The recent years have had printing toners market witnessing a plethora of contemporary product launches, primarily on account of the fact major companies constituting this business space seem focused on expanding their product portfolio across various industry verticals along the likes of color and monochrome. The latest launch of AccurioLabel 190 - a new kind of label press by Konica Minolta Inc., a key player in the printing industry, at the LabelExpo Europe is expected to considerably disrupt the product spectrum of printing toners industry. The new product, developed by Konica in association with Grafisk Maskinfabrik, is expected to be commercially available in December this year and will replace its predecessor, the C71cf.
U.S. printing toners market size, by production technology, 2013 - 2024 (USD Million)
In yet another breakthrough witnessed across printing toners market, a European division of Ricoh Company, a Japanese firm manufacturing electronic items, has formed an association with Orséry, a French start up, to offer onsite boom-on-demand printing solutions for its customers. The deal would plausibly help end-users print their own publications onsite at libraries and bookstores, thereby generating a lucrative avenue for printing toners market giants.
It has been observed that long-term exposure to the product can cause health issues such as respiratory disorders, which may prove to be a slight constraint to printing toners market. The emergence of paper saving services as a part of ‘Save Trees, Save Environment and Save Earth ‘initiative and rapid acceptance of electronic media is projected to impede the growth of printing toners industry. Nonetheless, efforts are being made by companies to combat these challenges, which may help sustain the business expansion.
Monochrome and color printing applications are expected to contribute massively toward printing toners industry development. Color printing application is expected to majorly influence the business landscape over the next few years, having made a commendable revenue contribution of over USD 1.5 billion in 2016. Escalated popularity of folding cartons printing, desktop publishing, and commercial printing are foreseen to uplift the product demand in the ensuing years. In addition, technological innovations have made color printing more cost-effective, which can help augment this business sphere over 2017-2024.
Speaking in terms of geographical trends, North America dominated the global printing toners industry in 2016, having held a revenue of more than USD 1 billion. Massive product demand in laser and commercial printing activities largely carried out across the region will accelerate the business expansion. In what may seem as a major boost to North America printing toners industry, Xeikon café, a leading provider of digital printing services, has inaugurated its innovation center in Chicago on October 17, 2017 as a part of its initiative to expand across the continent. Through this initiative, the firm intends to provide new employment opportunities for local masses. The new center will also unveil four of its digital printing press services: Xeikon PX3000, a recently launched UV inkjet digital label press, Xeikon 9800 duplex electrophotography printing press for graphic arts, Xeikon CX500, and Xeikon 3500, a high-speed EP digital press for carton packaging, at the new center, thereby challenging the players partaking in North America printing toners market share.
The rapidly increasing industrialization in countries such as China, India, and Japan has led to companies adopting new printing technologies, thereby creating a lucrative demand for printing toners industry. Technological innovations in the packaging arena and the rising trends toward the usage of tailored printers are expected to stimulate APAC printing toners market share, slated to grow at a CAGR of nearly 7% over the next seven years.
It is observed that reputed players such as Xerox Corporation, Toshiba Corporation, Panasonic Corporation, HP Incorporation, and Canon Incorporation have been focusing on making tremendous efforts to produce eco-friendly products as a part of their corporate social responsibility, thereby making a major contribution toward the environment. Furthermore, printing toners market participants have also been involved in capacity expansion strategies, by highlighting their focus on the exploration of the untapped regions. Global Market Insights, Inc. estimates that printing toners market will grow at a rate of 6.2% over the coming seven years, having generated a revenue of nearly USD 3.5 billion in 2016.