Chemical Indicator Inks Market to Exhibit Growth at 8.4% CAGR Through 2020: Transparency Market Research
By Business Wire News
By Business Wire News
Transparency Market Research has published a research report, titled “Chemical Indicator Inks (Solvent-based, Water-based and UV-Cured) Market by Sterilization Process (Steam, Ethylene Oxide, Hydrogen Peroxide & Plasma, Formaldehyde and Other) and Printing Process (Flexographic Printing, Rotogravure Printing and Screen Printing) for Sterile Bags, Sterile Bottles, IV & Blood Containers, Prefillable Syringes, Thermoformed Trays, Pouches, Tapes, Tags and Labels and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”.
The global chemical indicator inks market was worth US$30.2 million in 2013 and is expected to expand at a healthy CAGR of 8.4% between 2014 and 2020. The market is expected to be worth US$53.1 million by 2020.
Growing demand for sterilization and increasing awareness about hospital acquired infections will primarily drive the global chemical indicator inks market. Development of biobased chemical indicator inks and increased usage for sterilizing food and beverages will offer growth opportunities to the global chemical indicator inks market.
However, low shelf life of the substances, combined with ink formulation and printing process problems, will challenge growth of the market.
The chemical indicator inks market is segmented on the basis of sterilization process analysis, printing process analysis, application analysis, product analysis, and regional analysis. Steam sterilization, the largest sterilization process segment, had a market share of more than 40% in 2013.
Ethylene oxide sterilization process will exhibit the fastest growth in the chemical indicator inks market in the near future. This is attributed to fast growth in demand for low-temperature sterilization processes combined with high levels of microbial disinfection owing to ethylene oxide.
Product-wise, water-based chemical indicator inks accounted as the largest segment, holding over 50% of the chemical indicator inks market in 2013.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.