The global specialty printing consumables market size is projected to touch USD 50.25 billion by 2025, as per a new report released by Million Insights. It is expected to grow at a CAGR of 4.1% over the forecast period. Rising inclination towards inkjet printers for extensive printing across various industries along with evolving trends in the packaging industry is anticipated to generate high demand in the market.
Owing to enhancing modern fashions across nations, the demand for printed textiles is rising. Modern brands like Forever 21, H&M and West Side along with traditional brands like Global Desi and Chumbak have accelerated the demand for several printed textiles to produce its wide range of clothing, thus, propelling the growth of the specialty printing consumables market.
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The market growth of specialty printing consumables is fueled by the widespread application of printing in the packaging and textile industry. Accessibility of tools for printing operations like small-scale printing, hybrid printing, mini dispensing and 3D printing across various industries including packaging, automotive, printed electronics, publishing, and decorative designing has been a significant factor for the market expansion over the forecast period. For example, Hubergroup announces the launch of global compliant flexible container food packing printing toner in the year 2019. The company redesigned its previously produced MGA NATURA chain with a solo ink that matches with every criterion stated by Food and Drug Association (FDA) along with EC Regulations helped to grow the series in North America and European nations.
Specialty substrate is projected to grow with a CAGR of 4.5% from 2019 to 2025. These substrates comprised of fluorescents, metallic and vinyl which can manufacture premium prints. The demand for these products is rising due to the development of high-speed inkjet printer market. Considering these growing demands, the Canon launched inkjet printers embedded with Wi-Fi technology that make use of these specialty substrates to print colored images and high-quality prints. Such high-quality prints are expected to boost the printing market.
The commercial group of end-users is projected to accelerate the market growth on account of increasing requirements for extensive printing in industries like healthcare, media, textiles and others. Considering the various innovations in the healthcare segment, at least 20 distinct implants varying from cranial implants to the knee, spinal and hip implants permitted by the FDA to manufacture different 3D printing technologies.
North America is projected to grow at a CAGR of 4.9% from 2019 to 2025 due to the growing fast-food chain in the region. There is a continuous rise in the demand for specialty substrates in the U.S due to the arrival of 3D printing in the construction and healthcare segment. Various innovations in construction technology are projected to drive the market further. For example, Economy, U.S built construction giant partnered with Russian 3D printers Apis Cor to create 3D printed houses across the region. The 3D printing machine uses eight kW of electricity during constructing and it involves additional manufacturing to prevent the occurrence of waste. These machines are made such that they can be carried easily in a truck while changing sites.
Lexmark International Inc.; Nazdar Ink Technologies; Flint Ink Inc.; DIC Corporation; L.P.; Canon Inc.; HP; Fuji Photo Film Company Limited; Eastman Kodak Co.; and Xerox Corporation are some of the leading players. One of the leading player HP announced the launch of its foremost 3D printers in India known as HP Jet Fusion 540 (black & white) and 580 (colored) in the year 2019 to expand its dominance in several industries in the Indian Market.
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Further key findings from the report suggest:
• North America is expected to reach USD 15.09 billion by the end of 2025.
• Toner accounted for the market share of 35.64% in 2018 and is anticipated to showcase a drastic increase over the forecast period.
• APAC is the fastest emerging market, leading the global specialty printing consumables market ascending with a CAGR of 4.9% over the forecast period.
• Increasing demand for print consumables in big companies and small offices due to growing requirements on day to day basis has resulted in rising use for specialty printing consumables in countries like India, the U.K., and Germany.
• The industry comprised of high competition with leading players HP; Nazdar Ink Technologies; Fuji Photo Film Company Limited; Canon Inc.; Eastman Kodak Co.; DIC Corporation; Flint Ink Inc.; L.P.; Lexmark International Inc.; and Xerox Corporation.
Million Insights has segmented the global specialty printing consumables market based on product, end user, and region:
Specialty Printing Consumables Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Specialty Substrates
Specialty Printing Consumables End User Outlook (Revenue, USD Billion, 2015 – 2025)
• Educational Institutions
Specialty Printing Consumables Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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