Tablet Coatings Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Tablet Coatings Market by region.
The global tablet coatings market was US$ 775 million in 2020. The global tablet coatings market is expected to reach US$ 1454 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2021-2030.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Coating tablets and pellets are one of the oldest medical operations that involve applying a dry internal layer of coating material to the external layer of a dosage.
COVID-19 Impact Analysis
The demand for coating tablets significantly rose during the pandemic. Pharmaceutical and biotech businesses and governments around the world have worked endlessly to combat the COVID-19 outbreak. As a result, it increased the production and demand for tablet coating. Routinely used medications like hydroxychloroquine has shown a huge increase in demand for COVID-19 treatment. Because many affluent countries were witnessing a shortage of these medications, the booming demand has contributed to enormous prospects for developers of COVID-19 management drugs.
Top Impacting Factors
The growth of the global tablet coatings market is propelled by growing R&D activities in the industry. Moreover, the growth of the pharmaceutical industry would ultimately surge the growth of the global tablet coatings market.
Tablet coatings market expansion is forecast to rise due to growing pharmaceutical manufacturing in emerging countries. Furthermore, the growing focus on technical improvements and sports nutrition in major market areas presents prospective growth prospects for the tablet coatings market’s leading competitors. The market of nutraceuticals may increase as consumers pay more attention to their nutrition while exercising.
Tablet coatings are made up of cellulosic polymers. The use of cellulose polymer would rise because of its beneficial characteristics, such as protection to wet granulation, strength, and cost-efficiency.
The demand for tablet coating is rising rapidly due to the faster production of tablets. Thus, the growth of the pharmaceutical industry would ultimately raise the demand for tablet coating.
However, stringent government rules may slow down the market growth during the analysis period.
Regional Analysis
Regionally, the Asia Pacific Tablet Coating Market is forecast to rise at a rapid pace, owing to the growing drug production and its outsourcing to specialist contract manufacturing organizations (CMOS). Moreover, rising manufacturing units and favorable government regulations would further enhance the expansion of the market.
In India, Kerry Group’s Taste & Nutrition company division launched a new USD 22 million (EUR 20 million) state-of-the-art facility to serve global and regional customers in the South West Asia region. Thus, such expansion is likely to boost the Asia Pacific contribution to the global tablet coatings market.
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Competitor in the Market
Colorcon Inc.
Sensient Technologies Corporation
BASF SE
Evonik Industries AG
Ashland Global Holdings Inc.
DuPont De Numeours Inc.
Kerry Group plc
Roquette Freres
Eastman Chemical Company
Air Liquide S.A.
Merck KGaA
Corel Pharma Chem
Biogrund GmbH
Ideal Cures Pvt. Ltd.
Wincoat Colours & Coatings Pvt. Ltd.
Spectrum Chemical Mfg. Corp.
Coating Place, Inc.
Lubrizol Corporation
Aquadry Pharma Pvt. Ltd.
Aries Exim Pvt. Ltd.
Other prominent players
Market Segmentation
By Polymer
Cellulosic
Vinyl
Acrylic
By Functionality
Delayed-Release
Sustained Release
By Type
Sugar Coated
Film Coated
Enteric Coated
By End-User
Pharmaceutical
Nutraceutical
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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