Large Format Printer Market Worth $11.4 Billion by 2026: MarketsandMarkets

According to a MarketsandMarkets research report, “Large Format Printer Market with Covid-19 Impact Analysis by Offering, Connectivity (Wired, Wireless), Printing Material (Porous, Non-porous), Technology (Ink-based, Toner-based), Print Width, Ink Type, Application, and Geography – Global Forecast to 2026,” the large format printer market is projected to reach $11.4 billion by 2026 from $8.8 billion in 2021; it is expected to grow at a CAGR of 5.4% from 2021 to 2026.

The growth of the large format printer market in North America is mainly driven by large-scale investments by companies as well as high demand for large format printers for large-scale prints. Moreover, the high adoption rate and technological advancements also drive the growth of the large format printer market in North America.

Developing countries in APAC have vast growth potential as well as a favorable environment for product manufacturers. APAC produces a large amount of apparel and textiles, and this sector is expected to grow steadily in this region.

In technology, the ink-based technology segment is expected to grow at the highest rate of the large format printer market. The reason behind the decreasing demand for toner-based printers is the replacement of these printers with inkjet printers due to their benefits such as low cost and low maintenance.

The UV cured ink type segment, of large format printer market is projected to hold a larger share during the forecast period. Though aqueous ink- and solvent ink-based printers have advantages in terms of cost and overall picture quality, they have certain drawbacks too.

Aqueous ink takes significantly more time to dry and generally is not waterproof. In addition, this type of ink deteriorates when exposed to UV light. The solvent ink, though waterproof and can withstand ultraviolet (UV) light, produces harmful chemical fumes during the printing process and requires special ventilation.

On the contrary, UV cured ink has multiple advantages; this type of ink dries almost instantaneously, is UV-resistant, and does not have any significant environmental impact. Moreover, it can be applied to a range of uncoated and on rigid surfaces. UV cured ink is increasingly replacing solvent ink despite being expensive because of its benefits mentioned above. Therefore, the demand for UV cured ink is expected to increase and hold the largest market share during the forecast period.