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Wide-format ink market growing

May 23, 2016

Faster growth is expected for the wide-format ink market.hp-pagewide-printhead1049-385x248

 

Market researcher Photizo Group, said that innovative markets motivated by changes in hardware will determine a faster growth in the wide-format ink market and will have a positive effect worldwide. In a report, Print Week said that a published report in April by Wide Format Ink Forecast Perspective showed figures that “demonstrate how the market is set to grow”. Ron Iversen, Photizo Group Vice President of Sales and Marketing, said, “Historically, the wide-format printer business from a hardware standpoint has been quite a slow low-growth market, but what is driving growth in the market is new developments in ink and in the media itself.” He also said that “media and ink now account for almost 80 percent of total revenue” and that new technology was also making a difference in sales. “What is also driving growth is new development in printhead platforms, a good example being HP’s PageWide technology. The speed of these wide-format printers will increase because of developments in printhead technology. These wide-format printers are now going to get into commercial production and take business away from the conventional presses. It means more ink, more media. It is a cycle.”

The report shows that HP was 2015 top world supplier of ink for wide-format with 41 percent of the $2.3 billion (€2) billion market. Canon showed 21 percent and Epson 19 percent followed by Roland with 3.4 percent and Mimaki 2.7 percent. Ink suppliers to the industry are projected to show a rise to $1.8 billion (€1.6 billion) by 2020. The inks were UV, latex, aqueous and eco-solvent, with “aqueous accounting for approximately 80 percent of market revenue in 2015, approximately $1.8 billion (€1.6 billion)”.

In 2015 approximately 4.8 million litres of ink was despatched world wide and is set to rise in 2020 to more than 6 million litres. The percentage of OEM ink was compared with the “aftermarket” ink world wide and then broken down into each region. The report found that older markets are more likely to buy a higher percentage of OEM cartridges. Iversen said, “The way it changes depending on where you are in the world is also interesting. If you look at more developed countries, they tend to stay with OEM ink, while in the less developed countries price is more sensitive and they are more likely to use a higher percentage of aftermarket ink because it is cheaper.”

Germany came out as the main supplier of ink in Western Europe, followed by the UK. The report said that 26 percent of the global wide-format market is from Western European revenue.

 

 

 

 

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