LFP - Large-Format-Printing
Digital printing to continue growing in market share from other traditional technologies
Wednesday 06. June 2018 - Printing industry to capitalise on the Personalisation trend
The printing industry, globally as well as in the Middle East is dynamic in nature and on an evolutionary path. The change in the customers needs, technology and market conditions have made it important for all the major players in the industry to innovate and adapt their offerings to the conditions. While some manufacturers would prefer to consolidate their traditional print businesses, others may choose to expand into other relevant services. One thing that will be common is a need to not just rely on successful traditional business models but make strategic decisions to look at providing print technology and services for a future workplace.
According to Sharif Rahman, CEO, International Expo-Consults LLC, organiser of SGI Dubai show said, “The growing popularity of customised printing and personalisation has captured the printing industry in a big way. Customisation isnt just a fad but a trend that is here to stay. To meet the growing demands of the market, changes in the industry are required. Manufacturers need to innovate and provide solutions that will take full advantage of the trend. Personalisation will also help grow the digital printing industry. Due to the nature of the demand, digital printing technology is the only one which can provide the dynamic combination of affordability, speed and level of personalisation.”
One of the biggest sectors to benefit from the personalisation trend is the textile printing market, especially the ones related to fashion and home decoration verticals. Big brands in printing are already working with leading fashion houses and the digital textile printing market is forecasted to grow by 17.5% to reach a market value of $2.66 billion by 2021. In an effort to speed up the time it takes to bring the clothes from the runway into the stores, many labels are opting for digital printing. The cost of small production size has also decreased with digital printing. This means that personalised designs which were very expensive once are now feasible and doesnt create waste.
In 2018, digital printing will play an important role in the growth of the industry. Year after year it pulls in market share from other traditional printing technologies. In 2017, digital printing accounted for 16.2% of global print market value and around 2.9% of the volume and that value will rise to 3.9% by 2022. While these numbers seem really low, please do take into account that most of the bulk of the printing industry is low-value publication printing whose numbers are falling every year. The most versatile and fast growing of the lot is inkjet technology which has completely revolutionised the wide format printing industry which has grabbed most of the display market.
Similarly, the printing market in the Middle East has been faring well. According to a Smithers Pira report titled – The Future of Printing in the Middle East and North Africa to 2022, the MENA region was valued at $26.8 billion in 2017 and is expected to expand at an annual rate of 8.7% to pass $40 billion by 2022. The MENA market takes a cue from the global markets and therefore will witness similar trends. SGI Dubai, the largest exhibition for wide format printing in the Middle East is one of the best places to witness the trends in the industry in the region. Due to its schedule, the event acts as the barometer for the industry and can feel the pulse of how the market will do in the coming months.