Research and Markets predicts major growth of hybrid printing

Research and Markets has released its latest report with a global forecast for the hybrid printing market, predicting that this technology will experience immense growth at a CAGR of 13.2 percent until 2028.  

According to the report, the global hybrid printing market was valued at 5.5 billion USD in 2023 and is estimated to reach 10.2 billion USD by 2028, growing at a CAGR of 13.2 percent during the forecast period.

The rising demand for personalized printing materials is set to drive the growth of the hybrid printing industry, a powerful technology that combines digital and traditional printing technologies. This demand fuels the need for customized and unique printed products, acting as a driving factor for hybrid printing.

The advantages of the increasing demand for personalized printing materials are manifold. Primarily, it enables businesses to enhance their brand presence by offering tailored and captivating printed materials that resonate with their target audience.

Markets and Research lists operational complexities and the need for skilled operators as significant challenges that act as restraining factors for hybrid printing. Hybrid printing involves intricate workflows, integration of different printing technologies and the need for skilled operators to manage and troubleshoot various aspects of the printing process efficiently.

The growth of the e-commerce market is creating new opportunities for hybrid printing providers as retailers need to be able to print high-quality labels and packaging quickly and cost-effectively.

The report also mentions that operators of hybrid printing presses must possess comprehensive knowledge of both digital and traditional printing methods to ensure the production of high-quality prints. The demand for specialized training and expertise in hybrid printing poses hurdles for the industry players due to the limited availability of training programs and associated costs, hindering the widespread adoption of hybrid printing and its potential benefits.

The firm also predicts that the UV inkjet printing segment will hold a larger market share during the forecast period as it produces high-quality prints with precise details and vivid colors and can help reduce manufacturing costs and time. Many substrates, including paper, plastic, metal and glass, are suitable for UV inkjet printing, making it a flexible printing method that may be applied to various products.

The packaging printing segment, according to the report, will exhibit the largest share in terms of the hybrid printing technologies market with significant contributions to the pharmaceutical industry in various aspects.

In terms of geographical analysis, the report lists Asia Pacific as a region growing at the fastest rate. It will be fueled by the increased spending of masses on cosmetic products, and an increase in the young population in the region. This industry is expected to contribute significantly to the growth of the market.

The emerging economies of China and India are also indicated as high-growth markets for skincare, haircare and makeup products, supported by the economic growth in these countries and increased consumer spending on cosmetic products.