Printing consumables are used in offices and for commercial purposes. Printing consumables include inks, toners, chemicals, and specialty substrates. The rapidly growing domestic and industrial markets are aiding the growth of the specialty printing consumables market. The growth of the packaging industry is benefitting the specialty printing consumables market.
The U.S. market for specialty printing consumables is expanding owing to the increase in the shipments by the commercial printing industry. The increasing use of 3D printers is boosting the U.S. specialty printing consumables market. Frequent advancements in specialty printing consumables are anticipated to bring about the healthy growth of the specialty printing consumables market in the coming years.
Office and Professional Segment to Expand at 4.7% CAGR between 2016 and 2024
The U.S. specialty printing consumables market is segmented on the basis of printing process, application, and product. On the basis of application, the U.S. specialty printing consumables market is segmented into office and professional, commercial printing and publishing, and others. Of these, the office and professional application segment represented a share of 54% in 2015 and is also expected to expand at the highest CAGR of 4.7% from 2016 to 2024.
On the basis of printing process, the market is segmented into flexographic, lithographic, digital, and rotogravure printing segments. Of these, the lithographic printing segment dominated in 2015, accounting for 51% of the U.S. specialty printing consumables market.
Based on type of product, the U.S. specialty printing consumables market is segmented into toner, specialty substrate, ink, and chemicals. While the toner segment dominated in 2015, accounting for 48% of the U.S. specialty printing consumables market, the specialty substrate segment is anticipated to expand at the highest CAGR of 5.4% between 2016 and 2024.
Market Players Expected to Strengthen Market Position by Focusing on Emerging Technologies
The U.S. specialty printing consumables market is led by companies such as Xerox Corporation, Hewlett-Packard Development Company, L.P., and Lexmark International Inc. These companies are stressing on new product development to increase the efficiency of the printing process and thus, open new opportunities. Hewlett-Packard Development Company, for instance, is expected to strengthen its position in the market by introducing a series of secure laser jet printers, which is expected to attract small to medium-sized businesses. The company is focusing on emerging technologies such as 3D printing, graphics, and managed print services. Moreover, Hewlett-Packard Development Company aims to expand its business with the acquisition of companies such as MacDermid Color Span Inc. and NUR Macroprinters Ltd.
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Other companies such as Xerox are anticipating a growth in their business by targeting specific markets such as healthcare and transportation, by acquiring organizations such as inVentive Health and Consilience Software. Xerox is expected to strengthen its market position by launching innovative products such as Impica eVolution and Versant 2100.
Some of the other companies operating in the U.S. specialty printing consumables market are: DIC Corporation, Nazdar Ink Technologies, Eastman Kodak Co., Lexmark International Inc., Canon Inc., and Flint Ink Inc.