Industrial Printers Look to Medical Market for Growth
SGIA benchmarking report reveals industry ups and downs.
SGIA has released its annual industry benchmarking report for the industrial printing sector. The report is based on a survey of 37 industrial printers who shared information on their equipment purchases, hiring practices, and market expectations.
Respondents pointed toward the medical industry as the market area with the most growth, and while packaging is currently the least-served product area, companies said containers were poised to be the product area with the most growth.
Sales growth appeared to slow, compared to survey results from 2015. Only 46 percent of companies reported increased sales, down from 70 percent at the beginning of 2015. Similarly, 60 percent reported increased production, compared with 80 percent from the previous year. Overall, the median sales growth was 12 percent.
The most commonly purchased equipment in 2015 was screen-printing prepress production tools and software. In the digital realm, solvent and UV-curable roll-to-roll printers less than 96 inches wide were most common. Eighty-nine percent of companies made a production-related purchase of $5000 or more in 2015; 85 percent of those were more than $50,000.