The global inkjet printing market will expand at an annual rate of 8% over the next five years to reach a value of $US138 billion by 2027, according to new data from industry researcher Mordor Intelligence, through ReportLinker. “Advertisement is anticipated to hold a dominant share of the market,” it said. “Advertising constitutes the point of sales (POS) and displays and is considered one of the fastest-growing segments.”
The global inkjet printing market was valued at USD 86.29 billion in 2021, and it is expected to reach USD 138.81 billion in 2027, according to Mordor Intelligence's/ Reportlinker’s "Inkjet Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)." The market is expected to register a Compound Annual Growth Rate (CAGR) of 8%.
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| POS displays are a strong growth area (IVE pic) |
“The major advantage of using inkjets is due to its capability to produce short runs and unique products effectively,” the report says. “The rise of online ordering and specification via web-to-print technology is propelling commercial printing forward. Inkjet printers’ capacity to produce small runs and one-off products solidified their position as a key enabler in such an ecosystem. Moreover, smart production, speed, flexibility, and cost control also drive the adoption of inkjet printing as the businesses can become more flexible and responsive to customer requirements through the adoption of digital print, thus fueling the growth of the Inkjet Printing Market.
“Since the inkjet printing industry creates demand for inks, the ecosystem of inks is expected to evolve too. Currently, solvent, water-based, and UV-based inks are widely used. LED inks, on the other hand, are constantly evolving. Hybrid UV/water systems are making their way onto the market. High ink costs, on the other hand, remain a major problem, resulting in lower vendor conversion rates, from analogue to digital.
Key Market Trends
“Advertising constitutes the point of sales (POS) and displays and is considered one of the fastest-growing segments. Soft signage is a common industry term that is used to describe digitally printed fabric signage. Although soft signs are limited to a particular ink set, they are typically printed on a polyester-based textile and, on occasion, natural fibre such as cotton or a cotton blend. Banners hold a significantly large share in advertising media due to their versatility and use across several applications.
“As the demand for printed textiles and requested size continues to increase, digital press vendors are beginning to introduce digital textile printers that are capable of handling substrates up to and beyond 3 meters wide. Although this area has historically been dominated by traditional printing methods, companies like EFI, d.gen, Durst and Mimaki are entering with grand format digital textile printers.
Asia Pacific is Expected to Register the Fastest Growth During the Forecast Period
“Driven by China, India, and a host of fast-growing countries, the Asia Pacific region has become the world’s largest region for printing ink. The region is home to many of the largest multinational ink manufacturers. DIC, Sakata INX, Toyo Ink, and T&K Toka call Japan home, and the rest of the major leaders have large operations in the region.
"Also, numerous printing companies based in Europe are dependent on China for the supply of novel chemicals, such as constituents of inks and solvents, which are required in printing procedures as input materials.
"The Asia-Pacific region also dominates the custom apparel printing market, which includes custom t-shirt printing. Also, the region is expected to witness a significant growth rate over the coming years. Therefore, the demand for large format inkjet printers is expected to increase."
Read the full report: https://www.reportlinker.com/p06249274/?utm_source=GNW
