According to a new market report published by Industry Probe (http://www.industryprobe.com) titled ‘Industrial Printer Market (Printer Type: Offset Lithography, Flexography, Digital Printer, 3D Printer, and Others; Substrate: Metal, Plastic, Paper, Ceramic, Fabric, and Others; and End Use: Aerospace/Automotive, Textile, Packaging Printing, Construction Material Printing, Signage & Labels, and Others) – Global Industry Trends and Forecast, 2020–2027’ the global industrial printer market is expected to expand at a CAGR of ~6% from 2019 to 2027 and reach a value of US$ 17,781.3 Mn by 2027.
Rising Adoption of Flexible Packaging to Drive the Market
The major factors expected to drive the industrial printer market during the forecast period, according to the report, include growing usage of high-barrier plastic packaging materials, increase in processed & packaged food demand, and rise in adoption of flexible packaging and pouches across industries. Globally, the increasing consumer disposable income is predicted to drive the consumption of printed clothing, therefore complementing fabric segment growth. Additionally, in order to resist washing and friction, printed fabrics provide better bonding of color with fibers owing to this factor, the demand for industrial printers in the textile printing application is growing.
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Soaring Growth of E-commerce Industry to Impact the Market Significantly
The report from Industry Probe mentions the additional drivers of the industrial printer market and these include middle-class population, increase in urbanization, rising disposable income and growing economies that are boosting the e-commerce industry across the globe. The demand for packaging applications is on the rise owing to the rapid growth of e-commerce companies such as Amazon, EBay, Flipkart, etc., thereby projecting a significant growth of the industrial printer market. Globally, the 3D printing sector is expanding at an exponential rate. Emerging economies, such as India, China, etc., are investing substantially on the 3D printing technology, which is expected to create growth opportunities for the manufacturers of industrial 3D printers during the forecast period.
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The Industry Probe’s report states that the global packaging and printing industry is transforming, owing to the incorporation of digital printing. Additionally, changes in the way brands communicate with the consumers, strong growth of the e-commerce sector, and changes in the retail supply chain have increased the application of digital printing. Device processors and manufacturers in the region are prospecting how to realize new value through the personalization and customization of packaging, as packaging is becoming an important channel for brands to interact with consumers. Furthermore, increasing demand for food, beverages, and medicines are likely to drive the industrial printer market positively worldwide.
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