May 4, 2005 -- How big is the converting and packaging printing market, and how big is each of its main components?
What are the growth prospects in each area over the next five years?
How many companies are doing packaging printing now, and what will happen to this population of firms in the near future?
A comprehensive new study just published by the Print Industries Market Information and Research Organization (PRIMIR), provides the answers to these and other questions as part of a detailed examination of a vital industry segment.
The Package Printing and Converting, An Industry Assessment: 2004-2009 looked at both the overall converting and packaging printing industry and its four principal components: corrugated packaging, folding carton, flexible packaging and tag/label production.
Packaging printing and converting was a $68 billion industry in 2004, the study found, and is expected to grow to $83 billion by 2009.
Growth rates in all sectors will match or exceed those of the overall national economy and the commercial printing industry.
The study predicts these growth prospects for different sectors from 2004 to 2009:
Overall packaging printing & converting +22%
Folding carton +17%
Flexible packaging +25%
Annual growth rates in these areas will range from 3 percent for corrugated cartons to 5.7 percent for labels.
Another key finding of the study is the type of equipment used to perform the work. Sheetfed offset equipment, the workhorse of the commercial printing industry, is used in 81% of the folding carton work, 53% of the rigid packaging work, 32% of the tag and label work, 12% of the corrugated work and 10% of the flexible packaging work, according to the study.
The rise of hybrid machinery, suitable for both types of jobs in various run lengths and speeds, will most likely increase those percentages.
PRIMIR was created from the merger of the Market Research Committee of NPES The Association for
Suppliers of Printing, Publishing and Converting Technologies and the Graphic Arts Marketing Information Service GAMIS). Its headquarters is at 1899 Preston White Drive, Reston, VA 20191, You’ll find PRIMIR on the World Wide Web at www.primir.org. For information about this study or PRIMIR membership, contact Jackie Bland at (703) 264-7200, ext. 287 or [email protected]