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 2019, 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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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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