Coding and Marking Systems Market Segments Analysis, Future Opportunity, Current Challenges, Geographical Regions and Forecast to 2030

As per the Automotive Aftermarket Suppliers Association (AASA), the global automobile industry loses nearly $12.0 billion every year due to sales of counterfeit products, such as compression systems, lighting systems, steering linkages, suspension components, brake pads, and batteries. To combat this financial loss, vehicle manufacturers are increasingly using coding and marking systems to code part numbers or put anti-counterfeit labels on vehicle parts. Automobile manufacturers are currently opting for invisible yet scannable anti-counterfeiting printing inks and barcodes to combat the threat of counterfeits.

Apart from the automobile sector, the food and beverages industry is also using coding and marking systems in abundance, due to the burgeoning sales of bottled water, packaged food, dairy products, and fruit juices. Thus, the booming demand for such food items is expected to fuel the coding and marking systems market at a CAGR of 6.4% during 2020–2030. According to P&S Intelligence, the market revenue stood at $3,832.4 million in 2019, and it is projected to reach $7,469.6 million by 2030.

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Nowadays, the end-use industries have been largely focusing on using environment-friendly coding technologies to protect the environment from the detrimental effects of the hazardous solvents, such as MEK, used in printing materials. A shift from such hazardous solvents toward environment-friendly ones helps in reducing volatile organic compound (VOCs) emission and preventing smearing. As the printing materials used in these systems are governed by the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) committee and the Restriction of Hazardous Substances Directive (RoHS), manufacturers of such systems are also focusing on dealing with the odor issue associated with printing consumables.

The surging requirement for environment-friendly coding and marking systems and associated consumables is being met by Dover Corporation, ID Technology LLC, Danaher Corporation, Hitachi Ltd., ATD Ltd., Overprint Packaging Ltd., Domino Printing Sciences plc, Diagraph Group, Matthews International Corporation, and Inkjet Inc. The rising emphasis of these companies on expanding their portfolio has led to the widening of their customer base. At present, these companies provide continuous inkjet, thermal inkjet, thermal transfer overprinting, drop-on-demand, laser coding and marking, and print and apply labeling technologies to their clientele.

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Geographically, Asia-Pacific (APAC) dominated the coding and marking systems market in the recent past, and it is expected to retain its position in the coming years as well. This can be credited to the rising food production, toughening government regulations regarding printing materials, and surging export of packaged food items from the region. Moreover, the soaring penetration of piracy and counterfeiting in most of the industries of APAC will fuel the adoption of coding and marking systems in the forthcoming years.

Thus, the booming demand for packaged food items and beverages and increasing penetration of counterfeit automotive parts will amplify the usage of coding and marking systems in the foreseeable future.

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