Global Coding and Marking Systems and Solutions Market to Reach $4.7 Billion by 2026

Coding and marking forms an important part of the manufacturing and intralogistics processes of packaged consumer and industrial goods. Coding and marking systems are used to print product-related details, such as manufacturing date, batch number, and expiry date among others, on the package. Demand in the market is impacted by the outlook in the retail sector and the level of demand in the key end-use sectors such as food and beverage, cosmetic, chemical, pharmaceutical, and construction and building material among others. The increasing use of coding and marking systems for printing of batch numbers, government identification codes, and printing labels among others on both primary and secondary packaging materials in industries such as automotive, healthcare, chemical, construction, semiconductor and electronics, and food and beverage among others presents considerable opportunities for growth.

Amid the COVID-19 crisis, the global market for Coding and Marking Systems and Solutions estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$4.7 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Continuous Inkjet, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$1.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Laser segment is readjusted to a revised 7.4% CAGR for the next 7-year period. New generation coding and marking systems including continuous inkjet (CIJ) printers can code large amounts of variable information onto any type of surface such as organic or non-organic, absorbent or non-absorbent, smooth or uneven, dry, greasy, oily, or humid surface among others. The dominant share of CIJ segment is due mainly to its ease of installation. Laser systems are gaining momentum due to their superior benefits in the form of ease-of-use, low maintenance, high performance and no need for inks and other consumables.

The U.S. Market is Estimated at $751 Million in 2021, While China is Forecast to Reach $680.3 Million by 2026

The Coding and Marking Systems and Solutions market in the U.S. is estimated at US$751 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$680.3 Million by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR. In Asia-Pacific region, growth is being spurred by the surging demand from various end-use industries specifically food and beverage, cosmetic and pharmaceutical sectors. Increase in consumer incomes, westernization, improved lifestyles and marketing/retailing practices are poised to enhance demand for packaged consumer goods in developing markets, while presenting growth opportunities for coding and marking systems. North America and Europe are other major regions in the coding and marking system market, with growth fueled by sustained technology developments and increasing R&D investments being made by vendors. In the US and European countries, legislative specifications and industry standards are facilitating growth of coding and marking systems market.

Thermal Inkjet Segment to Reach $817.2 Million by 2026

Thermal inkjet continues to evolve with a need for inks that will dry faster and offer better adhesion. Advanced ink types and high-resolution capabilities make thermal inkjet ideal for printing on masks in a manufacturing line. In the global Thermal Inkjet segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$412 Million in the year 2020 will reach a projected size of US$617.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$119.3 Million by the year 2026, while Latin America will expand at a 7.1% CAGR through the analysis period.