The market for industrial labels is projected to grow 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.
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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.
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.
The strategies such as mergers & acquisitions and agreements & expansions were majorly adopted by most of the players in this market. Companies such as H.B. Fuller (U.S.), Henkel Ag & Co. KGaA (Germany), CCL Industries Inc. (Canada), and Fuji Seal International, Inc. (Japan) were the key players who adopted these strategies to increase the reach of their offerings, improve their production capacity, and establish focus on core operations. Companies also emphasized on new product launches to increase their product portfolio in the fast-growing regions. Companies such as Brady Corporation (U.S.) and DUNMORE (U.S.) have adopted this strategy. These players also have a strong distribution network and influencing presence in the developed as well as developing economies.
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