According to the new market research report, "Tablet Coatings Market by Polymer (Cellulosic, Vinyl, Acrylic), Functionality (Delayed Release, Sustained Release), Type (Sugar Coated, Film Coated, Enteric Coated), End User (Pharmaceutical, Nutraceutical), COVID-19 Impact - Global Forecast to 2025", is projected to reach USD 969 million by 2025 from USD 739 million in 2020, at a CAGR of 5.6% during the forecast period.

Browse and in-depth TOC on "Tablet Coatings Market"
141 – Tables
55 - Figures
243 – Pages

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Growth Boosting Factors:

Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. Also, the growing generics market, rapidly growing biopharmaceuticals sector, growing nutraceutical industry, and the rising adoption of orphan drugs are supporting the growth of the market.

On the other hand, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process; the high cost associated with the microencapsulation process and the unfavorable drug price control policies are expected to restrain the growth of this market during the forecast period.

The cellulose polymers segment is expected to grow at the highest CAGR during the forecast period

Based on the polymers used for manufacture of tablet coatings, the cellulosic polymers segment accounted for the largest share of the global tablet coatings market in 2019. The large share of this segment can be attributed to the high adoption of these polymers owing to the ability to form coatings generally having acceptable properties such as good film strength, aqueous solubility, and compressibility, less sensitivity to wet granulation, flowability, and better tableting at a low price. Factors such as the the global regulatory acceptance and ready availability from a number of vendors are also the adoption of these polymers for coating applications.

The non-functional non-modifying coatings segment is expected to account for the largest share of the tablet coatings market

Based on functionality, the non-functional non-modifying coatings segment commanded the largest share in 2019. The large share of this segment can be attributed to high use of these coatings for the manufacture of immediate-release dosage forms. Also, these coats offer the advantages of protection against light and moisture, easy identification, improved swallowability, taste masking, mechanical strength, and improved safety and ease of handling. This is further supporting their adoption in the manufacture of oral solid dosages. Furthermore, the growing demand for innovative drug delivery formulations and increasing focus on nutraceuticals and dietary supplements using immediate-release coatings will continue to drive market growth.

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The pharmaceutical industry end-user segment is expected to account for the largest share of the tablet coatings market

The tablet coatings market, by end-user, is segmented into pharmaceutical and nutraceutical industry. The pharmaceutical industry segment accounted for the largest market share in 2019. The demand for tablet coatings in the pharmaceutical industry is largely driven by the increasing number of drugs launched as tablet formulations and growing prevalence of diseases for which tablet-based formulations form the primary treatment. The rising demand for innovative drug delivery formulations is also supporting the growth of the tablet coatings market for the pharmaceutical industry.

Europe is expected to account for the largest share of the tablet coatings market in 2019

In 2019, Europe accounted for the largest share of the tablet coatings market, followed by North America, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be characterized by the presence of a number of pharmaceutical giants with large production capacities leading to a high consumption of excipients. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also led to the increase in the demand for novel excipients, which, in turn, is expected to drive the market growth in this region in the coming years.

Key Market Players

The prominent players in this market are Colorcon Inc. (US), Sensient Technologies Corporation (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Global Holdings Inc. (US), DuPont De Numeours Inc. (US), Kerry Group plc (Ireland), Roquette Freres (France), Eastman Chemical Company (US), Air Liquide S.A. (France), and Merck KGaA (Germany).

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