by Market Overview:
Commercial printing is the business of printing books, magazines, greeting cards, business cards, brochures, stationery, packaging, labels, and other commercial materials on a digital or offset printing press. The commercial printing industry offers services such as prepress preparation, digital and offset printing, finishings, and distribution. Products are printed using various technologies including offset lithography, flexography, screen printing, digital printing and others. The commercial printing industry provides businesses easy and efficient ways to print marketing collateral, packaging, documents and other commercial prints as per their requirements.
Market Dynamics:
One of the key drivers for the commercial printing market is growing demand from packaging industry. The packaging industry has witnessed strong growth in recent years driven by rising e-commerce activities across the globe. According to statistics, e-commerce sales worldwide amounted to $25.6 trillion in 2019 and is expected to grow exponentially in coming years. This has boosted demand for packaging such as cartons, boxes, sleeves, labels etc. which are printed using various commercial printing technologies. Another driver for the market is rising demand from event management industry. Commercial printers are increasingly offering large format printing solutions like banners, backdrops, signage etc. to support various corporate and promotional events, exhibitions and conferences. This is fueled by growing B2B and B2C events worldwide. Some key players operating in the global commercial printing market include ACME Printing, Cenveo Corporation, R.R. Donnelley & Sons, Vistaprint (CIM PRESS PLC), Toppan Co Limited, Transcontinental Inc., and LSC Communications US LLC among others.
Segment Analysis
The commercial printing market is segmented based on printing technology which includes offset lithography, digital printing, flexography, screen printing and gravure. Among these, offset lithography accounts for the largest market share as it provides high-quality and cost-effective printing solutions for large print volumes. Offset lithography uses plates which have the printed image transferred onto it. These plates are then used for printing on various substrates like paper, plastic, and metals. Given the ability to print high-quality images on different materials at low costs, offset lithography dominates the commercial printing market.
The global Commercial Printing Market Demand is estimated to be valued at US$ 451.98 Bn in 2023 and is expected to exhibit a CAGR of 1.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
PEST Analysis
Political: Government regulations around environmental protection encourage use of eco-friendly printing technologies like digital printing reducing waste generation.
Economic: Large corporate advertising budgets and revival of global economy driving demand for commercial print products. Inflation impacting paper and ink costs slightly challenging market.
Social: Growth in e-commerce driving need for package/label printing. Changing communication styles increasing short-run digital printing needs.
Technological: Advances in digital printing improving capabilities to rival offset while reducing costs. Technologies like automation streamlining operations and improving productivity.
Key Takeaways
The global commercial printing market is expected to witness moderate growth, exhibiting CAGR of 1.7% over the forecast period, due to increasing demand for short-run print products driven by e-commerce and customization needs.
The North America region currently dominates the commercial printing market and is expected to continue its dominance over the forecast period. This can be attributed to strong presence of key players and brands outsourcing printing needs to the region. Steady economic growth recovering from pandemic impact also supports continued printing demand.
Key players operating in the commercial printing market are ACME Printing, Cenveo Corporation, R.R. Donnelley & Sons, Vistaprint (CIM PRESS PLC), Toppan Co Limited, Transcontinental Inc., and LSC Communications US LLC. These players are focusing on expanding their digital and specialty printing capabilities through investments and acquisitions to cater to increasing demand for variable and short-run print jobs from different end-use industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
