Ink and Toner Market Size, Share, Growth and Industry Analysis by Type (Dye Ink, And, Pigment Ink) By Application (Packaging, Publication and Commercial Printing, And Others (Including Decorative Printing, Etc.), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Ink And Toner Market Report Overview

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The global ink and toner market size is anticipated to be worth USD 31620 million in 2021 and is projected to touch USD 35568.2 million by 2031 with a CAGR of 4.0% during the forecast period.

An ink toner or a toner cartridge is a part or component of the laser printer. It has a lot of components like toner powder, carbon, dry mixture of plastic particles and other materials. This product has a great market scope during the forecast period.

Day by day new innovations and changes are being witnessed in the market. The development of the market can be attributed to these changes and innovations. New trends are latest development in the industry. The increasing penetration of PCs, and cartridges globally has given a good scope to the industry. Also, the rising shipment of the inkjet printers has been a recent development. This can be identified as the latest trend in the market.

Many factors have contributed to the robust development of the product over the past few decades. Ink tank printers are used in many places and their increasing usage has positively impacted the ink and toner market as they are an integral component of the above market. All these factors have resulted in the global ink and toner market growth.

COVID-19 impact: Decline in the Demand for the Product Reduced the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

During the pandemic of COVID-19, the demand for the global ink and toner market reduced. A lot of reasons could have contributed to this. The major one being the steep decrease in the customer base for the market. As many industries shut down the usage of ink and toners reduced.

Also, the introduction of many new technologies among printers made the use of ink and toners less applicable. A lot of raw materials required by the ink and toners market were not available easily. With growing literacy, the circulation of books, printouts, magazines are increasing among students at a very fast rate. All of this collectively resulted in the deterioration of the global ink and toner market share.

LATEST TRENDS

"Integration of Ink and Toners in Electronics to Increase the Market Growth"

The industry is characterized with many new changes and developments. Ink and toners have a very vast application in various fields and industries. They are now being implemented in industries such as electronics, and printing.

The increasing penetration of PCs, and cartridges globally has given a good scope to the industry. Also, the rising shipment of the inkjet printers has been a recent development. The variety in the product has been one such development that has increased the global industrial market share and has also driven the growth of the industry.

Ink And Toner Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

Dye Ink, and, pigment Ink. The dye ink segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Packaging,       publication and commercial  printing, and Others (Including decorative printing, etc.). The packaging segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Increasing Usage of Ink Tank Printers to Fasten the Market Growth"

During the pandemic, there was a slight downfall in the ink and toner industry. But gradually after the betterment of the situation the usage of printers, and other related product increased. This can be considered as one major factor contributing to the market growth.

Ink tank printers are used in many places and their increasing usage has positively impacted the ink and toner market as they are an integral component of the above market. The growth of the ink tank printer market has been the highest in last few quarters. The market potential of ink and toners has expanded over the years because of high usage of compatible cartridges.

"Growing Literacy Levels All Over the World to Propel Market Growth "

The requirement of ink and toners is growing day by day. A large number of industries use printers which in turn use ink and toners. Another factor which has propelled the market growth is growing literacy levels and educational facilities.

With growing literacy, the circulation of books, printouts, magazines are increasing among students at a very fast rate. Also, the transition from analogue to digital in the recent span of time has driven the market growth.

RESTRAINING FACTOR

"Fake Cartridges in The Industry to Decrease the Market Growth"

Many reasons have been responsible for the tremendous growth of the global ink and toners market. But at the same time a few factors can also bring down the market growth. The restraining factor majorly includes the circulation of fake cartridges in the market.

There is also a presence of many refill outlets. The local manufacturers compromise when it comes to the quality of these ink and toners which has an indirect impact on the global market as a whole. This is a major factor restraining the market development.

Ink And Toner Market Regional Insights

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"North America to Dominate Market Share in The Upcoming Years"

The region that predominantly dominates the market is North America. It holds the largest market share generating high revenue and profits. After North America Asia Pacific occupies the next position in the market share. USA accounts for more that one-fourth share of the market in North America

Many reasons have contributed to the growth of the market in this region. The most important factor is the industrialization and technological advancement in the region.  The huge investments coming in from the key industry players has also made North America the leading market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• HP (U.S.)
• Brother (Japan)
• Canon (Japan)
• Epson (Japan)
• Lexmark (U.S.)
• Samsung (South  Korea)
• DIC (Japan)
• Flint Group (India)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations