Newark, NJ, March 05, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global printer toner market is expected to grow from USD 3.90 billion in 2018 and expected to reach USD 7.35 billion by 2028, growing at a CAGR of 6.53% during the forecast period 2019-2028.
The rising inclination of the consumers towards toners from ink is the main factor driving the market growth and development. The toner cartridges offer many advantages in comparison to ink. Printer toner is a fine powder which is utilized in the photocopiers and laser printers. Whereas printer ink is a liquid that is utilized in the inkjet printers and is coloured with pigments or dyes depending upon the type of cartridge the user will buy. The main disadvantage of the dye based printing ink is that it is vulnerable to blurring. Additionally, the dye based pigment cartridges are not waterproof in nature. In comparison to ink, toner is a type of powder which doesn’t stain away. Although ink is much cheaper and economical as compared to toner, but when it comes to picture quality toner is much better than ink. Laser printers using print toner can enhance and optimize the picture quality by giving true colours to the picture. This is because, toner cartridges utilize the laser technology to soften and liquefy the toner dust onto a page so as to create an image. Additionally, the laser printers coupled with the printer toner cartridges possess the benefit of creating prints faster in comparison to the inkjet printers. Also, while producing pictures, the laser printer are extremely precise and accurate. Thus, these attributes of the printer toner are creating the demand from the end-use industry verticals. But, the high cost of the laser printers in comparison to the inkjet printer is restraining the market growth and development. Also, Printer toner typically comes at a higher cost. The cartridges of the printer toner can be pricey to refill the toner in the printer. On the other hand, toner is very long-lasting, depending upon the usage.
In addition, the refilling of the cartridges in the printer toner is usually hectic and messy. During the toner refilling process, a user has to deal with microscopic powder. It gets quite untidy if the user doesn’t know how to handle. The printer toner can smudge very easily and can be very challenging to remove. The technological advancements in the printers and printing technology will provide potential opportunities for the market to flourish. The growing adoption rate of the laser printers in the various end-use industry verticals is the factor behind the development and growth. The laser printers use toner cartridges. The organizations are adopting laser printers for their branding, advertising and marketing purposes. In the present scenario, there is the large scale production of the advertising items such as brochures, leaflets, catalogues, banners, bookmarks and others. This will lead to the rise in demand for laser printers. Also, the rising adoption of the laser printers in the various research and educational institutions will favour the market growth and development in future.
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Type Insights:
The global printer toner market is segmented on the basis of genuine or OEM, compatible and chemical prepared toner. The genuine or OEM segment held the largest market value of USD 2.40 billion in 2018. OEM printer toners are produced and generated with precision and accuracy to its highest level, offering the best print quality so as to meet the consumer needs and demands coupled with providing full customer satisfaction. The OEM toner cartridges for the key printer manufacturing organizations are Epson T, Elite Image, Brother, Canon CNM, Epson, and HP. Additionally, the consumers prefer to buy OEM producing printer toner cartridges.
Application Insights:
The application segment for the global printer toner market is categorized into commercial use, office use, and others. The commercial segment dominated the market with the highest market share around 60% in 2018. The segment growth is attributed because of the rising acceptance of the laser printers in various end-use industry verticals such as retail, consumer goods, textile and apparel for marketing and branding activities. Laser printers along with the toner cartridges produces high quality images for banners, catalogues, boards, bookmarks, leaflets and others.
Regional Insights:
The regions analysed for the market are North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific segment is expected to grow at the highest CAGR of 7.45% during the forecast period. Higher industrialization rate especially in developing nations such as India has led to up surging demand for printer toner in and across the region. Varying consumer inclinations, so as to have an aesthetic appeal with the help of colour printing, the key organizations are demanding for toner printers along with toner cartridges for branding purpose in the region.
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Competitors Insights:
The key players catering to global printer toner market are indulging themselves in serious research and development activities to in order to bring product differentiation and innovation. Developing and developed countries are offering greater opportunities and major players are continuously focused on new developments, strategic partnerships, acquisitions and venture capital investments to obtain high growth in the market. For instance, in December 2019, Ericsson and Microsoft announced the partnership for the next generation of connected cars. Integration of Ericsson’s Connected Vehicle Cloud and Microsoft Connected Vehicle Platform enables automakers to accelerate the delivery of new connected car services worldwide. In December 2019, Epson announced the launch of revolutionary monochrome all-in-one supertank printers – the EcoTank ET-M3170, EcoTank ET-M2170 and EcoTank ET-M1170, to strengthen its ecotank cartridge-free printer portfolio.
Objectives of the Study:
The base year for the study has been considered 2018, historic year 2016 and 2017, the forecast period considered is from 2019 to 2028. The global printer toner market is analysed on the basis of value (USD Million) and volume (Units). The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2028. Porter’s Five Forces model is used in order to recognize the competitive scenario in the global printer toner market. This report incorporates the industry analysis which is focused on providing an extensive view of the printer toner market. The report provides company profile of the key players operating in the printer toner market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information along with its analysis.
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