Specialty Printing Consumables 2020 Global Market Size, Status, Analysis and Forecast 2027
global Specialty Printing Consumables market is forecasted to grow at a rate of 4.3%, from USD 39.87 billion in 2019 to USD 56.04 billion in 2027.
global Specialty Printing Consumables market is forecasted to reach USD 56.04 Billion by 2027, according to a new report by Reports and Data. Increasing preference for inkjet printers in mass publishing and changing trends in the packaging industry are expected to drive the market demand. The growing demand for printed fabrics, due to upgradations in contemporary fashion trends, also leads to increased consumer consumption.
A rapid increase in packaging applications, such as food, beverages, and restaurants, is a primary factor in propelling growth. Introduction of the latest technologies, such as nano-scale printing, hybrid printing, 3D printing, and microdispensing in various end-use industries, such as packaging, printed electronics, decorative designing, publishing, and automotive, lead to an increased demand for the product. New players entering the market are coming up with more innovations to capture the market share, and this is expected to further drive the market growth.
A growing need for large-scale printing, especially in commercial applications, leads to increased product consumption. The product is also used in industries like healthcare and media. Various implants in the healthcare sector, such as cranial implants and hip implants, are produced using multiple 3D printing technologies. The growth of the healthcare sector leads to increased consumption of the product, thus driving market demand.
The COVID-19 impact:
The COVID-19 pandemic has led to many industries shutting down operations temporarily, as lockdowns have been imposed in many regions. This has led to major industries that find applications for Specialty Printing Consumables, also halting operations. Hence, there is a decline in the demand for the product. Also, major manufacturers involved in the market are not operating currently, leading to a decline in the supply.
It is expected that once the COVID-19 pandemic is over and the industries start operating again, the demand for the product will rise. Also, major manufacturers, who have currently halted operations due to the pandemic, are involved in innovations of the product. This would help them capture a more significant market share in the future. This will also lead to higher overall market size.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/specialty-printing-consumables-market
Further key findings from the report suggest
Chemicals occupied 12.6% of the market share in 2019. The segment is witnessing a slow growth rate due to the increasing awareness regarding the adverse effects that chemicals have on the health of an individual. Long-term exposure to chemical vapors can cause respiratory diseases and skin disorders, due to which there is a fall in demand for the product.
The Offline segment is anticipated to grow with a CAGR of 4.0% during the forecast period. The consumers prefer to examine the product physically before purchasing to make sure it fits their requirements. Hence, this segment occupies a larger market share.
Educational Institutes are forecasted to grow at a CAGR of 4.3% in the forecast period. This is primarily due to the growing younger population, which leads to a rise in the number of schools and colleges. This augments the growth for printed study material, thus driving demand in the segment,
The Middle East and Africa occupied a significant share of the market share in 2019. This is due to the growing corporates in the region. Increasing commercial applications also drive the market growth in the region, especially in countries such as UAE, Saudi Arabia, and South Africa.
China is one of the largest producers and exporter of Specialty Printing Consumables in the world. This is because major companies of the world have set up their manufacturing centers in the country due to the availability of cheap labor and lower tax rates. The country also ranks high in terms of ease of doing business.
Key participants include Sun Chemical Corp., Siegwerk Druckfarben AG & Co. KGaA, Marabu GmbH, Saati S.P.A., Nazdar Ink Technologies, Canon Inc., DIC Corp., Eastman Kodak Co., Xerox Corp., and HP Development Co., among others.
For the purpose of this report, Reports and Data have segmented into the global Specialty Printing Consumables market on the basis of product, distribution channel, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of MEA
Rest of LATAM
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