Global Printing Machinery Market Expects Growth A new market study published by Global Industry Analysts Inc., a market research company, presents perspectives on opportunities and challenges in a sig- nificantly transformed post COVID-19 marketplace. Amid the COVID-19 crisis, the global market for print- ing machinery estimated at $18.9 billion in the year 2020, is projected to reach a revised size of $24 billion by 2026, growing at a Compound Annual Growth Rate of 4 percent over the analysis period. Continued Growth The printing machinery market in the United States is estimated at $5.3 billion in the year 2021. China is forecast to reach a projected market size of $4.8 bil- lion by the year 2026 trailing a CAGR of 6.5 percent over the analysis period.Among the other noteworthy geographic markets are Japan and Canada, each fore- cast to grow at 2.3 percent and 3.2 percent respective- ly over the analysis period. Within Europe, Germany is forecast to grow at approximately 3 percent CAGR. In the global flexography segment, the United States, Canada, Japan,China and Europe will drive the 3.6 per- cent CAGR estimated for this segment. These region- al markets accounting for a combined market size of
$1.7 billion in the year 2020 will reach a projected size of $2.2 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Sun Chemical To Increase N.A. Prices On Inks, Coatings Sun Chemical will increase prices across its entire portfolio of publication, packaging and commercial sheetfed inks, coatings, and adhesives in North Ameri- ca, effective immediately. Rising Costs The inflationary cost trends in raw materials used within the ink industry have continued to accelerate throughout the course of the year, according to Sun Chemical. In addition to the raw material pressures, significant cost increases have been instituted in steel drums, pails, and other packaging components. Avail- ability of skilled labor remains a challenge and in order to attract and retain a committed team, labor costs and benefits have risen exponentially. International and domestic logistics costs have continued their steady climb and forecasts show no change in these trends in the near term, said the company.
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Flexo Market News September 27, 2021 5
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