In 2020, the global Laser Coders Market had a strong size and is expected to maintain a steady revenue CAGR throughout the forecast period. The growth of the market is primarily driven by the increasing adoption of laser marking in various end-use industries such as automotive, chemicals, aerospace, pharmaceuticals, construction, beverages, and cosmetics. Other factors contributing to the market's revenue growth include technological advancements, rapid urbanization, and rising investments by market players to develop innovative solutions that enable high-quality marking with enhanced traceability.
Laser coding technology is a non-contact printing process that accurately marks and labels items by removing the surface coating from the container or product, leading to permanent alterations on the surface of the object. Laser coding does not involve harmful inks or chemicals, making it a low-cost, low-maintenance, and environmentally friendly form of product labeling. The laser coder program enables consumers to easily modify and erase text, add images, and apply bar codes, among other things.
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The market dynamics of the global laser coders market are driven by various factors, including the increasing usage of laser marking in a variety of end-use applications for labeling purposes and the preference for laser coders over older material marking techniques due to their superior performance, lower maintenance costs, and eco-friendly nature. However, factors such as the high initial capital cost incurred on the setup, limited technological advancements in coding and marking applications, and availability of substitutes such as thermal inkjets and continuous inkjets are expected to negatively impact the market revenue growth to some extent over the forecast period.
Key companies in the global laser coders market include:
Dover Corporation, Danaher, ProMach, Squid Ink, Solaris Laser, Dalemark Industries, Videojet, InkJet, Domino, Hitachi, Videojet, Telesis Technologies, Matthews Marking Systems, and Han's Laser.
Drivers:
- Rising adoption of laser marking in various end-use verticals such as automotive, chemicals, aerospace, pharmaceuticals, construction, beverages, and cosmetics.
- Technological advancements in laser coding technology.
- Rapid urbanization.
- Rising investments by market players to develop and introduce innovative solutions that help in high-quality marking with enhanced traceability.
- Supportive initiatives by governments and other organizations such as the Food and Drug Association (FDA) to promote permanent identifying mark solutions from manufacturers to improve product traceability.
Restraints:
- High initial capital cost incurred on the setup.
- Limited technological advancements in coding and marking applications.
- Availability of substitutes such as thermal inkjets and continuous inkjets.
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