Printing Toners Market Size & Share 2023 to 2032
Market Size by Production Technology (Conventional Toner, Chemically Prepared Toner), by Resin (Polyester, Styrene Acrylic) and Application (Monochrome, Color), & Global Forecast.
Report ID: GMI2123
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Published Date: November 2022
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Report Format: PDF
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Authors:
Kiran Pulidindi, Hiralkumar Patel
Printing Toners Market Size
Printing Toners Market size was valued at USD 3.5 billion in 2022 and is set to grow significantly at a CAGR of over 4.5% through the forecast period (2023-2032) owing to the booming pharmaceutical and electronic sectors in North America and Europe.
Printing toners are widely used in the pharmaceutical industry for the printing of pharmaceutical products, such as syrup, suspension, emulsion, and eye drops. To reduce dispensing and dosing mistakes in pharmaceuticals handled in medical settings, medications with strong visual distinction are necessary. The rising expenditure on pharmaceuticals in the U.S. is slated to drive the printing toners market expansion. For example, according to the U.S. Census 2021, pharmaceutical and medicine production shipments accounted over USD 250 million.
Strict government regulations for VOC emissions may restrain industry growth
Various international regulatory bodies, such as the FDA, OSHA, EU, and others, have enacted regulations and guidelines for printing toners used for product packaging in the food and pharmaceutical industries in order to maintain quality or mitigate harmful/toxic effects of volatile organic compounds emitted into food & pharmaceutical products, on humans, and the overall environment. This trend is likely to persist and may act as a major hindrance to the global printing toners market expansion. However, the introduction of alternative materials with technological advancements may help to overcome this barrier.
Printing Toners Market Analysis
Printing toners market is segregated as per production technology into conventional toner and chemically prepared toner. The conventional toner segment is projected to generate around USD 3.5 billion by 2032. The low cost of conventional toners compared to chemically manufactured toners is the major factor attributed to the high revenue share of the segment. Most printers include heating equipment and fusers that are designed to work with standard toners. As a result, the demand for conventional toners is expected to increase steadily through the forecast timeline.
Printing toners market is divided into polyester, styrene-acrylic, and others based on resins. The styrene-acrylic segment is set to expand at over 4% CAGR from 2023 to 2032. Styrenics are economical and offer better wax dispersion, and hence, are highly preferred for monochrome printing. Toner resins must be thermoplastic and have strong adhesion properties. The styrene component makes it thermoplastic, while the acrylics let it adhere to a variety of surfaces. Such favorable product characteristics are expected to boost the segment's revenue growth through 2032.
In terms of application, the printing toners market is divided into color and monochrome. The color segment valuation is estimated to reach USD 3 billion by 2032. Color printing is gaining traction across industries to meet changing customer and company branding needs. New government regulations requiring the use of color and the technological advancements resulting in the declining cost of colored printing toner are pushing firms to reconsider how they identify and label products, further contributing to the segment expansion.
Asia Pacific printing toners market is estimated to be worth USD 2 billion by 2032, growing at more than 5% CAGR through the review timeline. Rapid industrialization, primarily in India, Japan, and China, is driving the demand for commercial laser printing, as well as the growing packaging industry in the region due to strong growth in the food & beverage, pharmaceutical, and personal care industries, are the major factors expected to largely contribute to the APAC market statistics in the coming years.
Printing Toners Market Share
The competitive landscape of the global printing toners market includes major enterprises, such as:
Companies are implementing new technologies for creative product launches in order to expand their worldwide reach. For instance, In Feb 2021, multinational electronics company Epson extended its product portfolio with the launch of SureColor-R5030 and SureColor-R5030L latex printers.
COVID-19 Impact
After the onset of the COVID-19 pandemic, social distancing guidelines and overall industrial lockdowns had a detrimental influence on the market. Additionally, manufacturers halted their operations to product essential commodities such as hand sanitizers, which disrupted the supply chains of the product. However, the pandemic also caused an upsurge in demand for packaging across varied industries, which resulted in a high product uptake. Moreover, the prevalent need for packaging that could withstand disinfection without damaging the labels has also created massive growth potential for the product, which has been lucrative for business growth.
The printing toners market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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