The global commercial printing market has a valuation of $ 411.99 billion in 2020 and has a forecast of $ 472.35 billion for 2026. The growth rate is approximately 2% from 2021 to 2026.
The hierarchy of operations faced a challenge during the lockdown. While the restrictions are gradually heating, some of them can have a long-lasting impact. The commercial printing industry generates around $ 900 billion in revenue with 25,000 specialist companies.
So printing being dead is a hoax. Advanced print technology is embracing innovative media, beyond imagination communication waves, and has a far-fetched future.
Significant changes lie ahead according to consensus. Printing companies and users are adapting to digital printing technology and innovative ways for customizations.
Changing Conditions in Publications and Graphics
Printing of magazines and newspapers had the worst hit due to the pandemic. The widespread adoption of work from home and the switching of users to online channels ceased their sales.
Lockdowns affected the wide-format display and point of sale (or PoS) materials due to the lockdowns, with people restricting their movement. The commercial printings were also severely affected. The service providers shut down due to a drastic fall in demand.
After the pandemic, the companies that survive will have more opportunities in an open and new environment. As this phenomenon triggers, there will be fewer instances of low-value printing operations taking place.
Increased Use of Embossers
Several job positions use stationary embossing regularly. The utility of such embossers is increasing to substantiate the authority on a document. For example, performing the role that notaries play as witnesses needs validation by a seal on the document.
The use of stamps is also prevalent in some cases, but most prefer embossed images. The reason being embossers can have personalized information, including the notary’s qualification and details. They also look more elegant and classy than their counterparts.
The use of embossers is also prevalent among architects for business. Such professionals need to get a registration from the state to practice their craft legally. The increase in the subscription of these embossers with personal details and the phrase ‘registered architect’ is propelling demand. The imprint is often in use by them on legal documents and drawings.
Another interesting trend growing is the use of custom embossing on wedding invitation envelopes by couples. This non-business world usage of the embossers helps provide a stylish and personal touch to their formal invitation.
Print Substrates to See a Continued Bad Phase
The decline of the graphics industry and the decrease in fabrication jobs will impact the print substrates market. There is a dip in volume across coated or uncoated mechanical, newsprint, and woodfree sects. Sadly, most of it will have a permanent impact.
Smithers report suggests the print substrate consumption will be down by 10.4% at 229.6 million tonnes in 2022 vis-à-vis 256.2 million tonnes in the pre-COVID 2019. The board and packaging film volumes will gain back their positive growth by 2025.
Many of the paper and pulp companies either repurposed or shut down their existing machines. This volatile market demands the creation of an equilibrium. The pulp supplies that are recovering will see short-term disruptions. Environmental regulations and brand owners will further hamper the market over the next decade.
Rising Platform Economy and Online Print Orders
The increased use of web-to-print solutions along with e-commerce will change the direct-to-consumer technology trend. The intermediaries will gradually decrease over time. According to the projections, the dependence on online ordering and specifications shall be 100% for both printed packaging and prints by 2030.
This phenomenon is motivating new investments in online ordering and web-to-print systems. It is driving the print purchase towards our platform economy system. Buyers have a higher chance to make both price and service comparisons.
Customer loyalty sees a dip, and therefore service gets more emphasis. The complementary model works best for e-commerce, with a faster turnaround for shorter orders like next-day delivery. Such a model ensures efficient automated and digital printing along with the adoption of smoother workflows.
It is also capable of accelerating the changeover to digital printing from analog print technology in various applications. It is particularly possible with the inclusion of the improvement in inkjet print quality.
So as you can see, the above trends are defining the web to print technology. Though it is not an exhaustive list, it can give you an idea about the emerging trends. Some players are finding lucrative options to get back revenue salvaged during the pandemic by installing printing presses at the distribution centers of large e-commerce.