New York City, NY, 31 January, 2020/ 24 Market Reports: Valued at USD 1.3 billion in the year 2018, the global inkjet market is estimated to witness the growth at a CAGR of 5.7% during the forecast period of 2019 to 2025. The growing emphasis on anti-counterfeiting strategies, compliance with stringent labelling regulation, and product traceability are the factors that are driving the growth of the market during the forecast period. In the printing of dates, batch numbers and time on a variety of packaging products such as containers and cartons the use of inkjet coders take place.
Continuous Inkjet (CIJ) coder, Drop on Demand (DOD) inkjet coder, Thermal Inkjet (TIJ) coder and others are the segmentation for the inkjet coders market based on the type. During the forecast period, it is estimated for the TIJ coder segment to grow at the fastest rate in the market. The low cost of maintenance, high print quality and resolution and minimal release of volatile organic compounds are the factors that are driving the growth for the TIJ segment. Sealed cartridge-based systems for ink delivery are also been offered by the TIJ coders that make replenishment simple and also eliminated the possibility of the spills. This factor is driving the growth of the market for the segment over the forecast period.
Based on application, the food industry accounted for the highest share in the market in the year 2018 and the trend is estimated to continue throughout the forecast period. For all the players involved in the back chain, the food industry is been expected to offer sound growth opportunities on the back of the increasing volume of food products being manufactured/processed daily. The consumers can read and comprehend the information of what they are consuming due to the marking and coding in the food industry. Nutritional information, expiry dates, alcohol content and potential allergens are the inclusions for the information printed on the product. Medical applications, cosmetic industry, automobile industry, and the tobacco industry, among others are the other verticals where the coders are been used.
However, the factors such as high running costs and low quality of marks that result in non-permanent marks are projected to hamper the growth of the global inkjet coders market during the forecast period. The laser coders result in a higher resolution than inkjet printers and are a primary substitute for them as these inkjet printers also spill tiny droplets of ink while coding, resulting in a lower resolution than its competitor. These factors are estimated to slow down the market growth for inkjet printers. However, cost-effectivity and easy integration, which are expected to reduce the effect of challenges on the market, eventually are the advantages for these printers over the laser coders.
During the forecast period, it is estimated for Europe to hold the highest share in the inkjet coders market. The region also held the highest share in the year 2018. The presence of large manufacturing sectors across different industry verticals is the reason for the growth of the market in the region during the forecast period. Also, during the forecast period, it is estimated for the Asia Pacific region to witness significant growth in the market.