Huge Investments in Sectors such as Automotive and Electronics Thriving the Demand for Coding and Marking Market
Posted on Sep 17 2019 6:30 AM
"The global Coding and Marking Market attained a value of $5.52 billion in 2018 and is poised to rise at a CAGR of 5.50% over the forecast period 2019-2025."
With increasing inclination towards automation, the manufacturing industry is rising at a fast pace for the past few years all around the world. According to the World Bank data, the global manufacturing value-added growth rate increased from 1.6% in 2016 to 3.44% in 2017. The increasing production lines are thriving the demand to automate quality control of products. Therefore, product marking has become a top priority for industries to upgrade the inspection and quality control. The ‘smart’ automation is driving the innovations to manage these quality control tasks involving coding and marking of the products effectively and accurately. Subsequently, the organizations are reaping potential benefits while dealing with the errors swiftly with minimal negative impact. Recent advancements including laser coding and marking technology, which evolved in the past ten years, are widely accepted and reducing the expenses of the industries. This kind of advancements in the coding and marking is vastly employed in a wide range of applications which is supporting the coding and marking market growth.
The global Coding and Marking Market attained a value of $5.52 billion in 2018. Furthermore, the total revenue is poised to rise at a CAGR of 5.50% over the forecast period 2019-2025.The report covers Coding and Marking Market size by type and applications, Coding and Marking Market share by top 5 companies and also the market share by start-ups during the forecast period.
Automation Enabling the Coding and Marking Market to Rectify Human Errors and Product Recalls in the Food Industry
Human intervention in product labeling and coding can be cost-effective as well as complex. It possesses tremendous risk and recalls for costly inaccurate labeling or allergen declaration in the food industry. This risk significantly impacts the food and beverage market along with the other manufacturing industries. In the Industry 4.0 era, these flaws are eradicated swiftly and cost-effectively unlocking a great deal of productivity and profits to the companies. With the widespread of Internet of things (IoT) integrated into the supply chain of the industries along with the increasing consumer demand to produce nuanced varieties including gluten-free, organic, artisan, and lactose-free products, the pressure to automate coding and marking segment of the supply chain is ramping up. On the whole, IoT methodology is integrating the coding solutions on the existing network. This, in turn, is enabling the industries ease of transformation towards automated coding market.
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Anti-Counterfeit Driving the Coding and Marking Market in the Innovation-Driven Economies
Illicit trade in fake goods is a major threat to innovation-driven economies around the world. They diminish firms’ profits as well as public security, health, and safety. Counterfeiting goods is a relentlessly altering phenomenon which the labeling and coding market need to outperform. In 2016, counterfeit and pirated goods held 3.3% of the world trade. Therefore, companies of major economies including EU are investing heavily in protecting their brands, customers, and intellectual properties. Countries are enforcing regulations and guidelines in order to identify counterfeited products. On the other hand,anti-counterfeiting programs held at different countries are aiming to promote coding and marking prominence in the supply chain of the manufacturing. According to the (JEITA) Japan Electronics and Information Technology Industries Association, the total production of global electronics and IT industries is anticipated to rise 8% on year in 2018. The fast-growing electronics and pharmaceutical industries are widely adopting robust coding and product marking techniques such as print and apply labelers along with thermal transfer overprinting to mitigate the impacts caused by counterfeiters. They are providing complex, multi-layer, and high-level authentication of labeling to enhance their brand protection while preventing the goods from getting tampered. With customized coding algorithms, the traceability of the products is ensured from the manufacturer to the end-user. Consequently, the coding and marking industry is expediting in the electronics and pharmaceutical sectors to hinder counterfeiters.
End-User Industries of APAC Fueling the Growth of the Coding and Marking Market
As of 2018, the APAC coding and marking market led the global marketplace with a regional share of 30%. The dominance of this region is attributed to the large base of retail space, manufacturing hub. Occupying 5th place in the global retail space while accounting to 10% of the country’s GDP share, the retail space in India is growing at a fast pace and is anticipated to grow from $672 billion in 2017 to $1,200 billion in 2021. APAC countries such as Indonesia, China, India, and Malaysia along with Brazil constitute the dominant share of 40% of permanent crops in the world. These countries are abundant suppliers of raw materials for the food industry which in turn, is constituting to the growth of coding and marking market for the packaging of these food products. Along with that, APAC countries such as China and India are experiencing huge investments in their dominant sectors such as automotive, consumer goods, and electronics which are thriving the demand for coding and marking market.
The Coding and Marking Market Experiencing Lucrative Opportunities in the Plastic Segment
Coding and marking industry offer diverse opportunities to the plastic segment. The plastic coding and marking market is set to disrupt with a significant growth rate of 5.30% over the forecast period. Plastic packaging offers numerous varieties and designing to the industries. Besides, it is widely chosen by the personal and industrial packaging industries. Different types of coding and marking technologies such as direct part marking (DPM) solutions and inkjet technologies including small character inkjet technology, hot-melt inkjet printing, and valve jet printing technology are flexibly used to mark plastic materials. As a result, the plastic coding market is amplifying over the forecast period.
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Key Players in the Global Coding and Marking Industry
The major companies operating with a dominant share in the global coding and marking industry are Danaher Corporation, Dover Corporation, Matthews International Corporation, Rea Elektronik GmBH, ID Technology, Brother Industries Limited, Illinois Tool Works Inc., Hitachi, Ltd, Keyence Corporation, and BestCode. The market is thriving with cost-effective technologies and offering fewer entry barriers to the new players thereby allowing fragmentation.
The global coding and marking industry is experiencing ceaseless product launches for product labeling and marking with advanced technologies. Few of them include:
- In 2019, Videojet Technologies, Inc. added DataFlex 6530 107-mm and 6330 32-mm printers to the range of DataFlex® TTO thermal transfer overprinting solutions. This new range is integrated with revolutionary Videojet iAssure™ technology which has in-built code quality checker. This checker identifies and detects the coding defects and position automatically which can reduce the product wastage and rework significantly.
- In 2018, InkJet, Inc. has launched DuraCode, a Continuous Inkjet (CIJ) Printer. With robust IP55-rated stainless steel structure, DuraCode adds durability and reliability to the existing printer portfolio of InkJet. This printer endures extreme temperatures, vibration, and humidity while providing operational ease which makes it suitable for the industrial applications.
- In 2018, Markem-Imaje, a global producer and distributor of equipment specialized in variable data, traceability, and product identification released its latest version of CoLOS 6.0 information management system. In order to ensure efficient traceability and minimize product recalls and coding errors, this version provides better security and integration of information with ERP (enterprise resource planning) systems. This newer version offers greater insights and simpler way to customize packaging requirements to the manufacturers.
A. Anti-Counterfeit Packaging Market
B. Packaging Printing Market
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