Increasing Demand from Electronics Industry Driving Indonesian Coding and Marking Systems Market

The Indonesian coding and marking systems market generated $27.4 million revenue in 2017 and is expected to attain $48.7 million by 2023, registering a 10.1% CAGR during the forecast period (2018-2023). The market is growing due to the increasing requirement for coding technologies in the tobacco packaging and building & construction industry, rising demand for microelectronic components in the electronics industry, and growing use of coding and marking systems in the food & beverage and pharmaceutical industries. Coding and marking systems provide information related to the product on its packaging.

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When technology is considered, the Indonesian coding and marking systems market is categorized into thermal inkjet, thermal transfer overprinting, continuous inkjet, print & apply labeling, drop-on-demand, laser coding & marking, and others (which include hot-melt inkjet and valve jet). The market was dominated by the continuous inkjet technology during the historical period (2013-2017), holding more than 40.0% market share in 2017, in terms of value. The category is further predicted to retain its position during the forecast period due to its low operational cost.

The Indonesian coding and marking systems market is primarily divided into tobacco, building & construction, food & beverage, healthcare, chemical, cosmetics & personal & home care, automotive & aerospace, and electrical & electronics, based on end user. During the historical period, the market was dominated by the food & beverage sector and accounted for a volume share of over 30.0% in 2017. The reason for this was the increased usage of coding and marking solutions for printing product information on packaged food items such as beverages and confectionery.

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A major driver of the Indonesian coding and marking systems market is the increasing utilization of coding technologies in the construction and building industry. The construction industry in Indonesia is growing rapidly, due to which the requirement for coding and marking systems for printing graphics, company logos, barcodes, batch numbers, and other informative text on construction and building materials, such as wood, cement, and metals, is also increasing. Moreover, labeling on metal components, wood materials, and cement bags helps building material manufacturers in tracing such items throughout the supply chain.

The Indonesian coding and marking systems market is also being driven by the increasing requirement for coding and marking systems for microelectronic components in the electronics industry. Due to the increasing development of these components, the demand for durable and micro-sized codes has also risen. As these codes support anti-piracy, counterfeiting, and product serialization, they are increasingly being used in the electronics industry for marking light bulbs, plugs, printed circuit boards, micro-controllers, and diodes. Furthermore, these systems help in marking lot numbers, batch numbers, barcodes, and company logos on electronic devices.

A major trend being witnessed in the Indonesian coding and marking systems market is the emergence of environment-friendly coding solutions. Stringent regulations regarding the printing materials used in coding and marking systems have been imposed by various agencies, such as the European Union that implemented the Restriction of Hazardous Substances directive and the Registration, Evaluation, Authorisation and Restriction of Chemicals regulation. Due to this, manufacturers of coding and marking systems are increasingly focusing on the need for decreasing the utilization of harmful materials, such as volatile organic compounds and MEK.

Hence, the market is being driven by the rising demand for coding and marking systems for microelectronic components in the electronic industry and increasing utilization of coding technologies in the building and construction industry.

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This release was published on openPR.