After doing a detailed market study based on different primary and secondary data sources, the market experts estimate that the global Industrial Labels Market Size will grow at a Compound Annual Growth Rate (CAGR) of 5.4% during the period 2022-2028.
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Industrial labels have multifaceted uses. They are used to provide information about the product. Additionally, they are used for visual appeal, advertisement, and security. They are manufactured with paper, plastic, or fabric. Industrial labels can be customized to any size and shape so they are used in a wide array of industries.
Due to the imposition of strict lockdown during the COVID-19 pandemic, the global Industrial Labels Market had to face supply chain disruptions, lack of raw materials, labor shortages, high production price, shipping problems, and others.
The major companies and the governments of various countries are taking initiatives to overcome the losses during the pandemic and have steady growth in the coming years.
Market segmentation of the global Industrial Labels Market is done based on printing technology, end-users, material, type, mechanism, and region.
Based on the type of mechanism used in the industrial labels, they are categorized into pressure-sensitive, heat transfer, glue applied, and others.
Based on the type of printing technology used for printing the industrial labels, it is further divided into lithography, flexography, digital printing, screen printing, and others.
Based on the application sector or end-users, the market is categorized into food and beverage, automotive, construction, transportation, electronics, and others. During the forecast period 2022-2028, the food & beverage sector is expected to dominate the market share.
Based on the types, the market is segmented into branding labels, weather-proof labels, security labels, equipment asset labels, and others. The security labels sector is expected to show the highest CAGR compared to the other sectors.
Based on the material, the Industrial Labels Market is segmented into polymer and metal. The highest market share will be occupied by the polymer sector.
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The entire Industrial Labels Market is segmented into regions- Asia Pacific, Europe, North America, and Africa & Middle East. The largest Industrial Labels Market Share is held by the North American region. This region will dominate the market during the forecast period due to supportive government initiatives and increased consumer awareness.
The fastest-growing region is Asia-Pacific. The key market drivers of this region are increasing population, higher production of consumer goods, and surge in the E-commerce platform. Another region that is expected to do well is the European region.
Innovations in the market of Industrial labels will open up growth opportunities during the forecast period. Companies are making huge investments for research and development work, adoption of the latest technologies, and business expansion to help the global Industrial Labels Market grow steadily in the coming years.
In August 2020, Fresenius Kabi had announced the introduction of smart labels to be used for a range of medicines.
To increase the efficiency of the company, 3M Company had launched a new technology, Versatile Print Label Materials that can be used on different print platforms, in 2019.
In January 2020, CCL Industries Inc., a Toronto-based company that provided security, specialty label, and packaging solutions had acquired two companies in Spain that make labels for different types of products including clothing.
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