Chemical Indicator Inks Market Key Players are 3M, Tempil, NiGK Corporation, Riken Chemical, Terragene SA, STERIS, North American Science Associates Inc., Crosstex and gke Gmbh

Robust sterilization equipment & disinfectants demand will propel global chemical indicator inks market size. Sterilization device demand will be driven by increased surgical instruments reprocessing technique, which was valued more than USD 5.5 billion. Furthermore, improvised technologies such as steam, hydrogen peroxide & plasma and ethylene oxide will stimulate demand. For instance, steam sterilization accounted more than 40% of global share in 2015 owing to its widespread medical applications as the process carries no toxic content.

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Increasing health care spending across Asia Pacific over the last few years has complemented chemical indicator inks market share. Also, rising awareness towards sterilization along with new medical procedures adoption in these countries will enhance growth. China’s healthcare expenditure was approximately 5% of their GDP in 2014. In addition, favoring government regulations to direct chemical indicator inks use in the sterilization process will further propel industry growth.

The criticality of printing processes in chemical indicator inks industry

While elaborating further upon the growth potential of the overall chemical indicator inks market, it is rather imperative to take note of the significance and contribution of printing processes in the rapid expansion of this business space. The major products of chemical indicator inks industry, such as solvents, colorants, additives, and resins, are extensively used by these printing processes which include flexographic printing, screen printing, and rotogravure printing. Out of these printing processes, flexographic printing, in the last few years, has apparently cropped up as the most widely used process across a clutch of end-user verticals, given that it can be utilized in a wide variety of substrates including plastics and paper. The rising popularity of flexographic printing, which is projected to progress at over 9 percent CAGR in the next seven years, has proved to be quite beneficial for the overall chemical indicator inks market size augmentation.

Meanwhile, the rising preference for flexographic printing can be interpreted by taking into account the fact that this process has been increasingly proved to be more fluidic and cost-effective than rest of the processes. Furthermore, a host of prominent chemical indicator inks manufacturers have been directing their financial might and domain expertise to introduce innovative printing inks that would enlarge the chemical indicator inks market scope.

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Key insights from the report include:

• Global chemical indicator inks market size is poised to surpass USD 78.35 million by 2024, at a CAGR of over 8%.

• In 2015, steam sterilization was valued over USD 15 million. This process is nontoxic, rapidly microbicidal, sporicidal, rapidly heats and penetrates fabrics, which makes it desirable over other sterilization process.
• Formaldehyde sterilization must experience gains more than 7% CAGR by 2024. Formaldehyde is used disinfectant and sterilant as it deactivates microorganisms by alkylation. However, it has limited health care use due to its irritating fumes and pungent odor.

• Rotogravure printing must experience gains over 6% CAGR.

• Water based inks are projected to witness 8% growth. Stringent government regulations favoring ecofriendly solvents such as water, will drive chemical indicator inks market size for water based product.

• In 2015, sterile bag demand for chemical indicator inks was more than USD 3.5 million. These bags are transparent, perforated and offers sterilant penetration ease for complete sterilization, making them appropriate for medical applications.

• Chemical indicator inks in tapes will witness highest growth over 9% by 2024. Increasing indicator tapes demand to provide added information will boost chemical indicator inks market share for tapes.

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Global chemical indicator inks market share is highly consolidated with major industry participants accounting over half of global volume in 2015. Tempil, North American Science Associates (NAMSA), 3M, Terragene SA and STERIS are major industry players. Other prominent industry contributors are NiGK, Riken Chemical, Crosstex and gke Gmbh.

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