Rising use of Inkjet Printers to drive Commercial Printing Market Growth

 

Commercial Printing Market
Commercial Printing Market 

Commercial Printing Market is Segmented by Type (Offset Lithography, Inkjet, Flexographic, Screen, and Gravure), Application (Packaging, Advertising, and Publishing (Books, Magazines, and Newspapers)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Commercial Printing Market is estimated to be valued at US$ 489.63 billion in 2022 and is expected to exhibit a CAGR of 2.8 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Commercial printing is a word that refers to printing for organizations. Alternatively, if one needs printed goods for their business, one need commercial printing services. Several printing organizations can offer a wide range of goods for the individual, such as an on-demand printing and custom online print portals. The kind of commercial printing goods the company might need is based on the industry one works in.

Competitive Landscape:

Key players involved in the growth of global Commercial Printing Market are Transcontinental Inc., LSC Communications US, LLC, R.R. Donnelley, ACME Printing and TOPPAN INC.

Market Key Drivers:

The rising use of inkjet printers to improve their printing, marketing and advertising are expected to drive the growth of global Commercial Printing Market. For instance, in 2021, DS Smith Iberia connected the EFI Nozomi C18000 Plus multi-color single pass-LED inkjet printer in its competence in Lisbon, Portugal.

The rising packaging and print manufacturing digitization is projected to propel the growth of global Commercial Printing Market. For instance, In October 2021, Xeikon introduced two new label presses, the Xeikon PX3300 and Xeikon PX2200, to increase its Panther UV inkjet technique portfolio and aids in developing the digitization of print manufacturing. 

Covid-19 Impact Analysis:

 The Covid-19 outbreak has adversely affected the growth of Commercial Printing Market due to rising pandemic. The imposition of strict lockdown and shutdown has led to the disruption in supply chain, halt in the production of things, remote working and transportation of goods from one place to another has impeded the market growth.

Key Takeaways:

The global Commercial Printing Market is expected to exhibit a CAGR of 2.8 % during the forecast period owing to the rising key players for the expansion of products. For instance, in July 2022, Toppan was identified for consideration in various top indexes for its excellent Environmental, Social, and Governance performance. 

Among regions, North America, Asia Pacific and Europe anticipated to witness robust growth in the global Commercial Printing Market due to rising use of inkjet printers, increasing approval and launches, rising mergers and acquisitions and rising investments. For instance, as per ASSOCHAM-EY joint study, India's print and packaging industry is projected to be valued at US$ 72.6 billion by 2020.

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