Introduction to Global Magnetic Labels Market
Magnetic labels are inventory labelling solutions which are used to locate racks easily on demand. Magnetic labels are preferred as they eliminate the hassle of removing labels which are permanently fixed. Alternative labelling solutions which are available in the market can interfere with scanning procedures and therefore, there is an increasing demand for solutions which make the process smooth and leave no sticky residues. Magnetic labels are mostly used in warehouses, where there is constant demand for shipment. Globally, the focus on optimizing the supply chain has intensified, and it is expected to impact all activities that are part of the overall supply chain. Therefore, effectively locating racks and products in a warehouse is equally important to ensure smooth and timely service. The outlook for growth of the global magnetic labels market is expected to be largely positive during the forecast period.
Global Magnetic labels Market: Dynamics
Increased focus on increasing efficiency in locating products in warehouses is expected to drive demand for appropriate solutions like magnetic labels. There are several benefits which are associated with magnetic labels, including – avoidance of confusion which frequently occurs in locating products in a warehouse, when they are temporarily relocated. The top manufacturers of magnetic labels are expected to focus on adding more features which enhance the convenience of locating the labels themselves. For easy location of inventory, key manufacturers of magnetic labels are adding color graphic elements to facestock. The process is known to enhance the functionality of the magnetic labels. Since magnetic labels are laminated with a protective layer, they resist mild acids, water, oil, and cleaning chemicals, thereby preventing any damage. The over-laminates on magnetic labels also protect them from possible abrasions.
There are several things that are needed to be kept in mind before a warehouse decides to adopt magnetic labels inventory management systems. These include, choosing an easily understandable font, ensuring that the labels are available in custom sizes, and inclusion of all common symbiologies. In addition to aiding inventory management in warehouses, magnetic labels are also used as security labels in several industries. Therefore, it is anticipated that the global magnetic labels market is expected to register a healthy CAGR during the forecast period.
Magnetic Labels Market: Regional Outlook
The Asia-Pacific magnetic labels market is expected to lead the magnetic labels market during the forecast period. This is due to the growth in warehousing & logistics sector registered in China and India. It is anticipated that a significant fraction of the warehouses in India and China are not automated and lack a well-coordinated inventory management process in place. This provides significant opportunity for growth of the regional magnetic labels market during the next ten years. The U.S. is expected to be one of the leading countries in terms of market share. In terms of market value, the North America and Europe magnetic labels market are expected to be on top, spearheaded by leading countries such as the U.S., Germany, France, and the U.K.
Magnetic Labels Market: Key Trends
Manufacturers of magnetic labels are focusing on increasing readability and convenience associated with reading the labels. Therefore, there is increased focus on –
- Offering customized fonts
- Addition of color graphic elements to enhance the functionality of their magnetic labels
Magnetic labels Market: Manufacturers
Some of the manufacturers operating in the global magnetic labels market are as follows –
- Linda Cao Shanghai Taixiong Magnetic Industrial Co., Ltd.
- Evita Guan Shenzhen Ruihongtai Security Technology Co., Ltd.