The North America Inkjet Coders Market would witness market growth of 5.1% CAGR during the forecast period (2023-2029).
It is projected that technological advancements in inkjet coders, like improvements in software that regulates and monitors ink viscosity or automatic flush systems that help reduce time by pausing and cleaning daily print heads, will generate significant growth possibilities for the market for inkjet coders. In addition, many firms are looking for high-performance printing and coding equipment, leading to considerable growth and investment prospects for market participants for inkjet coders.
One of the biggest problems affecting the planet is environmental sustainability. The production facilities of numerous small to major industrial enterprises strive to be environmentally friendly. Thermal inkjet printing is regarded as a more environmentally friendly method among the several technologies used in the coding & marking industry.
The factory floor can have more room due to the smaller footprint that TIJ printers provide. Additionally, compared to CIJ printing, it uses less energy while working and emits fewer volatile organic compounds (VOCs). Unlike CIJ, TIJ doesn't call for a solvent solution to wipe, purge, or otherwise clean the printer. As a result, TIJ outperforms the other coding and marking systems in some of these operations over the long term.
Mexico is one of the largest marketplaces for pharmaceuticals in the world. According to market value, patented medications account for 51% of the pharmaceutical industry in Mexico, followed by generic medications at 35% and over-the-counter medications at 14%. The expansion of Mexico's pharmaceutical business is aided by the biosimilars industry's growth, whose sales are expected to increase in the coming years. Since the publication of new guidelines for bio-comparable medicines, the biosimilar subsector and regional R&D production have significantly improved. Therefore, with an increase in pharmaceutical production and sales in the region, the requirement for inkjet coders by the pharmaceutical industry would also increase.
The US market dominated the North America Inkjet Coders Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $581 million by 2029. The Canada market is poised to grow at a CAGR of 7.5% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 6.6% during (2023 - 2029).
Based on Type, the market is segmented into CIJ Coder, Drop on Demand (DOD), TIJ Coder and Others. Based on Application, the market is segmented into Food Industry, Medical Application, Packing Industry, Cosmetic Industry, Automobile Industry, Pipes, Wires, & Cables and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Inkjet Coders Market is Projected to reach USD 2.6 Billion by 2029, at a CAGR of 5.3%
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.).
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