The global Commercial Printing Market has an estimated value of $411.99 billion for the year 2020. It is expected to be around $472.35 billion by 2026 with a CAGR of about 2.24% in 2021-2026.
These facts are enough to dictate the global future of Commercial printing equipment especially in the year 2021. Then it doesn’t matter whether it’s about Industrial Thermal Inkjet Printers, Automatic Inline Inkjet Printers, or Portable Handheld Inkjet Printers, they are all going to be a part of the revolution.
Let us go through this in detail to know what the future holds for Commercial Printing Equipment.
Future of Commercial Printing Market
If we talk about the commercial printing market, it is expected to grow a lot. The technological proliferation, rising applications, and so on are being anticipated to encourage the demand on the global level. Moreover, the need for short-run production for a variety of applications is increasing at a rapid pace for commercially printed materials. These materials include books, direct mail, catalogs, and brochures.
On the other hand, if we go with direct mail, the conventional practice is to send the exact message to many. It is estimated that about 72% of corporations are in favor of direct mail campaigns. They are utilizing it to the fullest. It is due to the reason that these are inexpensive and are one of the best ways to build a brand image. This trend is going to rise further in the future.
Moreover, there is an increase in the demand for promotional materials from retail, food, beverages, and other such industries. If we talk about the commercial printing market, it is being driven by promotional activities like print advertising. This is directly linked to the retail businesses that understand their target market and are taking the help of print advertising to boost their marketing efforts. They are currently utilizing the printing technology to their advantage and are going to do the same in the future.
Even Food and Wine magazines are experiencing growth across their brands with the latest Industrial Inkjet Printers or Industrial Automatic Inline Inkjet Printer. This can be understood from the fact how “Food & Wine” was able to attract new advertisers through its April 2020 California Wine print issue. They were able to attract Ford, LG signature series, Silversea cruises, Sub Zero, Raymond James, and others.
It further reports that the print ad revenue increased by 18% year over year between January and April of 2020 and 2019.
Eco-Friendly Practices and Customization
Moreover, with the introduction of eco-friendly practices, the impact on the environment is reduced to a minimum. These practices include vegetable inks that are made from vegetable oils. These vegetable inks are better especially when it comes to performance. They drastically reduce the amount of VOCs. These inks release about 2-4% VOC emission. It is very less as compared to the solvent-based inks and is more effective.
Moreover, most of the commercial printing houses are implementing recycled paper. Verso Corporation comes one step forward and introduces velocity (coated value web paper). It is ideal for commercial web offset printing applications.
Even big technology giants like Amazon have come up with packaging innovation. It has shown the world how well-designed, printed, and labeled packaging is enough to make the difference that is required. Even some experts from the field of printing are in favor of customization.
If we further go with Amazon, one can make on-demand things more accessible to customers. This customization is going to open a massive opportunity. The sales are going to climb a lot. On the other hand, the printing industry is going to see a new technical phase.
Revolution in the world of the Inkjet Printers
If we talk about the current situation, label printing is emerging as one of the fastest-growing segments. It is basically due to an increase in demand for customized packaging and the need for providing product information.
You might be wondering what label printing is all about?
Label printing is basically a narrow web application. The required web width ranges from 5 to 15 inches. Thus it requires few printheads that are required to be stitched together to generate the array of nozzles spanning the width for each color.
On the other hand Inkjet accounts for the highest shares of the print industry’s R&D spending. There is expected to be a substantial improvement in both the quality and quantity of the equipment. The modern printing presses carry the ability to print at faster speeds. Moreover, they are automated in nature and reduce human effort.
Market Competition
If we talk about the commercial printing market, it is fragmented due to the presence of both global and regional players. The market appears to be extremely competitive due to the overcapacity of firms and pricing pressure. Moreover, mergers and acquisitions, partnerships, innovations in printers and so are bringing intense rivalry in the market.
Organizations are increasingly adopting commercial printers. They are one of the perfect solutions for bulk printing. Moreover, they are cost-effective in nature and can be used by even small-scale industries. Most of all when it comes to bulk printing there is no match to the Industrial Thermal Inkjet printer, Handheld Expiry Date Printing Machine, Industrial Automatic Inline Inkjet Printer, etc.
Conclusion:
Although COVID-19 has affected the printing industry a lot, with time the demands have also changed. If we go with the report, print production in China fell by up to 80% as compared to normal. Even there are some who witnessed an increase in demand. But slowly over time, the recovery is rapid. Things start improving for both commercial and packaging/label segments. So it will be not wrong to say that the year 2021 is going to witness a revolution in Commercial Printing Equipment throughout the world.