The global inkjet printing market is generally on the rise. Smithers Pira, the global packaging, paper and printing supply chain authority, recently released a report saying that the global inkjet market will grow at an annual rate of about 0.8%, which will grow at a rate of 9.4% year-on-year. It is expected to reach $109 billion by 2023.
The analysis pointed out that the total value of inkjet printing for graphics and packaging in 2018 will reach $69.6 billion. In terms of paper, the total print volume is equivalent to 74.9 billion sheets of A4 paper, consuming about 103,700 tons of ink. In this process, end users will need to spend $8.7 billion, and the new inkjet device market will reach $3.6 billion.
Dr. Sean Smyth, consultant for Smithers Pira's printing division, pointed out in the report that the economy and reliability of inkjet printing is increasing due to the industry's investment in printheads, machinery, inks, drying systems and related software facilities. The advantage of inkjet printing is the ability to print multiple types of products at high quality and speed, and to save costs, which is an important reason for the growth of the inkjet market.