Asia Pacific is fast emerging as a key regional market for large format printers according to a new report from TMR Research.
The research company says manufacturers are making significant investments in R&D and launching customised printers to meet a wide spectrum of demands from end users including advertising, retail, healthcare, hospitality and education.
It says Asia Pacific growth is being driven by demand for UV-cured inks and latex wide format printers across the region, while the adoption of 3D technology and technological advances in printing in emerging markets, particularly South Korea, Japan and China, are expected to fuel growth.
TMR Research says the large format, or wide format printers are being used in ‘myriad’ applications including print banners, posters, signage, printed textiles, wall coverings, vehicle graphics and constructional designs requiring large format artworks.
Among the vendors vying for share in the large format market are Canon, Hewlett-Packard, Epson, Konica Minolta and Kyocera, TMR Research says.
“A wide variety of printing applications has led to rapid evolution of the global large format printer market,” TMR says.
“The benefits of reduced turnaround times, along with constant advancements in printing technologies, would continue to offer significant impetus to the large format printer market [out to 2025].”
Helping drive the market is rising demand for short-run print jobs and increased adoption of UV-curable inks.
TMR Research says developments in eco-solvent inks – which some vendors prefer over other solvents for vehicle wraps, outdoor signage and point of sale displays – and soaring demand for 3D printing in various industry verticals are also crucial in boosting in the market.
“Furthermore, recent technology advancements in ink-level monitoring software and the integration of traditional printing with digital media communication are factors stimulating the demand for LFP,” TMR says.
Declining prices will also spur growth.
The research house says while digital media’s use for advertising and promotion is likely to impede the growth of the market to some extent, the move of a large number of traditional printing businesses to wide format printers for faster turnaround, short-run print jobs and enhanced image quality has created ‘abundant’ growth opportunities for the market players.