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The Global Printing Machine Market Growth Is Driven By Increasing Adoption Of Latex Ink Digital Printing Machines

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ashwini bakhade
The Global Printing Machine Market Growth Is Driven By Increasing Adoption Of Latex Ink Digital Printing Machines

 

Printing machines are utilized to transfer images, texts or designs onto various substrates like paper, plastic, metal or textiles. These machines use different printing technologies like flexography, gravure, digital and offset printing. Digital printing machines have advantage over analogue printing machines as they allow on-demand, variable data and customized printing. They can print in smaller batches cost-effectively compared to offset printing. Digital printing machines are increasingly being used for printing labels, packaging, publications and promotional materials due to advantages like low set-up cost, no plates or screens required, reduced waste and ability to print on-demand. The global labels market was valued at US$ 74.1 Bn in 2021 and is projected to exhibit a CAGR of 5.2% during the forecast period, driving demand for label printing machines, especially digital machines. In packaging industry, brands are leveraging digital printing to engage customers by providing customized and personalized packaging solutions. Growth in e-commerce has also accelerated demand for short run, on-demand and personalized printing.

The global Printing Machine Market is estimated to be valued at US$ 98.72 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

One key trend in the printing machine market is increasing adoption of latex ink digital printing machines. Latex inks have benefits over other conventional inks used in digital printing such as UV or solvent inks. They produce sharper prints with higher resolution and wider color gamut. Latex inks instantly bond with media substrates like paper, do not require special ventilation and drying systems. They also emit very low VOCs, making latex ink digital printers more environmentally sustainable and user-friendly option for commercial and packaging applications. Leading printing machine manufacturers are focusing on developing latex ink printers to leverage the advantages offered and gain market share.


Porter's Analysis


Threat of new entrants: Low threat. High capital expenditures required to enter the market and strong economies of scale. The industry is concentrated with some major players dominating the market.


Bargaining power of buyers: Moderate bargaining power. Buyers in the printing machine market have moderate bargaining power owing to the presence of many local players.


Bargaining power of suppliers: Moderate bargaining power. A few major suppliers exist for key components like paper and ink used in printing machines.


Threat of new substitutes: Low threat. No major substitute exists for printing needs especially industrial and commercial printing.


Competitive rivalry: High competitive rivalry. The industry is consolidated with major players like CHEP, PalletOne, John Rock competing aggressively on the basis of technological innovations and services.



Key Takeaways


The Global Printing Machine Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Printing Machine Market is estimated to be valued at US$ 98.72 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.


Regional analysis: Asia Pacific region has emerged as the global hub for printing machine owing to rapid industrialization. China dominates the regional market with over 55% market share. India is projected to witness strong growth backed by expanding publishing and packaging sector.


Key players: Key players operating in the printing machine market are CHEP, PalletOne, John Rock, Millwood, Brambles, CABKA North America, United Pallet Services, Pacific Pallet, Midland Pallet LLC, The Nelson Companies. Players compete on the basis of product quality, reliability, technological innovations and services.

For More details on the topic:

https://www.marketwebjournal.com/printing-machine-market/


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