BCC Research estimates the global market for industrial inkjet printing hardware and consumables was valued at $1.5 billion in 2011 and $1.9 billion in 2012. By 2017, the market is projected to approach $7.4 billion after increasing at a compound annual growth rate (CAGR) of 30.8% since 2012.
Inks and other functional fluids accounted for nearly 70% of the industrial inkjet market in 2011 and 2012, a percentage that is expected to increase to more than 74% in 2017. Print heads and other printer hardware make up the remainder.
Analyses of the main segments of the industrial inkjet market include product decoration, electronics, medicine and life sciences, 3-D printing, and energy. Inkjet printing is beginning to have an impact on other types of applications, such as food flavorings and fragrances, chemicals, and optics, but the demand for inkjet hardware and consumables in these segments is too small to estimate reliably and is likely to have little impact on overall sales between 2011 and 2017.
Product decoration (textiles, ceramics, glass, wall and floor coverings, food, etc.) account for the bulk of the industrial inkjet market. Energy conversion and storage devices made up the second-largest segment in 2011, with 25% of the market, but this segment is expected to drop into third place by 2017, with 12% of the market. Electronic devices should be the second-largest application segment in 2017, with a 15% market share.
The Asia-Pacific region is the largest geographical market for industrial inkjet technologies. Between 2012 and 2017, Asia-Pacific’s share of the market should grow from 47% to 53%. Europe and North America are the second- and third-largest geographical markets, respectively, both with around 19% to 20% of the market in 2011 and 2012. By 2017, Europe’s share seems set to decline to 16%, while the North American share drops to 15%.
The market for inkjet printers in the textile industry could grow to as much as $750 million per year by 2020, driven primarily by the technology’s potential for reducing the time required to bring products to market. The market should grow from $170 million in 2011 to $217.6 million in 2012 and $747.7 million in 2017. BCC assumes that print heads will continue to represent about 10% of the cost of a typical inkjet print system.
Sales of inkjet inks for textile printing should grow at about the same rate as the production of inkjet printed fabrics. Production of inkjet fabrics is projected to grow at a CAGR of 35%, which implies that sales of inks should grow from $355 million in 2011 to $479.3 million in 2012 and more than $2.1 billion in 2017.
By 2017, BCC estimates that global production of inkjet printed laminates could grow to nearly 200 million square meters at a CAGR of approximately 35% between 2011 and 2017. This growth will be driven by increases in the numbers of new housing starts and residential renovations.
The objectives of Emerging Inkjet Printing Technologies, Applications and Global Markets (AVM091A) include:
• Identifying inkjet printing applications with the greatest commercial potential in the near to midterm (2011 to 2017)
• Analyzing the key drivers and constraints that will shape the market for these inkjet printing applications as the basis for projecting demand over the next five years
• Estimating current and future consumption of inkjet printing materials and other key enabling technologies
• Identifying the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances, or other advantages.