Direct-to-Shape Inkjet Printers Set to Achieve US$ 4 Billion Valuation by 2034: Market Analysis and Growth Projections
The global market for direct-to-shape inkjet printers is poised for substantial growth, with a projected valuation of US$ 3.2 billion in 2024. According to industry forecasts, the market is expected to expand at a steady CAGR of 2.3% over the forecast period, reaching a valuation of US$ 4 billion by 2034.
Key Market Drivers:
Personalization Trends Driving Market Growth
Direct-to-shape inkjet printers are witnessing increased demand due to their ability to satisfy customer expectations for personalized items. By enabling printing directly onto containers, these printers offer enhanced customization options, which are becoming increasingly popular among consumers.
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Rising Demand for Customized Products
The growing demand for customized items, coupled with the need for products featuring intricate designs, is fueling the sales of direct-to-shape inkjet printers. These printers provide businesses with the flexibility to create unique and visually appealing products that stand out in the market.
Adoption of UV-curable ink Technology
The direct-to-shape inkjet printer industry is experiencing significant growth due to the widespread adoption of UV-curable ink technology. UV-curable ink offers several advantages, including improved print quality and durability, while also mitigating print quality degradation caused by exposure to UV radiation.
Market Outlook:
The anticipated expansion of the direct-to-shape inkjet printer market reflects the convergence of various factors, including the increasing demand for customized products, advancements in printing technology, and the adoption of UV-curable ink solutions. As businesses strive to meet evolving consumer preferences and market demands, the direct-to-shape inkjet printer market is poised for sustained growth in the coming years.
Future Market Insights (FMI) analysis underscores a prospective 1.9 times expansion during the forecast period, generating attractive investment avenues for manufacturers. The North American region is poised to lead the way, boasting a significant 27.1% industry share in 2022. FMI’s projections also indicate a promising 6.5% year-on-year growth between 2022 and 2023 in global consumption of direct-to-shape inkjet printers. Plastic substrates and solvent-based inks are expected to emerge as key drivers, further enhancing the market’s growth trajectory.
The superior blending of colors, high-quality printing, good printing speed, and compatibility with multiple substrate types such as glass, metal, and plastic among others, make DTS inkjet printers a far better choice than traditional printers. Additionally, DTS inkjet printers help in manufacturing cost reduction by eliminating the need for costly labels. DTS inkjet printers increase efficiency, reduce material expenses, elevate cost-effectiveness, can carry out mass customization, and have environmental benefits.
Growing demand for products with complex designs and customized goods also propels the sales of DTS inkjet printers in the global market. Furthermore, the use of UV curable inks, prevents print quality degradation due to exposure to UV rays, by direct-to-shape inkjet printers is expected to propel the market over the forecast period. All these factors are expected to expand the market for direct-to-shape inkjet printers during the forecast period.
Key Takeaways:
- Solvent-based ink type in the direct-to-shape inkjet printers industry is expected to register a CAGR of 9.6%
- Bottles will account for nearly 26.6% market share in the application category
- Direct-to-Shape inkjet printers account for 7.3% of the inkjet printers’ value of US$ 52.1 Bn.
- North America is estimated to dominate the industry with a share of 27.1% in 2022.
- East Asia’s direct-to-shape inkjet printer market will continue growing at a healthy rate of 8.8% market through 2032.
- South Asia will exhibit a robust CAGR of 9.6% over the forecast period.
- Europe is anticipated to record a 23.4% growth rate in the market through 2032.
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Growth Opportunities:
- Expanding Applications: Increasing demand for direct-to-shape printing in diverse industries such as packaging, automotive, and electronics presents a significant growth opportunity for inkjet printer manufacturers.
- Customization Trends: Growing consumer preference for personalized products and packaging is driving the need for customizable printing solutions, positioning direct-to-shape inkjet printers as key players in meeting this demand.
- Technological Advancements: Ongoing advancements in inkjet printing technologies, including higher resolution capabilities, faster printing speeds, and improved ink formulations, contribute to the market’s growth by enhancing overall performance and efficiency.
- Sustainability Focus: The shift towards sustainable practices and eco-friendly packaging is creating a demand for direct-to-shape inkjet printing solutions that use environmentally friendly inks and contribute to reduced waste in the printing process.
- Global Market Expansion: The increasing adoption of direct-to-shape inkjet printing technology in emerging markets, coupled with globalization trends, opens up new geographical markets and opportunities for industry players to expand their reach.
Innovation in Direct-to-Shape Inkjet Printers Industry:
- 3D Printing Integration: Innovations in direct-to-shape inkjet printers are integrating 3D printing capabilities, allowing for the creation of intricate three-dimensional designs on various surfaces, expanding the range of applications.
- Smart Printing Solutions: The integration of smart technologies, such as IoT-enabled printers and AI-driven print optimization, enhances efficiency, reduces errors, and provides predictive maintenance capabilities, contributing to the overall innovation in the market.
- Advanced Material Compatibility: Ongoing research and development efforts focus on expanding the range of printable materials, including specialized coatings and substrates, to broaden the scope of direct-to-shape printing applications and meet industry-specific needs.
- UV LED Curing Technology: The adoption of UV LED curing technology in direct-to-shape inkjet printers improves energy efficiency, reduces drying times, and enables printing on a wider range of substrates, fostering innovation in the printing process.
- Augmented Reality Integration: Innovations in direct-to-shape inkjet printers involve the incorporation of augmented reality (AR) technology to enhance consumer engagement by allowing interactive and immersive experiences through printed products, packaging, or labels.
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Direct-To-Shape Inkjet Printers Market By Category
By ink type:
- Solvent Based
- Water Based
- UV Curing Inks
By substrate type:
- Plastic
- Glass
- Metal
- Paper
- Fabric
- Wood
By application:
- Bottles
- Cans
- Drums
- Tubes
- Folding Cartons
- Others (Bags, Trays, etc.)
By end use:
- Food
- Beverages
- Pharmaceutical
- Cosmetics
- Personal Care & Homecare
- Chemical
- Others (Automotive, etc.)
By region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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