Originally published at www.inkworldmagazine.com
Fast-Growing Inkjet Market to Surpass $100 Billion
The global market for inkjet printing will grow at a rate of 9.4% year-on-year and will be worth $109 billion in 2023, so said Smithers Pira in the market report The Future of Inkjet Printing to 2023. This is in contrast with the general outlook for the print industry where growth is occurring at a more moderate 0.8% annually.
In 2018, the total value of inkjet printing in graphics and packaging applications will reach $69.6 billion, with a total print volume equivalent to 749 billion A4 prints. This volume will consume some 103,700 tons of ink, with the end-users spending $8.7 billion, while the market for new inkjet equipment will be $3.6 billion.
“The economics and reliability of inkjet are consistently improving as a result of heavy investment in printing heads, machinery, inks and drying systems, associated software and – increasingly – substrates,” said Dr. Sean Smyth, print consultant at Smithers Pira and author of the report. “There is strong growth across most of these disparate activities because the non-impact process is very flexible and capable of printing at high-quality and speed, making it suitable to print many products, while the cost position is becoming more economic against most analog printing alternatives.
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