The global printing industry is expected to be worth $834.3 billion in 2026
Business, graphics, publications, packaging and label printing all face the fundamental challenge of adapting to the market space after Covid-19. As Smithers’ new report, The Future of Global Printing to 2026, documents, after a highly disruptive 2020, the market has recovered in 2021, although the extent of the recovery has not been uniform across all market segments. Mailer box
The total global printing value in 2021 will reach $760.6 billion, equivalent to 41.9 trillion A4 prints produced worldwide. This is an increase from $750 billion in 2020, but sales fell further, with 5.87 trillion fewer A4 prints than in 2019. This effect is most evident in publications, some graphics and commercial applications. Home orders led to a sharp decline in magazine and newspaper sales, only partly offset by a short-term increase in orders for education and leisure books, with many routine commercial printing and graphics jobs cancelled. Packaging and label printing is more resilient and provides a clear strategic focus for the industry to grow over the next five years. Investment in new printing and post-press finishing will reach $15.9 billion this year as the end-use market returns steadily. Jewelry box
Mr Smithers expects packaging and labelling and new demand from Asia’s growth economies to drive modest growth – a compound annual rate of 1.9 per cent at constant prices – through 2026. The total value is expected to reach $834.3 billion by 2026. Volume growth will slow at a compound annual rate of 0.7%, rising to 43.4 trillion A4 paper equivalent by 2026, but most of the sales lost in 2019-20 will not be recovered. Candle box
Responding to rapid changes in consumer demand while modernizing the printing shop and business processes will be key to the future success of companies at all stages of the printing supply chain.candle jar
Smithers’ expert analysis identifies key trends for 2021-2026:
· In the post-pandemic era, more and more local print supply chains will become more and more popular. Print buyers will be less dependent on a single supplier and just-in-time delivery models, and instead there will be an increased demand for flexible print services that can quickly respond to changing market conditions;
· Disrupted supply chains generally benefit digital inkjet and electro-photographic printing, accelerating their adoption in multiple end-use applications. Digital printing’s market share (by value) will increase from 17.2% in 2021 to 21.6% in 2026, making it the primary focus of R&D across the industry; wig box
· Demand for printed e-commerce packaging will continue and brands are keen to provide improved experiences and engagement. Higher quality digital printing will be used to take advantage of improved information delivery on packaging, promote other products and add a potential revenue stream for printing service providers. This is consistent with an industry trend towards smaller print volumes that are closer to consumers; paper bag
· As the world becomes more electronically connected, printing equipment will adopt more Industry 4.0 and web printing concepts. This will improve uptime and order turnover, allow for better benchmarking, and enable machines to publish available capacity online in real time to attract more work.watch box
Post time: Dec-27-2022
