According to the latest report, the global industrial labels market size is valued at 60.3 billion sq.m in 2020 and is estimated to grow at a significant CAGR of 4.5% along with market size of 78.5 billion sq.m during the forecast period 2021-2027.
Industrial labels are used to provide product-related information which is very useful to product manufacturers as knowing the information related to the supply chain, product origin, disposal, and other things is a very essential part of the manufacturers. The label also enhances the product’s appearance. Industrial labels are of any type of plastic, fabric, paper, and other materials that are applied to the product for visual identification, textual information, advertising, or instructions on the product. These labels are composed of RFID, flexography, barcode, offset, and digital printing, and come with various other features like moisture resistance, dust resistant, pressure-resistant, high-temperature resident, and anti-peel properties.
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Industrial labels help the product manufacturers to gain a competitive advantage over other competitors. These labels can be customized in various sizes, and shapes for using it in a wide range of applications. Moreover, these labels can fulfill any specific requirement. Counterfeiting is a vital problem that affects the manufacturer’s revenue and sales. This counterfeiting problem was reduced by the industrial labels with barcodes or codes on the different types of industrial labels. Furthermore, these labels provide information regarding the identification of brand, and products specification, and also improve the aesthetics of the product.
The industrial labels market opportunities are rapid growth of population is enhancing the production of consumer goods and leading to rising in the adoption of industrial labels.
Market SegmentationThe industrial labels market is sectioned into five major segments based on type, end-use industry, printing technology, material, and mechanism.
Type Segmentation: The industrial label types are various forms such as security labels, weatherproof labels, branding labels, equipment asset tags, and others.
End-use Industry Segmentation: By end-use industry, the industrial label market is divided into various types like automotive, consumer durables, transportation, construction, and others.
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Material Segmentation: Based on the material, the industrial label market is split into metal and polymer.
Printing Technology Segmentation: The industrial label market by printing technology is categorized into a few forms such as lithography, screen printing, flexography, and others.
Mechanism Segmentation: The industrial labels mechanisms are partitioned into pressure-sensitive, glue applied, heat transferred, and others.
Regional AnalysisBased on the latest information received, the global industrial labels market based on regions is segregated into four major regions such as Asia-Pacific, North America, Europe, and the Middle East & Africa. Out of these regions, North America is dominating the largest market share due to the rising consumer awareness and government initiatives. The Asia-Pacific region is said to be the fastest-growing region due to the presence of highly populated countries like India and China.
The industrial labels market key vendors are Cannon Inc. (U.S), HP inc.(U.S), Canvo Corporation (U.S), Dunmore Corporation, Xerox Corporation (U.S), Fuji Seal International Inc., and others.
Industry NewsAs per the latest news, the global industrial labels market forecast is predicted to grow at a significant rate due to the introduction of innovations like smart labels launched by Fresenius Kabi in Barcelona for a range of medicines in August 2020.
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