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Advent of 3D Printing Compels Manufacturers of Specialty Printing Consumables in U.S. to Focus on Product Innovation

The U.S. specialty printing consumables market was valued at US$24.09 bn in 2015 and, increasing at a 4.4% CAGR, is forecast to reach US$35.75 bn by 2024.

Leading manufacturers of specialty printing consumables, such as DIC Corp., Xerox Corp., Canon Inc., HP Development Co., and Eastman Kodak Co., are working aggressively on product innovation in order to meet the rising expectations of consumers. For instance, in October 2015, Canon unveiled its resin 3D printer concept, which, according to the company, is well suited for rapid prototyping as well as manufacturing. The concept is projected to be much faster than current technologies and aims to produce stronger prints.

U.S. Specialty Printing Consumables Market: Snapshot 

The recuperating economy of the U.S. has offered a substantial growth opportunity to the market for specialty printing consumables in this country. The construction of new offices and the rejuvenation of older ones in order to support business activities have propelled the application of these consumables significantly. Additionally, the rise in demand for digital cameras as well as color laser printing is boosting the adoption of these consumables across the nation. The current trend among U.S. citizens of in-house printing of photographs is also adding significantly to this growing demand.

Going forward, the growing application of specialty printing consumables in various printing procedures such as marking of tags and labels and printing on consumer products is expected to boost their demand substantially over the next few years. In 2015, the opportunity in the U.S. specialty printing consumables market was pegged at US$24.09 bn. Rising at a CAGR of 4.4% between 2016 and 2024, it is expected to be worth US$35.75 bn by 2024.


Toners to Remain Leading Specialty Printing Consumables

Inks, toners, chemicals, and specialty substrates are the key specialty printing consumables available in the global market. In 2015, the demand for toners was the highest among these with a share of just over 48%. The segment is likely to remain dominant for the rest of the forecast period, expanding at a CAGR of 4.5%.
The specialty substrate segment is also anticipated to register significant growth in the coming years. An upswing in the adoption of digital cameras is projected to boost the demand for these substrates at a 5.4% CAGR from 2016 to 2024.


Lithographic Printing Extensively Used across Key Product Types

The lithographic printing segment of the overall specialty printing chemicals market in the U.S. contributed majority market share in 2015 by printing process and is likely to retain its dominance throughout the forecast period. Digital printing, on the other hand, is anticipated to register a CAGR higher than any other segment from 2016 to 2024. 

TMR finds that lithographic printing as well as digital printing will continue to have a significant impact on the specialty printing consumables product market, be it toners, inks, specialty substrates, and chemicals.
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