Report : Tactile Printing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Packaging & Labels, Tactile Graphics, and Secure Documentation) and End User (Braille Users, Industrial, and Government & Defense)
According to the new research report titled “Tactile Printing Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 2,257.92 million by 2028, registering a CAGR of 7.6 % from 2021 to 2028.
Tactile printing is a process of creating a texture on a printing substrate, which can be sensed with touch. Tactile printing finds various applications in pharmaceutical, medical packaging, human services, health science, agriculture, service, and other sectors. The demand for tactile printing is being majorly driven by the growing use of this technique in mapping, labeling, packaging, security, and secure documentation. Further, increasing investments in the Braille printing technology due to the escalating demand for customized solutions such as Braille printed games, wristbands, musical cards, pins, switches, visiting cards, location labels, stickers, greeting cards, and calculators is augmenting the growth of the tactile printing market. With many countries focusing on encouraging the employment of visually impaired people, the Braille printing industry is presenting significant opportunities to the tactile printing market players.
Key Findings of Study:
The global tactile printing market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM. In 2020, APAC held the largest share of the market. The market growth in the region is attributed to the rise in demand for tactile printing in the automotive, chemicals, cosmetics, and health and beauty industries. Increasing awareness about hygiene and transforming lifestyle of consumers, leading to high preference for contamination-free food, in countries such as India, China, and Indonesia have stimulated developments in packaging inks and coating materials in APAC. Moreover, the high pace of industrialization and urbanization is fuelling the adoption of tactile printing technology in the region.
The COVID-19 outbreak crisis is adversely affecting the most of the industries across the world. Due the disruptions in supply and demand across the value chain, companies operating in the global tactile printing market are witnessing decline in revenue and business growth. Therefore, the outbreak restrained the overall growth of the market in 2020 to some extent. However, owing to the expected rise in demand from commercial and industrial users globally, the market growth is expected to normalize from third quarter of 2021 and continue to grow at a steady rate from 2021 to 2028.
Kanematsu Corporation, Canon Inc., Konica Minolta Group, Roland DG, and American Thermoform Corp. are among the key players profiled in the tactile printing market study. In addition, there are several other global, regional, and local players operating in the tactile printing ecosystem/value chain, which were studied during the study to get a holistic view of the entire market.