Coding and Marking Systems Market to Witness Growth Due to Rising Incidents of Counterfeiting | Key Players are Danaher Corporation, ATD Marking Systems, ID Technology, Inkjet Inc, Hitachi Ltd, Dover Corporation, Diagraph Group, Matthews International Cor

From valuing $3,358.0 million in 2017, the global coding and marking systems market is predicted to grow to $5,012.6 million by 2023, registering a 6.9% CAGR during the forecast period (2018–2023). The parameters responsible for the market growth are the growing demand for these systems in the automotive, pharmaceuticals, and food & beverage industries. Coding and marking systems are used for mentioning product-related information, such as the expiry and manufacturing dates, batch number, price, nutritional information, and other related information.

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On the basis of technology, the categories of the coding and marking systems market are laser coding & marking, print & apply labelers, drop on demand, thermal ink jet, thermal transfer overprinting, and continuous inkjet, and others. In the historical period (2013–2017), the highest revenue in the market was generated by the category of continuous inkjet technology. This technology gives the best printing output on flat and curved surfaces, such as aerospace and automotive components, bottles, and packages. In the forecast period, the fastest growth would be exhibited by thermal transfer overprinting.

The classifications of the coding and marking systems market based on region are Latin America, Middle East & Africa, Asia-Pacific (APAC), Europe, and North America. The largest regional market for these systems in 2017 was APAC. The region is expected to maintain its dominance in the market in the forecast period as well, in terms of revenue generation. This can be attributed to the rising incidence of piracy and counterfeiting in the region, which has motivated the governments of many countries in the region to introduce strict legislations for providing complete product information on the packaging.

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The coding and marking systems market is observing the trend of the use of environment-friendly coding technologies. Solvents, such as volatile organic compounds and methyl ethyl ketone (MEK) are hazardous to the environment and human health, therefore many environment protection agencies, such as the Registration, Evaluation, Authorization and Restriction of Chemicals committee have designed regulations for printing materials used in these systems. Additionally, companies are also focusing on the development of low-odor printing inks, which can be used for printing purposes on the packaging of food products, such as tobacco and bread and pastry.

One of the major driving factors of the coding and marking systems market is the rising demand for printing solutions from the automotive industry. Thousands of components are required for manufacturing a vehicle; each of the components should be error-free. Even with all the precaution and testing, some components may be defected during different stages of the pipeline. Therefore, to correctly identify the stage, the component is allotted a new code for easy tracking throughout the process. Further, many automotive components are being counterfeited; to avoid that, these systems are being used for the printing of an identification code or symbol on components.

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The coding and marking systems market has major opportunities for growth with the implementation of stringent government norms regarding coding and marking in the packaging industry. The governments of many countries have mandated the mention of product-related information on the packing. Many industry-related regulations for easy product traceability and serialization are being implemented by various agencies. For instance, in China, drug manufacturers are required to print a government-provided 128-barcode linear code on products. Such regulations help in improving the safety of products and identify counterfeited products.

Therefore, the market for coding and marking systems is expected to register significant growth in the coming years due to the rising popularity of end-use products, such as vehicles and pharmaceuticals.

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This release was published on openPR.