Thermal Inkjet Printer Market Research Report By Ink Type (Solvent-Based Inks, Water-Based Inks, UV-Curable Inks), By Application (Product Coding and Marking, Packaging, Shipping and Logistics, Manufacturing), By Substrate (Paper and Cardboard, Plastic and Film, Metal, Glass), By Printhead Technology (Continuous Inkjet Technology, Drop-on-Demand Technology), By Print Speed (Low-Speed (under 50 m/min), Medium-Speed (50-200 m/min), High-Speed (over 200 m/min)) and By Regional (North America, Europe, South America, Asia Pacific, Middle East an

Global Thermal Inkjet Printer Market Overview

Thermal Inkjet Printer Market Size was estimated at 2.06 (USD Billion) in 2022. The Thermal Inkjet Printer Market Industry is expected to grow from 2.24(USD Billion) in 2023 to 4.8 (USD Billion) by 2032. The Thermal Inkjet Printer Market CAGR (growth rate) is expected to be around 8.82% during the forecast period (2024 - 2032).

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Thermal Inkjet Printer Market Trends Highlighted

The thermal inkjet printer market is experiencing significant expansion due to the increasing demand for high-quality and affordable printing solutions across industries. This has been facilitated by digitization and growth in e-commerce, which has necessitated quick and dependable printers for the rising need for product labels and packaging. In addition, improvements in inkjet technology, including high-resolution printing and advanced ink compositions, are extending the application range of thermal inkjet printers to sectors such as healthcare, manufacturing, and retail.

For instance, there is an increasing demand for eco-friendly inkjet printers that reduce waste and have little impact on the environment because of sustainable practices. Moreover, digital textile printing offers new possibilities to thermal inkjet printers since they deliver accurate color reproduction on different fabrics at high speeds. Lastly, emerging technologies like IoT platforms with integrated sensors can be used to improve printer functionality or automate some processes, thus creating space for market expansion.

An open door awaits exploring new technologies like integrating sensors with IoT platforms that would enhance the functioning of these machines as well as automate other tasks. Also relevant here is the growing adoption of green practices that result in the increased desire for environment-friendly ink jet products associated with reduced wastage. Additionally, digital textile printing is becoming a promising opportunity for thermal inkjets due to their capability to reproduce colors accurately while also delivering output within short time periods over various fabrics.

The present state of affairs in the market shows a proliferation of multi-function printers that print, scan and photocopy all at once due to the growing requirements from modern offices and homes. The incorporation of wireless connectivity options like Bluetooth and Wi-Fi has made it easy to operate from these gadgets, hence achieving seamless printing. Additionally, there is an increasing preference for cloud-based printing services where users can manage their printing tasks away from their locations remotely.

Thermal Inkjet Printer Market Drivers

Rising Demand for Personalized and Variable Data Printing

Thermal inkjet printers are increasingly being used for personalized and variable data printing applications such as direct mail, product labels, and packaging. This is due to the ability of thermal inkjet printers to produce high-quality full-color images or texts on various substrates like paper, plastic and metal. Furthermore, thermal inkjet printers are inexpensive and easy to run, so they can be utilized by all types of businesses. The rise in e-commerce has also boosted demand for thermal inkjet printers.

Shipping labels and related documents must be printable quickly and efficiently by E-commerce firms. Thermal inkjet printers are suitable due to their speed, reliability, and wide variety of substrate choices. The  Thermal Inkjet Printer Market Industry is expected to grow significantly in the coming years because of increased demand for personalized and variable data printing applications. Similarly, the market is anticipated to benefit from the growth of the e-commerce sector.

Advancements in Thermal Inkjet Technology

On the other hand, this technology is likely to become more popular with trends in the market sector of thermal inkjet printers. Thermal inkjet technology has witnessed several developments that have resulted in better printing quality, higher speeds and reduced operational costs. Consequently, they are becoming a better choice in more and more areas. Simultaneously, there are various novel types of thermal inkjet inks and printing substrates under development and testing by both researchers and business people as well; hence these may extend this technology’s applications more widely.

 Growing Adoption of Industrial Inkjet Printing

Such a method of print is applied more and more in industry. Thermal inkjet printers are used in the industry for inkjet printing. They are very reliable and affordable. They are designed to print in a continuous mode on a large variety of surfaces, such as metal, plastic, glass, and wood. They can print high-quality pictures and words on products or cartons at high speed. The industrial press is based on the Continuous Inkjet Printing CIP technology.The expanding use of industrial inkjet printing is related to the necessity of manufacturers to enhance production efficiency and product quality. Thus, thermal inkjet printers enable manufacturers to realize a full range of important priorities, providing reliable work, relatively low price, high resolution of images, and unprecedented speed.

Thermal Inkjet Printer Market Segment Insights

Thermal Inkjet Printer Market Ink Type Insights

The Thermal Inkjet Printer Market is segmented by Ink Type into Solvent-Based Inks, Water-Based Inks, and UV-Curable Inks. In 2023, the Solvent-Based Inks segment held the largest market share, accounting for around 45% of the  Thermal Inkjet Printer Market revenue. This is attributed to their excellent adhesion properties, making them suitable for printing on a wide range of substrates, including plastics, metals, and glass. However, concerns regarding their environmental impact and stringent regulations are expected to hinder the growth of this segment in the coming years.Water-Based Inks are projected to witness the fastest growth during the forecast period, owing to their eco-friendly nature and cost-effectiveness. These inks contain water as the primary solvent, making them less harmful to the environment compared to solvent-based inks. Additionally, water-based inks offer better print quality and are less likely to clog the printhead, making them ideal for high-volume printing applications. UV-Curable Inks are gaining popularity due to their ability to cure instantly when exposed to ultraviolet light, resulting in durable and scratch-resistant prints.This makes them suitable for industrial applications, such as product labeling and packaging. The  Thermal Inkjet Printer Market for UV-Curable Inks is expected to grow at a CAGR of over 9% during the forecast period, driven by the increasing demand for high-quality printing solutions. Overall, the Ink Type segment of the Thermal Inkjet Printer Market is expected to continue to evolve, with each type offering unique advantages and applications. The adoption of eco-friendly inks and the growing demand for high-quality printing solutions are expected to drive the growth of this market in the coming years.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Thermal Inkjet Printer Market Application Insights

Applications, such as product coding and marking, packaging, shipping and logistics, manufacturing, and others, are segments of the  thermal inkjet printer market. Of these, the product coding and marking segment in 2023 topped the market in terms of revenue and is expected to exhibit dominance through the period of forecast. The expansion of this segment can be attributed to the increasing uptake of thermal inkjet printers across various industrial applications such as food and beverage, pharmaceuticals and electronics, to name a few. These printers help in printing vital information related to products, such as batch numbers and expiration dates, and logos directly on products or packing.Thermal inkjet printers provide high-quality prints with fast printing speed with the capability of printing on a broad range of substrates. Thus, the product coding and marking segment dominates the  thermal inkjet printer market and is expected to demonstrate major growth over the upcoming years.

Thermal Inkjet Printer Market Substrate Insights

Paper and Cardboard held the largest market share of 40% in 2023 and is expected to continue its dominance throughout the forecast period. The growth can be attributed to the extensive usage of paper and cardboard in packaging applications, such as food and beverage, pharmaceutical, and consumer goods industries. The plastic and Film segment is projected to witness significant growth during the forecast period 2024-2032. The increasing demand for flexible packaging solutions in various end-use industries, including food and beverage, pharmaceuticals, and consumer electronics, is driving the growth of this segment.Metal and Glass segments are also anticipated to contribute to the overall market growth. The  Thermal Inkjet Printer Market is segmented into various substrates, including Paper and Cardboard, Plastic and Film, Metal, and Glass.

Thermal Inkjet Printer Market Printhead Technology Insights

The  Thermal Inkjet Printer Market is segmented by Printhead Technology into Continuous Inkjet Technology and Drop-on-Demand Technology. Continuous Inkjet Technology held the largest market share in 2023, accounting for over 60% of the  Thermal Inkjet Printer Market revenue. This is due to its high-speed printing capabilities and ability to produce high-quality images. Drop-on-Demand Technology is expected to grow at a faster CAGR during the forecast period, owing to its lower cost and increased adoption in industrial applications. The  Thermal Inkjet Printer Market segmentation provides insights into the key trends and developments in the industry, helping stakeholders make informed decisions and plan effective strategies.

Thermal Inkjet Printer Market Print Speed Insights

Within the Thermal Inkjet Printer Market, segmentation based on Print Speed holds significant importance, influencing the market growth and dynamics. The market is primarily categorized into three sub-segments Low-Speed (under 50 m/min), Medium-Speed (50-200 m/min), and High-Speed (over 200 m/min). Low-Speed printers cater to low-volume printing requirements in various industries, including packaging, manufacturing, and pharmaceuticals. These printers are characterized by their affordability and compact size. The Medium-Speed segment holds a significant share of the  Thermal Inkjet Printer Market revenue due to its versatility and adaptability to a wide range of applications.Medium-Speed printers offer a balance between speed and print quality, making them suitable for commercial printing, industrial coding, and product marking. The High-Speed segment is gaining traction in industries demanding high-throughput printing, such as logistics, warehousing, and distribution. These printers are designed to handle large print volumes at accelerated speeds, maximizing efficiency and productivity. Technological advancements and the growing need for fast and accurate variable data printing drive the growth of the High-Speed segment.Market data indicates that in 2024, the Thermal Inkjet Printer Market is projected to reach a valuation of approximately USD 2.4 billion, with the Print Speed segment playing a crucial role in shaping the market dynamics.

Thermal Inkjet Printer Market Regional Insights

The regional segmentation of the  Thermal Inkjet Printer Market offers insights into the market's geographic distribution and performance. North America holds a significant share of the market due to the presence of major players, technological advancements, and high adoption rates. Europe follows closely, driven by strong demand from various industries. The Asia-Pacific region is expected to witness substantial growth in the coming years, fueled by rapid industrialization and expanding economies. South America and the Middle East and Africa (MEA) regions are anticipated to contribute to the market's growth due to increasing investments in infrastructure and manufacturing sectors.This regional segmentation provides valuable data for businesses to tailor their strategies and target specific markets with the highest growth potential.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Thermal Inkjet Printer Market Key Players And Competitive Insights

There are many major players in this industry that are trying to secure a larger portion of the market. Therefore, leading Thermal Inkjet Printer Market players invest in research and development in order to come up with innovative products and technologies. The Thermal Inkjet Printer Market is expected to grow significantly in the forthcoming years as an increasing number of companies consider digital printing solutions. Thus, the competitive landscape is expected to remain fairly fragmented. Some small players will be acquired by larger ones, thus leading to certain consolidations. As for Epson, it is one of the most prominent players in the given market. This company offers a broad range of thermal inkjet printers, including desktop, wide-format, and industrial models. Moreover, the printers from this firm are known for their quality as “Epson is a brand that is synonymous with quality printers and the latest innovative technology”. This company enjoys a strong presence in many developed and developing countries or large markets. Another key OEM in this market is HP which relies on a highly diversified product line that includes “desktop, wide-format, and industrial” models. HP printers are also known for their quality and reliability. This company is a major player in many large or growing markets.

Key Companies in the Thermal Inkjet Printer Market Include

• Toshiba Tec Corporation


• Xaar plc


• KBAMetronic AG


• DataLase


• Leibinger GmbH


• Citronix


• Linx Printing Technologies


• Markem Imaje


• Videojet Technologies


• Domino Printing Sciences


• Hitachi Industrial Products


• Dover Corporation


• Hymmen GmbH


• Fujifilm Dimatix


• Willett America, Inc.

Thermal Inkjet Printer Market Industry Developments

The  thermal inkjet printer market is projected to reach USD 4.8 billion by 2032, exhibiting a CAGR of 8.82% during the forecast period (2024-2032). The growing demand for high-quality printing in various industries, including packaging, manufacturing, and retail, is a key factor driving market growth. Additionally, advancements in inkjet technology, such as the development of water-based inks and improved printhead designs, are enhancing print quality and efficiency. The increasing adoption of thermal inkjet printers in industrial applications, where durability and reliability are crucial, is further contributing to market expansion. Recent developments include the launch of new printer models with advanced features, such as high-resolution printing and faster print speeds, by key players like Domino Printing Sciences and Videojet Technologies. The market is witnessing strategic partnerships and acquisitions, such as the collaboration between Markem-Imaje and Software, to strengthen product offerings and expand market presence.

Thermal Inkjet Printer Market Segmentation Insights

• Thermal Inkjet Printer Market Ink Type Outlook
  
  
  
  • Solvent-Based Inks
  
  
  • Water-Based Inks
  
  
  • UV-Curable Inks
  
  
  
  


• Thermal Inkjet Printer Market Application Outlook
  
  
  
  • Product Coding and Marking
  
  
  • Packaging
  
  
  • Shipping and Logistics
  
  
  • Manufacturing
  
  
  
  


• Thermal Inkjet Printer Market Substrate Outlook
  
  
  
  • Paper and Cardboard
  
  
  • Plastic and Film
  
  
  • Metal
  
  
  • Glass
  
  
  
  


• Thermal Inkjet Printer Market Printhead Technology Outlook
  
  
  
  • Continuous Inkjet Technology
  
  
  • Drop-on-Demand Technology
  
  
  
  


• Thermal Inkjet Printer Market Print Speed Outlook
  
  
  
  • Low-Speed (under 50 m/min)
  
  
  • Medium-Speed (50-200 m/min)
  
  
  • High-Speed (over 200 m/min)
  
  
  
  


• Thermal Inkjet Printer Market Regional Outlook
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa