MarketsandMarkets™ Analyzes Impact of COVID-19 on Industrial Labels Market| Cenveo Corporation, DUNMORE, Henkel AG & Co. KGaA, H.B. Fuller, 3M, Fuji Seal International, Inc.
The report “Industrial Labels Market by Type (Warning, Asset Tags), Material (Polymer, Metal), Industry (Transportation, Automotive), Mechanism (Pressure-sensitive, Glue-applied), Printing Technology, Identification Technology, and Region – Global Forecast to 2021″, The market for industrial labels is projected to grow from USD 43.04 Billion in 2016 to reach USD 55.95 Billion by 2021, at a CAGR of 5.39%. The market for industrial labels is growing due to increasing demand in end-use industries such as construction, automotive, consumer durables, transportation & logistics, and aerospace & defense.
Warning/security labels type gain maximum traction during the forecast period
Warning/security labels type is highly preferred because of a variety of reasons such as to attract attention to warnings, to identify risks/hazards involved, to convey security messages, and to provide product-related information. These labels are highly used at the manufacturing sites such as automotive, construction, manufacturing, and marine to maintain a safe working environment.
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Transportation & logistics segment is projected to grow at the fastest rate during the forecast period
The industrial labels market is segmented on the basis of end-use industry into transportation & logistics, construction, automotive, consumer durables, and others. In 2015, the transportation & logistics segment accounted for the largest share of the end-use industry segment and is projected to grow at the highest CAGR during the forecast period. The increasing e-commerce, online shopping businesses, increasing supply chain & warehousing industry, and governments’ initiatives to propel FDI have encouraged the industrial labels market to grow.
Asia-Pacific to play a key role in the market for industrial labels
On the basis of key regions, the market for industrial labels is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The low labor costs, excellent industrialization, a huge scope for FDI, emerging economic conditions, stable government scenarios, and an excellent hold on industries such as construction, automotive, consumer durables, logistics, marine, and aerospace have played a crucial role in the growth of the market for industrial labels in the Asia-Pacific region.
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The key players considered in the report are: E. I. du Pont de Nemours and Company (DuPont) (U.S.), CCL Industries Inc. (Canada), Avery Dennison Corporation (U.S.), Brady Corporation (U.S.), Cenveo Corporation (U.S.), DUNMORE (U.S.), Henkel AG & Co. KGaA (Germany), H.B. Fuller (U.S.), 3M (U.S.), Fuji Seal International, Inc. (Japan) and Others.
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