Laser Sensitive Pigments Market Analysis

Global Laser Sensitive Pigments Market Overview

Laser Sensitive Pigments Market Size was valued at USD 1.33 billion in 2021. The Laser Sensitive Pigments market industry is projected to grow from USD 1.40 Billion in 2022 to USD 2.08 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.1% during the forecast period (2022 - 2030). Augmented usage in end-use industry and growing trend of lean manufacturing operation and strategic investment in R&D by major manufacturers is driving growth in the laser sensitive pigments market.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Laser Sensitive Pigments Market Trends

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  Augmented usage in end-use industry and growing trend of lean manufacturing operation

  
  

Laser sensitive pigment marking has been used in various industries for packaging which include automotive, electronics, medical, and consumer goods. The manufacturers of different industry use laser sensitive pigment ink for direct part marking to identify their components, and the marking can be done in various forms such as date codes, product name, bar codes, part numbers and company logos. It plays a significant role in enabling product traceability, product unique identification and product counterfeiting. Additionally, laser sensitive pigment inks are widely used to mark substances such as glass, ceramics, plastics, metals, stainless steel, and organic material, which ultimately helps to stimulate the growth of global laser sensitive pigment market in the years to come. Moreover, the packaging is the largest and fastest-growing end-use industry in the Laser Sensitive Pigments Market. In addition, packaging companies have partnered with science and technology companies to make plastic bottle caps with laser sensitive pigments. Furthermore, factor such as digitization, the proliferating retail industry across the globe, and e-commerce portals are likely to positively influence the demand for packaging, which in turn will drive the target market growth.

In line with this, laser sensitive pigment solution manufacturers face the challenge of a highly dynamic and interactive business environment. Various manufacturers that have traditionally delivered manufactured goods should streamline their processes and focus on their customers' rapidly changing needs and their suppliers' capabilities. The capability to deliver quality and cost-effective products & solutions determines the success of the global laser sensitive pigment manufacturer and end-use industries. Lean manufacturing has emerged as a successful way for manufacturers to focus on customer demand, increasing competitiveness, and customer satisfaction. The lean operation involves removing and minimizing non-value-added work activity from the manufacturing process. Lean operation is considered an essential attribute of a successful manufacturing endeavor. Various laser sensitive pigment solution manufacturers are turning to lean manufacturing practices and using this as an opportunity to create a sustainable competitive advantage. Implementing lean management principles in laser sensitive pigment production can increase efficiency and reduce project costs. Thus, Augmented usage in end-use industry and growing trend of lean manufacturing operation is a factor driving the growth of the Laser Sensitive Pigments market revenue.

Laser Sensitive Pigments Market Segment Insights

Laser Sensitive Pigments End-use Industry Insights

The Laser Sensitive Pigments Market segmentation, based on end-use industry, includes Packaging, Automotive, Consumer Goods, and Others. The Packaging segment held the majority share in 2021 contribution to around ~41.29% in respect to the Laser Sensitive Pigments Market revenue. In the Laser Sensitive Pigments Market, packaging is the largest and fastest-growing end-use industry. Moreover, packaging industries have collaborated with science and technology firms to develop plastic bottle caps containing laser sensitive pigments. Additionally, as a result of digitalization, the global retail industry and e-commerce websites are expected to favourably affect packaging demand.

March 2022: DataLase launched a UV offset (UVO) litho metal decoration coating, designed for use on offset litho presses equipped with UV curing units. DataLase UVO litho metal decoration formulations have been improved to provide unrivalled product stability and excellent flow characteristics. It is possible to achieve consistent high quality, high contrast, permanent black-on-white coding when used in conjunction with an appropriate CO2 laser marking system. Brands can enhance the traceability of their products with DataLase UVO litho metal decoration, and the solution's tamper-proof and anti-counterfeit features can help advance product security.

July 2022: Merck introduced a modular automation software by COPA-DATA to the research and development laboratories of the Electronics Technology Center at its global headquarters in Darmstadt. This automation software will now be used in a variety of other laboratories around the world.

Figure 2: Laser Sensitive Pigments Market, by End-use Industry, 2021 & 2030 (USD Million)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

May 2022: Sun Chemical Expands SunColorBox Offering with the Launch of SunConnect. SunConnect is an accurate and digital color communication tool that will enable converters to communicate color match request and quality control data on press directly from a smartphone, tablet, or desktop. It is an entry level digital color management solution giving converters the opportunity to upgrade in future to Sun Chemical's SunColorBox – a unique set of tools and services that enables consistent and accurate digital color communication throughout the entire packaging supply chain.

May 2020: SONGWON Industrial Co., Ltd. signed an agreement with Bodo Möller Chemie. This partnership will enable to further expand SONGWON's market position in Europe. Bodo Mӧller Chemie enables to make our world-class products more easily available to its customers in the respective regions and demonstrates its commitment to providing them with prompt and reliable service.

Laser Sensitive Pigments Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific Laser Sensitive Pigments market accounted for USD 0.63 billion in 2021 and is expected to exhibit an 5.8% CAGR during the study period. Asia-Pacific is the largest automobile market and comprises emerging economies such as China and India and developed nations such as Japan and South Korea. The growing packaging industry and rapid industrialization in this region are key factors driving the laser sensitive pigments market. Furthermore, a rise in the middle-class population is expected to boost global consumer spending and will contribute to the growth of the textile and plastic industries, as a result fueling the growth of the laser sensitive pigments market over the forecast period.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Laser Sensitive Pigments Market SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Laser Sensitive Pigments market accounts for the largest market share. In Europe, the rapidly growing leather industry is creating numerous new opportunities for the laser sensitive pigments market and increasing product consumption in leather, which includes automotive, clothes, footwear, and other leather products. In addition, the real estate market of Europe is in motion. Furthermore, the rise in demand from the paints and coatings industries across Europe is a major factor driving the growth of the laser sensitive pigments market over the forecast period.

The North America Laser Sensitive Pigments Market is expected to grow as North America is known for quickly adopting new technologies, owing to the rapidly increasing GDP and high employment rate. North America has significant demand for laser sensitive pigments. The increasing plastic packaging industry, rising plastic production, and trend of digital printing are anticipated to boost the demand for laser sensitive pigments in the region over the forecast period. In the US, the rapidly growing textile industry shall boost industry growth and help to propel the demand for laser sensitive pigment over the forecast period.

Laser Sensitive Pigments Key Market Players & Competitive Insights

The Laser Sensitive Pigments Market is characterized by the presence of many regional and local vendors. The regional market is highly competitive, with all the players competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Datalase Ltd., Merck KGaA, Bodo Möller Chemie GmbH, Eckart NAFTA, Shenzhen Liying Plastic Chemical Co., Ltd, Gabriel-Chemie, Sun Chemical, Flint Group, Siegwerk, Peter Huber Kältemaschinenbau AG, Uvitec Ltd., ACTEGA are the major players in the market, competing in terms of variety of applications of Laser Sensitive Pigments Market and their components, as well as efficiency, reliability, affordability, and advanced technology. The primary focus of the players is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products. Although global players dominate the market, a few regional and other local players with a limited market share also have a prominent presence.

The major players would look to strengthen their global presence through mergers & acquisitions of local and regional players; they are expected to expand their presence and solutions in these countries during the forecast period. Therefore, vendors must develop new technologies to stay at par with emerging technology trends that could affect the competitiveness of their product lines in the market.

DataLase Ltd is the global leader in photonic printing solutions. The company provides ground-breaking sustainable and environmentally efficient inkless printing solutions for products and packaging, enabling brand owners to connect with consumers in unique, dynamic, and exciting ways. DataLase Product Coding provides end users with a new solution for printing high-contrast black-on-white codes for primary packaging requirements. It pigments and coatings, inkless printing solutions for products and packaging based on its patented laser-reactive color change technology. It enables brand owners to integrate digital printing at the point in the supply chain where it adds the most value and returns, all while promoting business integrity and reducing environmental impact.

Also, Merck KGaA is a vibrant science and technology company. The company offer services and solution for the automotive industry. It delivers personalized treatments for serious diseases. It also offers various laser pigments, granules, and pigments products. It has operated in various healthcare, life science, and electronics sectors. Merck KGaA has a presence in nearly 66 countries worldwide. It includes 250 companies all around the world.

Key Companies in the Laser Sensitive Pigments market include

• Datalase Ltd.


• Merck KGaA


• Bodo Möller Chemie GmbH


• Eckart NAFTA


• Shenzhen Liying Plastic Chemical Co., Ltd


• Gabriel-Chemie


• Sun Chemical


• Flint Group


• Siegwerk


• Peter Huber Kältemaschinenbau AG


• Uvitec Ltd.


• ACTEGA ATS

Laser Sensitive Pigments market Developments

June 2022: Merck announced that it has entered a collaboration with Agilent Technologies to advance Process Analytical Technologies (PAT). PAT, which is strongly encouraged by global regulatory authorities, is a critical enabler for real-time release and Bioprocessing 4.0.

May 2021: ALTANA has acquired Henkel's closure materials business. As a result, the specialty chemicals group is strengthening its range of PVC-free solutions for the packaging industry in particular. Within the ALTANA Group, the business will be integrated into the ACTEGA division and globally assigned to the Metal Packaging Solutions business line.

Laser Sensitive Pigments Market Segmentation

Laser Sensitive Pigments End-use Industry Outlook

• Packaging


• Automotive


• Consumer goods


• Others

Laser Sensitive Pigments Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Latin America
  
  
  
  • Mexico
  
  
  • Argentina
  
  
  • Brazil
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa