The global chemical indicator inks market size is projected to reach US$ 35.4 million by 2024, and register CAGR of 8.1% over the forecast period (2019 - 2027).
A chemical indicator is a substance that visibly detects presence of (or lack of) the concentration of chemicals in a solution, by changing its colour. Chemical indicators, or CIs, have application in sterlisation processes in order to ensure that specific sterlisation guidelines have been achieved. The change in colour is caused by chemical indicator inks that are introduced in minimal quantities so as to not disturb chemical properties of the solution. A reaction takes place between the chemical present in the ink and some of the critical factors of the sterlisation process, which then changes and alters the colour to the expected result.
Chemical indicator inks are primarily used in end use industries such as chemical, pharmaceutical, and healthcare in the process of sterlization monitoring and as neutralisation reaction indicators. Sterlisation is one of the primary processes that take place in the healthcare industry since sterlisation of surgical equipment, instruments, and supplies directly affect patients' health and wellbeing. Chemical indicators can confirm the effective sterlisation of equipment used in surgery and patient care, and help determine the sterlisation level that has been reached. Growing prevalence of infectious diseases worldwide is expected to drive demand for chemical indicator inks. Furthermore, stringent regulations implemented by regulatory bodies such as the U.S. Environmental Protection Agency such as mandates for sterlisation of surgical supplies and equipment is a contributing factor to the rising demand for chemical indicator inks. Chemical indicator inks are also gaining traction in the food canning industry, particularly for suppliers of perishable, canned products such as meat and fish.
Chemical indicator inks are also used in solvents and colorants in rotogravure in printing processes. These products, which have a liquid consistency due to the presence of petrochemicals, can release volatile compounds that are harmful for the environment. Additionally, the overall cost involved in the printing industry depends on the process selected. Flexographic printing, for instance, incurs higher costs compared to other processes, which can hamper the market growth in the near future.
In terms of volumetric consumption, production, and revenue generation, Asia Pacific is expected to remain dominant. Rising industrialisation, and the presence of end use industries such as pharmaceutical, chemical, and food canning is likely to complement the increasing demand for chemical indicator inks in the region. Increasing involvement of emerging economies such as Malaysia, Taiwan, and Indonesia in the food processing industries is another factor propelling the market growth. Research and development activities in South America and other regions will be a key contributor in the global market share. Market growth in Europe is projected to be sluggish in comparison to Asia Pacific, however presence of key players in the region is expected to benefit the regional market over the forecast period. The pharmaceutical industry in North America is expected to grow at a steady rate, and the region is projected to take a lead in manufacturing pharmaceuticals.
The global chemical indicator inks market is expected to witness several developments over the forecast period. Some of the key players in the market are The Dow Chemical Company and DuPont, and BASF SE.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.