Inkjet Printing Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2465
Inkjet Printing Market size is expected to exhibit a significant growth over the forecast period due to the increasing adoption of the technology for industrial printing and 3D printing applications. Inkjet printers precisely drop tiny droplets of ink onto the paper for creating high-resolution images or documents. The process can be effectively used on multiple surfaces including textiles, glass, and synthetic printing materials. Companies in the printing and packaging sector have been traditionally using the conventional analog methods for printing but digital inkjet printing is being increasingly adopted owing to its potential to revolutionize the printing industry. Due to the key advantages of high speed, non-contact printing, and cost-effectiveness, applications of inkjet printers are expected to witness a growing adoption over the forecast timeline. Also, as inkjet printers offer excellent consistency of print quality across numerous instances, the technology is considered to be highly reliable for large-scale industrial printing processes.
Some of the key industrial applications of inkjet printing include ceramics, textile printing, industrial glass decoration, 3D printing, and the production of display screens. The inkjet technology is increasingly viewed as more than just a marking or a printing technology. The potential benefits of using inkjet printing include the provision of high-quality output, reduction of manufacturing costs, reduction in inventory, mass customization, reduction of waste, printing onto very small, non-flat, or fragile substrates, and faster prototyping. The key technologies used for inkjet printing include continuous ink jet printing technology and drop-on-demand inkjet printing technology.
The trend of using UV inkjet printing has been consistently increasing in the business area of original and customized items to enable high-mix, low-volume on-demand production. UV printing is a digital printing technology in which, ultra-violet light is used to dry and cure the ink as it is printed. Thus, the process enables instant curing and drying of the ink. As the UV inkjet printers do not require a print-plate, the overall cost and time of delivery can be significantly reduced. Due to these economic advantages, the trend of UV inkjet printing is expected to majorly contribute to the changing dynamics of the printing industry over the forecast period.
The Asia Pacific inkjet printing market is expected to exhibit the highest growth between 2018 and 2024 due to the significant growth in industrialization giving rise to the rapid emergence of new players in the textile printing industry. China is the world’s largest textile exporter with nearly 40% of the world’s clothing and textile exports. With an extensive base of textile manufacturers in India and China, the demand for advanced inkjet printers in the Asia Pacific market is expected to consistently increase during the forecast period.
Companies operating in the inkjet printing market are focusing on developing innovative inks to facilitate the advanced commercial inkjet printing. For instance, in August 2017, Xerox, one of the leading global providers of printing technology, introduced the Xerox Trivor 2400 High Fusion Inkjet Press. The innovative ink produces high-quality results by enabling inkjet printing on an offset coated stock, eliminating the need for intermediate coating, primers, or hardware. The key players are also emphasizing on increasing their production capacity by strategically opening new plants. For instance, in August 2017, Epson Precision (Philippines), Inc., a manufacturing arm of the Seiko Epson Corporation opened a new plant in the Philippines. The new plant was intended for increasing Epson’s inkjet printer and projector production. Some of the key players in the inkjet printing market are Epson, Xerox, Canon, Hewlett-Packard (HP), Fujifilm, Konica Minolta, Orbotech, Biodot, Jettable, E.I. Dupont, Eoplex, Organovo, Ricoh Printing Systems, and Stratasys.
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