Global Large Format Printers Market: Snapshot
Large format printers (LFPs) offers a variety of printing applications. They are capable of producing a wide range of large-sized prints and in making constructional designs, with high quality and with reduced turnaround times. UV-curable inks are emerging as an excellent substitutes to solvent-based inks to be used in large format printers, driven by several unique benefits of the former. The use of UV-curable inks in LFP provides improved quality, enhanced productivity, and leads to time and cost savings. In addition, they also help in minimizing the impact of printing on environment. In recent years, the UV-curable inkjet technology is gaining prominence in the large format printers market. Furthermore, wide-format graphics printers that use UV-curable inks are considered to emit much lower levels of volatile organic compounds (VOCs) as compared to solvent inks. Mainly, two types of UV curable ink are used in inkjet based large format printers: those based on free radical chemistry and cationic inks. As a result, in various regions, this has helped reduce the need for costly air permits.
LFPs produce durable inks onto various media and enable signage to be printed directly onto different types of rigid media. This greatly reduces waste, simplifies the entire workflow, and opens up exciting opportunities for print recycling. Another technology trend that is gaining traction in the large format printers industry is the large-scale 3D printing for printing large-format prototypes or objects. One of the significant benefits of using the additive printing technology is the remarkable increase in speed of printing. In the coming years, this is expected to prove vastly useful for printing medical devices.
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Global Large Format Printer Market: Overview
Large format printers (LFPs), also called wide format printers, support the printing of large roll widths, typically in the range of 18-100 inches. They are used in myriad applications, such as print banners, posters, signage, printed textiles, wall coverings, vehicle graphics, POP displays, and other constructional designs requiring large format artworks. The large-sized prints made with the help of LFPs offer a wide spectrum of display options and along with the use of digital media are considered as potential tools of marketing communication and promotion. A wide variety of printing applications has led to rapid evolution of the global large format printer market. The benefits of reduced turnaround times, along with constant advancements in printing technologies, would continue to offer significant impetus to the large format printer market along the forecast period.
The global large format printer market is expected to witness substantial demand from diverse verticals such as media and advertising, retail, entertainment, healthcare, hospitality, and education. The report offers comprehensive insight into the current market scenario, emerging trends, technological advances in printing technology, market share and size forecasts of major segments, and profiles of key vendors. The factors influencing the demand for various application segments in major regions are evaluated in the report. The analyses help market players understand and assess the impact of key market dynamics on the competitive landscape.
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The study, conducted with the help of an extensive secondary and primary research, incorporates the valuable inputs of key market participants. The research analysis distils large volumes of historical and current market data to offer meaningful insights, which help senior management, business executives, budding entrepreneurs, and industry leaders make evidence-based decisions.
Global Large Format Printer Market: Key Drivers, Restraints, and Opportunities
The rising demand for short-run print jobs across various sectors and increased adoption of UV-curable inks for a wide range of applications are expected to drive the growth of the global large format printer market. In addition, developments in eco-solvent inks and soaring demand for 3D printing in various industry verticals are crucial factors boosting the market. Furthermore, recent technology advancements in ink-level monitoring software and the integration of traditional printing with digital media communication are factors stimulating the demand for LFPs. Coupled with this, the declining prices of LFPs are expected to spur the growth of the global large format printer market. Some vendors are preferring eco-solvent inks over other solvents for vehicle wraps, outdoor signage, and point-of-sale displays, which has spurred the demand for LFPs.
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The prominence of digital media for advertising and promotion is likely to impede the growth of the global large format printer market to some extent. On the other hand, a large number of traditional printing businesses are shifting towards wide format printers to reduce turnaround time, achieve short-run print jobs, and enhance the quality of their images. The emerging trend has created abundant growth opportunities for the market players.
Global Large Format Printer Market: Region-wise Outlook
Geographically, Europe occupies a significant share in the large format printer market. Asia Pacific is fast emerging as a prominent regional market. The growth in Asia Pacific is driven by the demand for UV-cured inks and latex wide format printers across the region. In addition, the adoption of 3D technology and technological advances in printing in various emerging countries, particularly South Korea, Japan, and China, are expected to fuel the market growth.
Global Large Format Printer Market: Competitive landscape
Manufacturers are making significant investments in R&D and launching customized and printers that can meet a wide spectrum of demands from various end users. Vendors actively focus on developing cost-effective large format printers that offer premium printing quality; this enables them to penetrate different emerging markets in major regions, such as Asia Pacific and Europe. Players vying for a significant share in the large format printer market include Canon, Inc., Hewlett-Packard, Mimaki Engineering Co., Ltd., Epson, Konica Minolta, AFGA Graphics, Mutoh, and Kyocera.