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Thermal Inkjet Printer Market

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Thermal Inkjet Printer Market Snapshot (2023 to 2033)

According to Future Market Insights research, during the projected period, the global Thermal Inkjet Printer Market is set to enjoy a valuation of US$ 21.0 billion in 2022, and further expand at a CAGR of 5.7% to reach US$ 36.6 billion by the year 2032. The sales of thermal inkjet printers will boost with the top 5 companies projected to hold 15-20% of the global thermal inkjet printer market in 2021.

Based on the substrate, the paper segment is expected to remain the leading segment for the global thermal inkjet printer market. The same segment is estimated to account for around 54% of the market value share by the end of 2032.

Market Size 2022

US$ 21.0 billion

Market Size 2032

US$ 36.6 billion

Value CAGR (2022 to 2032)

5.7%

Collective Value Share: Top 5 Companies (2022E)

15-20%

According to the FMI analysis, the thermal inkjet printer market totaled US$ 19.9 billion in 2021 and is estimated to be worth US$ 36.6 billion by the end of the next ten years, expanding at a CAGR of 5.7% from 2022 to 2032. The sales of thermal inkjet printers will boost with the top 3 countries projected to hold 25-30% of the global thermal inkjet printer market by the end of 2022.

The thermal inkjet printer market is estimated to experience a positive growth outlook by the end of 2022. A new forecast by FMI estimates that the sales of printers will rise during the forecast period and are projected to create a growth incremental growth opportunity of US$ 16.6 billion.

High-resolution documents or image printing is the major factor propelling the demand for the thermal inkjet printer market across the globe. The thermal inkjet printer market is projected to grow 1.8x the current market value from 2022 to 2032.

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Historic Market Outlook for Thermal Inkjet Printer Market

The global market expanded at a CAGR of 5.3% during the historic period and reached US$ 19.9 billion in 2021.

In order to maintain their position as market leaders, manufacturers are now giving printing their full attention. For the purpose of producing high-resolution documents or photographs, thermal inkjet printing selectively jets tiny droplets of ink onto the paper. Additionally, glass, fabrics, and synthetic building materials can all be printed with a thermal inkjet printer. This helps the market's demand for thermal inkjet printers even more. Additionally, a thermal inkjet printer is flexible by nature, dependable, and economical for printing in small batches, making them useful for small-scale manufacturers as well.

The thermal inkjet printer is vastly used when the print quality required is very high for creative or household purposes. Thermal inkjet printer is superior when it comes to blending the colors for print as compared with the laser printer. The drops produced by the inkjet printer is 50 micron - 60 micron. These small drops when spread with the different sets of nozzles give the thermal inkjet printer a high print resolution. Overall, the global thermal inkjet printer market is projected to rise during the forecast period.

How does Eye-catching Printing attracting Customers Generate Demand for the Thermal Inkjet Printer?

Packaging printing by thermal printing is becoming very popular. The technology is portable and makes it easier than ever to produce packaging labels of higher quality. Customers can quickly recognize a product by its label on a long shelf of competing goods. The label may contain a range of information that aids consumers in making decisions. On the label, there are imaginative images, logos, product messaging, and even details about the sustainability of the materials used to make the product. The thermal inkjet printer produces eye-catching designs that may draw clients’ attention.

Without the need for toner or ribbons, contemporary thermal printer can create color labels and flexible packaging. The zero ink printing technology, which is currently offered for a variety of packaging applications is now developed and this will create a huge growth opportunity for the target market.

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How does the Versatile Printing Ability of the Thermal Inkjet Printer Propel the Demand?

The thermal inkjet printer is capable enough to print on various types of paper such as plain paper, textured stationery, glossy paper, etc., and on fabrics, while the conventional laser printers are designed to print on A4 size papers. Also, the thermal inkjet printer is used for marking and coding on various substrates such as plastic containers, films, bags, pouches, etc. The Inkjet printer head has no contact with the substrate to be printed upon, hence even the large substrate can be printed by a small printer. The inkjet printer provides direct-to-object printing. The office and home-based thermal inkjet printer is compact and small and can be moved quickly from one place to another as compared to the laser printer which is heavy and more substantial in size.

Category-wise Insights

Which Ink Type is Majorly Preferred for the Thermal Inkjet Printer?

Under the ink type category, UV-curable inks dominate the thermal printer market. The UV-curable ink is cured and pragmatic to the substrate or media by UV light. The print is already dry when it leaves the printer, which enables a speedy delivery request to be fulfilled. Printing is achievable on non-absorbent materials including metal, glass, and plastic.

To give ideas form, the components of colors of the ink are directly dried and bonded to the substrate or media by UV radiation, and the ink releases very little VOC (volatile organic compounds).UV ink can print vivid and lovely colors on heat-hypersensitive materials like PVC, PET, and more due to the very less heat generation of LED-UV light. It allows for effective broadcaster treatment by digital printing on demand even with UV-curable color ink, the briefing treatment can improve the adhesive performance of inorganic materials such as metals and ceramics.

Which End Use offers Productive Growth Opportunity for the Global Thermal Inkjet Printer Market?

Based on end use, the food & beverage segment is projected to offer productive growth opportunities for the global thermal inkjet printer market. The same segment is projected to expand 1.6x the current market value during the forecast period. To maintain the productivity of the manufacturing line, a high-speed, high-quality printer is required. For food producers, high-quality printing clarity has become crucial. Thermal inkjet printer offers a resolution of up to 600 dpi, which is incredibly high. Due to the versatility, demand will increase as more manufacturers attempt to set their brands apart from one another.

This is because there are many different forms of food packaging that we see in supermarkets. Several substrates are appropriate for thermal printers. A printer can print alphanumeric text (in true typefaces), graphics, logos, QR codes, 2D data matrix codes, and more thanks to the hundreds of nozzles inside each print head. These printing systems are quick to set up, simple to operate, and simple to interface with existing technologies. The use of thermal inkjet printers enables food packaging printing to maintain high standards of efficiency and security.

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Country-wise insights

Why China is estimated to Augment the Demand for Thermal Inkjet Printer?

China thermal printer inkjet market is projected to register a CAGR of 6.0% from 2022 to 2032. The market for a thermal inkjet printer in China is growing as a result of a number of factors, including increasing production and consumption of packaged food and beverages, the availability of raw materials at significantly reduced rates, and the use of cutting-edge packaging printing techniques. Increased demand for packaging goods fuels demands for packaging and printing equipment. This printer heats the ink and applies it to a specific source using thermal or electrical energy. Deals for thermal inkjet printer will increase as they offer a less expensive alternative for high-speed printing and can print on different surfaces.

How does Germany Create a Growth Opportunity for Thermal Inkjet Printer Market?

Germany is projected to hold around 24% of the European thermal inkjet printer market by the end of 2022. Printing on paper, plastic, or textiles generates an estimated €88 billion in annual revenue for printing businesses, according to the European Commission. During the anticipated years, it is expected that the rapid expansion of the advertising sector and the rising need for improved printing with greater resolution and at a lower cost will support the expansion of the Europe market. Thermal inkjet inks for the packaging sector are projected to rise as a result of the expanding worldwide packaging industry and the quick printing speeds provided by a thermal inkjet printer. Additionally, the German market is very fragmented, with important regional and local players offering a variety of options for businesses investing in the market dome. Cumulative changes in the printing subdivision produce plea for the thermal inkjet printer market.

Competitive Landscape

The key players in the thermal inkjet printer market are trying to capture the market to help customers meet the growing sustainability demands of today and tomorrow developing new products and materials that are designed to advance a pathway to circularity. The key players are adopting collaboration or partnership strategies to expand their resources and footprint. Some of the latest developments by the key players are as follows -

  • In November 2022 Seiko Epson Corporation has reiterated its strong commitment to the development of sustainable technologies and to Heat-Free inkjet technology, supported by a previously announced investment of $100 billion over ten years.
  • In November 2022, Docod Precision Group Co introduced high-resolution thermal Ink Jet printing this printer is a maintenance-free, HIGH-RESOLUTION(HR) printer that uses easily replaceable print cartridges similar to those used for years in the office printer.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 5.7% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015 to 2020

Forecast Period

2022 to 2032

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis

Segments Covered

  • Substrate
  • Ink Type
  • End Use

Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa (MEA)
  • Oceania

Key Countries Covered

  • USA
  • Canada
  • Mexico
  • Brazil
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • India
  • GCC countries
  • Australia

Key Companies Profiled

  • Videojet Technologies, Inc.
  • Inkjet Inc.
  • Domino Printing Sciences plc.
  • Linx Printing Technologies Ltd.
  • Docod Precision Group Co., Ltd.
  • Squid Ink Manufacturing Inc.
  • United Barcode Systems
  • ATD Ltd.
  • HSA Systems ApS
  • Greydon
  • Classic Industries.
  • Canon Inc.
  • Fam International
  • Seiko Epson Corporation
  • Brother Group

Customization & Pricing

Available upon Request

Thermal Inkjet Printer Market by Category

By Substrate, Thermal Inkjet Printer Market is Segmented as:

  • Paper
  • Plastic Sheets
  • Glass
  • Metal
  • Others (Fabrics, etc.)

By Ink Type, Thermal Inkjet Printer Market is Segmented as:

  • Aqueous / Water-based Inks
  • Solvent-based Inks
  • UV curable Inks
  • Phase Change ink/ Hot Melt Inks

By End Use, Thermal Inkjet Printer Market is Segmented as:

  • Food & Beverage
  • Pharmaceuticals
  • Electronical & Electronics
  • Personal Care & Cosmetics
  • Chemical
  • Automotive
  • Other Industries (Homecare, etc.)

By Region, Thermal Inkjet Printer Market is Segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa (MEA)
  • Oceania

Frequently Asked Questions

The global thermal inkjet printer market reached US$ 19.9 billion in 2021.

The thermal inkjet printer market expanded at a CAGR of 5.3% from 2015 to 2021.

By 2032, the global thermal inkjet printer market is projected to reach US$ 36.6 billion.

From 2022 to 2032, the global thermal inkjet printer market is anticipated to register a CAGR of 5.7%.

The thermal inkjet printer market is estimated to grow 1.8 times the current market value during the forecast period.

Increased demand for printed packaging solution and need for high print resolution & picture quality supplements the demand for thermal inkjet printer across the globe.

Videojet Technologies, Inc, Inkjet Inc, Domino Printing Sciences plc, Linx Printing Technologies Ltd, Docod Precision Group Co., Ltd., Canon Inc., and Seiko Epson Corporation are the key players operating in the global thermal inkjet printer market.

As per the FMI analysis, the Indian thermal inkjet printer market is projected to expand at a CAGR of 6.3% from 2022 to 32.

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