Zink Printing Market Outlook – 2030
The global zink printing market was valued at $0.75 billion in 2020, and is projected to reach $1.02 billion by 2030, registering a CAGR of 3.2% from 2021 to 2030. Zink printing technology produces colorful images without any ink cartridges, toners, or ribbons. Colors show up on the zink paper with the help of thermal paper. Major advantage of zink printing over conventional printing is that the printing technique is rapid. It is widely in different industries, such as food & beverage, pharmaceutical, retail, and paper & printing.
The growth of the global zink printing market is anticipated to be driven by factors such as increase in usage of instant cameras, rise in number of automated teller machines (ATMs), expansion of the retail sector, and rise in need of point-of-sale (POS) thermal receipts. In addition, user-friendly interface, low maintenance cost, and development of the packaging & printing industries boost the overall market growth. However, high cost of the zink based paper acts as a major restraint for the global zink printing industry. On the contrary, rapid expansion of pharmaceutical and food & beverage sector is expected to create lucrative opportunities for the market.
The global zink printing market is segmented on the basis of component, functionality, connectivity, application, and region. By component, the market is classified into zink based paper and zink based printer. Depending on functionality, it is categorized into compact photo printer and camera photo printer. On the basis of connectivity, it is fragmented into Bluetooth, near-field communications, and others. The applications covered in the study include home and commercial.
Zink-Based Printer segment will dominate the market by the end of 2030 at a CAGR of 4.2%
Region wise, the zink printing market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominated the market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the commercial sector. However, Asia-Pacific is expected to witnesses significant growth by the end of the forecast period, followed by LAMEA.
Camera Photo Printer segment will generate the highest revenue by the end of 2030
Leading zink printing market manufacturers such as HP Inc., Brother Industries, Ltd., and Eastman Kodak Company are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Top Impacting Factors
Prominent factors that impact the zink printing market growth are surge in demand for sustainable printing and rise in uses of mobile printers based on wireless technologies. In addition, surge in demand for high-speed, high-quality, and cost-effective printing solutions drives the zink printing market. However, growth in online and paperless e-transactions restricts the market growth. On the contrary, high demand from Asia-Pacific is expected to create lucrative opportunities for the market.
Near-Field Communication (NFC) segment will grow at a highest CAGR of 4.6% during 2021 - 2030
Competitive analysis and profiles of the major market players such as Brother Industries Ltd., Canon, Dell, Eastman Kodak Company, HP Inc., LG Electronics, Lifeprint, Polaroid, PRYNT, and ZINK Holdings LLC have been covered in the report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Commercial segment will secure the leading position during the forecast period
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in first quarter of 2022. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among customers.
Asian and European countries under lockdown have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the zink printing market.
In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, boost demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which hinder the market growth.
Asia-Pacific region would exhibit the highest CAGR of 5.6% during 2021 - 2030
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global zink printing market size along with current trends and future estimations to depict imminent investment pockets.
- The overall zink printing market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current zink printing market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- The Porter’s five forces analysis illustrates the potency of the buyers and the zink printing market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Zink Printing Market Report Highlights
By Key Market Players
The global zink printing market is flourishing at a rapid pace. However, high cost of Zink-based paper is still a concern for new entrants. Market players are generously investing in R&D activities to develop improved solutions to reduce overall costs of Zink-based paper. In addition, according to industry experts, it is essential to optimize affordable prices for zink printing products for long-term growth.
The growth of the global zink printing market is majorly attributed to increase in usage of instant cameras, rise in installation of automated teller machines (ATMs), expansion of the retail sector, and surge in need of POS thermal receipts. In addition, user-friendly interface, low maintenance cost, and development of the packaging & printing industry notably contribute toward the overall market growth. However, high cost of Zink-based paper acts as a major restraint of the global zink printing industry. On the contrary, rapid expansion of pharmaceutical and food & beverage sectors is expected to create lucrative opportunities for the zink printing market.
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Collaboration and product launches are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region. However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of zink printing in a variety of fields.