Global Printing Industry Value Projected to Reach $834.3 Billion by 2026

Commercial, graphic, publication, packaging and label printing all face the fundamental challenge of adapting to the market space after Covid-19. As stated in Smithers' new report, The Future of Global Printing to 2026, after a highly disruptive 2020, the market recovered in 2021, although the extent of recovery was not uniform across all segments.

The total value of global printing in 2021 will reach USD 760.6 billion, equivalent to 41.9 trillion A4 prints produced worldwide. This is an increase from USD 750 billion in 2020, but volume declined further, down 5.87 trillion A4 prints from 2019. This impact is most evident in publications and in some graphic and commercial applications. Stay-at-home orders led to a sharp decline in magazine and newspaper sales, only partially offset by a short-term increase in orders for educational and leisure books, and much routine commercial printing and graphic work was canceled. Packaging and label printing were more resilient and provide a clear strategic focus for the industry's development over the next five years. With the steady return of end-use markets, investment in new printing and finishing equipment will reach USD 15.9 billion this year.

Smithers expects that by 2026, packaging and labels as well as new demand from Asia's growing economies will drive moderate growth - a compound annual growth rate of 1.9% (at constant prices). By 2026, total value is expected to reach USD 834.3 billion. Volume growth will slow to a compound annual growth rate of 0.7%, rising to 43.4 trillion A4 paper equivalents by 2026, but most of the volume lost in 2019-2020 will not be recovered.

Responding to rapidly changing consumer demand while modernizing print shops and business processes will be key to the future success of companies at every stage of the printing supply chain.

Smithers' expert analysis identifies the main trends for 2021-2026:

· In the post-pandemic era, more and more localized print supply chains will become increasingly popular. Print buyers will be less dependent on single suppliers and just-in-time delivery models; instead, demand will increase for flexible printing services that can respond quickly to changes in market conditions;

· Disrupted supply chains generally favor digital inkjet and electrophotographic printing, accelerating their adoption in multiple end-use application areas. The market share of digital printing (by value) will increase from 17.2% in 2021 to 21.6% in 2026, making it a major focus of research and development across the industry;

· Demand for printed e-commerce packaging will continue, with brands eager to provide improved experiences and engagement. Higher-quality digital printing will be used to take advantage of improved messaging on packaging, promote other products, and add a potential revenue stream for print service providers. This is consistent with the industry trend toward smaller print runs that are closer to consumers;

· As the world becomes increasingly electronically connected, printing equipment will adopt more Industry 4.0 and network printing concepts. This will improve uptime and order turnaround, allow better benchmarking, and enable machines to publish available capacity online in real time to attract more work.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-378683.html