New York (US), May 04, 2023 (GLOBE NEWSWIRE) -- Laser Sensitive Pigments Industry Overview
The MRFR study reports imply that the “Laser Sensitive Pigments Market Research Report Information by Region and End-Use - Forecast Till 2030,” the global Laser Sensitive Pigments market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 5.1%. The reports further predict the market will acquire nearly USD 2.08 billion by the end of 2030. As per the documents, the Laser Sensitive Pigments market was valued at nearly USD 1.33 billion in 2022.
Market Scope:
The global Laser Sensitive Pigments industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing usage in the end-use industry. Furthermore, the growing trend of the lean manufacturing operation is also predicted to enhance the performance of the market over the assessment period. Furthermore, factors such as trend of digital printing, rising plastic production, and increasing plastic packaging industry are also likely to boost the market's growth over the coming years.
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Competitive Analysis
The listing of the prominent leaders across the global market for Laser Sensitive Pigments includes players such as:
- Datalase Ltd.
- Siegwerk
- Merck KGaA
- Flint Group
- Bodo Möller Chemie GmbH
- Sun Chemical
- Eckart NAFTA
- Gabriel-Chemie
- Shenzhen Liying Plastic Chemical Co., Ltd
- Peter Huber Kältemaschinenbau AG
- ACTEGA ATS
- Uvitec Ltd
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2.08 billion |
| CAGR | 5.1% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Augmented usage in end-use industry and growing trend of lean manufacturing operation strategic investment in R&D by major manufacturers |
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Market USP Covered
Market Drivers
The global Laser Sensitive Pigments industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing usage in the end-use industry. Furthermore, the growing trend of the lean manufacturing operation is also predicted to enhance the performance of the market over the assessment period. Furthermore, factors such as trend of digital printing, rising plastic production, and increasing plastic packaging industry are also likely to boost the market's growth over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high initial costs.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Laser Sensitive Pigments market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis
Among all the end-use industries, the Packaging segment secured the leading position across the global market for Laser Sensitive Pigments in 2021 with the largest contribution of around 41.29%. The industry will also likely showcase the fastest growth over the coming years. Furthermore, the packaging industries have collaborated with science and tech organizations to develop plastic bottle caps with laser-sensitive pigments. In addition, because of digitalization, the global retail industry and e-commerce websites are also likely to boost the segment's development over the coming years.
Regional Analysis
The global market for Laser Sensitive Pigments is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global Laser Sensitive Pigments industry in 2021, with the largest revenue share of around USD 0.63 billion. The regional market is anticipated to grow substantially over the assessment period, with a healthy growth rate of around 5.8%. The region is known to have the biggest automobile market. It comprises developing nations such as India and China and developed nations such as South Korea and Japan, which is considered the primary parameter supporting regional market development. Furthermore, factors such as rapid industrialization in this region, a growing packaging industry, a rise in the middle-class population, global consumer spending, and growth of the textile & plastic industries are projected to enhance the regional market performance over the coming years.
The European regional market for Laser Sensitive Pigments is anticipated to secure the largest share across the globe mainly because of the rapidly growing leather industry across the region, giving rise to several new opportunities in the market and boosting product consumption in leather such as footwear, clothes, automotive, and other leather products. Furthermore, the real estate market across the region is growing substantially, coupled with the increase in demand from the paint & coating industries are also projected to enhance the performance of the regional market over the coming years.
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The North American Laser Sensitive Pigments Market is anticipated to grow rapidly over the coming years, owing mainly to the high employment rate and rapidly increasing GDP. Furthermore, factors such as trend of digital printing, rising plastic production, and increasing plastic packaging industry are also likely to boost the regional market's growth over the coming years. The rapidly growing textile industry across the US will also likely contribute to developing the regional market over the coming years.
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