Zink Printing Market Expected to Reach $1.02 Billion By 2030

According to a new report published by Allied Market Research, titled, “Zink Printing Market By Component, Functionality, Connectivity, and Application: Global Opportunity Analysis and Industry Forecast, 2020–2030”, the global zink printing market size was valued at $0.75 billion in 2020, and is projected to reach $1.02 billion by 2030, registering a CAGR of 3.2%. Asia-Pacific is expected to be the leading revenue contributor in the zink printing industry during the forecast period, followed by LAMEA and Europe.    

Zink printing or zero ink is an inkless technology, which produces photographs without utilizing ink cartridges, toner, or strips. In the Zink printing technology, the printer uses heat to activate unique color-forming molecules integrated in the layers of Zink paper to make a colorful print.

Increase in usage of instant cameras, rise in installation of automated teller machines (ATMs), development of the retail sector, and surge in need of point-of-sale (POS) thermal receipts are the key factors that notably contribute toward the growth of the global zink printing market. In addition, user-friendly interface, low maintenance cost, and development of the packaging & printing industry augment the overall market growth. However, high cost of Zink based paper acts as a major restraint of the global market. Conversely, rapid expansion of pharmaceutical and food & beverage sectors is expected to open new avenues for the zink printing market growth in the near future.

Moreover, developing nations tend to witness high penetration of Zink printing products, especially in commercial sectors, which is anticipated to augment the market growth. Furthermore, rise in adoption of mobile printers based on wireless technologies accelerates the market growth.

The global zink printing market is segmented into component, functionality, connectivity, application, and region. By component, the market is classified into Zink-based paper and Zink based printer. Depending on functionality, it is categorized into compact photo printer and camera photo printer. On the basis of connectivity, it is fragmented into Bluetooth, near-field communications, and others. The applications covered in the study include home and commercial.

Region wise, the zink printing market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. However, between 2020 and 2030, the market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in demand from emerging economical countries such as India, China, Japan, Taiwan, and South Korea.

COVID-19 Impact Analysis

The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in first quarter of 2022. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increase in panic among customers.

Asian and European countries under lockdown have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the zink printing market.

In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, boosts the demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which hinder the growth of the zink printing market.

Key Findings of the Study

• The commercial segment is projected to be the major application, followed by home.
• Asia-Pacific and North America collectively accounted for more than 59% of the zink printing market share in 2020.
• Japan is anticipated to witness highest growth rate during the forecast period.
• U.S. was the major shareholder in the North America zink printing market analysis, accounting for approximately 69% share in 2020.
• Depending on connectivity, the Bluetooth segment generated the highest revenue in 2020. However, the near-field communications segment is expected to witness the highest growth rate in the future.

The key players profiled in the report include Brother Industries Ltd., Canon, Dell, Eastman Kodak Company, HP Inc., LG Electronics, Lifeprint, Polaroid, PRYNT, and ZINK Holdings LLC. These players have adopted various strategies such as collaboration and product launch to strengthen their foothold in the industry.