Functional and Industrial Printing Market to Grow by Almost 50 Percent
Time：2018-04-11 From：
Industrial and functional printing applications are assumed to grow to a market value of $114.8 billion by 2022. These numbers can be found in ‚The Future of Functional and Industrial Print to 2022‘ by Smithers Pira. The expected growing sectors are for example décor and laminates, ceramics, electronics and many more, all using specialist analog methods and inkjet. 3D printing alone is expected to grow from $1.73 to $5.66 billion by 2023.
‘Suppliers have developed new equipment that widens the applications, with new inks, coatings, and functional fluids’states Sean Smyth, who is responsible for management and development of Smither Pira’s printing consulting operations. New equipment of suppliers, as well as novel capabilities in electronics and biomedical, are the main reason for the increasing numbers. Mainly, digital methods seem to play an important role, as new inkjet inks and fluids open many new opportunities.
Asia as Big Player in Industrial Printing
Even though industrial printing takes place all over the world, Asia can be identified as the largest region showing a strong concentration on manufacturing. This includes printing companies but also large electronic companies that use printing as a part of their manufacturing processes.
On the other hand, in regions such as North America and Western Europe, new technologies are being developed. In some cases, as for 3D additive printing, for instance, not only a single manufacturing process but rather the entire supply chain is affected by the change.
The routes to market for printing are very complex and fragmented. Established suppliers may either be manufacturers, or part of a wider supply chain. The degree of efficiency of a printing process demanded by a company usually depends on the significance of the printing process for the final product. Routes to market are being further developed, for print suppliers and equipment manufacturers alike.
In contrast to the growth of most industrial functional print markets, the commercial graphics and publication print sector experiences a significant decrease in demand for print. This fall is mainly due to alternative markets which established equipment and consumable suppliers are seeking.
What are your thoughts on the development of functional and industrial printing?