Industrial Segment to Dominate Europe Tactile Printing Market during 2020-2028
According to this research study titled “Europe Tactile Printing Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Application and End User,” the market is expected to reach US$ 553.67 million by 2028 from US$ 342.11 million in 2021. The market is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report provides trends prevailing in the Europe tactile printing market along with the drivers and restraints pertaining to the market growth. Industries demanding for innovative packaging is the major factor driving the growth of the Europe tactile printing market. However, issues associated with high primary investments and maintenance costs hinders the growth of Europe tactile printing market.
The Europe tactile printing market is segmented into application, end-user, and country. Based on application, the Europe tactile printing market is segmented into packaging & labels, tactile graphics, & secure documentation. Packaging and labels segment held a substantial market share in 2020. Based on end-user, the Europe tactile printing market is segmented into braille users, industrial sector, and government & defense sector. Industrial segment held a substantial market share in 2020.
Germany, Spain, the UK, Italy, and France are among the notably affected European countries by the COVID-19 pandemic. Businesses are suffering from financial crises as they either had to suspend their operations or reduce their activities substantially in the initial stages of the pandemic. Europe has one of the world’s robust food &beverages industries. Hence, business lockdowns and travel bans led to the slowdown of the growth of this sector in 2020, and the impact is likely to continue to some extent in 2021. Moreover, disruptions in supply chain in the region led to imbalance in the demand and supply of products in 2020. Various countries in Europe, such as Italy, Spain, France, the UK, and Germany, have implemented drastic measures and travel restrictions to limit the spread of SARS-CoV-2. According to the EU legislation, Braille text and tactile labeling are mandatory on pharmaceutical products. However, suspension of business activities has affected product launches and new investments in various European countries, thus impacting the growth of the tactile printing market. In addition, disruptions in raw materials and equipment supply chain further worsen the conditions for tactile printing solution manufacturers in this region. As per a survey by the British Plastics Federation (BPF), ~80% of the surveyed packaging companies from the UK are expecting a drop in turnover, while ~90% of them have anticipated issues in supply chain.
Altix, American Thermoform, Canon Inc, Index Braille, Kanematsu USA, Konica Minolta, Inc., Roland DG Corporation, Sturdy Print & Design Ltd and ViewPlus Technologies Inc are among the leading companies in the Europe tactile printing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, ViewPlus Technologies Inc. introduced the new Power-Dot Braille.
The report segments the Europe Tactile Printing Market as follows:
Europe Tactile Printing Market - By Application
Europe Tactile Printing Market - By End User
Europe Tactile Printing Market - By Country
According to this research study titled “Europe Tactile Printing Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Application and End User,” the market is expected to reach US$ 553.67 million by 2028 from US$ 342.11 million in 2021. The market is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report provides trends prevailing in the Europe tactile printing market along with the drivers and restraints pertaining to the market growth. Industries demanding for innovative packaging is the major factor driving the growth of the Europe tactile printing market. However, issues associated with high primary investments and maintenance costs hinders the growth of Europe tactile printing market.
The Europe tactile printing market is segmented into application, end-user, and country. Based on application, the Europe tactile printing market is segmented into packaging & labels, tactile graphics, & secure documentation. Packaging and labels segment held a substantial market share in 2020. Based on end-user, the Europe tactile printing market is segmented into braille users, industrial sector, and government & defense sector. Industrial segment held a substantial market share in 2020.
Germany, Spain, the UK, Italy, and France are among the notably affected European countries by the COVID-19 pandemic. Businesses are suffering from financial crises as they either had to suspend their operations or reduce their activities substantially in the initial stages of the pandemic. Europe has one of the world’s robust food &beverages industries. Hence, business lockdowns and travel bans led to the slowdown of the growth of this sector in 2020, and the impact is likely to continue to some extent in 2021. Moreover, disruptions in supply chain in the region led to imbalance in the demand and supply of products in 2020. Various countries in Europe, such as Italy, Spain, France, the UK, and Germany, have implemented drastic measures and travel restrictions to limit the spread of SARS-CoV-2. According to the EU legislation, Braille text and tactile labeling are mandatory on pharmaceutical products. However, suspension of business activities has affected product launches and new investments in various European countries, thus impacting the growth of the tactile printing market. In addition, disruptions in raw materials and equipment supply chain further worsen the conditions for tactile printing solution manufacturers in this region. As per a survey by the British Plastics Federation (BPF), ~80% of the surveyed packaging companies from the UK are expecting a drop in turnover, while ~90% of them have anticipated issues in supply chain.
Altix, American Thermoform, Canon Inc, Index Braille, Kanematsu USA, Konica Minolta, Inc., Roland DG Corporation, Sturdy Print & Design Ltd and ViewPlus Technologies Inc are among the leading companies in the Europe tactile printing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, ViewPlus Technologies Inc. introduced the new Power-Dot Braille.
The report segments the Europe Tactile Printing Market as follows:
Europe Tactile Printing Market - By Application
- Packaging & Labels
- Tactile graphics
- Secure Documentation
Europe Tactile Printing Market - By End User
- Braille Users
- Industrial
- Government & Defense
Europe Tactile Printing Market - By Country
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
Table of Contents
1. Introduction. 2
3. Research Methodology. 2
4. Europe Tactile Printing Market Landscape. 2
5. Europe Tactile Printing Market - Key Market Dynamics. 2
6. Tactile Printing Market - Europe Analysis. 2
7. Europe Tactile Printing Market Analysis - By Application. 2
8. Europe Tactile Printing Market Analysis- By End-User 2
9. Europe Tactile Printing Market - Country Analysis. 2
10. Europe Tactile Printing Market- COVID-19 Impact Analysis. 2
11. Industry Landscape. 2
12. Company Profiles. 2
13. Appendix. 2
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Altix
- American Thermoform
- Canon Inc
- Index Braille
- Kanematsu USA
- Konica Minolta, Inc.
- Roland DG Corporation
- Sturdy Print & Design Ltd
- ViewPlus Technologies Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 107 |
Published | June 2021 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 342.11 Million |
Forecasted Market Value ( USD | $ 553.67 Million |
Compound Annual Growth Rate | 7.1% |
Regions Covered | Europe |