Drastic Impact of Covid-19 on the Global Inkjet Coders Market
The inkjet coders market has been drastically impacted by the COVID-19 outbreak. This is mainly because of the shutdown and closings of various other industries inkjet coders are used for. The supply chain has been disrupted by the nationwide lockdown and this has hindered the growth factors of the market.
One of the most popular types of computer printing, inkjet coder refabricates a digital image by thrusting ink droplets on plastic and paper substance. These types of coders are the used most frequently. Inkjet coders have a wide range of variety including small low-cost consumer prototypes to classy professional apparatuses.
Inkjet coder reduces the makeup consumption, eliminates the spills and ensure the correct fluid flow with appropriate printing image. Inkjet coders are used to print necessary information on the final product which gives the complete information to the user about the product. The inkjet coders with the help of quick dry ink enables the manufacture to print the date of manufacturing, batch number, product details and many more so that the complete information can be briefed to the consumer as well as the dealers, wholesaler and other manufacturer whom the products will be delivered.
Many factors such as the increasing use of inkjet, the beneficial features of inkjet printers, and rapid adoption of these printers by various industries are the major booster of the market. Moreover the technological advancement, cost effective way of printing the minute details and easy handling are also contributed to the growth of the market in recent years.
The Adverse Effect of Covid-19 on the Global Inkjet Market
The coronavirus outbreak has disrupted every business and industries. Because of the entire shutdown across the nations, both developed and developing, the supply chain has come to a halt resulting in loss and closures of businesses. The inkjet coders market has been affected adversely by this pandemic. As the manufacturing of packaging products has stopped, the demand of inkjet coders also been decreased. Until the pandemic situation controlled the market is predicted to degrade vastly.
The shutting down of various end-users such as food and beverages and pharmaceuticals has been severely impacted the inkjet market. This is because inkjet coders are mostly used by these industries.
Survival Strategies by Leading Players of the Market
In order to sustain and survive the post-pandemic repercussions, the major players of the industry are developing strategies and taking initiatives by involving in partnerships and collaborations.
ColorJet is such an industry leader who is taking initiatives proactively to overcome the adverse effect of the pandemic. ColorJet has generated a contribution of INR 725,816 to fight the pandemic which is received from 118 donors. Most of the donors are the industry partners from the USA, Japan, and UAE.
According to a latest report released by Research Dive, the post-Covid estimation of the market stands at around $ 1,247.4 Million, whereas the pre-Covid anticipation surpassed the revenue of $ 1,599.3 Million by the end of 2026.
The report also makes an estimate that the inkjet coders market will revive the pandemic effect and register a constructive growth by Q3/Q4 of 2021. The demand for inkjet coders will grow with the advanced technology and rise in the use of the inkjet coder in various industries for printing. Newer establishments of companies will also create new opportunities for the market in the post-pandemic market.