Dublin, March 08, 2021 (GLOBE NEWSWIRE) -- The "Packaging and ICT Industry Convergence Propels Advancement of the Global Smart Label Materials Market" report has been added to ResearchAndMarkets.com's offering.
The publisher estimates the global market for smart label materials at USD1,170.0 million in 2020, growing at a compound annual growth rate (CAGR) of 5.8% between 2020 and 2027 on account of increasing adoption from various industries.
The global smart label materials market report analyzes the growth drivers, challenges, and trends that affect participants in this space. The study period is 2017 to 2027 using a base year of 2020 and a forecast period of 2021 to 2027.
A smart label is a developed version of a label with extended functionalities, such as use of technology and sensors. Consumers are able to interact with smart labels by using mobile devices, such as a smartphone. The smart labels considered in this study include radio frequency identification (RFID) labels, electronic article surveillance (EAS), sensing labels, dynamic display, and quick response (QR) codes. These labels utilize the principles of near field communication (NFC) and have in-built sensors and chips for interaction with nearby devices.
Increased demand for smart labels resulted from advancements made in digital printing technology and Industrial Internet of Thing (IIoT) components such as sensors, antennae, and chipsets. IoT has penetrated various industries during the last decade, and devices have become smarter and able to interact with each other by means of NFC.
This advancement is expected to accelerate growth for smart label applications. The end industries covered in this research are healthcare and pharmaceuticals, automotive, logistics (including warehouse and transportation), retail, and others (recycling, food & beverage, manufacturing, and aerospace). The major materials used to manufacture a label include coatings, adhesives, substrates, and thermal inks.
Demand for smart label materials is expected to be driven by adoption of smart labels in the pharmaceutical and healthcare industries. In the next few years, prices for smart labels will decrease, leading to increased use by micro, small, and medium-sized enterprises (MSMEs) and price-sensitive industries, such as food and beverages and plastic recycling.
Of note, governments across the globe are focused on reducing carbon emissions and promoting sustainability and recyclability of materials used in day-to-day activities, which is expected to drive the adoption of certain raw materials for smart label manufacturing.
For instance, solvent-based products are gradually being replaced by solvent-free or water-based products to reduce volatile organic compound (VOC) emissions from labels.
Key Issues Addressed
- What are the product chemistry and end-use application trends in the smart label materials market?
- What are the major challenges that participants in the smart label materials market face?
- What are the key factors that drive and restrict growth in this market?
- What are the major smart label end-industry applications?
- Who are the key market participants?
- What are the regional trends in the market?
Key Topics Covered:
Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on Smart Label Materials Market
- Growth Opportunities Fuel the Growth Pipeline Engine
- Growth Opportunity Analysis, Smart Label Materials Market
- Smart Label Materials Market Overview and Scope
- Market Segmentation-Product Types
- Market Segmentation-Material Type
- Geographic Scope
- Key Questions This Study Will Answer
Key Trends, Regulations, and Drivers and Restraints for Smart Label Materials Market
- Key Trends
- Smart Label Materials Market-Regulations
- Growth and Challenges Impact Assessment Summary
- Growth Drivers
- Growth Drivers Analysis
- Growth Restraints
- Growth Restraints Analysis
Forecast, Smart Label Materials Market
- Forecast Assumption Factors, Smart Label Materials Market
- Revenue and Unit Shipment Forecast, Smart Labels
- Revenue and Unit Shipment Forecast Analysis, Smart Labels
- Percent Unit Shipment Forecast by Industry Vertical, Smart Labels
- Percent Unit Shipment Forecast Analysis by Industry Vertical, Smart Labels
- End Industry Mapping for Smart Labels
- COVID-19 Impact on Key End-use Industries
- Key Growth Metrics for Smart Label Materials Market
- Revenue and Volume Shipment Forecast, Smart Label Materials Market
- Price Trends, Smart Label Materials Market
- Volume Forecast by Material Type, Smart Label Materials Market
- Revenue, Volume Shipment, and Price Forecast Analysis, Smart Label Materials Market
- Volume Forecast by Region, Smart Label Materials Market
- Volume Forecast Analysis by Region, Smart Label Materials Market
- Value Chain for Smart Label Materials Market
- Value Chain Analysis for Smart Label Materials Market
- Key Competitors, Smart Label Materials Market
- Competitive Environment, Smart Label Materials Market
Growth Opportunity Analysis, Smart Label Substrates Market
- Segment Overview
- Key Growth Metrics for Substrate Market for Smart Labels
- Revenue and Volume Shipment Forecast, Substrate Market for Smart Labels
- Revenue and Volume Shipment Forecast Analysis, Smart Label Substrates Market
- Volume Shipment Forecast by Substrate Type, Smart Label Substrates Market
- Volume Shipment Forecast Analysis by Substrate Type, Substrate Market for Smart Labels
- Pricing Forecast, Substrate Market for Smart Labels
- Pricing Forecast Analysis, Substrate Market for Smart Labels
- Revenue Share, Substrate Market for Smart Labels
- Competitive Environment, Substrate Market for Smart Labels
Growth Opportunity Analysis, Smart Label Adhesives Market
Growth Opportunity Analysis, Smart Label Coatings Market
Growth Opportunity Analysis, Smart Label Inks Market
Growth Opportunity Analysis, Smart Label Materials Market, Americas
Growth Opportunity Analysis, Smart Label Materials Market, Europe
Growth Opportunity Analysis, Smart Label Materials Market, Asia-Pacific
Growth Opportunity Analysis, Smart Label Materials Market, MEASA
Growth Opportunity Universe, Smart Label Materials Market
- Growth Opportunity 1-Increasing Adoption of Smart Labels from the Healthcare Industry, 2020
- Growth Opportunity 2-Increasing Adoption of Smart Labels from the Food & Beverage Industry, 2020
- Growth Opportunity 3-Optimizing Prices of Conductive Inks for Improved Market Penetration, 2020
- Growth Opportunity 4-Thin Films for Thinner Smart Labels, 2020
Appendix
Companies Mentioned
- 3M
- Arkema
- Avery Dennison
- CCL Industries
- DuPont
- Guangcai Label
- HB Fuller
- Henkel
- Hirokawa
- Huhtamaki
- Shingi
- Sun Chemicals
- Tesa
- Tullis Russel
- UPM Raflactac
- Xinxiang Honglian Printing
For more information about this report visit https://www.researchandmarkets.com/r/vs9pfa