December 22, 2015
The report from Transparency Market Research, shared by Industry Today, notes that the global market was worth around $2.91 billion (€2.66 billion) in 2013 and will be worth around $4.33 billion (€3.95 billion) by 2020, growing at a CAGR (compound annual growth rate) of 5.8 percent from 2014 to 2020, while global demand in 2013 stood at 216 kilo tonnes.
The analysts noted that the market is set to be “augmented by [a] surge in commercial applications” by 2020, as toners have “long since evolved from using carbon-based powders to using speciality polymers and blends of polyester and styrene-acrylic”, and digital printing has helped develop it “in leaps and bounds” on a “global scale”. Digital printing in particular has commercial packaging functions, including labels, and is helping the market “post robust figures”.
Another trend is the use of bio-based toners, which are “picking up pace among vendors” with “new opportunities for growth”, though the analysts warned that toners “bring with them a significantly adverse impact on the environment” that necessitates “strict government regulations”. One further growth area is expected to be chemically-produced toners, even though conventional toners dominated in 2013 with a 70 percent share of the market.
Despite conventional toners being compatible “with almost every kind of printer”, chemically-produced toners “have proven to be compatible with economical printers” alongside “excellent efficiency in various technical aspects”, allowing for faster printing. All of this, the analysts believe, mean that “demand for chemically-prepared toners is projected to surpass that of conventional printing toners”.
Colour toner is the largest segment thanks to becoming “considerably cheaper” recently, and is expected to see a CAGR of around 3.5 percent from 2014 to 2020. Polyester and styrene-acrylic toners have also witnessed “increased demand”, accounting for 95 percent of the revenue and volume in the market in 2013, and are “projected to retain their leading position in the years to come” thanks to “easy availability and low cost” of raw materials.
Internationally, Europe and North America “dominate” the market in revenue, but Transparency Market Research believes that the Asia Pacific and the rest of the world are “set to emerge as strong contenders”, mostly due to a “surge in printing toner applications” and a “rise in the number of manufacturing units”. The Asia Pacific market alone is expected to generate revenue of $1.16 billion (€1.06 billion) by 2020, challenging Europe and North America’s 65 percent share of the world market.
Categories : City News