Printing Blanket Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The printing blanket market was valued at USD 876.3 million the previous year and is expected to register a CAGR of 4.34%, reaching USD 1.12 billion over the forecast period. Growing demand from flexible packaging-based applications and demand for high-quality packaging graphics are expected to drive the market. The demand for flexible packaging applications is growing faster than in many other forms. It includes e-commerce, digital printing, and sustainability trends, which can drive market development and growth.

Key Highlights

• Printing blankets are in high demand since they are essential to printing. Blankets aid in the transmission of ink from the printing press to the paper and are also required to create the proper degree of pressure. Printers must keep a consistent supply of blankets to generate high-quality prints. Another factor increasing the demand for printing blankets is the advancement in digital printing technology. With this technology, there is a greater need for large-format printing, which necessitates a larger blanket size. Digital printing's improved quality and efficiency also increased its popularity among businesses and consumers.
• Furthermore, printing blankets can be used in flexible packaging applications for high-quality printing. Offset printing blankets are commonly used for lithographic printing, which can be used for flexible packaging printing applications. Some examples of flexible packaging applications include wide web printing for pouches, wrap-around, and more. In addition, digital flexible packaging applications are becoming more popular in the market, facilitating high-quality, on-demand printing of flexible packaging with lower setup costs and shorter production runs than traditional lithographic printing.
• According to the Flexible Packaging Association's (FPA) 2022 State of the Flexible Packaging Industry Report, the flexible packaging business in the United States generated USD 39 billion in revenue in 2021, up from USD 34.8 billion in 2020, with shipments totaling 27 billion pounds in 2021. Furthermore, flexible packaging is mainly used for food. It contributed to more than 60% of the total market in 2021. The massive rise in flexible packaging sales will likely create lucrative opportunities for the studied market to grow.
• On the other hand, printing blankets face several challenges in the printing process. Common challenges include improper bearer pressure, packing damage, curled edges, and smashed blankets. These issues can lead to printing defects, such as voids or dark specks in print, as well as increase downtime and reduce productivity. In addition, the rubber material of the blanket can deteriorate over time and affect the quality of the print, requiring regular maintenance and replacement. The challenges of printing blankets highlight the importance of properly handling and maintaining the equipment to ensure optimal performance and high-quality prints.
• The rise in the medical and healthcare industry after the effect of the pandemic is driving the studied market. With the increasing demand for medical and healthcare supplies, the flexible paper and plastic packaging market may expect growth in the studied market. For instance, Envy Pack continued to supply medical and healthcare packaging solutions in clear pouches pockets and adhesive-backed sleeves, with and without print, to meet the demand.

Printing Blanket Market Trends

Packaging to be the Most Significant Application of Printing Blankets

• Packaging printing uses various printing techniques, such as offset lithography, rotogravure, flexography, digital printing, screen printing, and various ink types, to print packaging materials such as glass, metal, plastic, labels, paper, and paperboard. It is utilized in various industries, including pharmaceuticals and food and beverage.
• In the offset printing procedure, a rubber printing blanket is employed. For its initial usage in a printing machine, it is stretched around a printing cylinder and transfers the ink from the printing plate to the paper. The offset is generally needed for paperboard packaging, particularly for tiny retail and cosmetic packaging. Offset printing produces sharper and more vivid prints for smaller words and artwork. To effectively convey critical information to customers, it is imperative to maintain clear and concise information on packaging. Packaging made of paperboard went up in 2022 and is expected to grow more for the forecast period.
• Further, for flexible packaging, digital printing is becoming increasingly essential as it fulfills a variety of market and consumer needs that can be met with a high-end digital production asset. According to EDELPA SA, a provider of flexible packaging material, the global production volume of flexible packaging was expected to increase from 27.4 million metric tons in 2017 to 33.5 million metric tons in 2022.
• With the growing demand from packaging companies, manufacturers are consistently launching newer products in the market. In June 2022, Aarushi Agencies displayed the newest selection of Novurania, Kris, and Helios solutions. The top-of-the-line UV Printing Blankets NTR 150 Phantom are the newest addition to the Novurania line. Aarushi gave the Printpack guests a demonstration of the blanket that had just been released in January 2022. For barring and cutting blankets to produce blankets that match the highest international standards, Aarushi includes one of the greatest blanket conversion facilities in the nation. For the greatest outcomes, the top offset packaging firms in the nation continue to use their blankets for this reason.
• Increased cooperation among the convertors and retailers surrounding packaging led to the development of innovative ways of customer enticement. Online shopping and curating personalized experiences further aided the market for commercial printing in the packaging domain. Owing to this, many packaging companies are investing in commercial printing solutions, thus boosting the market's growth.

Asia-Pacific to Dominate the Market

• The Asia-Pacific region accounts for significant market growth due to increasing demand from critical areas like India, China, the Philippines, Thailand, and Vietnam. Factors such as high penetration of print media, increasing investment in print media advertising, a rise in e-commerce, and urbanization are supporting the growth of the printing market in the region.
• Over the years, the growth of the paper print and packaging sectors across the Asia-Pacific region is stable. For instance, according to the National Bureau of Statistics of China, the production volume of cardboard and processed paper in China was about 11.57 million metric tons in August 2022.
• Similarly, according to Thailand's Ministry of Industry and Ministry of Commerce, the export value of pulp, paper, and print media in the country amounted to approximately USD 654.1 million in the third quarter of 2022.
• Textile printing is another key area that is creating significant opportunities for the growth of the market studied. According to Invest India, the domestic apparel and textile industry in India contributes 7% of industry output in value terms, 5% to the country's GDP, and 12% of the country's export earnings.
• Additionally, strategic moves made by global players fuel the market's growth in the region. Considering the demand in the region, various local and global market players are expanding their presence in key countries such as India, China, and Japan. For instance, in October 2022, Bobst announced two important senior actions in the Asia Pacific (APAC) region. The company plans to expand in the region's key countries: Japan, Southeast Asia, South Korea, India, Oceania, and China. The company considers the region extremely important for its growth.
• Additionally, the increasing popularity of print marketing is expected to drive demand for offset printing services in the region. Many businesses are beginning to recognize the value of print marketing and are investing more in printed materials such as brochures, flyers, and posters. It is fueling demand for offset printing services, and the technological advancement in offset printers would drive the studied market in the region.

Printing Blanket Industry Overview

The printing blanket market is fragmented due to the presence of many players. In addition, market penetration is growing with a strong presence of major players in established markets. Furthermore, significant players are developing their products and expanding their footprint globally, further creating competitiveness in the market studied. Some major players operating in the market include Continental AG, Habasit AG, Kinyosha Co. Ltd., and Flint Group, among others.

• In May 2023, Flint Group launched its PRISM sustainability framework, which outlines its plans to reduce its environmental impact. The company's sustainability framework includes a range of targets, such as circular economy product development, reducing operational impacts, and building a diverse workforce.

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