Dublin, March 14, 2024 (GLOBE NEWSWIRE) -- The "Global Printed Signage Materials Market: Analysis By Material Type, By Application, By End User, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
The global printed signage materials market value in 2023 stood at US$45.36 billion, and is likely to reach US$54.58 billion by 2029. The global printed signage materials market value is projected to grow at a CAGR of 3.13%, during the forecast period of 2024-2029.
One of the prominent factors driving the rise in printed signage materials' demand include expanding retail industry and increasing advertising expenditure across various business sectors. Printed signage has remained a crucial component of advertising campaigns, driving demand for materials such as banners, billboards, and posters.
The key players are constantly investing in strategic initiatives, such as adoption of new technologies, introducing their services to emerging markets and more, to maintain a competitive edge in this market. For instance, in 2023, Avery Dennison incurred US$136.1 million expenditure in research and development to meet the growing demand of the printed signage industry. Similarly, In April 2022, ORAFOL Group invested approx. US$160 million to expand the production at its headquarter in Bradenburg. This investment will be used for the construction of two new production halls by 2024. ORAFOL will establish a completely autonomous production facility that will be used to finish plastics for numerous industries.
Asia Pacific printed signage materials market enjoyed the highest market share in 2023 and is the fastest growing region as well, primarily owing to reasons such as rapid economic growth, increased consumer spending, urbanization, and infrastructure development, expansion of retail chains, shopping malls, commercial complexes, and entertainment venues.
Even, the growth of the tourism and hospitality industry is driving demand for printed signage materials in hotels, resorts, theme parks, airports, and tourist attractions for branding, wayfinding, and guest communication. Furthermore, with growing awareness of environmental issues, there is a rising demand for eco-friendly and sustainable signage materials in the Asia Pacific region. China accounted for the largest revenue share in 2023 because China's economic growth has not only bolstered consumer spending but also spurred infrastructural advancements, creating a demand surge for printed signage materials across diverse industries.
Additionally, rapid urbanization and infrastructure development in emerging economies have also led to increased demand for signage materials for urban beautification, transportation infrastructure, and public facilities. Furthermore, the printed signage materials market is predicted to grow due to escalating regulatory demands, growing awareness of using ecofriendly materials, growing popularity of soft signage and 3D printing.
Market Segmentation Analysis:
Plastic segment acquired majority of share in the market in 2023 due to its affordability, light weight, greater durability, versatility etc. Plastics are staple of the sign and sign industry, commonly used for all type of banners, vehicle wraps, and outdoor signage since plastic offers excellent resistance to chemicals and has good insulating properties and is also weather resistance.
While, paper and paperboard segment is the fastest growing segment as paper board is a fully recyclable, sustainable option for short-term point-of-purchase (POP) displays, exhibits, signage (hanging and 3-dimensional), window displays, and sophisticated packaging. The affordability, versatility and recyclability of paper and paperboard make them popular choices for businesses seeking cost-effective signage solutions.
Banners and posters acquired majority of share in the market in 2023, as they are portable, affordable, and simple to install. The widespread use of banners and posters across various industries, events, and public spaces drives market growth. While, PoP displays segment is the fastest growing segment due to expanding retail industry.
The retail industry's focus on enhancing the customer shopping experience and increasing sales drives the demand for PoP displays. They play a crucial role in influencing purchasing decisions at the point of sale and differentiating brands from competitors. Future trends in PoP displays may include the integration of interactive elements, such as QR codes or NFC technology.
Retail segment acquired majority of share in the market in 2023 and is the fastest growing segment as well. The retail sector's continuous expansion, particularly with the growth of e-commerce and brick-and-mortar stores, drives demand for printed signage materials. Signage in retail environments plays a crucial role in attracting customers, enhancing the shopping experience, and driving sales.
Future trends in retail signage may include focus on sustainability by adopting eco-friendly signage materials and incorporating QR codes or NFC technology for seamless omnichannel experiences.
Market Dynamics
Growth Drivers
- Expanding Retail Industry
- Economic Development
- Cost-Effectiveness
- Regulatory Compliance and Safety Standards
- Usage of Printed Signage by Various Industries
Challenges
- Growing Popularity of Digital Signage
- Limitations in Extreme Weather Conditions
Market Trends
- Growing Popularity of Soft Signage
- Rising Focus on Using Eco-Friendly Printed Signage Materials
- Increasing demand for Large Format Printing
- 3D Printing for Signage
Company Profiles of Key Players: Business Overview, Financial Insights, Strategy
- Thyssenkrupp AG
- Avery Dennison Corp
- Novelis Inc.
- 3A Composites GmbH
- IGEPA Group Gmbh & Co.
- Spandex AG
- ORAFOL Europe GmbH
- Antalis
- Lintec Europe (UK) Ltd.
- Vink Holdings Ltd
- Inapa Investimentos Participacoes e Gestao SA
- Signage Wow
For more information about this report visit https://www.researchandmarkets.com/r/k5cr9q
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