Dublin, February 16, 2021 (GLOBE NEWSWIRE) – The report “Inkjet Printing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)” has been added ResearchAndMarkets.com Offer.
The inkjet printing market was estimated at $ 40.79 billion in 2020 and is projected to reach $ 49.20 billion with an annual growth rate of 3.11% over the forecast period 2021-2026. Today’s high-speed inkjet devices provide improved printer quality and productivity for advertisers, and this is what drives the market. The inkjet printer market has grown tremendously in recent years.
Due to the intensified competition for market shares among inkjet manufacturers, many innovative concepts and technological inventions have emerged that are explicitly shown in today’s color inkjet products. With the ability to print vivid color images at a comparatively low cost, inkjet has dominated the market for home, small office, and large format color printers. The delicate balance between image quality, image durability, print speed, purchase price and operating costs will determine the remnant of inkjet technology in the color printer market.
Inkjet printing is the fastest growing printing process in graphic and packaging printing. Inkjet will perform strongly than any other competing system for the next several years, largely due to the huge investment in inkjet technology. It has become an important production tool for various applications, with printers and printing machines taking various forms. Book printing is a growing area for inkjet printing, while magazines and catalogs are seeing significant growth. Inkjet is widely used in commercial printing applications, with large format and high speed printing machines complemented by very high quality inkjet printing machines.
The most important change is in packaging – as new high-performance machines hit the market and early adopters benefit from developing new services for customers. Additional applications can be seen in ceramics, décor, textiles, glass, biomedical and electronics using inkjet printing, highlighting the range of capabilities developed according to commercial standards for digital printing. The main drivers for the introduction of inkjet are big data, the Internet of Things and the digitization of printing processes and packaging.
In addition, smart manufacturing, speed, flexibility, and cost control are driving the adoption of inkjet printing as the adoption of digital printing will make companies more flexible and able to respond to customer demands, thereby fueling the growth of the inkjet printing market. While switching to inkjet has potential benefits, there are also limitations – such as the higher printing costs for longer runs, especially when compared to analog printing.
Major market trends
The label is expected to hold a dominant market share
- Label printing is emerging as one of the fastest growing segments in the market due to the increasing demand for custom packaging and the need to provide product information due to strict regulations in nearly every industry.
- Label printing is a narrow web application with the required web widths of between 5 and 15 inches, requiring only a few printheads to be “sewn” together to create the array of nozzles that span the width for each color. Since improved print quality requires adequate control of the substrate during printing, single-pass inkjet printing on a narrow web is ideal for making labels.
- Inkjet accounts for the largest share of R&D spending in the printing industry. These investments are expected to result in significant improvements in the quality and reliability of the equipment. New inkjet printing machines that are introduced can print faster and represent a significant advancement in the automation of material handling to improve the productivity of lower speed printing machines.
- Screen Graphic Solutions Co. Ltd recently announced plans to launch the updated version of the Truepress Jet L350UV, its first label printer designed specifically for this area. In addition to superior scalability, the updated printer offers better color reproduction, enabling vendors to meet a wide variety of market needs. The company plans to launch the system globally in January 2020. In addition to the standard CMYK, this version can be loaded with white, orange and blue inks for a total of seven colors. Screen Graphic Solutions Co. Ltd. has also introduced proprietary color management technologies for this version in collaboration with CGS Publishing Technologies (Germany).
- A growing trend also points to the increased integration of postpress finishing systems in order to take full advantage of the automated printing process. This is even more important for inkjet lines because the built-in finishing limits the flexibility of a toner line. AstroNova recently unveiled TrojanLabel T5, which is based on the industry-leading TrojanLabel T3 digital inkjet label press and combined with a smart and compact converter unit that offers UV flexo varnish, lamination, rotary die cutting, cutting and waste removal.
Europe dominates the inkjet printer market
- With the growing demand for packaging solutions in Spain, supporting service providers and equipment suppliers are flocking to meet the needs of the suppliers. For example, digital printing company EFI is strengthening its presence in the Spanish packaging market as two companies based in the country have chosen to invest in Nozomi C18000 LED inkjet corrugated packaging printing technology.
- In December 2019, the Vignola Consortium used an HP PageWide T1100S high speed color inkjet corrugated packaging machine to print a unique QR code on each box of Vignola cherries. It allows customers to scan the code and create a short link to a unique website where they can see traceability information for their specific box of cherries.
- In addition, there are many manufacturers of print labeling equipment in Italy, such as Lombardi, who equip flexographic printing machines with conversion technology. It also offers custom inkjet solutions. OMET also offers label and packaging printing machines.
- However, Etiquette Pierre Foucher and commercial offset printer Imprimerie Coste & Films switched from inkjet technology to installing AccurioLAbel 230 toner-based printers to meet customer demand for shorter runs and short lead times. Accurio’s new design model offers a maximum print speed of 76 feet / min, reduced warm-up times and an optional overprint kit.
The inkjet printing market is very fragmented. In order to exploit the latent potential of the inkjet printing market, there are many market participants who are present in the ink scene and contribute to a robust competitive landscape. Whether product launches, mergers, takeovers or new marketing strategies – the market is highly competitive. HP Inc., Canon, Brothers Industries Ltd., is a major player in the global inkjet printing technologies market share. The companies are involved in many growth and expansion strategies in order to gain a competitive advantage. Business participants also pursue the value chain alliance with business transactions in various steps of the value chain.
- November 2019 – Canon India, one of the leading companies for digital image processing, reaffirms its motto “Business Can Be Simple” and announces the introduction of its new lounge “Business Imaging Solutions” (BIS) in Calcutta. Stop target for any office imaging needs from large or small businesses in the area.
- September 2020 – Canon India announced that Replika Press Pvt. Ltd. installed the VarioPrint i300, a sheet-fed B3 inkjet color digital printer. With this installation, Replika Press becomes the first company in India to acquire the solution leading the book printing market in investments in inkjet technology.
Reasons to Buy This Report:
- The market estimate sheet (ME) in Excel format
- 3 months analyst support
Main topics covered:
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Introduction to Market Drivers and Restrictions
4.3 Market drivers
4.3.1 Big Data, the Internet of Things and the digitization of printing processes and packaging
4.3.2 Smart production, speed, flexibility and cost control
4.4 Market Restrictions
4.4.1 Growing popularity of digital advertising media
4.4.2 High prices and investments as well as technological constraints
4.4.3 Cut-throat competition between established technologies such as flexographic printing and screen printing
4.5 Market Opportunities
4.5.1 A shift towards sustainability can increase market growth.
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.6.1 Suppliers’ negotiating power
4.6.2 Bargaining power of consumers
4.6.3 New Participant Threat
4.6.4 Intensity of competitive rivalry
4.6.5 Threat from Substitute Products
4.7 Effects of COVID-19 on Industry
5 MARKET SEGMENTATION
5.1.1 Books / publications
5.1.2 Commercial printing
5.1.7 Other applications (photo books, magazines, newspapers, security)
5.2.1 North America
184.108.40.206 Eastern Europe
220.127.116.11 Western Europe
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company profiles *
6.1.1 HP Development Company, LP
6.1.2 Jet Inks Private Limited
6.1.3 Brother Industries Ltd.
6.1.4 Xerox Corporation
6.1.5 Canon Inc.
6.1.6 Domino Printing Sciences PLC
6.1.7 Hitachi Industrial Equipment Systems Co. Ltd.
6.1.8 Lexmark International Inc.
6.1.9 Videojet Technologies Inc.
6.1.10 Inkjet Inc.
6.1.11 Fujifilm Holdings Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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