Global Inkjet Coders Market Size, Share & Industry Trends Analysis Report By Type (CIJ Coder, Drop on Demand (DOD), TIJ Coder and Others), By Application, By Regional Outlook and Forecast, 2023 - 2029
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Get in-depth analysis of the COVID-19 impact on the Inkjet Coders Market
Market Report Description
The Global Inkjet Coders Market size is expected to reach $2.6 billion by 2029, rising at a market growth of 5.3% CAGR during the forecast period.
A wide variety of objects can be marked and coded using inkjet technology, which is dependable and economical. The packaging business is the one that most frequently employs inkjet coders to distinguish products. These non-contact printing coders can create dates and batch numbers and time any information to a range of packaging products such as cartons, containers, labels, etc. Inkjet coders are utilized for marking purposes in various industries, including personal care, automotive, food & beverage, pharmaceutical, and electronics.
Inkjet coders are less expensive but require more maintenance, whereas laser coders are expensive but require little maintenance. For affordable color printing, inkjet coders are suggested because they are affordable. Laser coders can replace inkjet coders. Different chambers with various colors of ink make up inkjet coders.
The three inkjet technologies utilized in the packaging sector for coding applications are Continuous Inkjet (CIJ), Drop on Demand (DOD), and Thermal Inkjet (TIJ). The drop-on-demand printing method employs aqueous or UV-curable inks to print on various goods; it has several chambers holding ink. A reliable and non-contact form of coding is a continuous inkjet. On various main packaging, CIJ coders' small characters produce expiration dates, graphics, lot codes, and bar codes.
In contrast, their huge characters produce the same for secondary packaging, such as cartons. Utilizing print cartridges are thermal inkjet coders. High-speed coding for serialized data is used in these devices, which have several tiny electrically heated chambers that can be operated via a flex circuit. In addition, high-grade two-dimensional "symbologies," like DataMatrix codes, are frequently produced using (TIJ) technology. Typically, TIJ coders work in sectors like medicines, tobacco, health, and cosmetics.
COVID-19 Impact Analysis
The market for inkjet coders has grown more slowly due to the widespread transmission of the coronavirus disease. Additionally, many enterprises globally were brought to a standstill due to COVID-19. COVID-19 has had a detrimental impact on the inkjet market, but the market will rebound if useful business growth plans are adopted. The fast expansion of the food & beverage, pharmaceutical, and protective equipment industries is also a major factor in the market for inkjet coders. In pandemics, several important market actors have stepped forward to address the problems caused by the COVID-19 pandemic.
Market Growth Factors
Growing need of label printing in pharmaceutical industries
The label must contain the name and address of the maker, packer, or distributor. It must also come with proper usage instructions that outline the conditions and objectives, the dosage, the timing, and the administration route for the medicine. Generally, the exterior packaging and the interior container must display the drug's expiration date. Label statements should also be displayed prominently and clearly. The lot number, often known as the batch number on the label, should provide the item's complete production history. The increased use of label printing in medicines is expected to promote market expansion.
Grown demand for products with detailed labels and packaging
Manufacturers of coding and marking systems have a good opportunity due to regulatory regulations for the food & beverage sector addressing information display or labeling. The industry expands due to the acceptability and knowledge of such high-quality codes & marks for swiftly and effectively printing information on food products. Manufacturers in the high-speed, high-output beverage industry are coping with evolving consumer behavior that may affect operational effectiveness. PET bottles are gradually being replaced by bottles made of other materials, like completely recyclable aluminum. This is estimated to raise the need for inkjet coders amongst industry verticals.
Market Restraining Factors
Require high maintenance and high cost of ink refills
Inkjet coders need frequent maintenance since the printheads have to be periodically cleaned. The amount of usage a person makes of the printer also affects how frequently this task needs to be done, although even if it is only used occasionally, the printheads still need to be cleaned around every three months. As a result, using an inkjet coder can be more expensive, especially if the business needs to regularly print a lot. In addition, it costs money to reload inkjet coders. Inkjet cartridges may be quite expensive, with good cartridges for a respectable printer costing almost as much as the machine. Therefore, these factors are projected to slow down the market's expansion for inkjet coders throughout the upcoming years.
Based on type, the inkjet coders market is characterized into CIJ coder, DOD Inkjet coder, TIJ coder, and others. The DOD inkjet coder segment covered a considerable revenue share in the inkjet coders market in 2022. This expansion is attributed to the advantages in terms of functionality, less downtime from fewer moving parts, and flexibility, which allows liquid to be ejected from the printer only when a drop is needed. Large character code is required for printing on porous materials like corrugated metal, boxes, varnished cartons, wood, and other porous materials; hence these printers are typically employed for those tasks.
On the basis of application, the inkjet coders market is classified into food industry, medical application, cosmetic industry, automobile industry, pipes, wires, & cables, packing industry, and others. The medical application segment projected a prominent revenue share in the inkjet coders market in 2022. Inkjet printers are commonly used in the medical sector to print on surfaces of medical devices that demand high durability and accuracy. The exterior of medical equipment can be printed with codes using the inkjet coder. The printed code enables users to properly operate an electrical stimulation tool, an ultrasound machine, and other patient care equipment.
|Market size value in 2022||USD 1.8 Billion|
|Market size forecast in 2029||USD 2.6 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 5.3% from 2023 to 2029|
|Number of Pages||189|
|Number of Table||310|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the inkjet coders market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe region led the inkjet coders market by generating the inkjet coders market. The dominance may be due to the existence of sizable manufacturing sectors across the many industrial verticals. In addition, the region is witnessing significant developments in the healthcare and medical technology industry which is further predicted to raise the demand for inkjet coders.
Free Valuable Insights: Global Inkjet Coders Market size to reach USD 2.6 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Markem-Imaje (Dover Corporation), ANSER CODING INC., ITW Diagraph (Illinois Tool Works), KGK Jet India Private Limited (KGK Jet), Kiwi Coders Corporation, Linx Printing Technologies (Danaher Corporation), Shanghai Rottweil Handyware Printing Technology Co., Ltd, Squid Ink Manufacturing, Inc. (Engage Technologies Corporation), Xaar plc and ID Technology LLC (ProMach Inc.).
Recent Strategies deployed in Inkjet Coders Market
- Dec-2022: Xaar Plc expanded its business by opening a state-of-the-art inkjet printing laboratory in Shenzhen, China. This expansion aims to offer a variety of services to Xaar's customers and partners in China, including scientific research institutions in various categories like waveform adjustments for new applications, solution development, sample printing, etc. This expansion would help the company to partner with local electronics companies, which in turn would increase the company's coordination across the industry supply chain.
- Nov-2022: Xaar Plc released its new printhead named Xaar Aquinox. This product is part of Xaar’s ImagineX platform and is based on aQ power technology which makes it capable of coping with an extended working range of pH levels using water-capable materials. Along with this the product also comes with increased nozzle open time, energy efficiency, and improved print quality.
- Apr-2022: Markem-Imaje (MI) introduced its new hybrid coder named 9750+ continuous inkjet (CIJ). This new product would help the customers by reducing their inventory needs of inks and pigments and by cutting their costs. It provides flexibility to deliver premium legibility and permanence color contrasted codes with the help of pigments and dyes along with the standard dark ones.
- Mar-2022: Xaar acquired Megnajet, a company engaged in designing and manufacturing industrial ink management along with supply systems for digital inkjet. This acquisition would provide more integration across inkjet solutions with a more accessible printing ecosystem to customers of Xaar specifically User Developer Integrators (UDIs), which would shorten their time to market and decrease the development time.
- Jan-2022: Markem-Imaje released its new touch Dry high-resolution inkjet coder named 5940 G in North America. The printer provides high resolution, label-free, branding and text on packages along with grade C or better level of print.
- Sep-2021: Xaar Plc launched its new printhead named Xaar Irix, which comes in two different variants core and Pro respectively, the core variant is based on solvent-based inks and the pro variant is more focused on print quality. The product is powered by the company’s ImagineX platform and is designed to be lightweight, easy to use with a compact footprint.
- Oct-2020: Markem-Imaje took over Solaris Laser S.A., a provider and supplier of advanced fiber, ultraviolet, and CO2 laser systems used for product marking and coding in industrial and packaging applications across a broad range of end markets. This acquisition would enhance Markem-Imaje’s laser technology product line which would lead to better completion of the growing customer demand for laser coding technologies.
Scope of the Study
Market Segments Covered in the Report:
- CIJ Coder
- Drop on Demand (DOD)
- TIJ Coder
- Food Industry
- Medical Application
- Packing Industry
- Cosmetic Industry
- Automobile Industry
- Pipes, Wires, & Cables
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Markem-Imaje (Dover Corporation)
- ANSER CODING INC.
- ITW Diagraph (Illinois Tool Works)
- KGK Jet India Private Limited (KGK Jet)
- Kiwi Coders Corporation
- Linx Printing Technologies (Danaher Corporation)
- Shanghai Rottweil Handyware Printing Technology Co., Ltd
- Squid Ink Manufacturing, Inc. (Engage Technologies Corporation)
- Xaar plc
- ID Technology LLC (ProMach Inc.)
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North America Inkjet Coders Market Report 2023-2029
Europe Inkjet Coders Market Report 2023-2029
Asia Pacific Inkjet Coders Market Report 2023-2029
What would be the size of this Market by 2029?
The Market size is projected to reach USD 2.6 billion by 2029.
What are the key driving factors and challenges in this Market?
Grown demand for products with detailed labels and packaging are driving the Market in coming years, however, Require high maintenance and high cost of ink refills restraints the growth of the Market.
What are the major top companies in the competitive landscape?
Markem-Imaje (Dover Corporation), ANSER CODING INC., ITW Diagraph (Illinois Tool Works), KGK Jet India Private Limited (KGK Jet), Kiwi Coders Corporation, Linx Printing Technologies (Danaher Corporation), Shanghai Rottweil Handyware Printing Technology Co., Ltd, Squid Ink Manufacturing, Inc. (Engage Technologies Corporation), Xaar plc and ID Technology LLC (ProMach Inc.).
Which segment is leading the Market in 2022?
The Food Industry segment is leading the Market by Application in 2022 thereby, achieving a market value of $606 million by 2029.
Which region dominated the Market in 2022?
The Europe market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $857.4 million by 2029.