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Printing Plates Market Report 2024: Industry Size and Opportunities
Printing Plates Global Market Report 2024
According to The Business Research Company's, the printing plates market size has grown strongly in recent years. It will grow from $9.29 billion in 2023 to $9.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing demand for high-quality printed materials in packaging and labelling, growth in the e-commerce sector requiring more diverse packaging solutions, advancements in printing technologies enhancing plate durability and performance, rise demand for customized and short-run print jobs, adoption of digital printing technologies influencing plate production methods.
The printing plates market size is expected to see strong growth in the next few years. It will grow to $13.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to continued expansion of e-commerce fuelling the need for more specialized packaging, growing focus on sustainability leading to increased demand for recyclable and eco-friendly printing plates, integration of artificial intelligence in printing processes optimizing plate usage, increasing demand for 3D printing technology driving innovation in plate materials, expansion of global markets and international trade requiring diverse printing solutions. Major trends in the forecast period include evolution of hybrid printing technologies combining traditional and digital methods, expansion of biodegradable and compostable printing plates in line with sustainability goals, adoption of advanced AI and machine learning for optimizing plate production and performance, growth of 3D printing applications influencing the development of new plate materials and designs, increasing integration of IoT in printing systems for enhanced monitoring and control of plate usage.
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Market Drivers and Trends:
The rise in promotional and advertising activities is expected to propel the growth of the printing plates market going forward. Promotional and advertising activities refer to efforts aimed at increasing awareness, interest, and sales of products or services through various marketing strategies and communication channels. The increasing promotional and advertising activities are due to several factors, such as increasing competition, the need for brand differentiation, advances in digital marketing technologies, and a growing emphasis on reaching target audiences through multiple channels. Printing plates are used in promotional and advertising activities to create high-quality, consistent print materials such as brochures, posters, and flyers. For instance, in November 2023, according to an article published by the Advertising Association, a UK-based trade association for advertisers, agencies, media, and research services, advertising exports increased by 15.5% from 2021 to 2022, reaching a total of $20.28 billion (£15.6 billion). Therefore, the rise in promotional and advertising activities will drive the growth of the printing plates market.
Major companies operating in the printing plates market are focusing on developing advanced sustainable flexo plate materials to enhance environmental performance and meet the growing demand for eco-friendly solutions. Eco-friendly and sustainable printing plates refer to plates designed with materials and processes that minimize environmental impact, reduce waste, and use fewer harmful chemicals. For instance, in May 2024, XSYS, a Germany-based provider of flexographic printing plates, launched the Nyloflex Eco Flexo Plate Series. The plates incorporate 19-29% renewable raw materials in their polymer layer, aligning with the industry's shift towards more environmentally friendly practices. They also provide a 20% reduction in processing time, which enhances productivity while lowering energy and solvent consumption.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Fujifilm Holdings Corporation; Asahi Kasei Corporation; Toray Industries Inc.; DuPont de Nemours Inc.; Sun Chemical Corporation; Element Solutions Inc.; Agfa-Gevaert NV; Flint Group SA; Siegwerk Druckfarben AG & Co. KGaA; Eastman Kodak Company; MacDermid Graphics Solutions LLC; Miraclon HoldCo Corporation; Inkcups Now Corporation; Anderson & Vreeland Inc.; Lucky Huaguang Graphics Co. Ltd.; Grafiflex SRL; Tampoprint AG; PlateCrafters; Tape & Label Converters Inc.; ATL Printing and Converting
Printing Plates Market 2024 Key Insights:
• The printing plates market size is expected to grow to $13.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Growth Of The Printing Plates Market Driven By Rising Promotional And Advertising Activities
• Advancements In Sustainable Printing Plates Enhance Sustainability And Efficiency
• Asia-Pacific was the largest region in the printing plates market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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