In the highly competitive and fragmented Europe specialty printing consumables market,
a notable transformation has been observed from focus on traditional
printing technologies such as lithographic and offset printing to
digital ones such as laser printing in the past few years, observes a
recent report by Transparency Market Research. This trend is expected to
gain strength with time and an increasing number of companies operating
in the specialty printing consumables market are expected to venture
into the field of digital printing in the near future. Many companies,
such as Electronics for Imaging, Inc., which acquired Reggiani Machine
in 2015, a leader in digital textile printing machines, are already
making their move into the world of digital printing.
TMR estimates that the Europe specialty
printing consumables market will exhibit a 3.7% CAGR over the period
between 2016 and 2024. As a result, the market, which had a valuation of
US$20.22 bn in 2015, is expected to reach US$28.21 bn by 2024. In terms
of product variety, the segment of toners, which occupied nearly 51% of
the market in terms of revenue, dominated in 2015. The segment is also
expected to retain its dominance over the forecast period. In terms of
geography, the market in Germany emerged as the most prominent consumer
of specialty printing consumables in 2015. The market in Germany
accounted for over 31% of the Europe market in the said year.
Rising Adoption of Advanced Technologies to Bolster Market’s Growth Prospects
The Europe market for specialty printing
consumables is chiefly driven by the rising use across the textile
industry for textile printing applications, availability of effective
technologies for printing processes, and rising applications in the
packaging industry. Rising applications in the form of packaging
printing and label printing are expected to make the packaging industry
one of the key growth drivers of the Europe specialty printing
consumables market in the near future. The growing volume of exports and
online orders for products through e-commerce websites will add to the
rising demand for printing consumables in the packaging and labelling
sector in Europe.
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Availability of cost effective and less
time consuming printing techniques such as 3D printing are becoming a
growing trend in the Europe specialty printing industry. The rising
adoption of such technologies is opening new and diverse growth avenues
for manufacturers of specialty printing consumables in the Europe
specialty printing consumables market. In addition to this, the
increasing adoption of technologies such as mobile and cloud printing
are also expected to lead to growth opportunities for new players in the
market in the next few years.
Low-cost Printing Services from Asia Pacific to Restrain Market
Specialty printing consumables companies
in Europe are expected to bear the brunt of the cheaper printing
services provided by countries in the Asia Pacific region. Vast
investments in the printing industry in Japan and China, especially in
the 3D printing sector, have helped the Asia printing industry become
one of the most promising regional markets in the global printing
industry of late.
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