Specialty Printing Consumables Market Drivers Shaping Future Growth, Revenue USD 56.04 Billion by 2027 | CAGR 4.3%

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Reports And Data

The growing demand from various end-use industries is driving the demand for the market.

NEW YORK CITY, NY, UNITED STATES, March 25, 2022 /EINPresswire.com / -- The global Specialty Printing Consumables market is forecasted to reach USD 56.04 Billion by 2027, according to a new report by Reports and Data. Increasing preference for inkjet printers in mass publishing and changing trends in the packaging industry are expected to drive the market demand. The growing demand for printed fabrics, due to upgrades in contemporary fashion trends, also leads to increased consumer consumption.

A rapid increase in packaging applications, such as food, beverages, and restaurants, is a primary factor in propelling growth. Introduction of the latest technologies, such as nano-scale printing, hybrid printing, 3D printing, and microdispensing in various end-use industries, such as packaging, printed electronics, decorative designing, publishing, and automotive, lead to an increased demand for the product. New players entering the market are coming up with more innovations to capture the market share, and this is expected to further drive the market growth.

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A growing need for large-scale printing, especially in commercial applications, leads to increased product consumption. The product is also used in industries like healthcare and media. Various implants in the healthcare sector, such as cranial implants and hip implants, are produced using multiple 3D printing technologies. The growth of the healthcare sector leads to increased consumption of the product, thus driving market demand.

Market Overview:
The materials and the chemical sector is registering robust growth in terms of revenue and is expected to register for significant revenue growth between 2021 and 2027. This can be attributed to factors such as increasing demand for raw materials and chemicals across various sectors including paper and paint, food & beverage, healthcare, media, pharmaceutical and biotechnology, manufacturing, agriculture and construction, and rising demand for products like soaps, perfumes, detergents for daily usage. Factors such as increasing awareness about energy efficiency, rising disposable income, growing need for reducing carbon emissions, and increasing demand for sustainable biodegradable products are expected to fuel market revenue growth over the forecast period.

Key participants include Sun Chemical Corp., Siegwerk Druckfarben AG & Co. KGaA, Marabu GmbH, Saati S.P.A., Nazdar Ink Technologies, Canon Inc., DIC Corp., Eastman Kodak Co., Xerox Corp., and HP Development Co., among others.

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Further key findings from the report suggest

Chemicals occupied 12.6% of the market share in 2019. The segment is witnessing a slow growth rate due to the increasing awareness regarding the adverse effects that chemicals have on the health of an individual. Long-term exposure to chemical vapors can cause respiratory diseases and skin disorders, due to which there is a fall in demand for the product.

The Offline segment is anticipated to grow with a CAGR of 4.0% during the forecast period. Consumers prefer to examine the product physically before purchasing to make sure it fits their requirements. Hence, this segment occupies a larger market share.

Educational Institutes are forecasted to grow at a CAGR of 4.3% in the forecast period. This is primarily due to the growing younger population, which leads to a rise in the number of schools and colleges. This augments the growth for printed study material, thus driving demand in the segment,

China is one of the largest producers and exporters of Specialty Printing Consumables in the world. This is because major companies of the world have set up their manufacturing centers in the country due to the availability of cheap labor and lower tax rates. The country also ranks high in terms of ease of doing business.

The Middle East and Africa occupied a significant share of the market share in 2019. This is due to the growing corporates in the region. Increasing commercial applications also drive the market growth in the region, especially in countries such as UAE, Saudi Arabia, and South Africa.

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For the purpose of this report, Reports and Data have been segmented into the global Specialty Printing Consumables market on the basis of product, distribution channel, end-user, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

Toner

Ink

Chemicals

Specialty Substrates

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

Offline Stores

Online Stores

End-User Outlook (Revenue, USD Billion; 2017-2027)

Corporates

Commercial

Educational Institutes

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Regional Outlook (Revenue, USD Billion; 2017-2027)

North America

Europe

Asia Pacific

MEA

Latin America

Thank you for reading our report. The report can be customized according to the clients' requirements. To know more about the report, kindly get in touch with us and our team will ensure the report is customized to meet your needs.

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