Stratview Research has published a new report titled “Printing Blankets Market” which is segmented by Blanket Type (Conventional Blanket, UV Blanket, Combination Blanket, and Others), by Substrate Type (Paper and board, Metal, Textile, and Others), by Application Type (Packaging, Commercial, Newspaper, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, The Global Printing Blankets Market size was valued at US$ 648.37 Mn in 2018 and is expected to reach US$ 855.62 Mn by 2024, registering a CAGR of 4.7% from 2019 to 2024.
Printing blanket is an imperative part of offset printing as it is the final point of contact between the printed substrate and press. The main function of the blanket is to transfer the inked image from the plate to the substrate in the most efficient manner. The substrate may vary from paper to aluminum sheet to textile to any other substrates, such as plastics and metals.
In the early days, blankets were made from pure rubber which gave a much superior quality of image than lithographic plates used at that time, but it had its drawbacks. In the 1930s, the origination of synthetic rubber eliminated the problems inherent from the pure rubber, previously used.
Today, the blankets use different synthetic rubbers to increase their resistance. The primary synthetic rubber used today is Buna N, Neoprene, along with NVR (Nitrile Rubber), and EPDM (Ethylene Propylene Diene Monomer Rubber) to increase the durability of the blanket. To provide additional strength to the blanket, a backing with either fabric or metal is provided.
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This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Blanket Type
Based on the blanket type, the market is segmented into conventional printing blankets, UV printing blankets, combination printing blankets, and others.
Conventional printing blanket is likely to remain the most dominant blanket type with a share of >65% of the market over the next five years. High-quality print at a very competitive price is the major factor behind the dominance of conventional blankets.
UV printing blanket is likely to expand at the highest rate over the same period, driven by its ability to resist UV inks and help in UV printing.
By Substrate Type
Based on the substrate type, the market is segmented into paper & and paperboard, metal, textile, and others.
Paper & paperboard dominates the market with a share of >65% of the market and is expected to maintain its vanguard in the market during the forecast period as well. Paper & and paperboard printing majorly includes printing of newspapers, magazines, and corrugated boxes, used for packaging.
Asia-Pacific is the largest market for newspapers, magazines, and corrugated boxes, owing to the huge population base coupled with meteorically increasing disposable income and expanding economies, especially in China and India.
By Application Type
Based on the application type, the market is segmented into packaging, commercial, newspaper, and others.
Packaging application is expected to remain the most dominant segment of the market during the forecast period. Food & and beverages, cosmetics & and toiletries, and healthcare are the major applications of the packaging printing blankets market.
An increase in the demand for sustainable packaging and flexible packaging along with cost-effectiveness and reduced packaging waste is the prime factor, driving the growth of the packaging segment. All the application types are expected to witness healthy growth during the forecast period.
Which Region is expected to remain the largest market?
In terms of region, Asia-Pacific is projected to remain the largest market with a share of >40% of the market as well as the fastest-growing market during the forecast period, driven by significant economic development in the region, increasing disposable income, surging demand for flexible and easy-to-carry packaging, and vastly expanded print media industry. China and India are the growth engines of the region’s market, propelled by a huge consumer base, significant economic growth, and a consistent supply chain. Availability of vast raw material sources, expanding the industrial sector, and readily available customer base are some of the factors, strengthening the eco-system of the Asia-Pacific’s printing blankets market.
Europe and North America are the other major markets for printing blankets, primarily driven by the packaging industry. Increasing demand for flexible and easy-to-carry packaging, rising concern towards the use of plastics in the packaging industry, and significant investment towards sustainable product development are the major factors, driving the growth of the North American and European printing blankets market. Increasing digitalization in these regions is acting as a major constraint towards the growth of the printing blankets market as it is severely impacting the stature of the newspaper and commercial print media industry.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the printing blankets market:
Continental AG (ContiTech)
Fujikura Composites Inc.
Kinyosha Co., Ltd.
Meiji Rubber and Chemical Co., Ltd.
CNI XINYUAN Ltd. (Airdot)
Shanghai Chen Jie Printing Material Co., Ltd.
Key questions answered by the report.
What is the projected CAGR for revenue from the printing blankets market during the forecast period?
What would the market be valued at by 2024?
What is a major driving factor for the growth of the market?
Which region accounted for the largest revenue share in the printing blankets market?
Which are the major market players?