Dublin, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The "Inkjet Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The inkjet printing market was valued at USD 40.79 billion in 2020 and is expected to reach USD 49.20 billion at a CAGR of 3.11% over the forecast period 2021 - 2026. Today's high-speed inkjet devices offer enhanced quality and productivity for early-adopter commercial printers, and this is driving the market forward. The market for ink-jet printers has expanded at a tremendous pace in the last few years.
Due to heightened competition for market share among ink-jet producers, many innovative concepts and technological inventions have happened that are explicitly shown in today's color ink-jet products. With the ability of printing vivid color images at comparatively low cost, ink-jet has dominated the home, small office, and large-format color printer markets. The sensitive balance between image quality, image durability, print speed, purchase price, and operation cost will define the vestige of ink-jet technology in the color printer market.
Inkjet printing is the fastest-growing print process in graphics and packaging printing. Inkjet will perform strongly than any other competing system over the next few years, largely due to the huge investments being made in inkjet technology. It has become an important production tool in diverse applications, with the printers and presses taking several different forms. Book printing is a growing area for inkjet printing, while magazines and catalogs are seeing substantial growth. Inkjet is frequently being used in commercial print applications, with wide-format and high-speed presses being joined by the very high-quality inkjet presses.
The most prominent change is in packaging - as new, high-performance machines come onto the market, and the early adopters profit by developing new services for customers. Additional applications can be seen in inkjet-printed ceramics, decor, textiles, glass, biomedical and electronics, highlighting the breadth of capability that has been developed to commercial standards for digital print. The principal driver for the adoption of inkjet includes Big Data, the Internet of Things, and the digitalization of both print processes and packaging.
Moreover, smart production, speed, flexibility and cost control also drive the adoption of inkjet printing as the businesses can become more flexible and responsive to customer requirements through the adoption of digital print, thus fueling the growth of the Inkjet Printing Market. Whilst switching to inkjet brings potential advantages, there are also restrictions - such as the higher cost of printing when it comes to longer runs, particularly when compared to analogue printing.
Key Market Trends
Label is Anticipated to Hold a Dominant Share of the Market
- Label printing is emerging as one of the fastest-growing segments in the market owing to the increasing demand for customized packaging and the need for providing product information due to stringent regulations in almost every industry.
- Label printing is a narrow web application with the required web widths ranging between 5-15 inches, thereby needing few printheads to be 'stitched' together to generate the array of nozzles spanning the width for each color. Since an improved print quality requires reasonable control of the substrate during printing, a single-pass inkjet printing on a narrow web is ideally suited for producing labels.
- Inkjet accounts for the highest shares of the print industry's R&D spending. These investments are expected to result in substantial improvements in the quality and reliability of the equipment. New inkjet presses that are being introduced can print at faster speeds and offer significant development in automation of material handling to improve the productivity of lower speed presses.
- Recently, Screen Graphic Solutions Co. Ltd announced their plans to launch the upgraded version of Truepress Jet L350UV, its first label printer explicitly designed for this field. The upgraded printer offers better color reproduction in addition to superior scalability, enabling vendors to meet a wide variety of market needs. The company plans to launch the system worldwide in January 2020. Apart from 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, in collaboration with CGS Publishing Technologies (Germany), also introduced proprietary color management technologies for this version.
- Also, a growing trend points to the increased integration of post-press finishing systems to take full advantage of the automated printing operation. This is even more critical for inkjet lines, as integrated finishing limits the level of flexibility of a toner line. AstroNova recently introduced TrojanLabel T5, built on industry-leading TrojanLabel T3 Digital Inkjet Label Press platform, combined with a smart and compact converter unit, featuring UV flexo varnish, lamination, rotary die-cutting, slitting, and waste removal.
Europe Dominates the Inkjet Printers Market
- Due to the growing demand for packaging solutions in Spain, supporting service and equipment providers are flocking to cater to the needs of vendors. For example, digital print company EFI is enhancing its presence in the Spanish packaging market, owing to two companies that are based in the country opted to invest in Nozomi C18000 LED inkjet corrugated packaging press technology.
- In December 2019, Vignola Consortium used an HP PageWide T1100S high-speed color inkjet web press for corrugated packaging to print a unique QR code on each box of Vignola cherries. It allows the customers to scan the code and be short linked to a unique website where they can see traceability information for their specific box of cherries.
- In addition, Italy has many print label equipment manufacturers, such as Lombardi, who provide flexo printing machine with converting technology. It also offers customized inkjet solutions. OMET also provides label and packaging printing machine.
- However, Etiquettes Pierre Foucher and commercial offset printer Imprimerie Coste & Films shifted from inkjet technology to install toner-based AccurioLAbel 230 printers to meet the demand for shorter runs and quick turnaround times from their customers. The new design model of Accurio offers a maximum print speed of 76ft/min, shorter warm-up times, and an optional over-print kit.
Competitive Landscape
The Inkjet Printing Market is highly fragmented, to tap the latent potential of the Inkjet Printing market, there are a lot of market players who are making their presence felt in the inks scene and contributing to a robust competitive landscape. Whether it is product launches, mergers, takeovers, or new marketing strategies, the market has vibrant competitiveness. HP Inc., Canon, Brothers Industries Ltd., are among the major players in the global Inkjet Printing Technologies market share. The companies are involved in many growth and expansion strategies to get a competitive advantage. Business participants also follow the value chain alliance with business transactions in various steps of the value chain.
- November 2019 - Reinforcing its motto of 'Business Can Be Simple', Canon India, one of the leading digital imaging company, announced the launch of its new 'Business Imaging Solutions' (BIS) lounge in Kolkata, and will serve as a one-stop destination for all office imaging requirements of organizations - big or small - in the region.
- September 2020- Canon India announced that Replika Press Pvt. Ltd. installed the VarioPrint i300, a B3 sheet-fed inkjet color digital printer. With this installation, Replika Press becomes the first company in India to acquire the solution that is at the forefront of inkjet technology investment in the book printing market.
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- The market estimate (ME) sheet in Excel format
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Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Big Data, the Internet of Things, and Digitalisation of Both Print Processes and Packaging
4.3.2 Smart Production, Speed, Flexibility and Cost Control
4.4 Market Restraints
4.4.1 Growing Popularity of Digital Advertising Media
4.4.2 High Price & Investment and Technological Limitations
4.4.3 Cut-throat Competition Among Established Technologies such as Flexographic Printing and Screen Printing
4.5 Market Opportunities
4.5.1 Shift toward Sustainability can Increase the Market Growth.
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Intensity of Competitive Rivalry
4.6.5 Threat of Substitute Products
4.7 Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Books/Publications
5.1.2 Commercial Print
5.1.3 Advertising
5.1.4 Transaction
5.1.5 Labels
5.1.6 Packaging
5.1.7 Other Applications (Photobooks, Magazines, Newspapers, Security)
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.2.1 Eastern Europe
5.2.2.2 Western Europe
5.2.3 Asia Pacific
5.2.3.1 Asia
5.2.3.2 Australasia
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, L.P.
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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