Future Of Printing Industry In 2022 And Beyond
The estimated value of the Global Commercial Printing Market was $411.99 billion in the year 2020.
It is expected to value around $472.35 billion by the end of 2026, with a CAGR of about 2.24 percent between 2021 as well as 2026. The printing industry is expected to grow drastically in the upcoming five years.
As per the most recent research study, the pandemic situation has wreaked havoc on numerous global sectors, including the print industry.
The difficulty of functioning during the lockdown has had an impact on the operational hierarchy. While some of the limitations may go away with time, others may have long-term consequences.
Graphics And Publications: Low To High Growth
During the difficult pandemic situation, the printing of newspapers and periodicals was hugely affected. Because of extensive work-from-home, sales ceased, and readers turned to online channels. Even IKEA, the world’s most important printing operation, has ceased production of catalogs to save money.
People stopped visiting stores, restaurants, pubs, and hotels, which significantly affected the graphics industry especially the PoS (point of sale) and wide-format display.
Print Substrates Are Still In A Bad Phase
The collapse of the graphic industry, as well as the reduction in publication jobs, will manifest in the market that is aimed at print substrates.
Volumes of newsprint, coated or uncoated mechanical, as well as woodfree have all decreased. Much of this, unfortunately, will be permanent.
As per the Smithers study, print substrate usage in 2022 was down by about 10.4 percent from the pre-Covid-19 scenario in 2019.
However, The Good News Is That Ecommerce Is Booming
The volume of eCommerce packaging has increased by 40% when compared to the pre-pandemic period in 2019. Additional packing with delivery labels is required for each order.
As a consequence, there is an immediate requirement for eCommerce packages in the corporate world. Companies may now offer value-added services with flexible data collection possibilities thanks to modern print technology.
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