Specialty Printing Consumable Product Market: Snapshot
Printing performed on any material except paper is called as specialty printing. Inks, specialty substrates, toners, and chemicals are some of the consumables used for specialty printing. The global specialty printing consumable product market is projected to show prominent growth avenues during upcoming period. The key reason behind this projection is increased use of specialty printing consumable products in offices, institutions, and professional service firms for large-scale printing requirements.
On the basis of printing process, the global specialty printing consumable product market is segmented into flexographic printing, digital printing, rotogravure printing, and lithographic printing.
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Increased Demand for Specialty Printing Consumables Offers New Avenues for Market Growth
Ink, toners, chemicals, and specialty substrates are the key products of the global specialty printing consumable product market. These products find application in numerous sectors. Increased use of these products in offices and other institutes signifies the scope for entry of new players to fulfill the growing need. Commercial printing, consumer and packaging, and publishing are some of the key sectors that offer tremendous avenues for the expansion of global specialty printing consumable product market.
In commercial printing and publishing, specialty printing consumables are used for the printing of magazines, newspapers, advertisements, books, labels, and periodicals. While liquid toners find use in industrial printing, dry toners are used in printer cartridges. Growing use of toners in copiers, laser printers, and fax machines is projected to stimulate the specialty printing consumable product market growth.
Many vendors are pouring investments in research activities. The key motive of this move is to offer superior quality products for end-users. These initiatives are expected to push the global specialty printing consumable product market in the upcoming period. Canon Inc., DIC Corporation, HP, Xerox Corporation, and Eastman Kodak Co. are some of the key vendors in this market.
Specialty Printing Consumable Product Market – Snapshot
Specialty printing involves printing on any material apart from paper. Specialty printing consumables include inks, toners, specialty substrates, and chemicals, which find application in various printing processes such as digital printing, flexographic printing, lithographic printing, and rotogravure printing. They are used in office and professional settings, commercial printing and publishing, and other applications. The other applications include consumer and packaging sectors. Office applications include the usage of inks, toners, and printing papers for printing in offices and other institutes. Commercial printing and publishing includes the usage of specialty printing consumables in the printing of newspapers, magazines, books, advertisements, periodicals, and labels among others.
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Increase in the use of specialty printing in institutions, offices, and professional service firms for large-scale printing requirements is expected to fuel the market during the forecast period. Furthermore, developments in the media and advertising sectors are projected to boost the applications of new printing technologies, which include specialty printer ink, 3D printers, and other eco-friendly products in the market. However, the introduction of less time consuming and cost-effective products is likely to pose a threat to the specialty printing consumable market. In order to overcome the threat, manufacturers of specialty printers have introduced products such as advanced printer inks with innovative technology for flexography, lithography, and rotogravure. Advanced machinery and software solutions in the printing industry have assisted printing service providers and their end-users in achieving cost reduction and low wastage of raw materials. It has enabled them to carry out complex printing projects in the printing production process. Expansion in the textile printing industry is likely to spur the application of digital printing technology in the market over the forecast period. Expansion in the industrial and IT sectors is anticipated to drive demand for specialty printing consumables required for business communication activities in their business processes.
Based on product, the specialty substrate segment is expected to expand at a rapid pace during the forecast period. Expansion in the digital camera industry has led to increased volumes of domestic printing and printing kiosks. This has further resulted in high demand for the application of high-quality paper. Toner is projected to be a prominent segment in terms of revenue. Toners are used in fax machines, copiers, and laser printers. An increase in installed laser printer capacity is considered to be the primary factor responsible for the development of the sector. Since toners are a vital element of laser printers, the demand for toners is highly influenced by the sale of laser printers. Digital printing is expected to gain traction in the market over the forecast period. The expansion of the digital printing segment is attributed to its cost effectiveness, since it is considered a low volume production technique. The office and professional segment is anticipated to hold a major share in terms of revenue during the forecast period. Increase in the construction of institutional buildings and new offices is likely to lead to an increased installed base of printers. Additionally, a rise in the preference for color printers in offices is projected to promote gains as color toners are priced higher in comparison to black toners.
Rise in investment in the printing industry in China and Japan, especially in the 3D printing sector, has made the specialty printing consumable market in Asia Pacific the most promising regional market globally. The specialty printing consumable market in Europe is also expected to expand at a rapid pace during the forecast period due to an increase in demand for specialty printing in the textile sector, technological improvements, and rise in the application of specialty printing in the expanding packaging industry. Rise in industrialization and advancements in the advertising and media sectors have led to increased demand for printed material in the region.
Some of the major players in the global specialty printing consumable 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. Increase in focus on technological and product innovations is expected to aid suppliers to remain competitive in the market. Furthermore, development of new specialty printing consumables are anticipated to reduce the production cost and help companies expand in the price sensitive market.