The printing toner market could reach $ 4.67 billion by 2027, according to Global Market Insights Inc.
SELBYVILLE, Del., August 9, 2021 / PRNewswire / – According to the report published by Global Market Insights Inc., the global printing toner market was valued at $ 3.33 billion in 2020 and is expected to hit $ 4.67 billion by 2027, the registration of a 4.9% CAGR from 2021 to 2027. The report offers a detailed analysis of industry estimates and size, major winning strategies, major investment avenues, opportunities and drivers, uncertain industry trends and scenario. competitive.
Growth in the printing toner market will be primarily driven by growth in retail and food and beverage sales and the growing importance of packaging. A global increase in sales of electronics products and an increase in disposable income levels will complement this growth. The increase in recycling of printing toners due to the increased demand for high performance packaging in the food and beverage, retail, pharmaceutical and electronics industries will be a key trend in the industry during the forecast period 2021-2027.
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In the food and beverage industry, printing toners are used to print a range of packaging materials including corrugated containers, flexible packaging, folding cartons, labels and tags, etc. . They also find applications for printing catalogs, bookmarks, brochures, manuals and menu cards commonly used for branding and advertising of food and drink products. In addition to providing information describing the contents of the package, it also indicates the purchase price, size and date of manufacture and expiration of the product. Since packaging is a key factor influencing consumer purchasing decisions, the growth in packaging demand will certainly benefit the printing toner industry.
Main reasons for the growth of the printing toner market:
- Demand for high performance packaging in retail, food and beverage and other fields.
- Growing penetration of chemically prepared toner technology.
- Increased preference for color printing toners.
- Profitable opportunities in the European region.
The chemically prepared toners segment is expected to generate substantial revenue by 2027:
The chemically prepared toner technology segment was estimated to be $ 2.27 billion in 2020. It has experienced increasing popularity and commercialization in recent years, as printers compatible with chemically prepared toners were not developed earlier. Higher printing capacity and considerable savings in time and money are the main advantages of the technology. New technological advancements will positively impact the chemically prepared toners market forecast.
The 2027 forecast shows that the âcolor printing tonerâ segment retains its dominance:
The market demand for color printing toners could increase at a CAGR of over 5.5% during 2021-2027. Continuous technological advancements in printing devices and toners make printers and color toners more affordable. The growing consumer appeal of color printing due to improved aesthetic appeal and increased purchasing power will increase the demand for products.
Europe maintain its status as a leader in terms of turnover:
Europe printing toner industry generated approximately $ 890 million in 2020. The demand for regional products will be accelerated by the need to improve packaging, branding and advertising in the food and beverage, retail, electronics, pharmacy and other sectors.
Impact of the COVID-19 crisis on printing toner market trends:
The COVID-19 pandemic has affected nearly every industry vertical, and the printing toner market is no exception. Nationwide lockdowns and business closures in most countries have resulted in weakening demand for products. Labor shortages and strict operating protocols in the midst of the pandemic have also posed many challenges for printing toner manufacturers. Growth in sales of essential products and supplies during COVID-19, particularly through online channels, has increased demand for packaging, creating positive opportunities for the market.
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Major market players:
Major market players analyzed in the Global Printing Toner Industry report include HP Inc., Epson, Xerox Corporation, Toshiba, Canon, Konica Minolta, IBM, Brother International Corporation, Lexmark, and others. Industry players focus on product development, mergers and acquisitions, strategic partnerships and joint ventures, and long-term R&D investment strategies.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered at Delaware, in the United States, is a global provider of market research and consulting services. Offering syndicated and personalized research reports, growth advice, and business intelligence services, Global Market Insights, Inc. aims to help clients with insightful insights and actionable market data that aid strategic decision making.
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Printing Toner Market Outlook
SOURCE Global Market Insights, Inc.