Worldwide Commercial Printing Industry to Reach US$535.8 Billion by 2015

GIA announces the release of a comprehensive global outlook on the Commercial Printing Industry. The worldwide commercial printing industry is reviving in tandem with the recovery in the global economy, stimulated by fresh inflows of advertising revenues, technological developments, and strong demand from emerging economies in the Asia Pacific and Middle East region.
As the printing industry mainly produces publicity products, commercial printed matter, newspapers, periodicals, printed packaging and modules, the fortunes of the sector are largely linked to the depth of corporate advertising budgets. The industry is highly competitive with customers demanding shorter run lengths, personalization, and faster turnarounds. The advent of digital technology into printing resulted in the opening up of new avenues for the industry. Today, digital presses combining printing variable data and offset technology, occupy the floors of every modern printing house. Wide-format printing is a low-volume high-margin business of the commercial printing industry, driven by technological advances in output resolution, color, speed and digitalization. Direct mail and commercial printing are rapid growth areas for the industry, as they meet the consumer requirement for high-quality as well as personalization.
The global financial turmoil precipitated the downslide of advertising revenues, thereby stirring a wave of downsizing, consolidation and restructuring across the board in the commercial printing industry. The widespread use of the internet and handheld digital devices contributed even more to the steep decline in hard print business revenues. However, the recession also prompted printing equipment manufacturers, product suppliers and service providers alike to rework their existing business strategies and customer relationship management skills.
Digital technologies such as inkjet and electrophotography have been making inroads into traditional printing processes such as offset, gravure, flexography and lithography, due to the demand for variable, short-run and customized printing. However, offset printing continues to hold its own due to the quality of output and the constant innovation in the segment. Professional print providers adopted wide format printing and digital technologies were able to weather the tough period successfully. Printing ink and machinery manufacturers relied on product innovation and better customer service to sustain sales volumes through the financial crisis. LED curing lamps; eco-friendly, UV and thermal inks; latex printers and UV inkjet printers are just a few of the latest technologies taking the market by a storm.
Despite the prevalence of the internet and portable digital devices, printed matter continues to charm consumers. With a gradual increase in corporate budgets and continued consumer patronage for printed advertisement and graphics materials, the industry is anticipated to register healthy growth in the near future. The Asia Pacific region, including Japan, dominates the commercial printing industry in terms of market size, miles ahead of the North American and European markets. Emerging economies in the Asia Pacific and Middle East markets are forecast to set the pace of growth for the entire industry in the next few years.