New York, United States, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Commercial printing has become more common since the invention of the printing press. Due to rising applications in several end-use sectors and technological improvements, there is a predicted increase in global demand. Financial documents, manuals, and corporate forms are just some of the many printed goods commercial printers make. Commercial clients' advertising and product needs are the primary drivers of the need for high-quality printing projects. Periodicals, transactional mail, direct mail, product manuals, and catalogs are some of the many uses for commercial printing. Commercially produced items like books, direct mail, brochures, and recordings benefit from the rising popularity of short-run printing for various reasons. For instance, it was common practice to send the same direct mail message to multiple customers.
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Increased Demand for Promotional Materials Drives the Global Market
According to Straits Research, "The global commercial printing market size was valued at USD 471.80 billion in 2022. It is projected to reach USD 568.84 billion by 2031, growing at a CAGR of 2.10% during the forecast period (2023-2031)." Print advertising is one of the primary marketing tactics supporting the commercial printing sector. Retail businesses aware of their target markets employ print advertising as a holistic marketing strategy. Additionally, a recent Adobe study of 1,250 U.S. customers showed a problem with online or digital marketing failing to capture people's interest, with print-based adverts obtaining greater customer attention. As long as the magazine is still in circulation, an advertisement that appears in a magazine may promote a good or service for months or even years. The need for print-based advertising is rising since it has the potential to last from a single investment to several food and retail businesses.
Introduction of Eco-friendly Practices Creates Tremendous Opportunities
The activities and techniques used in the commercial printing industry are being significantly changed, including gradually replacing conventional methods with more environmentally friendly ones. Several new measures are being created for the printing industries, with the critical environmental effects being prioritized. Additionally, the chemicals utilized in the printing process have several negative consequences induced by the emissions of volatile organic compounds (VOCs) and other pollutants. To lessen these printing-related problems, fresh, efficient, and practical solutions have been made possible through green printing tactics. Solvent-based inks are commonly used in gravure and flexography printing techniques due to the nature of the printing process. When printing, these flammable solvents produce fumes. VOCs are released into the atmosphere due to the solvent and ink used in the heat-set lithographic printing process.
Regional Analysis
Asia-Pacific's commercial printing industry revenue is anticipated to grow at a CAGR of 2.30% during the projection period. The Asia-Pacific area is expected to have significant revenue growth due to the growing demand for commercial printing in developing nations like India, Japan, China, Indonesia, Bangladesh, and Thailand. Due to developments in new technology, altered lifestyles, the growth of e-commerce, and urbanization, the printing market in the region is rising. Over the past three decades, the Chinese economy has experienced meteoric growth, catapulting it to the second position in the global economic rankings. China has the world's largest and fastest-growing population, and its economy is also increasing rapidly. Due to the presence of large manufacturers and the influx of Fortune 500 companies, the Chinese commercial printing industry and the potential for using digital printing technology have gained importance.
North America is anticipated to grow at a CAGR of 1.60% during the projection period. North America is projected to dominate the commercial printing market as a result of the swift adoption of contemporary printing technologies in countries like the United States and Canada. The increase in advertising spending is expected to have a beneficial impact on the market's growth. In 2019, the United States was the second-largest advertising market in the world. The rising use of premium printed packaging for branding and advertising is causing the sector to grow.
Key Highlights
- Based on type, the global commercial printing market is bifurcated into offset lithography, inkjet, flexographic, screen, and gravure. The offset lithography segment is the major contributor to the market and is estimated to grow at a CAGR of 1.80% during the forecast period.
- Based on application, the global commercial printing market is bifurcated into packaging, advertising, publishing, and others. The packaging segment is the major contributor to the market and is estimated to grow at a CAGR of 2.20% during the forecast period.
- Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 2.30% during the forecast period.
Competitive Players
Top powerful 11 global players are Quad/Graphics Inc., ACME Printing, LSC Communications US LLC, Cenveo Corporation, Transcontinental Inc., Dai Nippon Printing Co. Ltd, RR Donnelley and Sons, Bertelsmann S.E. and Co. KGaA, Toppan Co. Ltd, Vistaprint NV, and Ennis Inc.
Market News
- In June 2022, Toppan developed a hologram capable of displaying text and images in response to bright light. Verification became simpler for users without specialist equipment or a Q.R. code.
Global Commercial Printing Market: Segmentation
By Type
- Offset Lithography
- Inkjet
- Flexographic
- Screen
- Gravure
- Other Types
By Application
- Packaging
- Advertising
- Publishing
- Other Applications
By Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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