A market intelligence company predicts the specialty printing consumables will soar to US$28.21 billion by 2024.
According to PRNewswire, Transparency Market Research predicts the specialty printing consumables market in Europe (EU5) will attain a CAGR of 3.7% during 2016 to 2024. With a US$20.22 billion valuation in 2015, by 2024 the market is projected to run up to US$28.21 billion.
The reports also assert that toner segments which dominated in 2015, capturing nearly 51% of the market revenue, will continue to maintain the dominance during the forecast period. In the same year, the German market has occupied more than 31% of the European market, turning out to be the primary consumer of specialty printing consumables of the year.
The research firm explained the market is mainly driven by the prospective increasing demand for the application of textile printing, as well as the packaging industry.
