Specialty Printing Consumable Product Market Expected to Reach a Value of US$ 130.17 Bn by 2026
According to a new market report published by Transparency Market Research titled ‘Specialty Printing Consumable Product Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2026,’the global specialty printing consumables market is expected to reach a value of US$ 130.17 Bn by 2026. In terms of value, the market is estimated to expand at a CAGR of 4.5% during the forecast period from 2018 to 2026. Rise in the use of printing consumables in offices and institutions and a need for large scale printing are projected to drive the market during the forecast period. An expansion in the textile printing industry is projected to lead to an increase in the application of digital printing technology in the market in the near future. The construction, development, and expansion of facilities such as colleges, schools, and hospitals is likely to offer considerable growth potential to the specialty printing consumables market in the coming years.
Toner is expected to be a prominent segment of the specialty printing consumable market. Toners are utilized in fax machines, copiers, and laser printers. They are used in printer cartridges, which require dry toners. Liquid toners are required in bulk quantities for industrial printing. In terms of product, the specialty substrate segment is anticipated to expand at a CAGR of around 5.2% during the forecast period. Based on printing process, the digital printing segment is expected to expand at a robust pace in the coming years. Adoption of less time consuming printing technologies and cost-effective techniques is becoming a major trend in the market.
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The flexographic printing process segment of the specialty printing consumables market is expected to expand at a steady pace of around 4.7% over the forecast period. Flexographic printing is widely utilized in the packaging industry due to its flexibility of printing on materials such as brown paper and foil. Furthermore, in terms of application, the office and professional segment is expected to expand at a CAGR of 4.7%. a It is a prominent segment of the specialty printing consumables market in terms of revenue. Increase in the number of printer installations and improvement in digital technology are likely to drive the segment.
The specialty printing consumables market in Asia Pacific and South America is projected to expand at a rapid CAGR during the forecast period. The growth of the market in Asia Pacific is attributed to an expansion in the packaging industry in Japan and China due to a rise in the number of convenience stores and the popularity of ready-made meals in these countries. The market in the region is expected to expand at a CAGR of 4.8% during the forecast period. The market in North America is expected to expand at a CAGR of 4.5% from 2018 to 2026. The advent of 3D printing and its adoption in the construction industry has revolutionized the U.S. construction industry. An increase in demand for specialty printing consumables from the industrial sector is likely to boost the market in the near future.
Some of the major players in the global specialty printing consumables market are DIC Corporation, Canon Inc., Xerox Corporation, HP, Eastman Kodak Co., Flint Ink Inc., Nazdar Ink Technologies, L.P., Lexmark International Inc., and Fuji Photo Film Company Limited.