Printing Toners Market size valuation is expected to be valued at around USD 5.5 billion by 2032, suggests a recently published report by Global Market Insights Inc.
The market is set to expand owing to the increasing product demand for packaging from the rapidly expanding food & beverage industry in the Asia Pacific, which is boosting the progress of the printing toners industry. Furthermore, industry development is also being propelled by stringent regulations imposed by governments to verify that the items have all the legally required information on their labels before they enter the retail market or are sold for consumption.
Superior printing capabilities to favor chemically prepared toners segment
Printing toners market is segmented in terms of production technology into chemically prepared toner and conventional toner. The report states that the chemically prepared toner segment is estimated to be valued at USD 2 billion by the end of 2032. This massive expansion is primarily due to the high printing capabilities of chemically prepared toners, as well as their time- and cost-saving benefits.
Favorable product characteristics to complement polyester segment demand
As per resins, printing toners market share from polyester segment is projected to grow at more than 4.5% CAGR over the forecast period. Polyesters have high toughness and low molecular weight, which facilitates their use in color printing, wherein these characteristics are considered vital. The higher adhesion and faster fusing capabilities of these resins are also likely to significantly contribute to segment expansion.
Increasing acceptance of monochrome printing to boost industry revenue
By application, printing toners market size from monochrome segment is anticipated to generate around USD 2.5 billion in revenue by 2032. Monochrome printing is economical and provides better text quality. Carbon black is typically used to impart black color in toner cartridges and is costly as it is derived from petroleum, which may hamper the demand for monochrome printing. However, the increasing utilization of monochrome printers for office usage due to their efficiency and capacity to maximize productivity is likely to boost segment revenues.
Rising need for large-scale printing applications to foster North America market share
North America printing toners market is forecast to expand at a 4.5% CAGR over the forecast period, the report claims. This significant industry share is attributed to the booming demand for large-scale printing applications, such as banners, catalogs, user manuals, brochures, and so on, from various end-user sectors in the region. Furthermore, technological advances in the print industry, which have resulted in the advent of variable and even more printing options and advancements in response to growing and changing consumer demands, are expected to propel regional industry expansion through 2032.
New product launches to define the industry outlook
Brother International Corporation, Xerox Corporation, Lexmark, IMEX Co. Ltd., Toshiba, ACM Technologies, Epson, Canon, Citizen-Systems, HP Inc., Konica Minolta, IBM, Panasonic, and Lotte Fine Chemicals are some major enterprises operating in the industry. The global printing toners market is expected to witness several new innovations and product line expansion efforts from industry players.
Explore More on Related Topics: