As per a new report for Future Market Insights (FMI), demand for inlay papers is projected to surge by US$ 296.2 Mn in 2033 from US$ 173.4 Mn in 2023. The market is anticipated to witness growth at a CAGR of 5.5% in the next ten years from 2023 to 2033.
Inlay paper is becoming more popular in the digital world due to digital transformation happening all over the world. Radiofrequency identification inlays are gaining traction in the market as many manufacturers are producing RFID inlays with multiple designs integrated with different materials suitable for various industrial and retail applications.
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Dry or wet inlays are embedded into the final finished products. Companies are manufacturing high frequency and ultra-high frequency RFID inlay papers to suit numerous industrial applications. There are various applications that are set to be benefited from inlay papers, including the internet of things, near-field communication smart posters & billboards, logistics & supply chain, transportation, and event tickets.
RFID inlay paper is set to be increasingly used in warehouses and inventory control for product tracking. Many countries have switched to RFID-tagged passports for saving information related to the passport-holding person.
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RFID inlays and tags are widely used in shipping and logistics because it is the best low-cost solution available for identifying goods. The retail industry is set to acquire a large portion of the market for inlay paper because of digitalization of information related to numerous products.
Retail products are expected to be tagged with an RFID inlay tag or label, and the product details are likely to be saved in the chip, which is gathered by scanning products. All these applications due to digitalization are creating new growth opportunities for the inlay paper market.
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Key Takeaways from the Inlay Paper Market
- The global inlay paper market is projected to exhibit a CAGR of 5.1% during the historical period from 2018 to 2022.
- The U.S. inlay paper market is anticipated to exhibit nearly 82% of share across North America by 2023.
- New Zealand inlay paper market is estimated to expand 1.5 times the current value during the forecast period from 2023-2033.
- Based on product type, the wet inlay paper segment is set to hold around 80% of the inlay paper market share by the end of 2023.
- In terms of end use, the retail segment is expected to grow at a CAGR of 5.3% during the estimated time frame.
“Digitalization of all industrial segments, growing concerns over digital security, and data theft are some of the major drivers for the inlay paper market. Key companies are developing unique inlay papers to help prevent data theft.” – Says an FMI analyst.
Product Identification and Material Tracking Applications of Inlay Paper to Create New Growth Opportunities
Logistics and transportation is the most prominently growing industry in the current times. Identification of goods is set to be the most important part of the shipping industry. High volumes of goods are being transported all over the world and the related data is also huge.
Application of inlay paper infused with RFID technology will create a major hold over the data. For the packaging of goods, RFID tags can be easily labeled on shipping containers. This would help the shipping industry to functionalize the process of product identification.
Similarly, the manufacturing industry can apply inlay paper tags in their inventory and other manufacturing products. Application of inlay papers will be of great help in inventory management, which will in turn, reduce the labor cost and simplify the entire process.
RFID inlay paper can be customized according to the application of inlay paper. Inlay paper application in manufacturing units, inventory control, shipping, and logistics will reduce the manual material tracking time and labor cost. It would also automate the process of material tracking.
Inlay paper would help create future market value by its increasing application in numerous finished products. For instance, in automobiles, it would help in the process of part identification by applying RFID inlay paper. Inlay paper will also play a very important role in product identification in the shipping and manufacturing industries, and will be beneficial in time management and cost reduction.
Competition Landscape: Inlay Paper Market
Lahnpaper GmbH, HID Global Corporation, Avery Dennison Corporation, Barry-Wehmiller Companies, Zebra Technologies Corporation, and Arizon RFID Technology Co. are key players operating in the global inlay paper market. Also, some of the other noticeable players in market include Alien Technology, LLC, Smart Packaging Solutions N.V, Tageos, Invango Information Technology Co. Ltd, Shenzhen DTB RFID Co., Ltd., Metalcraft Inc., Paragon Group Limited, PPG Industries Inc., and others.
Get Exclusive Insights into the Inlay Paper Market Report
Future market insights, in its new report, offers an unbiased and thorough analysis of the global inlay paper market, analyzing historical demand from 2018-2022 and forecast statistics for 2023-2033. The study reveals market growth projections for inlay paper market based on the material (synthetic paper and recycled paper), product type (wet inlay paper and dry inlay paper), and end use (retail, stationary, banking, and logistics & transportation) across seven regions.
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