Market Trends of Inkjet Printing Industry
This section covers the major market trends shaping the Inkjet Printing Market according to our research experts:
Advertisement is Anticipated to Hold a Dominant Share of the Market
- Advertising constitutes the point of sales (POS) and displays and is considered one of the fastest-growing segments. Soft signage is a common industry term that is used to describe digitally printed fabric signage. Although soft signs are limited to a particular ink set, they are typically printed on a polyester-based textile and, on occasion, natural fiber such as cotton or a cotton blend.
- Banners hold a significantly large share in advertising media due to their versatility and use across several applications. Various types of materials are available in the market, including fabric banners, vinyl banners, and mesh banners.
- As the demand for printed textiles and requested size continues to increase, digital press vendors are beginning to introduce digital textile printers that are capable of handling substrates up to and beyond 3 meters wide. Although this area has historically been dominated by traditional printing methods, companies like EFI, d.gen, Durst, and Mimaki are entering with grand format digital textile printers.
- Digitization has been a major game-changer in the printing industry, which includes product personalization, innovation, and communication that aligns closely with the growing capabilities of digital printing. As consumers want the products to be interactive and contain everything there is to know about them. The devices are equipped with technology features, such as QR codes with links to social media, virtual reality, etc.
- The implementation of IoT in inject printing further reduces physical intervention and increases automation. It helps to analyze the probable downtime by regularly monitoring and recording the actual operating conditions of the equipment and its system performance. This data is analyzed over a period of time, allowing companies to predict machine failure and identify parts that need replacement, avoiding costly unexpected downtime.
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Asia-Pacific is Expected to Register the Fastest Growth During the Forecast Period
- Driven by China, India, and a host of fast-growing countries, the Asia-Pacific region has become the world's largest region for printing ink. On the other hand, The region is home to many of the largest multinational ink manufacturers. DIC, Sakata INX, Toyo Ink, and T&K Toka call Japan home, and the rest of the major leaders have large operations in the region.
- Also, numerous printing companies based in Europe are dependent on China for the supply of novel chemicals, such as constituents of inks and solvents, which are required in printing procedures as input materials. On top of that, increasing investment by smartphone companies in the manufacturing of these printers is a significant factor pushing sales in the country.
- In the case of COVID-19, the Asia-Pacific, especially India, witnessed an unprecedented rise in the number of coronavirus cases, which led to the discontinuation of industrial inkjet printer manufacturing activities.
- However, Etiquettes Pierre Foucher and commercial offset printer Imprimerie Coste & Films shifted from inkjet technology to install toner-based AccurioLAbel 230 printers to meet the demand for shorter runs and quick turnaround times from their customers. The new design model of Accurio offers a maximum print speed of 76ft/min, shorter warm-up times, and an optional over-print kit.
- The Asia-Pacific region also dominates the custom apparel printing market, which includes custom t-shirt printing. Also, the region is expected to witness a significant growth rate over the coming years. Therefore, the demand for large format inkjet printers is expected to increase.
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