The global tablet coatings market reached a value of almost USD 707 million in 2019. The industry is further expected to grow at a CAGR of 5.5% in the forecast period of 2020-2025 to reach a value of nearly USD 974.6 million by 2025.
The industry is driven by the emerging regional markets in the pharmaceutical sector. The pharmaceutical industry is the leading application sector for tablet coatings. North America is driving the growth of the pharmaceuticals application sector as it accounts for over half the consumption of solid oral dosage forms. Regions such as North America and Europe have high market maturity in the global tablet coatings industry. Africa and the Middle East have a low market maturity for the same and, thus, have a high growth potential in the coming years.
The emerging regional markets in the pharmacy industry, such as India and China, are expected to have strong growth owing to the rising demand from the generics industry. India and China are also leading the coatings market in terms of volume, in comparison with developed markets such as the United States and Europe. In Japan, due to the increasing use of formulated coatings, the suppliers are creating innovative coating solutions to have an edge over their competitors. The suppliers have also started focusing on clients' needs by providing customized coating solutions.
Properties and Applications
Tablet coatings are applied on the tablets to protect it from chemical and physical harm. Along with controlling the release of the drug from the tablet, the coatings also help to mask and enhance the odour, taste, and colour of the tablets. On the basis of end-use, the tablet coatings market is divided into the following:
The main feedstock of the products are:
Methyl cellulose and its derivatives find their end-use in construction, paints, and adhesive, pharmaceuticals, and food and beverage, among others. HPC, on the other hand, finds its application in pharmaceutical, food, personal care, and industrial sectors.
The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The global tablet coatings market is driven by the rising demand from the pharmaceuticals and nutraceuticals segments. The increasing demand for modified release technologies will help accelerate the bioavailability of poorly soluble drugs, and hence, increase the industry growth of tablet coatings. The pharmerging nations are predicted to dominate the demand for tablet coatings, due to a rapidly growing middle class and governments' initiatives and incentives.
The increase in the demand for the product could be attributed to the expansions by private firms and governments, allowing foreign direct investment (FDI) to tap into the markets having low penetration. The drug manufacturers are showing greater interest in the formulated as well as customizable blends, thus, driving the growth of the industry in these segments as this is estimated to increase the total addressable market for tablets and consequently strengthen the tablet coatings market.
The industry for tablet coatings is driven by the demand from the oral solid dosage forms section, which includes enteric, sustained, and immediate release tablets. The modified release market is predicted to grow at a robust rate in the forecast period. The growing demand for pigmented film coatings is attributed to its application in the prevention of counterfeit drugs. Moreover, products with visual differentiation help brands with enhanced brand recognition, thus, further aiding the growth of the pigmented film coatings segment.
June 2019- Colorcon Inc. introduced one step Opadry® Enteric, a new coating, to improve the enteric performance for hydro-alcoholic applications.
May 2016- BASF SE (OTCMKTS: BASFY) sold its Kollicoat® IR Coating Systems product line to Colorcon Inc., strengthening Colorcon’s ready-to-use film coatings segment for immediate release forms of dietary and pharmaceuticals supplements.
The report gives a detailed analysis of the following key players in the global tablet coatings market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The report covers the macro and micro aspects of the market. The comprehensive EMR report provides a thorough assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis. It also offers an in-depth look into the manufacturing process of the product and the costs involved. An analysis of the value chain has also been provided within the report.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Tablet Coatings Market Analysis
6.1 Figure: Global Tablet Coatings Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Chart: Global Tablet Coatings Market Breakup by End Use
6.3 Figure: Global Tablet Coatings Market Breakup by End Use: Historical Market (2015-2019) & Forecast (2020-2025)
6.4 Chart: Global Tablet Coatings Market Breakup by Region
6.4.1 North America
220.127.116.11 United States of America
18.104.22.168 United Kingdom
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
6.5 Figure: Global Tablet Coatings Market Breakup by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 Middle East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
7 Price Analysis
7.1 Global Tablet Coatings Price Analysis
8 Global Tablet Coatings Feedstock Outlook
8.1 Methyl Cellulose and Its Derivatives
9 Global Tablet Coatings Feedstock Analysis
9.1 Global Methyl Cellulose and Its Derivative Market Analysis
9.1.1 Figure: Global Methyl Cellulose and Its Derivatives Historical Market (2015-2019) & Forecast (2020-2025)
9.1.2 Chart: Global Methyl Cellulose and Its Derivatives Market Breakup by End Use
188.8.131.52 Construction, Paints &Adhesive
184.108.40.206 Food & Beverage
9.2 Global HPC Market Analysis
9.2.1 Figure: Global HPC Historical Market (2015-2019) & Forecast (2020-2025)
9.2.2 Chart: Global HPC Market Breakup by End Use
220.127.116.11 Personal Care
10 SWOT Analysis
11 Porter’s Five Forces Analysis
11.2 Buyer’s Power
11.3 Supplier’s Power
11.4 New Entrants
11.5 Degree of Rivalry
12 Value Chain Analysis
13 EMR’s Key Indicators for Demand
14 EMR’s Key Indicator for Price
15 Cost Analysis
15.1 Raw Material
15.3 Labour Cost
16 Competitive Landscape & Supplier Analysis
16.1 Colorcon Inc.
16.1.1 Company Overview
16.1.2 Financial Analysis
16.2 Sensient Technologies
16.2.1 Company Overview
16.2.2 Financial Analysis
16.3 Evonik Industries AG
16.3.1 Company Overview
16.3.2 Financial Analysis
16.4 BASF SE
16.4.1 Company Overview
16.4.2 Financial Analysis
16.5 Kerry Inc.
16.5.1 Company Overview
16.5.2 Financial Analysis
16.6 Ideal Cures Pvt. Ltd.
16.6.1 Company Overview
16.6.2 Financial Analysis
17 Events and Developments
The global tablet coatings market attained a value of USD 707 million in 2019. It is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 5.5%. The industry is projected to reach USD 974.6 million by 2025.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its end-uses, the global tablet coatings market can be segmented into pharmaceuticals and nutraceuticals, with the pharmaceutical segment leading the industry. The major regional markets for the product are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa. The key players in the above industry include Colorcon Inc., Sensient Technologies, Evonik Industries AG, BASF SE, Kerry Inc., and Ideal Cures Pvt. Ltd., among others.
The major drivers of the industry such as rising disposable incomes, increasing population, rapidly growing middle-class population, rising demand from the pharmaceutical sector, and increasing demand for modified release are driving the growth of the industry globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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