Market Trends of Inkjet Printing Industry
Packaging Segment is Expected to Witness Major Growth
- Inkjet printing is playing a major role in the packaging industry because of its flexibility and ability to customize on demand. This printing technique is particularly effective in variable data printing, making it possible to create personalized packaging, targeted marketing campaigns, and seasonal designs with minimal setup time. Furthermore, inkjet printing enables efficient short-run production, which helps to reduce inventory costs and allows businesses to print packaging as required. Given its suitability for meeting dynamic market demands and introducing new products, the adoption of inkjet printing in packaging is on the rise.
- Despite the widespread use of plastic in packaging, printing on this material poses certain difficulties. This is especially important for businesses that need to print traceable codes and essential product information (like expiration dates) to meet regulatory and distributor requirements. Selecting the right printer and ink is essential for successful plastic marking, as with any material. In the realm of industrial plastic coding, inkjet printing has become more popular due to its speed, reliability, and compatibility with various types of ink.
- The food packaging industry is progressively adopting continuous inkjet (CIJ) printers. These printers are preferred due to their high-speed performance, which is well-suited for the extensive operations typical in food packaging. In light of the rigorous safety regulations, it is essential for these printers to demonstrate resilience against environmental conditions, including fluctuations in temperature and humidity. As durability plays a vital role in ensuring operational efficiency, adherence to regulations, and the overall quality of packaged food, CIJ printers have emerged as the preferred option for food packaging applications.
- The packaging industry is gradually transitioning toward inkjet printing despite facing challenges related to cost and speed. Technological advancements, a focus on sustainability, and the advantages of inkjet are anticipated to propel its adoption in the future. The expanding capabilities of the packaging industry in countries like Brazil, India, the United States, and China are expected to have a substantial impact on the market. According to BIGS, Brazil's packaging industry had a gross production value of BRL 144.4 billion in 2023, marking a significant increase from the previous year and a notable growth compared to 2016.
- In October 2023, Nordmeccanica, a renowned global manufacturer specializing in coating, laminating, and metalizing technology, formed a strategic partnership with Fujifilm for inkjet printing. This joint effort is designed to bring production benefits to customers of Fujifilm's upcoming Jet Press FP790 digital inkjet flexible packaging solution. The agreement with Nordmeccanica added to the list of successful partnerships with Hybrid Software and Henkel Adhesive Technologies. These significant collaborations in advancing innovations in packaging applications are expected to drive market growth.
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Asia-Pacific is Expected to Register the Fastest Growth
- The surge in consumer spending in Asia-Pacific, spearheaded by China, India, and various Southeast Asian countries, is fueling an increase in the demand for printed goods. This rise in demand is particularly evident in the need for packaging and labels, textbooks, and other printed materials, underscoring the expanding significance of inkjet printing in the region. The printing industry is undergoing a transformation due to technological advancements, particularly in digital printing.
- The rise in demand can be attributed to the ample opportunities stemming from the low labor and manufacturing costs in Asia-Pacific, positioning it as a key location for establishing production plants for mass-producing inkjet printers. Furthermore, the increasing popularity of inkjet digital printers in China has resulted in a significant shift. The consumables required for these printers now represent a notable expense for manufacturers in the printing and processing sector. As the usage of these printers continues to grow, the replacement of original consumables becomes a major cost.
- In June 2024, KINGTAU, a leading Chinese producer of industrial inkjet printers, introduced its most recent products. The T320, recognized for its high-resolution printing and UV ink capabilities, delivers exceptional quality. Meanwhile, the SCB1600 single-pass, high-speed corrugated digital printer is revolutionizing efficiency in corrugated packaging. By employing a pass-through printing method and a KCMY four-color setup, the SCB1600 maximizes color blocks, guaranteeing vivid full-color prints. These noteworthy advancements by the vendor in the area are also anticipated to bolster market growth.
- Similarly, the market is also expected to witness significant growth in Japan. According to the Japan Printing Machinery Association (JPMA), the quantity of industrial digital printing machines (A3 format and larger) increased from 11,272 units in 2014 to 16,010 units in 2023. Although Japan is currently behind in 3D printer usage compared to other countries, there is a significant increase in businesses owning multiple units. Additionally, as these companies acknowledge the advantages, there is a growing desire to upgrade to more advanced models.
- Vendors in the region are significantly investing in introducing various products. In June 2024, Tokyo-based Zeon Corporation strategically invested in Inkbit Corporation, a company specializing in high-precision, multi-material 3D inkjet printing systems. Inkbit's leading product, Vision-Controlled Jetting (VCJ), is designed to seamlessly shift from prototyping to mass production, specifically for creating 3D parts using polymers with varying characteristics.
- Moreover, the printing industry in Australia has been transformed by technological advancements. A growing number of customers are choosing cost-effective and faster options by obtaining prints from abroad. The quality of these imported prints has seen enhancements. In order to remain competitive, Australian printers are refining their operations to achieve higher levels of efficiency. As consumer preferences across the region pivot from plastic to paper in packaging, a burgeoning market opportunity has emerged, with vendors eager to lead the charge. Such factors are expected to drive the market's potential in regions like Australia.
- The market is also expected to witness a notable demand in India due to the increasing adoption of digital printing technologies and growing investments in the packaging sector. India is poised for substantial growth in the e-commerce industry, driven by the increasing number of internet users and favorable market conditions. With the growing vendor investments in driving the packaging capabilities across industries like food and pharmaceuticals, the need for digital printing technology is expected to rise. This trend is creating a demand for advanced packaging solutions that can accommodate personalized products, thereby contributing to the market's growth.
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