USD 3.03 bn growth in Printing Toners Market | 17,000+ Technavio Reports
NEW YORK, Dec. 10, 2021 /PRNewswire/ -- The printing toners market size will grow by USD 3.03 billion between 2020 and 2025 as per the latest market outlook report by Technavio. The report also identifies the market to witness a decelerating growth momentum at a CAGR of 5.71% during this period. The printing toners market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.
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Printing Toners Market Segment Highlights
Technavio analyzes the market by Product (monochrome printing toners and color printing toners) and Geography (APAC, North America, Europe, South America, and MEA). The monochrome printing toners segment held the largest market share in 2020 and will continue to dominate the market during the forecast period. The growth of this segment can be attributed to their wide use and applications owing to their cost-efficiency and ease of accessibility compared to link cartridges. Monochrome toner printers use only one color for printing. These toners are being used globally because of their higher printing efficiency and accuracy than color printers.
In terms of Geography, APAC was the largest revenue-generating segment of printing toners market in 2020. The region is witnessing growth in industrialization, the packaging industry, and the need for individual printers that utilize printing toners. Countries such as Japan, China, and India are the key consumers of printing toners. Factors such as rising disposable incomes, growing industrialization, and surging growth of the packaging industry are fuelling regional growth. Furthermore, the continuous launches of various innovative products by companies including Epson, Panasonic Corp. (Panasonic), Canon, and Toshiba in the emerging economies of the region including India and China will also boost the market's growth during the forecast period.
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Printing Toners Market Driver and Challenge Highlights
The increased adoption of printers for various applications is notably driving the printing toners market growth. Printers are widely used in product packaging, publishing, and advertising, and branding industries. The packaging industry uses small-scale or large-scale printers based on the type and size of the products and beverages. In addition, educational institutions are also extensively using printers for various purposes, such as printing books, catalogs, projects, and research papers. The diversified applications of printing toners are expected to influence the market growth positively during the forecast period. Furthermore, factors such as low cost of printing toners compared with inkjet cartridges and increase in online sales of printing toners will further fuel the market's growth during the forecast period.
The long-term exposure and improper handling of printing toners leading to adverse health effects is one of the key factors that may impede the market's growth during the forecast period. Printing toners comprise lightweight dust-like ink particles, and when inhaled, these particles can cause various health issues such as respiratory problems, skin diseases, eye problems, and cancer. In addition, exposure to a high level of ozone causes various health problems such as nausea, headache, dermatitis, throat infection, lung infection, and eye irritation. In addition, other factors such as environmental concerns associated with manufacturing and disposal of printing toners and threat from counterfeit products are also likely to limit the market's growth during the forecast period.
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Printing Toners Market Scope
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Printing Toners Market Sizing
Printing Toners Market Forecast
Printing Toners Market Analysis
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Printing Toners Market Vendor Highlights
The printing toners market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Market vendors are focusing more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. Companies are engaging in new product launches and strategic partnerships to strengthen their foothold in the market. For instance, In June 2021, HP Inc. launched its lightest consumer laptop yet, HP Pavilion Aero 13 Laptop PC. Similarly, in July 2020, Xerox Holding Corp. announced its new Xerox AltaLink C8100 and Xerox AltaLink B8100 Series multi-function printers (MFPs) that can better support today's flexible work environment and help companies speed their digital transformation with access to the ConnectKey ecosystem of apps.
Some Companies Mentioned
- AstroNova Inc.
- Canon Inc.
- HP Inc.
- IMEX Co. Ltd.
- Konica Minolta Inc.
- Lexmark International Inc.
- Panasonic Corp.
- Seiko Epson Corp.
- Toshiba Corp.
- Xerox Holdings Corp.
Personalize this report with Competitive Benchmarking and Vendor Analysis by Speaking to our Analysts.
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Printing Toners Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Decelerate at a CAGR of 5.71% |
Market growth 2021-2025 | $ 3.03 billion |
Market structure | Fragmented |
YoY growth (%) | 8.76 |
Regional analysis | APAC, North America, Europe, South America, and MEA |
Performing market contribution | APAC at 42% |
Key consumer countries | US, China, India, Japan, and Mexico |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | AstroNova Inc., Canon Inc., HP Inc., IMEX Co. Ltd., Konica Minolta Inc., Lexmark International Inc., Panasonic Corp., Seiko Epson Corp., Toshiba Corp., and Xerox Holdings Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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