Today, inkjet represents a market worth over $130 billion worldwide, covering graphics, packaging and industrial applications. The graphics and packaging segment alone could reach $134.6 billion by 2031.
A recent analysis by British consultancy Smithers identifies five key trends up to 2031, covering the geographical distribution of the market, growth segments and equipment trends.
1 - Asia is redrawing the geography of the market
According to the Smithers study, the inkjet market's center of gravity is shifting. North America accounted for 35.6% of global volumes in 2021. Asia-Pacific will reach this level in 2026 and surpass it by 2031, driven by China and India, which are both consumers of technology and producers of inkjet equipment.
Local manufacturers step up production of printers and inks "which is beginning to generate increased competitive pressure for Western equipment manufacturers" notes Smithers.
2 - Packaging and industrial markets drive growth
Print advertising remains the main inkjet market, but growth is slowing. Declining mail volumes and a less dynamic signage market are weighing on volumes. Transactional printing is following a similar trajectory.
Packaging and labels, on the other hand, are concentrating growth. This is the fastest-growing segment, in terms of both volume and value, with the gradual transfer of analog production to digital. But inkjet penetration rates are still limited in these applications.
At the same time, industrial markets are growing steadily. Inkjet textiles continue to develop, while printed electronics is the most highly valued segment, despite a high fragmentation of uses.
3 - Inks evolve under regulatory constraints
The market for inkjet inks has reached $9.9 billion and should reach $13.3 billion by 2031, according to Smithers. This growth is accompanied by an evolution in formulations, driven by regulatory and environmental constraints.
Aqueous inks are gaining ground in most segments. Already used in textiles, commercial printing, books and corrugated board, they are making headway in packaging, driven by requirements linked to food contact, recyclability and handling conditions.
Radiation-cured technologies are still used in visual communication, commercial printing and labels. Smithers observes a shift from conventional UV to LED UV, which reduces energy consumption and heat emission. However, their development in packaging remains limited by compliance constraints in indirect food contact.
4 - Towards specialized machines
The inkjet market is moving away from general-purpose presses towards equipment designed for specific applications. Manufacturers are developing machines tailored to targeted uses, whether for narrow-web labels, corrugated board or textiles, with specific trade-offs between quality, speed and cost.
This evolution is accompanied by a trend towards technological integration. A number of manufacturers, including HP, Epson, Konica Minolta, Ricoh, Kodak, Canon and Domino, are developing their own print heads in order to control system performance and operating costs.
In the large-format sector, this logic translates into the replacement of several pieces of equipment by a more limited number of more productive machines, in single-pass or hybrid roll-to-roll and sheet-fed configurations.
5 - Automation and AI transform operations
The study also notes that total cost of ownership (TCO) remains an obstacle to the development of inkjet compared to analog processes. Ink costs, the rapid renewal of equipment and the management of heterogeneous fleets weigh on margins.
According to Smithers, automation and artificial intelligence are helping to narrow this gap. Predictive maintenance and diagnostic tools improve machine availability and limit unplanned downtime.
On-line quality control systems reduce rejects, while production management software optimizes scheduling and equipment utilization. These functionalities are set to become more widespread as older machines are replaced.
The most important changes are yet to come
Inkjet printing is well beyond the stage of emerging technology. The realignment of supply chains, changing purchasing models and ongoing technical advances are reinforcing its place in the graphics and packaging industries.
According to Smithers, this dynamic remains incomplete: the most structuring developments are still to come.
