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    Breaking News

    Specialty Printing Consumables Market to Register 4.1% CAGR from 2019-2025: Grand View Research

    The market size was valued at USD $308.6 million in 2018.

    Specialty Printing Consumables Market to Register 4.1% CAGR from 2019-2025: Grand View Research
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    07.11.19
    The global specialty printing consumables market size was valued at USD $308.6 million in 2018 and is expected to expand at a CAGR of 4.1% from 2019 to 2025. Specialty printing consumables include products ranging from toner and ink cartridges to printer drums and ribbons. These are either processed in the form of powder or liquid as per the model of printer used by the manufacturer. The growing use of printing consumables in offices and educational institutions and the need for large-scale printing in commercial sectors such as textile and packaging have been driving the growth.
     
    Rising demand across the textile industry for printing and rising applications in the packaging industry are a few major factors augmenting the specialty printing consumables market growth. Availability of effective technologies for printing processes such as hybrid printing, nano-scale printing, micro dispensing to 3D printing used in industries such as printed electronics, packaging, publishing, decorative designing, and automotive have contributed to the market growth over the years. For instance, Hubergroup launched globally compliant folding carton food packaging printing ink in January 2019. Hubergroup reinvented its MGA NATURA series with a single ink that complies with all the Food and Drug Administration (FDA) standards and EC Regulations to flourish in Europe and North America regions.
     
    Based on product-type, toner held the largest market share of 35.64% in 2018. Toner being a powdered mix is used in laser printers and photocopies to print images and text on paper. It is widely used for commercial publishing such as newspapers, novels, and journals. With the booming education industry worldwide, the demand for printed study material is on a rise, thereby boosting the growth of specialty printing consumables in this segment. The demand for chemicals is expected to decline over the forecast period owing to factors such as skin problems and respiratory issues due to long-term exposure to the chemical vapors. For instance, Switzerland is the only European country that currently has legislation namely Swiss Ordinance RS 817.023.21 that has established specific provisions for several types of food-contact materials and articles, including food packaging printing inks.
     
    With upgrading aesthetic fashion trends in regions such as Asia Pacific (APAC) and Europe, the popularity of textile is on the rise. Online brands such as Ajio Life and Shein have augmented the demand for different printed fabrics to manufacture its clothing range, thereby serving the specialty printing consumables industry to boost substantially over the forecast period. Moreover, with the growing fast-food industry in the APAC region, the printed packaging market is expected to expand in the next seven years.
     
    Product Insights
    Ink product held the market share of 30.64% in 2018 and is expected to witness substantial growth over the forecast period. The typical inkjet printer uses fluid ink to create text and pictures and has a larger market compared to other types of printers available. Dye-based inks are generally used to print ATM receipts as the ink is cheaper and the printed text disappears over time. Hence, applications like these will augment the growth of printing ink in the expected years.
     
    Specialty substrate is anticipated to witness the fastest CAGR of 4.5% over the forecast period. These substrates include vinyl, metallic, and fluorescents which could produce high-quality prints. The demand for such substrates is growing sharply as the high-speed; production inkjet market continues to evolve. For instance, the new HP inkjet printers use such specialty substrates to produce fine-quality, colored image prints and are witnessing high demand.
     
    End-User Insights
    With the rise in the use of printing consumables in small offices and big corporates owing to heavy requirements on an everyday basis has led to an increased demand for specialty printing consumables in this category. Moreover, with a growing, younger population, the number of schools and colleges is also on the rise. This would lead to a higher demand for printed study material thereby augmenting the growth.
     
    The commercial category in the end-user segment is expected to boost due to the growing need for large scale printing in sectors such as textiles, healthcare, and media, are a few to name. This increased demand for specialty printing consumables especially inks and specialty substrates in the commercial sector is anticipated to grow and capture a market share of 40.53% by the end of 2025. For instance, with the advancement of the healthcare sector, more than 20 different implants ranging from cranial implants to hip, knee, and spinal implants approved by the Food and Drug Administration (FDA) are produced with various 3D printing (additive manufacturing) technologies.
     
    Regional Insights
    In terms of value, North America is expected to register a revenue of USD $122.4 million by 2025. With the rise in 3D printing in sectors such as healthcare and construction in the U.S., the demand for specialty substrates has increased rapidly. The market is expected to witness growth especially with new developments in construction technologies in this region. For instance, a U.S. based construction company Sunconomy has teamed up with Russian 3D printers Apis Cor to make 3D printed homes across the country. This 3D printing machine consumes eight kilowatts of energy while constructing and as it involves additive manufacturing it produces little-to-no waste. The machine is designed to be portable in that it can be transported in the back of a truck to and from sites.
     
    Brazil and Argentina are the leading consumers of printing consumables in Central and South America (CSA) due to higher ad spending, personalization, outdoor advertising, and specialization in converting packaging offer growth opportunities. The region is expected to expand at a CAGR of 3.4% over the forecast years. For instance, Siegwerk Druckfarben AG & Co. KGaA has signed a contract to purchase family-owned Tupahue Tintas, one of the Brazilian market leaders for flexo and gravure printing inks and varnishes located in Diadema. This acquisition will help companies witness growth opportunities in Brazil.
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