Inkjet Printing Market Size, Share & Trends Analysis Report By Printer Type (Single functional Printers, Multi-functional Printers, Large Format Printers, Industrial Inkjet Printers, Textile Inkjet Printers, Inkjet Press), By Technology Type (Continuous Inkjet, Drop on Demand), By Substrate (Plastic, Metal, Paper, Fabric, Ceramic, Others), By Applications (Books/Publishing, Commercial Print, Advertising, Transaction, Labels, Packaging, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Inkjet Printing Market Size and Trends

The global inkjet printing market size was valued at USD 101.23 billion in 2023 and reached USD 109.73 billion in 2024. It is expected to reach USD 209.43 billion by 2032, growing at a CAGR of 8.4% over the forecast period (2024-32). Continuous advancements in inkjet printing technology, including printhead design, ink formulations, and printing software, improve print quality, speed, and versatility, driving market growth.

Moreover, the shift from traditional printing methods to digital printing, including inkjet printing, due to its flexibility, cost-effectiveness for short runs, and customization capabilities, fuels market expansion.

Inkjet printing involves spraying tiny droplets of liquid ink onto selected surfaces, such as paper, which facilitated the development of digital printing. Images that are equivalent to photos are produced using this technique. Inkjet printing is more affordable than other print methods because it provides complete versatility and low setup costs, enabling the printing of single copies in small quantities. Two prominent technologies are utilized by modern inkjet printers: continuous inkjet (CIJ) and drop-on-demand (DOD). In CIJ technology, a high-pressure pump and a microscopic nozzle are used to force liquid ink from an ink reservoir and produce a steady stream of ink droplets. Products and packages can be coded and designated using the CIJ methodology.

Inkjet Printing Market Growth Factors

Big data, iot, and digitalization of print processes and packaging

The printing business has experienced a significant shift because of digitization, which now encompasses product personalization, innovation, and communication that closely match the expanding possibilities of digital printing. Customers expect interactive features and comprehensive information packed into the items they purchase. The gadgets have technological elements like virtual reality, QR codes with links to social media, etc. IoT integration in inject printing further minimizes manual labor while boosting automation. By continuously observing and documenting the actual operating circumstances of the equipment and the system performance, it is possible to analyze the likely downtime. IoT is being integrated by numerous businesses in the sector with their individual inject printing machines. 

• For instance, Maplejet saw an opportunity to incorporate IoT in the Hx Nitro, one of its industrial inkjet printers from the Hx line. Currently, the printer monitors and creates messages using an IP-based application. Any Wi-Fi-enabled device, whether a smartphone, tablet, or computer, can control it.

Inkjet Printing Market Restraining Factors

Growing popularity of digital advertising media

The media player, essential to digital advertising, is undergoing a rapid technological, network connectivity, and usability revolution. 

• For instance, a novel approach to link media players to the cloud when standard network connectivity methods are difficult to obtain was introduced by BrightSign, LLC, a US provider of digital advertising media players, in May 2021. This remedy comes with a USB regional modem with a SIM card already in place for connectivity. These breakthroughs and inventions are further stifling the market's growth.

The MediaPlayer software from Sharp NEC Display also provides remote control of digital advertising settings for single and multiple panels. From internal memory and external USB media, users can run media files. Users can choose their preferred digital advertisement, video, and photo CMS partner from the NEC MediaPlayer interface. Users can also access features like browser playback, timeline creation, video streaming over RTP, UDP, and HTTP, content scheduling, and power-saving screen scheduling.

Inkjet Printing Market Opportunities

Shift toward sustainability

Businesses today are more conscious of the need to practice environmental sustainability, which is crucial when thinking about large-scale printing operations that call for technology like production printing. How environmentally friendly a corporation becomes will depend on its printing technology. A printing technique that aids a decrease in environmental contamination is digital inkjet printing technology. Inkjet printers consume much less electricity than other digital technologies like laser printers. Due to the need to heat the toner before printing and the necessity of sustaining highly high temperatures throughout the entire process, laser printing uses a significant amount of energy. New inkjet printer types are improving their sustainability and energy efficiency. 

• For instance, Epson's WorkForce Enterprise printers produce stain, fade, and water-resistant prints with a maximum resolution of 600 x 2,400 dpi. Additionally, compared to laser printers, Epson commercial inkjet models use up to 85% less energy and produce 85% less CO2. Further, using fewer consumables reduces waste produced by ink tank models.

Inkjet Printing Market Regional Analysis

North america: dominant region with 6.75% growth rate (cagr)

North America is the major revenue contributor and is expected to exhibit a CAGR of 6.75% during the forecast period. Due to rising demand from the packaging industry, the North American industrial inkjet printing market is predicted to expand significantly over the forecast period. On the other hand, the majority of the top inkjet printing firms, including Lexmark International Inc., Xerox Corporation, and HP Development Company, L.P., have their headquarters in the United States. The region is one of the most lucrative since its member countries, especially the US and Canada, heavily invest in technology advancements. The sector has become even more alluring by adopting industrial inkjet printers as a cost-effective package printing solution.

Asia-Pacific is expected to grow at a CAGR of 10.45% during the forecast period. The Asia-Pacific area has overtaken the rest of the globe as the largest market for printing ink, driven by China, India, and several other rapidly developing nations. On the other side, several of the most significant international ink manufacturers are based in the area. Japan is home to DIC, Sakata INX, Toyo Ink, and T&K Toka; the other leading players also have sizable operations there. Due to cheap labor availability, China will likely dominate the inkjet printer market in the Asia Pacific region shortly. Many producers of inkjet printers can set up their manufacturing facilities because the manufacturing cost is also relatively inexpensive.

The inkjet printer market in Western Europe is anticipated to grow due to rising demand for packaging solutions and the availability of additional tools and services. 

• For instance, digital printing innovator EFI intended to increase its market share in Spain's packaging industry. The company chose it due to significant investments made in Nozomi C 1800 single-pass, super high speed, led inkjet corrugated packaging press technology by Hinojosa and Grupo La Plana. Similarly, on December 20, 2019, the Italian Vignola cherry consortium partnered with Ghelfi Ondulai to create direct communication with Vignola customers. It has started producing corrugated packaging for printing a unique QR code on each box of cherries using an HP page-wide T1100S speed color inkjet web press.

In the Middle East and Africa, Saudi Arabia, the United Arab Emirates, and South Africa are essential nations because of their growing economy and adoption of technology. Saudi Arabia continues modernizing and advancing technologically by diversifying its economy per its Vision 2030 plan. The global adoption of e-books is increasing, which will undoubtedly hurt the international publishing industry, another significant consumer of printer ink. Throughout the forecast period, the usage of paper for printing is anticipated to continue to decline. Therefore, these factors are expected to impede product development in the Middle East during the projection period. Additionally, there is a young, tech-savvy population in the Middle East.

Inkjet Printing Market Segmentation Analysis

By Printer Type

Single-functional Printers are designed for specific tasks such as printing documents. Multi-functional Printers combine printing with additional capabilities like scanning and copying. Large-format printers are used for producing large-scale prints, ideal for banners and posters. Industrial Inkjet Printers cater to industrial applications, providing high-speed and high-quality printing. Textile Inkjet Printers are specialized for fabric printing and are often used in the fashion and home decor industries. Inkjet Presses are high-end systems designed for high-volume production and commercial printing.

By technology

Continuous Inkjet technology operates by continuously circulating ink and selectively deflecting ink droplets to print images, making it suitable for high-speed, high-volume applications. Drop on Demand technology, on the other hand, ejects ink droplets only when needed, enabling precise and high-quality printing with less waste, which is ideal for detailed and variable data applications. Both technologies cater to different printing needs based on speed, quality, and application requirements.

By substrate

Plastic substrates offer durability and flexibility, making them ideal for packaging and labels. Metal substrates are utilized for high-quality, long-lasting prints in industrial applications. Paper remains the most common substrate, favored for its versatility and cost-effectiveness in various printing tasks. Fabric substrates are essential for textiles and apparel, enabling vibrant and detailed designs. Ceramic substrates are used for specialty applications, including custom tiles and decorative items. Others include unconventional materials like glass and wood, expanding the scope of inkjet printing applications.

Recent Developments

• March 2024 - With its most recent array of intelligent solutions and digital printing presses, HP Inc. (NYSE: HPQ) helped usher in a new era of digital printing by addressing the production issues faced by labels and packaging, commercial printing, and other industries.
• February 2024 - With its effective, adaptable, and environmentally conscious printing technology, HP Inc. hopes to "disrupt" the packaging processes of the industry with its HP Thermal Inkjet (TIJ) 108mm Bulk Printing Solution. The HP TIJ 108mm Solution, the newest addition to its TIJ 4.0 Printhead technology, is engineered to meet a variety of wide-swath, high-volume printing applications without stitching. It boasts high speeds, great resolution, and throw distances of up to 10 mm.