Specialty Printing Consumables Market Trends and Opportunity

Posted by Nicky Arora on December 3rd, 2019

According to a study conducted by Grand View Research, Inc., the Global Specialty Printing Consumables Market accounted for USD 38.04 billion in 2018 and is anticipated to expand at a CAGR of 4.1% over the forecast period (2019 to 2025). Toner, ink cartridges, printer drums, and ribbons are specialty printing consumables, which are available in the market. These specialty printing consumables are processed in the form of liquid or powder according to the model of printer used by the manufacturer. Increasing usage of printing consumables in offices and educational institutions is driving the growth of the specialty printing consumables. Another factor promoting the growth of the market is constant need for large-scale printing in commercial sectors such as packaging and textile.

Some of the major factors boosting the growth of specialty printing consumables market are rising applications in the packaging industry and increasing demand for printing across the textile industry. Availability of effective technologies for printing processes such as nano-scale printing, hybrid printing, 3D printing, and micro dispensing are contributing to the growth of the market.

These technologies are extensively used in industries such as packaging, printed electronics, publishing, automotive, and decorative designing. For instance, in January 2019, Hubergroup launched globally compliant folding carton food packaging printing ink. Hubergroup reinvented its MGA NATURA series with a single ink that complies with all the FDA standards and EC Regulations to flourish in North America and Europe.

In terms of value, North America is anticipated to witness substantial growth over the next few years. The demand for specialty substrates has increased rapidly with rise in 3D printing in sectors such as construction and healthcare in U.S. The market is anticipated to witness growth in this particular region owing to new developments in construction technologies. For instance, to make 3D printed homes across the country, a U.S. based construction company Sunconomy, has announced collaboration with Russian 3D printers Apis Cor. This 3D printing machine involves additive manufacturing, produces little-to-no waste, and consumes about eight kilowatts of energy while constructing. The machine is designed to be portable and can be transported in the back of a truck to and from sites.

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In Central and South America, Argentina and Brazil are leading consumers of printing consumables. Higher ad spending, personalization, outdoor advertising, and specialization in converting packaging are leading to the growth opportunities in the region.

Large and small manufacturers of the specialty printing consumables market are competing on the basis of price and quality. Companies such as Lexmark International Inc.; Canon Inc.; and HP specialize in manufacturing printing consumables such as specialty substrates and ink. This has helped boost the demand from countries such as U.K., U.S. and India.

The global specialty printing consumables market is moderately fragmented with presence of major companies such as Canon Inc.; DIC Corporation; Xerox Corporation; Eastman Kodak Co.; HP; Flint Ink Inc.; L.P.; Lexmark International Inc.; Nazdar Ink Technologies; Fuji Photo Film Company Limited; among others. 

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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