Asia Pacific Large Format Printer Market to Grow at Highest CAGR by 2025
The global large format printer market will be worth $11.2 Billion by 2025
According to a new research report by MarketsandMarkets, the large format printer market is projected to grow from US$9.3 billion in 2020 to US$11.2 billion by 2025; it is expected to grow at a CAGR of 3.8% from 2020 to 2025.
The report, titled "Large Format Printer Market by Offering (Printers, RIP software, Services), Ink Type (Aqueous, Solvent, UV Curable, Latex, Dye Sublimation), Printing Technology, Printing Material, Print Width, Application, and Geography - Global Forecast to 2025", further forecasted that the Asia-Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period.
The large format printer market in APAC is expected to grow at the highest CAGR during the forecast period. In APAC, large format printers are likely to be high in demand because of their growing use in graphics printing, apparel and textiles printing, and computer-aided design (CAD) and technical printing applications. APAC is considered as a growth engine for the global economy.
Countries such as Japan and South Korea are already developed economies, and China had been the fastest-growing economy in the world for the last two decades. Also, APAC produces a large amount of apparel and textiles, and this sector is expected to grow steadily in this region. Significant growth in the market for large format printers is likely to be observed in advertising and signage applications in India, mainly due to the booming economy.
The EFI Pro 32R+
For those looking to enter the large format market, the EFI Pro 32R+ is billed as an economical, production-level 3.2m-wide machine. The LED roll-to-roll printer can also facilitate printing on two 1.6m-wide rolls. Designed for high-quality print with mid-level production, the Pro 32r+ prints up to 256 square meters per hour with resolutions up to 847 true dpi.
Target applications include banners, billboards, building wraps, flags, floor graphics, POP graphics, posters, textiles, signage, wall graphics and wallpaper. The printer uses Gen-5 printheads with four colours plus optional white ink and 7-picoliter EFI UltraDrop Technology. Its proven, “cool cure” LED imaging technology drives down operating costs.
Key Market Drivers
Key factors fuelling the growth of this market include increasing demand for large format printing in the textiles, advertising, and packaging industries; rising adoption of UV curable inks in outdoor advertising, CAD, and technical printing applications; and the growing importance of digital document production in commercial printing applications.
The increasing demand for large format printers for home furnishing & decor and vehicle wrap applications, the rising requirement for large format printing from the in-plant market, as well as the availability of varieties of large format printers with a varied price range, are creating tremendous growth opportunities for the players in the large format printer market.
Décor applications is especially highlighted to grow at a high CAGR. Decor is high-volume, open-edition art printing and custom imaging used for decoration. Decor is a lucrative, fast-growing segment of the large format printer market. Decor applications include wallcoverings and photo murals, canvases, wall decals, window covering, professional photography, and fine art and decoration.
1.6m and Inkjet Printers projected to grow at a high CAGR
The market for large format printers with a print width ranging from 60" to 70" (about 1.5m to 1.8m) is expected to grow at the highest CAGR during the forecast period. These printers are mostly used in large-scale commercial applications, such as banners, large vehicle graphics, and advertisements. They offer an output with great details and high quality.
Ink-based (inkjet) printers are also projected to grow at a high CAGR. Inkjet printer manufacturers have started providing faster inkjet printers with reduced running costs for large format printing, which has led to the widespread adoption of inkjet printers in this industry. The reason behind the decreasing demand for the toner-based printer is the replacement of these printers with inkjet printers due to their benefits such as low cost and low maintenance.
Canon Oce Colorado 1650
The Canon Océ Colorado 1650 printer is 1.6m wide roll-to-roll device that prints resolutions of 1,800dpi at up to 159sqm/hr. The Océ Colorado 1650 features two innovations in the form of a new Canon UVgel flexible ink, and Océ FLXfinish technology. The Océ Colorado 1650 is aimed at print service providers (PSPs) that are producing high volumes of large format applications, such as self-adhesive vinyls, wall coverings, canvasses, soft signage and vehicle graphics that require a high degree of flexibility for mounting and framing.
The Océ Colorado 1650 incorporates Canon’s Océ FLXfinish technology, a new approach to LED curing which allows the user to choose between matte or gloss modes for each individual print without changing inks or paper. In addition, the Océ Colorado 1650 works with a new version of Canon UVgel ink. The ink is designed for maximum flexibility by increasing the ‘stretchability’ of each cured ink droplet. This results in output optimal for applications that require cutting, bending, creasing and folding without risk of cracking, such as in soft signage.
First published in Issue 07/2020 of Print Innovation Asia.