The global commercial printing market size was valued at USD 471.80 billion in 2022. It is projected to reach USD 568.84 billion by 2031, growing at a CAGR of 2.10% during the forecast period (2023-2031).
Commercial printing encompasses many processes, from mass printing through binding, composition, layout design, and press outputs. Phone books, periodicals, labels, catalogs, brochures, business forms, promotional materials, and training manuals are just some of the printed goods that can be made with the help of a commercial printer. A paper input tray, an ink replacement tray, a digital or analog control panel, a memory card reader, and an output tray are all included. It has widespread use in the publishing industry, the printing industry, and in major corporations that rely on efficient business processes.
Global demand is expected to rise as a result of technological advancements as well as expanding applications across numerous end-use industries. Business forms, financial documents, and instruction manuals are among the products printed by commercial printers. Commercial customers' advertising and product requirements drive the demand for high-quality printing projects.
Print advertising is one of the leading promotional strategies used to fuel the commercial printing industry. Print advertising is a component of a comprehensive marketing strategy used by retail companies aware of their target markets. Additionally, a current issue with online or digital marketing failing to attract people's attention was highlighted by a recent Adobe survey of 1,250 U.S. consumers, with print-based advertisements gaining greater customer attention. An ad that appears in a magazine can advertise a good or service for months or even years as long as the magazine is still in circulation. Due to the potential for durability from a single investment to numerous food and retail enterprises, the print-based advertising approach is seeing an increase in demand.
Machinery design, digitalization, computerization, and other technological advancements have greatly improved productivity and changed this business so that growth potential is no longer directly correlated with employment. However, some market companies' ability to operate is constrained by the rising raw material costs during the procurement process. Paper, inks, printing supplies, and other chemical products are some raw materials used in commercial printing. The feedstock prices are dynamic and change depending on several socioeconomic factors, which makes it difficult for businesses operating in the investigated market to conduct business. For the purchasing departments of ink makers, the historical market time was turbulent. Due to factory closures, fires, and regulatory action, essential raw materials, including titanium dioxide and important photoinitiators, pigments, and intermediates, have become scarce.
Significant adjustments are being made to the activities and procedures in the commercial printing business, such as the gradual substitution of sustainable solutions. With the important environmental implications being prioritized, several new measures are being developed for the printing sectors. Additionally, the emissions of volatile organic compounds (VOCs) and other gases caused by the chemicals used in the printing process have several adverse effects. Green printing strategies have facilitated the development of new, effective, and efficient solutions to reduce these issues during printing. Due to the nature of the printing process, solvent-based inks are typically utilized in gravure and flexography printing methods. These volatile solvents release vapors when printing. The solvent and ink used in the heat-set lithographic printing process contribute to the emission of VOCs into the environment.
The global commercial printing market is segmented by type and application.
Based on type, the global commercial printing market is bifurcated into offset lithography, inkjet, flexographic, screen, and gravure.
The offset lithography segment is the major contributor to the market and is estimated to grow at a CAGR of 1.80% during the forecast period. One of the popular printing techniques for producing printed items is offset lithography. Commercial printing most frequently takes the form of offset lithography. The fact that water and oil do not mix could be a factor. It is one of the primary packaging methods and may be applied to various materials, including metals, polymers, and boards. Newspapers, brochures, periodicals, stationery, and books are a few of its common uses. Unlike other printing techniques, offset lithography printing is best for generating vast quantities of high-quality prints at a reasonable cost with minimum upkeep. The quality of current offset presses is further improved by using computer-to-plate technologies rather than the more traditional computer-to-film operations. The online web-to-print industry has seen an increase in orders for offset lithography.
A form of printing technology, inkjet printing, reproduces a digital image by hurling ink droplets onto paper and plastic substrates. The most popular form of a printer is an inkjet printer, which comes in various sizes and price points for consumers and professionals. Inkjet printing is a non-contact process and one of the two digital printing technologies. One of the significant components of R&D spending in the packaging print sector is inkjet. The quality and dependability of the equipment are anticipated to increase significantly due to these investments. To increase the productivity of lower-speed presses, new inkjet presses are being produced that can print more quickly and offer substantial advancements in the automation of material management. With significant expenditures in hardware, printing heads, inks, drying systems, software, and substrates, inkjet is constantly improving in terms of both reliability and economics.
Flexographic printing is a unique plastic printing method that illustrates convex direct printing. It is currently one of the sectors of the printing industry that is expanding the fastest. This method will likely be widely used to print on absorbent and nonabsorbent grounds. Flexographic printing, used to print labels, cartons, and flexible polymers, has attracted much interest from the packaging sector. Additionally, the market for flexographic printing is predicted to benefit from the expansion of sectors, including the food, beverage, and other packaging industries. Regarding the overall production process at packaging plants, especially those that create flexible packaging, flexographic presses may be a minor component. Even though this industry is smaller than the flexographic packaging industry in size, they are also employed to print many publications.
Based on application, the global commercial printing market is bifurcated into packaging, advertising, publishing, and others.
The packaging segment is the highest contributor to the market and is estimated to grow at a CAGR of 2.20% during the forecast period. The three packaging applications that demand printing and cutting are folding cartons, flexible packaging, and label printing, with folding cartons adding a few extra steps to file preparation (structural CAD files) and finishing (die-cutting, folding, gluing). Commercial printers have been noticed incorporating digital technology to improve the quality of packaging print due to the rise of digital information delivery. Quick response (Q.R.) codes are now a commonplace print on product packaging that a smartphone may read to display additional data, including, among other things, product details and promotional information.
Commercial printing through advertising generates considerable income, mainly because of the efficient marketing strategies that corporations employ in various industries. Companies in various industries have used different marketing techniques to increase market share and market traction. Many brand owners have been drawn to digital printing because of its advantages, including greater flexibility (ability to produce one-offs at a fraction of the cost digitally), high-quality images (continuous flow of color enables the production of clearer and brighter visuals), better durability (ink used in the process doesn't fade, and the print stays intact even after repeated uses and washes), cost-effectiveness and superior durability.
Since the beginning of the last decade, the publishing industry's market for commercial printing has experienced slow development. Print media ranks second in the media business for revenue generation, yet problems still exist. According to BLOnCampus, the economic recession in India has led to sluggish demand and subdued consumer spending, which has caused the stocks of major print media businesses like DB Corp and Jagran Prakashan to decline by over 40% in the past year. Additionally, the financial health of print media companies has been significantly impacted by the growth of digital and social media platforms that draw in readership and advertisements, which has an effect on the market for commercial printing in the publishing industry.
Printing valuable items and clothing is commercial uses, in addition to architectural blueprints and construction plans. With the increased building activity, the market for commercial printing in other applications is projected to increase. The American Institute of Architects just released a new projection that projects advanced building spending through 2019. According to short-term forecasts, the nonresidential building sector in the U.S. was expected to increase by 2.4% in 2020 compared to 2019. The number of residential spaces has expanded as a result of growing urbanization and population expansion in many major cities throughout the world, including New York (U.S.), Beijing (China), Mumbai (India), and London (U.K.), among others.
The global commercial printing industry is classified into four regions: North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 2.30% during the forecast period. Due to the rising need for commercial printing in developing nations like India, Japan, China, Indonesia, Bangladesh, and Thailand, the Asia-Pacific region is predicted to have significant revenue development. The region's printing market is expanding as a result of factors like the development of new technologies, shifting lifestyles, the expansion of e-commerce, and urbanization. The Chinese economy has grown astronomically over the past three decades, propelling it to second place in the world's economic rankings. The largest and fastest-growing population is in China, where the economy is also expanding at a constant clip. The Chinese commercial printing sector and the potential for adopting digital printing technology have grown in importance due to being home to significant manufacturers and drawing numerous Fortune 500 businesses.
North America is expected to grow at a CAGR of 1.60% during the forecast period. Due to the rapid adoption of modern printing technologies in nations like the United States and Canada, the commercial printing market is likely to be dominated by North America. The rising spending on advertising is anticipated to be positively influenced by the market's growth. The U.S. was the world's second-largest advertising market in 2019. The industry is expanding due to the increased usage of premium printed packaging for branding and advertisements.
Europe has some of the most important commercial printers worldwide, which is also a significant driver and user of contemporary technology. Due to the massive expansion of the end-user base in the region and the strong government support for environmentally friendly printing processes, the demand for the market under study is anticipated to increase significantly in Central and Eastern Europe throughout the forecast period. The advertising sector would add to the market's expansion. GroupM predicts increased media advertising spending in Western, Central, and Eastern Europe from 2018 to 2023. In Western Europe, in 2019, advertising spending was close to USD 106 billion. Commercial printers in Europe, and now, with the recent implementation of the E.U.'s Green Deal, also at the European level, face significant sustainability challenges.
Latin America has had higher yearly growth rates in advertising spending than any other region over the past five years. The market's expanding partnerships are fueling the region's expansion. Empresa Paulista de Embalagens (Epema), a Brazilian company that specializes in flexible packaging, and Comexi, a global provider of solutions for the printing and flexible packaging industry transformation, strengthened their partnership in May 2020 after the acquisition of a Comexi F3 flexographic press, which was installed at the Brazilian company's factory in Araquara. The two businesses have entered into a second commercial arrangement through this relationship. The Comexi F3 flexographic printing press was created to meet the printing requirements of the flexible packaging and package industry.
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