New York., Aug. 25, 2021 (GLOBE NEWSWIRE) -- Tactile Printing Market: Key Insights
According to our new research study on “Tactile Printing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, End User, and Geography,” the Tactile Printing Market is expected to reach US$ 2,257.92 million by 2028 from US$ 1,353.27 million in 2021; it is estimated to grow at a CAGR of 7.6% from 2021 to 2028.
Tactile Printing Market: Competitive Landscape and Key Developments
Kanematsu Corporation, Canon Inc., Konica Minolta Group, Roland DG, and American Thermoform Corp., ViewPlus Technologies Inc., Altix, Index Braille, Rink Printing Company, and Sturdy Print & Design Ltd. are among the key players operating in the global tactile printing market ecosystem. The ecosystem players include tactile machine manufacturers and tactile printing service providers. In addition to the 10 players profiled in the report, there are several other global, regional, and local players in the tactile printing market ecosystem / value chain, which were studied and analyzed during this study to gain a holistic view of the global market size and growth trends.
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In 2021, Roland DG launched VersaUV LEC2-640 and LEC2-330 UV Printer/Cutters.
In 2016, American Thermoform Corporation acquired Braillo Norway.
The tactile printing technique is majorly being used in mapping, labeling, packaging, security, and secure documentation. Increasing investments in the Braille printing technology due to the escalating demand for customized solutions such as Braille printed games, wristbands, musical cards, pins, switches, visiting cards, location labels, stickers, greeting cards, and calculators is augmenting the market growth. With many countries focusing on encouraging the employment of visually impaired people, the Braille printing industry is presenting significant opportunities to the tactile printing market players.
APAC led the global tactile printing market with a revenue share of ~34.8% in 2020.The dominance of the region is attributed to the rise in demand for tactile printing in the automotive, chemicals, cosmetics, and health and beauty industries, among others. Increasing awareness about hygiene and transforming lifestyle of consumers, leading to high preference for contamination-free food, in countries such as India, China, and Indonesia have stimulated developments in packaging inks and coating materials in APAC. Thus, the high pace of industrialization and urbanization is fueling the adoption of tactile printing technology in the APAC.
The COVID-19 outbreak adversely affected the overall growth pace of the tactile printing market in 2020, due to decline in revenue and disruptions in supply and demand across the value chain. Thus, the market experienced a decline in the y-o-y growth rate in 2020. However, due to expected rise in demand from commercial and industrial users globally, the market growth is expected to normalize from 2021 onwards, and thus, the tactile printing market would continue to grow at steady pace during 2021–2028.
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Tactile Printing Market: Application Overview
The tactile printing market, by application, has been segmented into packaging and labels, tactile graphics, and secure documentation. The packaging and labels segment led the tactile printing market in 2020. The process finds major applications in packaging and labeling operations, which helps enterprises in reaching to a broader customer base. Tactile printed packaging materials and labels also assist the visually impaired people. Moreover, the use of tactile print helps the brands bring trendy presentation and decorative embellishment in packaging. Different substrates available for tactile printing for packaging and labels include polythene and pillow packs, among others. The tactile print polythene is suitable for vertical form, fill, and seal particularly for seasonal and premium lines and for obtaining decorative effects. Thus, the use of tactile labels opens new avenues for companies offering exclusive products that other brands may not be offering.
Employers at small and medium-sized enterprises provide employment opportunities to a diverse range of candidates, including physically disabled contenders. Consequently, sectors such as marketing, business management and administration, human services, health science, and agriculture are extensively employing visually impaired aspirants at a large scale. Several other sectors employing visually impaired individuals include nonprofit organizations; local, state, and federal governments; and self-employed entrepreneurs. Legislative changes and civil right laws also improve the career opportunities for visually impaired individuals. Therefore, tactile signage boards and maps are in high demand to assist these people at workplaces.
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The tactile graphics help educate the visually impaired populations, as they may lack access to educational, practical, and recreational information. Therefore, as per the tactile printing industry professionals, proficiency and abundant availability of tactile graphics, coupled with advancements in related technologies, could create greater opportunities for visually disabled individuals to succeed in their desired fields. As a result, tactile graphs, illustrations, and drawings are being incorporated in books published for these people. The tactile printing technology is also being used for printing graphics on products such as games, Braille wristbands, Braille musical cards, pins, switches, visiting cards, location labels, stickers (Braille tactile custom stickers), greeting cards, recorders, calculators, and Braille calendars,.
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