Hybrid Printing Market Size, Companies, Industry Trends

Updated on : Oct 22, 2024

Hybrid Printing Market Size & Growth

The global hybrid printing market size was valued at USD 5.5 billion in 2023 and is estimated to reach USD 10.2 billion by 2028, growing at a CAGR of 13.2% during the forecast period 2023 to 2028. The growth of the market is driven by increasing demand for short-run printing, the proliferation of high-quality printing in packaging and labeling applications, and the growing adoption of personalized printing material.

Hybrid Printing Market Forecast to 2028

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Hybrid Printing Market Dynamics:

Drivers: Rising demand for personalized printed material

The rising demand for personalized printing materials is set to drive the growth of the hybrid printing industry, a powerful solution that combines digital and traditional printing technologies. This demand acts as a driving factor for hybrid printing by fuelling the need for customized and unique printed products.

Hybrid printing allows businesses to seamlessly integrate variable data and design flexibility with the efficiency and cost-effectiveness of traditional printing methods, catering to the growing demand for personalized materials. The advantages of the increasing demand for personalized printing materials are manifold. Primarily, it enables businesses to enhance their brand presence by offering tailored and captivating printed materials that resonate with their target audience.

Restraint: Operational complexities and need of skilled operators.

The complexity of operation poses a significant challenge and acts as a restraining factor for hybrid printing. Hybrid printing involves intricate workflows, integration of different printing technologies, and the need for skilled operators to efficiently manage and troubleshoot various aspects of the printing process.

This complexity can lead to operational inefficiencies, increased setup time, and potential errors, hindering the adoption and implementation of hybrid printing solutions. One of the major loopholes in managing the complexity of operation in hybrid printing is the need for seamless integration between digital and traditional printing technologies. Ensuring compatibility between different equipment, software, and workflows can be complex, requiring technical expertise and investment in interoperability solutions.

Opportunities: Expanding e-commerce market

The growth of the e-commerce market is creating new opportunities for hybrid printing providers. E-commerce retailers need to be able to print high-quality labels and packaging quickly and cost-effectively, and hybrid printing is a good solution for this.

One of the key advantages of hybrid printing is its ability to offer customization and personalization at scale. E-commerce businesses thrive on delivering personalized experiences to consumers, and hybrid printing allows them to create tailored packaging, labels, and promotional materials that resonate with individual customers. This capability enhances brand loyalty and enables e-commerce companies to stand out in a crowded marketplace.

Challenge: Need for specialized training and expertise.

Operators of hybrid printing presses must possess comprehensive knowledge of both digital and traditional printing methods to ensure the production of high-quality prints. The demand for specialized training and expertise in hybrid printing poses hurdles for the industry players due to the limited availability of training programs and associated costs, hindering the widespread adoption of hybrid printing and its potential benefits.

Hybrid Printing Ecosystem

Hybrid Printing Market Share

UV Inkjet Printing segment to hold larger market share during the forecast period.

UV inkjet printing produces high-quality prints with precise details and vivid colors. This is because the UV light instantaneously dries the ink, preventing it from spreading or smearing. Fast printing techniques like UV inkjet printing can aid in cutting down on manufacturing costs and time. This is crucial for businesses that need to print numerous products fast.

Many substrates, including paper, plastic, metal, and glass, are suitable for UV inkjet printing. This makes it a flexible printing method that may be applied to various products. Prints made with UV inkjet technology are robust and scratch- and fade-resistant. Therefore, UV inkjet printing is highly adopted for products that are handled frequently or exposed to the environment. UV inkjet printing is also used in various other applications, such as textiles, wood, and glass printing.

Paper substrate segment account for the largest share of the hybrid printing market for during the forecast period

Hybrid printing on paper-based substrates is widely used in packaging applications, including folding cartons, corrugated boxes, bags, and pouches. It allows to create attractive and informative packaging designs, product branding, and label printing for various industries such as food & beverage, cosmetic, pharmaceutical, and consumer goods. Hybrid printing enables the production of high-quality marketing and promotional materials on paper substrates.

This includes brochures, catalogs, flyers, direct mailers, and posters. The combination of digital and analog printing technologies allows for eye-catching graphics, personalized messages, and variable data, enhancing the effectiveness of marketing campaigns. Hybrid printing on paper-based substrates is utilized in security printing applications, such as banknotes, passports, identity cards, and secure documents. The combination of analog and digital printing techniques allows for intricate designs, complex security features, and variable data, ensuring the integrity and authenticity of printed materials.

Packaging printing segment to exhibit the largest share in terms of hybrid printing market during the forecast period

Packaging printing is making significant contributions to the pharmaceutical industry in various aspects. It aids in compliance by printing essential drug information to meet regulations. Additionally, they enhance security by incorporating features that deter counterfeiting, such as holograms and microprinting. Moreover, packaging printing supports branding through eye-catching graphics and colors, providing consumers with crucial product information and marketing messages.

Leading pharmaceutical companies utilize packaging printing to create interactive features such as clear & personalized labels, enhanced security, and sustainable solutions for their medications. Several leading pharmaceutical companies, such as Pfizer (US), Novartis (Switzerland), Sanofi (France), AbbVie (US), and Johnson & Johnson (US), are utilizing hybrid printing, which combines digital and analog methods to create personalized, eco-friendly, and secure packaging for their drugs.

Hybrid Printing Market Regional Analysis

Hybrid Printing market in Asia Pacific estimated to grow at the fastest rate during the forecast period.

The cosmetic industry in the Asia Pacific region is growing due to the rise in the number of working women, increased spending of masses on cosmetic products, and an increase in the young population in the region. This industry is expected to contribute significantly to the growth of the market. Increasing population, improving standards of living, increasing self-care awareness, and rising e-commerce activities have led to increased demand for cosmetic products in this region.

The emerging economies of China and India are high-growth markets for skincare, haircare, and makeup products, supported by the economic growth in these countries and increased consumer spending on cosmetic products. All these factors are expected to drive the growth of the Asia Pacific cosmetics, beauty & personal care market, thus driving the demand for hybrid printing.

Hybrid Printing Market by Region

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Key Market Players in Hybrid Printing Industry

Major vendors in the hybrid printing companies include FUJIFILM Holdings Corporation (Japan), HP Development Company, L.P (US), Ricoh (Japan), Konica Minolta (Japan), Bobst (Switzerland), Electronics For Imaging, Inc. (US), Seiko Epson (Japan), Koenig & Bauer AG (Germany), Heidelberger Druckmaschinen AG (Germany), among others. Apart from this, Kento Digital Printing (Spain), KTK (Spain), The M&R Companies (US), Floraprinter (China), JETSCI (India), and Xeikon (Netherlands) are among a few emerging companies in the hybrid printing market.

Recent Developments in Hybrid Printing Industry

• In March 2023, Durst Group AG (Italy) launched Durst Tau 330 RSC-E, a high-performance hybrid printing system that combines digital inkjet printing with screen printing. It is designed for printing on a wide range of materials, including textiles, ceramics, and glass. This is used to print high-quality, variable data labels for a variety of applications, including food and beverage, pharmaceutical, and industrial.
• In January 2023, Konica Minolta (Japan) launched AccurioLabel 400, a dynamic digital label press that presents compelling features for swift, high-quality label production. With speeds reaching 39.9 meters per minute and 1200 dpi resolution, it accommodates various media, including film and foil, and supports white toner for opacity. Enhanced by an integrated color management system and automated media handling, it's an ideal solution for efficient, top-notch label printing across diverse applications.
• In November 2022, Konica Minolta (Japan) and Agfa-Gevaert Group (Belgium) announced their partnership to distribute Anapurna inkjet printers across Norway, Denmark, and Sweden. This amplifies the wide-format printing market presence in the Nordic region, offering enhanced value and technology to customers.

Frequently Asked Questions (FAQs)

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