Global emerging ink jet printing technologies market is anticipated to rise with a CAGR of about 24.6% during the forecast years 2016-2023. Surging demand of high resolution printing technologies is promoting strong growth in the market. Some other factors that includes increasing applications of ink jet printing in textile industries, high investments in the development of novel applications of ink jet printing technology, high demand of ink jet printers for manufacturing printed electronics and surging utilization of advanced ink jet printers in 3d printing also helps to back the market growth.
Global emerging inkjet printing technology market has been segmented on the basis of applications and technology. On the basis of applications, the market has been segregated into product decoration application, flavouring and fragrance application, life science and medical, chemical, 3D printing, energy and optics application. On the basis of inkjet printing technologies, the market has been segmented as drop on demand inkjet printing technology and continuous ink jet printing technology. Drop on demand technology offers advanced printing solutions that includes high resolution printing, decoration on 2 dimensional and 3 dimensional applications and variable information. Moreover, as compared to continuous ink jet printers, drop on demand inkjet printing provides precise control of ink that can yield 600 to 2400 or higher dpi. As a result, drop on demand inkjet printing technology is leading the market. Utilization of this technique in industrial and medical applications such as case coding, metals, bags, drug discoveries and multiple automated microtitration and others are the prime factor contributing towards its growth.
Global emerging inkjet printing technology market report has been geographically segmented into North America, Europe, Asia Pacific and rest of the world. Asia Pacific is anticipated to be the fastest growing market due to increasing utilization of ink jet printing technologies for the manufacturing of printed electronics. Countries in Asia Pacific region such as Japan, China and South Korea seems to offer an encouraging environment as they have come up as a prolific holder of patents for printed electronic products competing with North America and Europe. Some of the major consumers of printed electronics in Asia Pacific includes Sony, Samsung, Matsushita-Toshiba, Konica Minolta and others. North America leads the emerging ink jet printing market due to increasing investment for the development of novel applications and high demand of inkjet based printers in 3D printing. 3D printing technology is being largely used for product development, innovation and prototyping across North America based industries that includes Aerospace such as Boeing, Airbus, NASA and others, Automotive industries that includes General Motors, Chrysler, Tesla etc. along with Consumer electronics industry, medical industry and consumer goods manufacturers. This has helped to boost the demand of 3D inkjet printers in this region.
The major market players of the global emerging inkjet printing technologies market include Canon Inc., Fujifilm Dimatix Inc., Hewlett Packard, BioDot Inc., Seiko Epson Corp., Eoplex Inc. and others. These companies use various strategies such as merger & acquisition, collaboration, product launch and partnership.
For instance, on the date 26 February 2015, Canon Europe announced to enter into a distribution agreement with 3D systems that is a leading provider of 3D printing technologies. Under the agreement, Canon will market, sell and support 3D printers including ProJet 1200, 3500 series, 7000, 6000 and 4500 series in UK and Ireland. This will provide an access of advanced 3D printing technology of 3D Systems to the customers along with established service and support from Canon.