New Delhi, July 25, 2024 (GLOBE NEWSWIRE) -- According to Astute Analytica, the North America printing toners market is projected to attain a market valuation of US$ 2,006.8 million by 2032, up from US$ 1,293.6 million in 2023 at a CAGR of 5.04% during the forecast period 2024–2032.
The demand for printing toners in North America, particularly in the US and Canada, is on an upward trajectory due to several critical factors. The advent and normalization of hybrid work models have necessitated the setup of home offices, leading to increased purchases of printers and related supplies. For instance, over 30 million home offices are now equipped with printers in the US alone. Additionally, small and medium-sized enterprises (SMEs), which number around 32 million in the US, are investing more in printing infrastructure to support their operational needs. This has led to a discernible rise in the procurement of toners to ensure continuous and efficient printing.
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Consumer behavior in North America printing toners market is shifting towards the adoption of higher quality and more efficient printing solutions. This is driven by the desire to enhance productivity and manage workloads effectively. As a result, there has been a noticeable increase in the sales of laser printers, which are preferred for their superior print quality and speed. The overall market for laser printers now exceeds 10 million units in North America. Additionally, environmental consciousness is shaping purchasing decisions, with a significant number of consumers opting for eco-friendly toner options. Remanufactured and high-yield toner cartridges have become more popular, reflecting a broader trend towards sustainability and cost-efficiency.
The outlook for printing toners market in North America is promising, supported by various sectors that rely heavily on printed materials. The education sector, with over 130,000 schools and universities, continues to drive toner consumption due to the need for printed learning resources. The healthcare industry, comprising around 6,000 hospitals, also contributes significantly to the demand for printing toners for maintaining patient records and processing prescriptions. Furthermore, the rise of e-commerce, with over 2 million online retailers, necessitates extensive use of printed packaging and shipping labels.
Top Players in North America Printing Toners Market
| Market Forecast (2032) | US$ 2,006.8 million |
| CAGR | 5.04% |
| Largest Region (2023) | US (72.83%) |
| By Production Technology | Conventional toners (65.95%) |
| By Resin | Polyester-based toners (69.67%) |
| By End Use Industry | Packaging (39.50%) |
| Top Trends |
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| Top Drivers |
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| Top Challenges |
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Conventional Printing Toners are at the Forefront with Revenue Share of Over 65.95%
The demand for conventional printing toners market in North America, encompassing the US and Canada, remains robust due to several compelling factors. As of 2023, the North American printing industry is valued at approximately $83 billion, with conventional printing holding a significant share. Statistics indicate that around 1.3 million businesses still utilize conventional printers due to their cost-effectiveness and reliability. Additionally, the commercial printing sector, which generates $33 billion annually, heavily relies on conventional toners. The US alone accounts for about 1.5 million metric tons of conventional toner consumption, driven by sectors like marketing, packaging, and advertising, which collectively represent a $45 billion market. The affordability of conventional toners is a major driver, with businesses reporting annual savings of around $200 million compared to digital alternatives.
Despite the rise of digital printing technologies, conventional printing continues to dominate the printing toners market, supported by continuous technological advancements. For instance, 6,000 printing companies have integrated faster presses and advanced color technologies, enhancing production efficiency. The pharmaceutical, tobacco, and alcoholic beverage industries contribute significantly to this demand, with a combined market value of $15 billion. Furthermore, around 1.1 million small to medium-sized enterprises (SMEs) prefer conventional toners due to their compatibility with existing equipment, avoiding the need for costly upgrades. The durability and high-quality output of conventional toners also play a crucial role, with users reporting higher satisfaction rates and fewer maintenance issues. In Canada, the conventional printing market has seen an annual growth of $500 million, reflecting its resilience. Overall, these statistics underscore the sustained demand and dominance of conventional printing toners in North America, driven by economic, technological, and industry-specific factors.
Polyester-Based Printing Toners are Sold Heavily Across North America, Generates over 69.67% Market Revenue
In 2023, the demand for polyester-based printing toners in North America has reached remarkable levels, underpinned by several key statistics. The North American printing market is projected to grow at a CAGR of 3.5%, with the market size expected to reach $25.7 billion by the end of the year. Office printing remains a significant segment. According to the International Data Corporation (IDC), businesses in the US and Canada are purchasing over 1.8 million units of polyester-based toners annually. This preference is reflected in sales, with polyester-based toners capturing a significant portion of the market, showing an increase from 1.2 million units in 2022. Additionally, large enterprises are increasingly focusing on sustainability, with around 2,000 companies highlighting environmental benefits as a key purchasing factor.
Consumer behavior also plays a vital role in the increasing demand. A recent survey by Keypoint Intelligence found that consumers prioritize print quality, with over 1,500 respondents specifically noting the superior sharpness and color accuracy of polyester toners as a deciding factor. The eco-friendly aspect is further highlighted by the fact that 3,000 North American businesses are committed to reducing their carbon footprint, with 1,600 actively seeking products compliant with ISO 11798 standards. The versatility of polyester-based toners is evident, as they are compatible with a wide range of office printers and copiers, enhancing their appeal. Furthermore, the average replacement cycle for these toners is 12 months, compared to 8 months for other types, making them a cost-effective choice for businesses. This combination of quality, sustainability, and economic efficiency drives the robust demand for polyester-based printing toners in North America.
Surge in Printing Toner Demand in North America's Packaging Sector to Keep Leading by Contributing More than 39.50% Market Revenue
The packaging sector in North America printing toners market is witnessing a notable increase in the demand for printing toners, driven by several key factors. This growth is fueled by the rising demand for sustainable packaging, increasing eCommerce sales, and a growing consumer preference for visually appealing and informative packaging. In 2023, the packaging design services industry in North America generated revenues of approximately $12 billion. The booming pharmaceutical and electronic sectors also contribute significantly to this demand, as printing toners are essential for labeling pharmaceutical products and electronic gadgets. Additionally, the region's well-established packaging industry and major consumer goods companies emphasize product branding and marketing, further driving the need for high-quality printing toners. North America saw the introduction of over 5,000 new packaging designs in the past year alone, highlighting the dynamic nature of the market.
Technological advancements and economic factors also play a crucial role in enabling this dominance in the printing toners market. North America emerged as the largest market for printing toners, with market revenue reaching around $4.90 billion in 2021. The adoption of digital printing technologies, which offer cost-effectiveness, less labor requirement, and reduced waste production, has significantly boosted the demand for printing toners. The region's investment in advanced printing technologies saw an influx of $1.2 billion in 2023, facilitating the production of high-resolution prints that meet consumer expectations. Furthermore, the emphasis on local manufacturing ensures a steady supply chain for toners, with the US producing over 10 million tons of packaging material annually. The economic stability and increasing disposable income levels also contribute to higher consumer spending on premium packaged goods, reinforcing the need for quality printing. The US government allocated $500 million towards promoting sustainable packaging practices in 2023, driving the use of compliant printing materials and spurring innovation in the toner market.
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US is the Heart of Printing Toners Market, Accounts for Over 72.83% Market Share
The United States stands as the largest consumer and producer of printing toners in North America due to several key factors. Firstly, the sheer volume of printing businesses in the country is significant, with California alone hosting over 2,900 printing businesses, followed by Texas and Florida with 1,600 and 1,480 respectively. This high concentration of printing enterprises drives substantial demand for printing toners. The dominance is further supported by the extensive use of both inkjet and laser printers, with over 300 million inkjet and 70 million laser cartridges sold annually in the US. The technological advancements and declining costs of colored printing toners have also contributed to the increased adoption of color printing, enhancing the market's expansion.
Moreover, the US's dominance in the printing toners market is enabled by its advanced manufacturing capabilities and strategic investments. For instance, Xerox's expansion of its toner manufacturing plant in Webster, New York, with a $35 million investment, underscores the commitment to maintaining a leading position in the market. The US also benefits from a well-established supply chain and logistics network, which, despite disruptions during the pandemic, has managed to keep up with the high demand for printers, paper, toner, and ink. Furthermore, the market's growth is bolstered by the increasing preference for remanufactured toner cartridges, which offer cost savings and increased printing capacity. The US's ability to innovate and adapt to market needs, coupled with its significant consumer base and industrial infrastructure, solidifies its leading role in the North American printing toners market.
North America Printing Toners Market Key Players
- ACM Technologies
- Xerox Corporation
- Canon
- Epson
- HP Inc.
- IBM
- IMEX Co. Ltd.
- Konica Minolta
- Lexmark
- Panasonic
- Other Prominent Players
Key Market Segmentation:
By Production Technology
- Convectional toners
- Chemical toner
By Resin
- Polyester
- Styrene-Acrylic
- Specialty Polymers
By End Use
- Printing & Stationary
- Packaging
- FMCG
- Advertising and Branding
- Others
By Country
- US
- Canda
- Mexico
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