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The Industrial Printing Market size is estimated to grow at a CAGR of 8% between 2022 and 2027 and the size of the market is forecast to increase by USD 73.32 billion. The growth of the market depends on several factors, the rise in demand for packaged food and beverage products, the increasing adoption of digital printing, and the growing textile industry.
This report extensively covers market segmentation by application (packaging, textiles, electronics, and others), service (print services and other services), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Industrial Printing Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
There has been an increasing preference among consumers in advanced countries, like the United States, Canada, and the United Kingdom, for packaged food and drink such as RTE meals, instant mixes, and cans. This preference can be attributed to the rising consumer awareness regarding the benefits of consuming packaged food products. In terms of food quality, packaging is superior to unpackaged foods in that it protects from any physical and environmental damage as a result of its handling, transport, distribution, or storage.
Moreover, the global consumption of packaged beverage products has increased in recent years, which is attributed to the rise in demand for carbonated soft drinks (CSDs), packed juices, alcoholic beverages, and bottled water. In addition, a high growth rate of sales has been recorded in the further drinks category which includes RTD coffee and tea products from Asia Pacific as well as Europe due to increased demand. Thus, the increase in global consumption of food and beverage products will drive the demand for packaging and, in turn, printing services. This, in turn, will propel the growth of the global industrial printing market during the forecast period.
Flexographic printing is used for the transfer of ink onto a substrate by means of flexible plates. For medium to long-run printing, simple designs, and color combinations it's an economical alternative to digital printing. Solutions for flexographic label printing can run at high line speeds. Hence, they can be used to print large orders in short lead times. Flexographic label printers produce labels quickly, and their inks are less expensive than those used by digital label printers.
Moreover, flexographic printing also offers the freedom of printing on a wide variety of porous and non-porous materials such as cardboard, paper, and fabric. It may be used for the production of prime product labels, industrial labels, tamper-evident labels, warning labels, medical labels, bar codes, and barcode labels. The use of flexographic printing in the manufacture of labels for applications like packaging food, clothing, toiletries, health information labels, kitchenware, chemicals label, and many others has been enhanced by these advantages. Therefore, the benefits associated with flexographic printing will drive the growth of the global industrial printing market during the forecast period.
Turbulence in material prices is one of the key challenges faced by the global printing industry. Depending on a number of factors such as supply and demand, production costs, or geopolitical circumstances, the price of raw materials may be significantly different for printing inks, dyes, and substrates. When raw material prices are high, it can be difficult for companies to maintain profit margins without passing on the additional cost to customers, which could result in a loss of customers. On the other hand, when raw material prices are low, companies may face pressure from customers to reduce prices, even if their production costs have not decreased.
However, to mitigate the impact of raw material price fluctuations, industrial printing companies try to negotiate long-term supply contracts with their suppliers. Alternative materials or suppliers which could offer better stability of prices may also be explored. In the long run, it is necessary to adopt an active and comprehensive approach in terms of managing fluctuations in raw material prices so as to help printing companies retain their competitiveness and remain profitable. Thus, fluctuations in raw material prices are anticipated to negatively impact the growth of the market in focus during the forecast period.
The packaging segment will account for a major share of the market's growth during the forecast period. The global packaging industry is expected to witness a high growth rate during the forecast period. One major factor in this growth is an increase in the demand for packaged products as a result of demographic changes.
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The packaging segment was valued at USD 61.37 billion in 2017 and continued to grow until 2021. Manufacturers focus on packaging to create brand value and awareness, which attracts customers. One major factor in this growth is an increase in the demand for packaged products as a result of demographic changes. Such factors will drive the growth of the packaging segment and, in turn, the market in focus during the forecast period.
Industrial printing in the textiles segment refers to the use of printing technology to print designs, patterns, and colors on various types of fabrics, including cotton, silk, and polyester, which are used in a range of applications, such as clothing. One of the main factors expected to boost textile segment growth over the forecast period is China and India's emergence as Textile Manufacturing Centres in APAC. The development of the region's textile market is a result of capacity expansions by suppliers in order to boost garment production and medical dressing. Digital textile printing offers several advantages over traditional printing methods, including faster turnaround times, lower production costs, and the ability to print as per the requirement. Additionally, digital printing allows greater design flexibility and the ability to print high-quality, intricate designs and patterns, which are difficult to achieve with traditional printing methods. Such advantages of digital printing in the textile industry will leverage its application and, in turn, will propel the growth of the market in focus during the forecast period.
Based on the service segment, the market has been segmented into print services and other services The service segment will account for the largest share of this segment. The printing needs of businesses have expanded dramatically in recent years. Vendors are looking for ways to improve quality and efficiency while reducing the costs of industrial printing. In order to improve and transform production print environments in different sectors, such as packaging, vendors operating on the market, such as Ricoh, offer hardware, software, and process solutions. End users do not need to be worried about the change of printer ink or maintenance of equipment as a result of industrial printing services. In addition, regulatory compliance will also be taken care of by the print services provider. Vendors also provide managed print services to end-users. Such advantages of procurement of print services will drive the growth of the segment and, in turn, the market in focus during the forecast period.
The other services include supply chain management, print procurement, warehousing, distribution, and inventory management for industrial printing. The big industrial printers, which stock important raw materials such as paper and ink on a regular basis to fulfill the needs of their clients while also ensuring that they have emergency stocks at hand in case of an emergency, have longstanding strategic relationships with their suppliers. These do exchange regular consumption data with suppliers and work in a very transparent manner with the suppliers, dealers, distributors, and manufacturers. Large industrial printing companies also provide procurement services to other small printing companies. In addition to the printing services, in order to make more profit from these services, sellers on the market in focus also provide such services to smaller companies that are less than 500 employees. Thus, the rising demand for other services from large industrial printing companies will augment the growth of the global industrial printing market through the other services segment during the forecast period.
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APAC is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The industrial printing market in APAC is anticipated to exhibit a high demand for industrial printing from countries such as China, India, the Philippines, Vietnam, and Thailand. Demand for printing in the packaging sector is expected to increase as a result of population growth and rising purchasing power parity, notably with regard to food and beverages. It is also a source of advantage that materials and labor are inexpensive. During the forecast period, several established major players in the market are likely to enter into strategic alliances with local vendors to consolidate the market share. Therefore, the industrial printing market has a promising growth prospect in this region.
In 2020, the outbreak of COVID-19 led to the imposition of a complete lockdown in the region. Owing to the aforementioned factors, the market in the region witnessed a slowdown in growth. In 2021, the introduction of vaccines led to a decline in the number of COVID-19 cases, which resulted in the lifting of COVID-19-related restrictions in the region. Demand for packaging materials in these sectors has stabilized in the region, as production activities resumed in end-user industries. Rapid urbanization, improving economic conditions, and increasing activities in various industries such as food and beverage, personal care, and healthcare in India and China will increase the demand for packaging materials, which, in turn, will drive the growth of the regional market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ACME printing: The company offers industrial printing services through corporate printing on mugs, T-shirts, and umbrellas, bags.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
ACME printing, Adobe Inc., Applejet India OPC Pvt. Ltd., Brother Industries Ltd., Cefla SC, Dai Nippon Printing Co. Ltd., Danaher Corp., Electronics For Imaging Inc., HP Inc., Inkcups Now Corp., Nano Dimension Ltd., Pannier Corp., Physik Instrumente GmbH and Co. KG, Rex Tone Industries Ltd., Ricoh Co. Ltd., RR Donnelley and Sons Co., Stratasys Ltd., The Odd Factory, Transcontinental Inc., and Zebra Technologies Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
Commercial Printing Market- The Global Commercial Printing Market size is estimated to grow by USD 49.89 billion between 2022 and 2027 accelerating at a CAGR of 2.49%.
The industrial printing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Industrial Printing Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8% |
Market growth 2023-2027 |
USD 73.32 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.55 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACME printing, Adobe Inc., Applejet India OPC Pvt. Ltd., Brother Industries Ltd., Cefla SC, Dai Nippon Printing Co. Ltd., Danaher Corp., Electronics For Imaging Inc., HP Inc., Inkcups Now Corp., Nano Dimension Ltd., Pannier Corp., Physik Instrumente GmbH and Co. KG, Rex Tone Industries Ltd., Ricoh Co. Ltd., RR Donnelley and Sons Co., Stratasys Ltd., The Odd Factory, Transcontinental Inc., and Zebra Technologies Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Service
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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