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New Product Launches are some of the Major Strategies Adopted by Market Players to Achieve Growth in the Industrial Labels Market
MarketsandMarkets projects the global market for industrial labels to grow from USD 43.04 Billion in 2016 to USD 55.95 Billion by 2021 at a CAGR of 5.39%. The growth in the industrial labels market is supported by the growing parent industries such construction, automotive, and aerospace & defense in both developed and developing countries as well as increasing need for sustainable and efficient ways of labels which are responsible for conveying warning and safety messages at the manufacturing site.
The key players in the Industrial labels market are Avery Dennison Corporation (U.S.), E. I. du Pont de Nemours and Company (DuPont) (U.S.), CCL Industries Inc. (Canada), Cenveo Corporation (U.S.), Brady Corporation (U.S.), 3M (U.S.), Henkel Ag & Co. KGaA (Germany), and Fuji Seal International, Inc. (Japan). The other notable players in the market are H.B. Fuller (U.S.) and DUNMORE (U.S.). These players have emphasized and adopted various strategies to expand their global presence and increase their market share. Expansions & agreements, mergers & acquisitions, and new product launches are some of the major strategies adopted by market players to achieve growth in the Industrial labels market.
The growth of the industrial labels market was largely influenced by agreements and expansions in the past few years. The year 2014 experienced a large number of strategies being used by top players in the market. Agreements & expansions, mergers & acquisitions, and new product launches formed the essential part of their strategies, which led to the flow of considerable income within the company. To maintain a competitive advantage on the competitors, top players emphasized on mergers & acquisitions.
Mergers & acquisitions were adopted by most of the players in the industrial labels market. Companies adopted this strategy to increase the reach of their offerings, improve their production capacity, and focus on core operations. Companies aim to serve the market efficiently by investing in manufacturing facilities and acquiring distribution centers in the fast-growing regions. As a result of the same, Brady Corporation (U.S.) and H.B. Fuller Co. (U.S.) emphasized on adopting key strategies to expand business operations.
Formed in 1887, H.B. Fuller is a worldwide formulator, manufacturer & marketer of adhesives, sealants & other specialty chemical products. Among these, industrial adhesives serve as a core product offering of the company. These adhesive products are used in manufacturing consumer & industrial goods. It includes food & beverage containers, disposable diapers, windows, doors, flooring, appliances, sportswear, footwear, multiwall bags, water filtration products, insulation, textiles, and electronics. The company manages its business through four operating segments, namely, Americas Adhesive, EIMEA (Europe, India, Middle East, and Africa), Asia- Pacific, and construction products. The Americas Adhesive, EIMEA, and Asia- Pacific operating segments manufacture and supply adhesive products in the assembly, packaging, converting, non-woven and hygiene, performance wood, flooring textile, flexible packaging, graphic arts, envelope, automotive, and electronics markets. The sales operations are spanned in 36 countries across the globe. From March 2012 to 2015, the company emphasized mergers and acquisitions as a part of its main strategy for business expansion. The company acquired four companies in different countries such China, Kenya, and Brazil to expand the business horizon.
Brady Corporation manufactures specialty materials, identification solutions, and workplace safety products. It operates through two business segments, namely, identification solutions and workplace safety. The identification solution segment includes high-performance labeling systems, safety signs, spill control products, tag out/lockout devices for facility identification, brand protection labeling, work-in-process labeling, and finished product identification. The company produces a wide range of self-expiring name tags, badges, lanyards, and access control software for people identification, wristbands & labels for tracking & improving the safety of patients in hospitals, and custom wristbands which are widely used in the leisure & entertainment industry. The workplace safety segment provides an array of workplace safety and compliance products, such as informational signs, tags, and workplace regulatory products for process industries, manufacturers, governments, education, and construction. The company emphasized on the strategy of new product launch to expand the business operations and improve the product portfolio. From March 2012 to 2014, the company launched four different products to enhance its product portfolio.
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
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