhanced uptime and lowered total cost of ownership (TCO) by evaluating and improving coder/printer performance.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Inkjet Coders Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global inkjet coders market report on the basis of type, application, and region:
Type Outlook (Revenue, USD Million, 2019 – 2030)
DOD Inkjet Coder
Application Outlook (Revenue, USD Million, 2019 – 2030)
Pipes, Wires & Cables
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