In-mold labels (IML) offer superior design and print capabilities for branding and aesthetic appeal on plastic containers and components. IMLs integrate the printed image directly into molded plastic parts during the manufacturing process itself, making it an integral part of the molded product. The durable and direct bonding of IMLs provides damage-resistant, long-lasting identification and decoration.

The global In-Mold Label Market is estimated to be valued at US$ 4.44 Bn  in 2023 and is expected to exhibit a CAGR of 7.4%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Increased Use of Innovative Materials. The increased use of innovative materials in the production of in-mold labels is expected to drive the market growth over the forecast period. Advanced materials like metalized films, thermoplastics, and polyvinyl chloride (PVC) films can make in-mold labels more durable and sustainable. Metalized films provide shiny appearance and barrier properties while advanced thermoplastics and PVC resist cracking and chemicals. The use of new materials helps producers offer labels that match evolving brand designs and standards, thereby expanding market scope.

Porter's Analysis

Threat of new entrants: Low economies of scale in manufacturing, high technology requirement and brand loyalty are the barriers for new entrants in the in-mold label market.

Bargaining power of buyers: Large multinational brand owners have significant bargaining power in the in-mold label market as they can negotiate prices.

Bargaining power of suppliers: Major suppliers like resin suppliers and label printers have moderate bargaining power due to limited differentiation in their offerings.

Threat of new substitutes: No major substitutes exist currently but pressure-sensitive labels can threaten the in-mold label market.

Competitive rivalry: The in-mold label market is fragmented with global players and various regional players leading to high competitive rivalry.

SWOT Analysis

Strength: In-mold labels provide brand protection, product enhancement, and supply chain efficiency. Growing demand from food & beverage industry is a key strength.

Weakness: Limited design flexibility of in-mold labels and high setup costs are weaknesses. Dependence on economic cycles can impact demand.

Opportunity: Increase in sales of consumer durables and automotive present opportunities. Growing e-commerce is also expanding scope.

Threats: Rising environmental concerns around plastic waste generation pose threats. Volatility in raw material prices can increase costs.

Key Takeaways

The In-Mold Label Market Demand Is expected to witness high growth over the forecast period owing to increased consumption of packaged food & beverages in developing regions. The Asia Pacific region currently dominates the market and is projected to grow at the fastest rate led by China, India, and other developing Asian countries. Rapid urbanization and rising disposable incomes are driving sales of packaged goods in the region.

Key players operating in the in-mold label market are Lake Region Manufacturing Inc., Boston Scientific Corporation, Volcano Corporation, Micro Therapeutics Inc., LuMend Corporation, Terumo Europe N.V., Covidien AG, ASAHI INTECC Company Limited, and Merit Medical Systems Inc. These major manufacturers are focusing on new product development and geographical expansion to strengthen their presence.

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