Wellesley, Mass, Feb. 20, 2017 (GLOBE NEWSWIRE) -- Since its introduction to the consumer market in the late 1980s, inkjet printing has expanded its application from office and graphic arts printers into other markets such as product decoration, biochip production, the fabrication of flat panel display devices and printable electronics. BCC Research forecasts the global markets for inkjet technologies to hit double-digit growth rates as innovative non-printing applications continue to emerge.
Inkjet devices are digital devices that use a variety of technologies to propel microscopic droplets of ink or other fluids in controlled quantities onto a target location.
The global market for inkjet technologies should grow from $4.2 billion in 2016 to $125.2 billion by 2021 at a five-year annual growth rate (CAGR) of 24.6%. Inks and other fluids as a segment should total $23.5 billion and $79.2 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 27.5%. Print heads and other hardware segment should reach $46.7 billion by 2021, up from $18.4 billion in 2016, demonstrating a five-year CAGR of 20.5%.
The Asia-Pacific region, the world's largest market for industrial inkjet technologies, should see its share grow from 55% to 57% between 2015 and 2021. Europe and North America are the second- and third-largest geographical markets with about 18% and 11% of the market, respectively, in 2015. By 2021, Europe’s share is expected to decline to 15%, while the North America's share increases to 13%.
Inkjet printing is beginning to impact other types of applications, such as food flavorings and fragrances, chemicals, and optics. However, demand for inkjet hardware and consumables in these segments are too small to estimate reliably and are likely to have little impact on overall sales between 2015 and 2021.
Product decoration (e.g., textiles, ceramics, glass, wall and floor coverings, food), wich accounted for the bulk of the industrial inkjet market with about 81% in 2015, is projected to total 70% in 2021. As the second-largest segment with 9% of the market in 2015, electronics should reach 15% in 2021. 3-D printing, the third-largest segment with an 8% market share in 2015, is expected to decline to 7% by 2021.
"The continuing development of inkjet technology reflects recent technological progress in a number of fields, including microfluids, microelectromechanical systems, and nanotechnology,” says BCC Research analyst Andrew McWilliams. “For example, Hewlett-Packard plans to use its microfluidic technology for inkjet printing to enter a range of new markets beyond printing, including television and computer displays, printed electronic circuits, automotive fuel-injection systems and even drug delivery. Companies such as Dow Chemical and Xerox have developed polymer inks and printing methods for plastic circuitry, as well."
Emerging Inkjet Printing Technologies, Applications and Global Markets (AVM091C) analyzes the technologies and applications, with a focus on those that have the potential to be disruptive, not just incremental improvements or refinements of existing. (e.g., consumer inkjet) technologies. The report also examines enabling technologies, technology segments, and print head technology. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
