16 October 2019
Study Says Printing To Decline by 1% Per Year
Down by 1% per year till at least 2023
Down by 1% per year till at least 2023
Commercial printing revenues are forecast to fall less than 1.0% yearly in dollars to 2023, according to Commercial Printing: a report recently released by Freedonia Focus Reports. Overcapacity due to a long-term trend of declining demand is contributing to intense competition and driving down prices, magnifying industry revenue losses. However, increasing paper prices and growing demand for custom, individualized packaging are expected to prevent faster declines.
Offset will still be the most common type of printing
Offset will still be the most common type of printing
Rising demand for higher-priced sustainable products will also stave off further losses. As clients of commercial printing services increasingly ask for shorter – but often more complex or custom – printing runs, the shift is expected to benefit digital printing to the detriment of other segments. Lithographic commercial printing revenues, the largest process segment, are projected to contract 1.8% annually to 2023. Declines will result from increasing competition from digital and flexographic printing processes in label and wrapper applications, as well as advertising applications. Technological improvements expanding the capabilities and cost effectiveness of digital and flexographic printing are expected to compound losses. Nevertheless, lithographic processes will continue to dominate the commercial printing market due to widespread use in advertising and periodical applications, preventing faster declines.
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