Tablet Coatings Market Intelligence

Tablet Coatings Market Size and Overview

The global market for tablet coatings is expected to reach $830 million by 2022, while growing at a constant CAGR of 5 to 6 percent. Pharmerging nations are anticipated to lead the demand for tablet coatings at a CAGR of 8 to 9 percent until 2022. The high growth rates in demand are attributed to factors such as rapidly expanding middle class, government incentives for the provision of drugs at lower cost, expansions by private firms, and governments allowing FDI penetration in untapped markets. Increased raw material demand from other end-use industries might affect feedstock availability. Leading coating manufacturers are either backward integrated or adopt dual/multiple sourcing strategy for stable and continuous supply of raw materials.

Tablet Coatings - Global Market Trends

• The global tablet coatings market is expected to reach $830 million in 2022 by growing at a CAGR of 5–6 percent between by 2022F
• Pharmerging nations are expected to lead the demand for tablet coatings with anticipated CAGR of 8–9 percent between 2018 and 2022F
• As of 2018, the pharmaceutical coatings segment dominated the tablet coatings market with a market share of 70 percent
• Pharmaceutical coatings are the mixture of four broad categories of raw materials namely polymers, plasticizers, colorants, and solvents
• Most of the big pharmaceutical companies source the tablet coating from top suppliers, such as Colorcon, Sensient and Evonik, which have the capability to provide customized coating systems suiting to buyers’ needs.
• Pharma market intelligence concludes that there is a growing demand and usage of modified release technologies, to increase bioavailability of poorly soluble drugs.
• Demand for raw materials, such as HPMC, PEG or other polymers, colors, etc., in allied industries, such as paints, construction, food and cosmetics could impact the raw material availability for pharmaceutical coatings systems
• The pharmaceutical coatings market is expected to show higher growth both in developing and emerging market due to increasing demand from other end-use industries.
• Fluctuations in the price of raw materials (especially when it is single sourced) would have an impact on tablet coating prices
• Currently, no threat has been identified by the pharma market intelligence for the tablet coating industry.

Tablet Coatings - Major Players

Colorcon

With over 6 manufacturing facilities and market presence across the globe, Colorcon is the market leader for coatings with close to 50-60 percent market share in the US. Colorcon is persistently pursuing the film coatings market by continuously bringing up innovative products along with excellent technical and regulatory support to their customers 

Sensient

Sensient is rapidly trying to increase its market share in the pharmaceutical coatings systems as it is the leading global manufacturer of flavors & colors, one of its competitive advantages, and thus offering customized coatings products and solutions to pharmaceutical/nutraceutical companies 

Companies are increasing their capability by expanding capacity and introducing new technology. E.g., in 2016:

• Colorcon invested in a new film coating manufacturing plant in Sao Paulo, Brazil
• Colorcon has added a new film coating system, Opadry EC
• Sensient has introduced Flexicoat technology and SPECTRABLEND MB-H
• BASF introduced Kollicoat® MAE 100-55

Methodology for writing this Report

The report also provides a global market outlook, along with an overview of key industry players and drivers & constraints impacting the market. It also gives a regional market overview in regions such as the U.S., Europe, and Japan, followed by Porter's five forces analysis on factors such as buyer power, supplier power, barriers to new entrants, intensity of rivalry, and threat of substitutes.