The global inkjet printers market size is expected to be valued at USD 7.0 billion in 2023. Growing eCommerce industry, bolsters the overall scope for inkjet printers market, which is projected to grow at a CAGR of 5.2% between 2023 and 2033, totaling around USD 11.6 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Inkjet Printers Market Value 2023 | USD 7.0 billion |
| Inkjet Printers Market Projected Value (2033) | USD 11.6 billion |
| Inkjet Printers Market CAGR (2023 to 2033) | 5.2% |
The growing demand for UV-curable inks is a significant trend driving the inkjet printers market, particularly in applications such as signage, graphics, and packaging. UV-curable inks offer several advantages that contribute to their increasing popularity in the industry.
One of the key advantages of UV-curable inks is their fast-drying properties. Unlike traditional solvent-based or water-based inks that require time for evaporation or absorption, UV-curable inks dry almost instantly upon exposure to UV light, which enables faster production speeds and reduces the risk of smudging or smearing, allowing for high-speed printing without compromising print quality.
UV-curable inks also exhibit exceptional durability, making them suitable for applications that require long-lasting prints. Once cured, UV inks form a tough and resilient layer on the substrate, offering resistance to abrasion, fading, and water damage. The durability ensures that the prints maintain their quality and legibility even in challenging environments, making them ideal for outdoor signage, graphics, and packaging applications.
Another advantage of UV-curable inks is their ability to adhere to a wide range of substrates. They can effectively bond with various materials, including plastics, glass, metal, and even unconventional surfaces like wood and ceramics. The versatility allows for printing on diverse substrates, expanding the application possibilities of inkjet printers. UV-curable inks offer excellent adhesion and ensure vibrant and precise prints, whether it's printing on rigid surfaces, flexible materials, or textured substrates.
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The global demand for inkjet printers is projected to increase at a CAGR of 5.9% during the forecast period between 2018 and 2022, reaching a total of USD 11.6 billion in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the inkjet printers market was valued at USD 6.7 billion in 2022.
The global Inkjet Printers market, from 2018 to 2022, witnessed steady growth, owing to the increased adoption of inkjet printers in industrial printing applications. Industrial printing refers to the printing of variable data, such as product information, barcodes, QR codes, and serial numbers, on various substrates like packaging materials, labels, and products themselves. Inkjet printers have emerged as a preferred choice for industrial printing due to their versatility, efficiency, and reliability.
One of the key advantages of inkjet printers in industrial printing is their ability to print variable data. In industries such as pharmaceuticals, food and beverage, and logistics, where accurate and traceable information is crucial, inkjet printers excel at delivering high-quality prints with variable data elements. They can print unique codes, serial numbers, expiration dates, and other product-specific information on individual items or packaging materials, ensuring product authenticity, traceability, and compliance with industry regulations.
Inkjet printers offer compatibility with a wide range of substrates used in industrial printing. Inkjet printers can handle diverse materials, whether it's printing on paper, cardboard, plastics, metals, or even directly on products. The flexibility makes them suitable for various industrial applications, where different substrates are employed based on specific requirements. Inkjet printers are designed to deliver consistent and reliable prints on different surfaces, ensuring legibility and durability.
Technological Advancements are Likely to be Beneficial for Market Growth
Technological advancements in inkjet printing have played a significant role in driving the adoption of inkjet printers across various industries. The advancements have led to notable improvements in printing speed, print quality, and versatility, making inkjet printers more capable and efficient than ever before.
One key area of advancement is printhead technology. Inkjet printers now feature advanced printheads that can deliver precise and consistent droplet placement, resulting in sharper and more accurate prints. Printheads are designed to eject tiny droplets of ink onto the printing substrate with high precision, ensuring excellent image resolution and detail. The development has revolutionized the printing industry by enabling the production of high-quality prints suitable for a wide range of applications.
Inkjet printers now offer higher resolution capabilities, allowing for the reproduction of intricate designs, fine text, and vibrant colors with exceptional clarity. Higher resolution means a greater number of ink droplets can be placed per inch, resulting in smoother gradients, sharper edges, and more detailed images. The improvement is particularly beneficial for industries such as graphic arts, photography, and product packaging, where visual appeal and precision are crucial.
Growing Demand for Digital Printing to Fuel the Market Growth
The continually increasing demand for digital printing is a significant trend that is driving the inkjet printers market. Digital printing refers to the process of directly transferring digital files onto a substrate, eliminating the need for traditional printing plates or screens used in analog printing methods. The shift towards digital printing is fueled by several factors, including the need for faster turnaround times, customization options, and cost-effective solutions for small to medium print runs.
One of the key advantages of digital printing is its ability to reduce turnaround times significantly. Digital printing allows for quick file transfer and instant printing, unlike traditional printing methods that require the creation of printing plates or screens, which enables businesses to meet tight deadlines and respond promptly to changing market demands. Inkjet printers, with their advanced technology and high printing speeds, play a crucial role in delivering fast and efficient digital printing solutions.
Another driving factor for the adoption of inkjet printers in the digital printing market is the increased demand for customization. Businesses and consumers today seek personalized and unique printed products. Inkjet printers excel in offering customization options, allowing for the easy incorporation of variable data, such as personalized text, images, or designs, in each print. The capability is particularly valuable in applications like advertising, packaging, and direct mail, where targeted and personalized communication is essential.
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Large Format Printers to take the Lion’s Share
By printer type, the large format printers segment is expected to remain dominant during the assessment period. Growth is attributable to their high demand in vehicle wrap, home décor, and furnishing applications. The segment is anticipated to witness a market share of 52.8%.
Increasing utilization of these printers by various organizations to print outdoor advertisements is another factor set to support the segment’s growth. Easy availability of a wide variety of large format printers with varied price ranges is also projected to drive the growth of this segment. Some of the manufactures are also collaborating with social media influencers and celebrities to promote their products worldwide.
In October 2021, for instance, Epson joined hands with Usain Bolt, the eight-time Olympic gold medallist, to create awareness among people about its cartridge-free EcoTank printers. The company aims to develop an advertising campaign that would run on television in Germany and the United Kingdom to promote the benefits of cartridge-free no-hassle printing. Such innovative marketing campaigns by key players are set to propel sales in the forthcoming years. The segment is expected to hold a CAGR of 6.6% during the forecast period.
Continuous Inkjet to take the Lion’s Share
Based on technology type, the continuous inkjet segment is set to account for approximately 53.6% of the global inkjet printers market share in 2022, finds FMI. Increasing usage of this technology in coding and marking of products is likely to boost the growth in the market.
The printers are also capable of running for a long period of time with minimum servicing requirements. Apart from that, they can easily print characters virtually on any material, and provide high-speed printing capability. Their application is set to surge in the aerospace and food and beverage industries, thereby propelling the growth. The segment is expected to hold a CAGR of 6.3% during the forecast period.
Institutional Sector to take the Lion’s Share
The growing need for digitization and paperless processes in institutions is driving the demand for inkjet printers. Institutions are increasingly adopting digital workflows, document management systems, and online platforms, which require efficient printing solutions. Inkjet printers provide high-quality prints, fast printing speeds, and versatility, making them suitable for various institutional printing needs. The segment is anticipated to witness a market share of 53.4%.
Inkjet printers are known for their ability to produce vibrant colors, sharp texts, and detailed graphics, making them suitable for printing materials like brochures, posters, banners, and educational materials. Institutions, such as universities, schools, and government organizations, often require high-quality prints for promotional materials, presentations, and official documents. Inkjet printers meet these requirements and offer accurate color reproduction, enhancing the overall print quality. The segment is expected to hold a CAGR of 6.5% during the forecast period.
Increasing Production of Foils & Films to Boost the Market Growth
Japan inkjet printers market is likely to grow at a rapid pace in the forthcoming years on the back of the increasing production of foils and films used in packaging printing. The rising usage of these printers in the designing of clothing lines is also expected to drive the growth in Japan. The country is expected to hold a CAGR of 6.6% over the analysis period.
In January 2022, For instance, Daiya Industry Co., Ltd., an Okayama Prefecture-based manufacturer of medical supplies and support clothing, started using Roland DG's inkjet printers to manufacture in-house prototypes and made-to-order designs. As per the company, usage of these printers has enabled it to create a wide range of designs and enhance supply. Such innovations with inkjet printers in numerous industries are estimated to boost the Japan market. The country is expected to witness a market share of 4.0%.
Rising Demand for Packaging Solutions to Boost the Market Growth
Growing demand for packaging solutions and the presence of supporting equipment and service providers are expected to boost the inkjet printers market in Spain. In March 2019, for instance, EFI, a pioneer in digital printing, announced that it is planning to broaden its presence in the Spanish packaging market.
The company took this decision after Hinojosa and Grupo La Plana invested huge sums in Nozomi C18000 ultra-high-speed, single-pass LED inkjet corrugated packaging press technology. Spain is expected to hold a CAGR of 6.5% over the analysis period.
In Italy, Vignola Cherry Consortium teamed up with Ghelfi Ondulati to develop a direct line of communication with Vignola customers in December 2019. It has started using an HP PageWide T1100S high-speed color inkjet web press to create corrugated packaging for printing a unique QR code on every box of cherries.
The development is expected to enable customers to know more about the date, type of cherry, field of origin, and similar other information about the product. The urgent need to create awareness among customers regarding the quality and freshness of specific products is projected to boost the Italy market in Western Europe.
Low Cost of Manufacturing to Boost the Market Growth
In Asia Pacific, China is likely to lead the inkjet printers market in the near future backed by the presence of low-cost labor. The manufacturing cost is also relatively lower, thereby enabling many inkjet printer manufacturers to set up their production plants.
Numerous printing companies based in Europe are dependent on China for the supply of novel chemicals, such as constituents of inks and solvents, which are required in printing procedures as input materials. On top of that, increasing investment by smartphone companies in the manufacturing of these printers is a significant factor pushing sales in the country.
In June 2020, XiaoMi launched its unique Mi Inkjet All-In-One Wireless Printer for the Chinese domestic market. The new product costs about USD 70 and are available in three modes of operation, namely, scanning, copying, and printing. It also supports wired USB connections. The country is expected to hold a CAGR of 7.7% over the analysis period.
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Inkjet printers market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to create a larger customer base.
For instance:
Key players in the inkjet printers market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their inkjet printers production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported inkjet printers.
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia & Pacific; South Asia; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel. |
| Key Segments Covered | Printer Type, Technology Type, Substrate, End-use Industry, and Region |
| Key Companies Profiled | HP Inc.; Canon Inc.; Seiko Epson Corporation; Domino Printing Sciences plc; Brothers Industries Ltd.; Hitachi Industrial Equipment Systems Co., Ltd.; Inkjet Inc.; Xerox Corporation; Videojet Technologies, Inc.; Markem-Imaje Corporation; Lexmark International, Inc. |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global inkjet printers market is expected to grow at a 6.7% CAGR from 2023 to 2033.
By 2023, the global inkjet printers market is estimated to gain USD 59.1 billion.
By 2033, the inkjet printers market valuation can reach a sum of USD 113.1 billion.
In 2033, China is expected to hold a CAGR of 7.7% of the market during the forecast period.
The most popular printer type segment is large format printers, and is expected to witness a CAGR of 6.6% during the forecast period.
The most popular end-user industry is institutional, and is expected to hold a CAGR of 6.5% during the forecast period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printer Type 5.1. Single Functional Printers 5.2. Multi-Functional Printers 5.3. Large Format Printers 5.4. Industrial Inkjet Printers 5.5. Textile Inkjet Printers 5.6. Inkjet Press 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology Type 6.1. Continuous Inkjet 6.2. Drop on Demand 6.2.1. Thermal DOD 6.2.2. Piezoelectric DOD 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Substrate 7.1. Plastic 7.2. Metal 7.3. Paper 7.4. Fabric 7.5. Ceramic 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use Industry 8.1. Consumer 8.2. Institutional 8.3. Industrial 8.3.1. Packaging 8.3.2. Publishing 8.3.3. Photography 8.3.4. Textile 8.3.5. Advertisement 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. HP Inc. 19.2. Canon Inc. 19.3. Seiko Epson Corporation 19.4. Domino Printing Sciences plc 19.5. Brothers Industries Ltd. 19.6. Hitachi Industrial Equipment Systems Co., Ltd. 19.7. Inkjet Inc. 19.8. Xerox Corporation 19.9. Videojet Technologies, Inc. 19.10. Markem-Imaje Corporation 19.11. Lexmark International, Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
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Inkjet Printers Market
