Global Tablet Coatings Market to Grow at a CAGR of 5.50% over the Forecast Period of 2024-2032

The global tablet coatings industry is being driven by its rising demand from the pharmaceutical sector coupled with the advancing technology. The Asia Pacific is the emerging market for the product and is expected to witness a robust growth in the forecast period due to the growing urbanisation and rising disposable incomes in the region. Within the Asia Pacific, India and China are expected to witness a faster growth rate owing to the products’ increased demand from the generics market. North America and Europe are the mature markets in the global tablet coatings industry. In North America, the demand for solid oral dosage forms accounts for over half of its global consumption, which is aiding the industry in the region. India and China, in comparison to developed markets such as the United States and Europe, are dominating the coatings market in terms of volume. The pharmaceutical industry represents the leading application sector for the global tablet coatings industry.

With the growing pharmaceuticals industry, the demand for reduced inventory and QC testing, unlike in multi-component coating systems, has increased, leading manufacturers to produce simpler coating systems.  In June 2020, Colorcon Inc. introduced one step Opadry® Enteric, a new coating, offering enteric performance for hydro-alcoholic applications in the pharmaceutical sector. The product ensures simple preparation and ease-of-use for film coating, providing greater efficiency for solvent coatings. In May 2016, BASF SE (OTCMKTS: BASFY), another leading player in the industry, sold its Kollicoat® IR Coating Systems product line to Colorcon Inc., providing greater stability and strength to Colorcon’s ready-to-use film coatings segment for immediate release forms of dietary and pharmaceuticals supplements. Such developments are expected to drive the growth of the global tablet coatings industry during the forecast period.

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Market Breakup by End-Uses, Feedstock, and Regions:

• On the basis of end-use, the global tablet coatings industry is categorised into pharmaceuticals and nutraceuticals.

• The major types of the feedstock of the products are methyl cellulose and its derivatives and HPC.

• Region-wise, the global tablet coatings market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing pharmaceuticals and nutraceuticals industry with the increased investment in the R&D sector is leading to the growth of the global tablet coatings market. 

• Increasing urbanisation and rising disposable incomes, particularly in the emerging economies, is further propelling the industry forward.  

• The rapidly advancing technology and innovation in products' range, including formulated as well as customisable blends of coating solutions, is impacting the industry positively. 

• With the growing demand and increased consumption of solid oral dosage forms, the industry is witnessing a further growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global tablet coatings industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) information for the regional markets of tablet coatings as well as the prevailing price trends during those periods.

• An overview and analysis of the feedstock market have also been provided within the report for the (2018-2023) and (2024-2032) periods.

• It also provides an assessment of the market based on Porter’s Five Forces model, along with a SWOT and value chain analysis.

The major players in the global tablet coatings market are Colorcon Inc., Sensient Technologies, Evonik Industries AG, BASF SE, Kerry Inc., and Ideal Cures Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.