An increase in the use of specialty printing consumables for printing requirements of large-scale commercial sectors such as packaging and textiles, and in educational institutions and offices, has propelled a massive growth in the specialty printing consumable market on a global scale.
The growth in specialty printing consumables including products ranging from toner and ink cartridges to printer drums and ribbons is attributed to the increase in commercial printing applications such as advertisements, labels, newspapers, and periodicals. The growing needs of the textile industry and the packaging sector have triggered a major market expansion.
Novel and efficient printing technologies used in automotive, decorative designing, packaging, printed electronics, and publishing like 3D printing, hybrid printing, micro dispensing, and nano-scale printing has spurred demands for specialty consumables in printing. Given the potential for using 3D printing technology in varied end-use sectors, the rapid growth in 3D printing is expected to drive market gains, specifically from developing economies.
Despite the COVID-19 global crisis, the global market for specialty printing consumables is projected to grow from $35 billion in 2020 to $44.4 billion by 2026 at a CAGR of 4% over the analysis period. The toners segment accounts for a 24% share of the global specialty printing consumables market, projected to grow to $16.5 billion worth of the market share by 2026. Toners are used for a wide variety of applications in commercial publishing such as journals, newspapers, and novels. The specialty substrates segment is expected to grow at a steady pace given the growing substrates demand and the constantly evolving inkjet production market.
Specialty printing inks is another segment experiencing substantial gains with its ability to differentiate a manufacturer’s product from that of its competitors, and identify theft or counterfeiting to protect security documents. UV-cured inks are gaining popularity as sustainable options with lower volatile organic compound emissions and less curing time, reducing overhead costs.
Canada, China, Japan, USA, and Europe accounted for $8.2 billion in 2020, projected to reach $10.5 billion by 2026 at a CAGR of 3.6%, with China expected to have the fastest market growth in this cluster. The Asia-Pacific market led by Australia, India, and South Korea is forecast to reach $1.9 billion by 2026.