The Business Research Company (TBRC), the London-based market research and intelligence provider, has forecast the growth of the global printing industry through 2026 in its recently published ‘Printing Machinery and Equipment Global Market Report 2022 – Market Size, Trends, and Global Forecast 2022-2026.’
According to the report, the global printing machinery and equipment market sales of printing presses, prepress and binding equipment is expected to grow from $46.58 billion in 2021 to $76.3 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
Rapid advances in technology are the main driver of the market. Instant and on-the-go printing is one of the latest innovations shaping the printing machinery and equipment global market outlook. The wireless connectivity in portable printers gives users hassle-free printing by using the relevant smartphone app. The futuristic technology will also encourage the next generation of young users to be more creative and accustomed to using printers with this technology.
In addition, technologies such as 3D printing, artificial intelligence, and big data analytics are being increasingly applied in the field of manufacturing for higher productivity and lower operating costs which both contribute to higher margins. IoT applications, mobile applications, advanced sensors, and embedded software have all created new opportunities for companies in this market.
Another segment is the global printing market which is expected to witness higher sales of print products including newspapers, books and magazines, labels, business cards, stationery, and other materials. The global printing market is expected to grow from $311.5 billion in 2021 to $350.2 billion in 2026 at a CAGR of 2.1%.The use of digital inkjet printers is gaining popularity in this segment with its faster printing rate, greater efficiency, and reliability as compared to traditional printers.
With 3D technological advances as the main driver, the printing inks market is also expected to grow. The global market in 2021 of $28.2 billion is expected to grow at a CAGR of 3.8% to $34.36 billion by 2026. With additive manufacturing gaining immense popularity worldwide, the demand for 3D printing inks is likely to grow.
However the global printing ink industry is not without its share of problems. The past few years have been extremely challenging in terms of supply of key raw materials for inks and their ingredients, leaving ink companies scrambling to buy inks and coatings at much higher prices. However, with subsequent mergers and acquisitions, top ink companies have consolidated their positions by widening their products and services spectrum and by entering emerging regional markets.
Rising demand in plate making, data imaging, and book binding services has propelled the printing and related support activities global market to grow from $335.2 billion in 2021 to $337.3 billion in 2026 at a CAGR of 2.1%.
The introduction of LED-UV and metal 3D printing technologies in offline post-press and finishing services saves energy, has short lead times, are environmentally friendly, are highly durable, and provides consistent quality.
