Global Printing Market Trends – 2024
The global printing market is currently in a period of transformation, adapting to new realities.
Although digitalization might suggest stagnation or decline in this sector, expert forecasts anticipate modest growth. Below, we explore the factors and key trends shaping the printing industry worldwide.
Key Indicators in the Global Printing Market
Analyzing market statistics helps illustrate the global printing industry's scale. Smithers Consulting projects that by the end of 2024, the printing market will reach a value of $874 billion, up from approximately $818 billion in 2019—marking an annual growth rate of 1.3%.
The annual print volume remained steady from 2019 to 2024 at around 49.5 trillion A4 sheets or equivalent. This stability results from a market balance: while print volumes have declined in developed nations, they are rising in developing countries. Asia leads with seven rapidly growing print markets, followed by three in Latin America and Europe each, and two in the Middle East.
Primary Trends in the Global Printing Market
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Digitalization: A key trend in printing is digitalization, transforming every stage of production from customer interaction to product creation. Far from a passing trend, digital solutions improve efficiency, product quality, and cost-effectiveness. Process automation, for example, reduces production times, improves quality, minimizes waste, and boosts productivity. Digital management solutions also enhance operational transparency and flexibility, especially valuable with the rise of hybrid work models.
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AI and Machine Learning: The integration of AI and machine learning is expected to intensify in 2024. A Quocirca survey revealed that over half of industry players plan to increase their investments in AI. However, this trend will require advancements in data security and information accuracy to be fully effective.
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Shifting Demand: Demand for printed products is changing. While demand for advertising and periodicals (newspapers, catalogs, directories, magazines) is decreasing, demand for packaging and labels is steadily increasing, driving changes in equipment production and sales. Additionally, demand for 3D printing continues to grow, supported by competition in the advertising sector. This trend is also notable in markets like Russia.
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Environmental Impact: Growing environmental awareness is prompting companies in the printing industry to adopt "green" practices. Many are now using recycled materials and implementing programs to offset environmental impact. This trend also emphasizes the use of eco-friendly technologies, reduced emissions, and energy-efficient resource management.
Strategies for Market Players
For businesses to thrive in a rapidly evolving printing market, staying aligned with industry trends and fostering strong partnerships are crucial. Companies that successfully adapt and build relationships with major packaging and labeling clients (notably in the FMCG sector) are well-positioned.
Participating in industry events, such as the Printech International Exhibition for Printing and Advertising Production, provides a valuable opportunity to network and explore new business prospects. In 2024, attendance at Printech increased by 2% to 2,486 specialists, affirming its relevance for industry stakeholders.
For companies producing or supplying printing equipment and materials, participation in the 10th Printech International Exhibition could be an effective way to showcase products, expand partnerships, and increase market reach.
