Market Summary: The global printing toners market boasted a total value of USD 4.96 billion in 2023 and is projected to exhibit a robust compound annual growth rate (CAGR) of 6.2% during the forecast period. This growth is primarily attributed to the increasing preference for environmentally-friendly toners and the escalating demand for printing toners across various sectors, with a particular emphasis on the packaging sector. Furthermore, a surge in Research & Development (R&D) activities geared towards enhancing printing solutions and processes is a significant driver for the market’s revenue expansion.
Printing toners find applications in diverse sectors such as healthcare, pharmaceuticals, food & beverage, cosmetics, and more. Consumers are showing a growing environmental consciousness, leading to a preference for eco-friendly inks and toners. As a response to this trend, companies are designing products that align with consumer preferences. For instance, on October 27, 2021, INX International Ink Co. introduced its INXhrc RC product line, featuring Ultraviolet (UV) and Light Emitting Diode (LED) curable inks known for their high performance and use of clean, renewable, and sustainable chemicals. These inks comply with Nestle standards and are intended for printing on hard and non-porous plastics, as well as many ornamental plastic and foam-based packaging materials.
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Additionally, ongoing Research & Development (R&D) endeavors by major companies are leading to the development of alternatives to conventional printing toners and inks, which are expected to further boost market revenue. As an example, soy toner, also referred to as soybean toner, was recently introduced for use across a significant facility like Ohio State University, initially employed by about 700 printers. These soy-based toners have been developed with the backing of the Ohio Soybean Council and are crafted from soy toner powder.
Market Dynamics: Driving Factors: The increasing demand for sustainable printing inks and toners, along with technological advancements, is being fueled by environmentally-conscious consumers. Companies are actively engaging in R&D activities to introduce innovative, sustainable product lines to meet consumer demands. For instance, on July 27, 2022, Inkcups launched the GN Series pad Printing Ink, which is an eco-friendly ink suitable for various substrates, including plastics, metals, wood, apparel, and more. It is also compliant with the European Printing Ink Association (EUPIA) Ordinance on Materials and Articles to be Used in Food and Beverage Packaging.
Moreover, companies are incorporating advanced technologies into their printing solutions, which is expected to drive market revenue growth. For instance, on August 25, 2022, HP Inc. unveiled HP Instant Ink for small businesses, offering automatic delivery of device-specific consumables for various devices at multiple locations with a single Instant Ink account. This, in conjunction with the new LaserJet Pro with HP+, is poised to save small businesses time and money while promoting cartridge recycling and global forest conservation.
Restraining Factors: Increasing government regulations concerning Volatile Organic Compounds (VOC) emissions and the implementation of paper-saving legislation are posing challenges to the market. Governments are enacting regulations to reduce the environmental impact of VOC emissions from various sectors, including food & pharmaceuticals, through strict guidelines and restrictions. For instance, the European Commission (EU) has implemented a VOC Solvents Emissions Directive, which sets limits for gas emissions and imposes strict values for VOCs in waste gases to reduce emissions and minimize environmental harm.
The global environmental degradation rate is on the rise, prompting authorities to take measures to reduce paper usage. The U.S. Environmental Protection Agency (EPA) has enacted the Paperwork Reduction Act (PRA) to decrease the volume of paperwork generated by federal, state, and local governments, businesses, and organizations, thereby reducing the usage of paper and promoting the trend of digital payments.
Key Insights: Raw Material Perspective: The global printing toners market can be segmented based on raw materials, including Polyester, Styrene acrylic, and others. Polyester-based toners are expected to dominate the market due to their vibrant prints, eco-friendly characteristics, ease of disposal, and non-drying properties, which set them apart from other inks that tend to absorb into printing surfaces.
Production Technology Outlook: The market can also be categorized by production technology into conventional toner and chemically prepared toner. Conventional toner is projected to maintain steady revenue growth due to its widespread applicability, cost-effectiveness, color accuracy, and compatibility with printers featuring heating elements and fusers.
End-Use Perspective: Based on end-use, the global printing toners market encompasses packaging, Fast Moving Consumer Goods (FMCG), printing and stationery, advertising and branding, and others. The packaging sector is expected to hold a significant share of revenue, as it is extensively utilized in various industries, including food & beverages, transport, cosmetics, and more.
Regional Analysis: In 2022, North America accounted for the largest share of the global printing toners market, driven by industrialization, digitalization, and the incorporation of advanced printing technologies. Europe is anticipated to register the fastest revenue growth, buoyed by a surging demand for advanced printing solutions, environmental awareness, and technological advancements. The Asia Pacific market is projected to contribute substantially to the global market revenue due to rapid commercialization, the adoption of innovative printing solutions, and increasing environmental consciousness among consumers.
Competitive Landscape: The global printing toners market features a fragmented and highly competitive landscape with numerous players operating at global and regional levels. Key players are expanding their portfolios, investing in R&D, and forming strategic alliances to expand their market presence. Partnerships, collaborations, mergers, acquisitions, product launches, and investments are some of the growth strategies used by leading companies. Smaller businesses are differentiating themselves by offering unique products, while startups are introducing innovations to gain a foothold in the market. Major companies in the market include ACM Technologies, Inc., Samsung, AstroNova, Inc., Xerox Corporation, Canon Inc., and more.
Segments Covered in the Report: The report provides historical data and forecasts for revenue growth at the global, regional, and country levels. It offers an analysis of market trends within various segments, sub-segments, regions, and countries from 2019 to 2032. The global printing toners market is segmented based on raw materials, application, production technology, packaging type, end-use, and region.
Market Report Scope:
- Market Size in 2022: USD 4.66 Billion
- CAGR (2022 – 2032): 6.2%
- Revenue Forecast in 2032: USD 8.54 Billion
- Base Year for Estimation: 2022
- Historical Data: 2020-2021
- Forecast Period: 2022-2032
- Quantitative Units: Revenue in USD Billion
- CAGR from 2022 to 2032
- Report Coverage: Revenue forecast, company rankings, competitive landscape, growth factors, and trends
- Segments Covered: By Raw Material Outlook, Application Outlook, Production Technology Outlook, Packaging Type Outlook, End-use Outlook, Regional Outlook
- Regional Scope: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
- Country Scope: U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, Turkey
- Key Companies Profiled: ACM Technologies, Inc., Samsung, AstroNova, Inc., Xerox
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