Asia Pacific Tactile Printing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Packaging & Labels, Tactile Graphics, and Secure Documentation) and End User (Braille Users, Industrial, and Government & Defense)

Tactile Graphics Segment is Expected to be Fastest Growing During the Forecast Period for APAC Region

According to this research study titled “APAC Tactile Printing Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Application and End User,” the market is expected to reach US$ 845.81 million by 2028 from US$ 476.33 million in 2021. The market is estimated to grow at a CAGR of 8.5% from 2021 to 2028. The report provides trends prevailing in the APAC tactile printing market along with the drivers and restraints pertaining to the market growth. Big efforts to promote tactile graphics adoption in developing countries is the major factor driving the growth of the APAC tactile printing market. However, issues associated with high initial investments and maintenance expenses hinders the growth of APAC tactile printing market.

The APAC tactile printing market is segmented into application, end-user, and country. Based on application, the APAC tactile printing market is segmented into packaging & labels, tactile graphics, & secure documentation. Packaging and labels segment held a substantial market share in 2020. Based on end-user, the APAC tactile printing market is segmented into braille users, industrial sector, and government & defense sector. Industrial segment held a substantial market share in 2020.

The APAC is characterized by the presence of many developing countries, improving economies, expanding industrial sector, and huge population. The high-paced urbanization and industrialization, coupled with high investments in industrial and commercial developments, in developing countries of the region is offering ample growth opportunities to the tactile printing market players. However, the ongoing COVID-19 pandemic is causing havoc in several countries in APAC. China is considered as a leader in the packaging industry, and the economy is likely to decrease up to 50% during and after the pandemic, as the companies with their packaging facilities in China have started shifting their businesses to India. Shutdown of various plants and factories in China is affecting the global supply chains and negatively impacting manufacturing, delivery schedules, and raw material sales. In India, most label printing companies are running at as low as 15-20% working capacity, while manufacturing companies are allowed to run at 50% capacity. Accommodation of workforces, alongside ensuring physical distancing, has been a challenge, and only small percentage of companies have been able to tackle it. In addition, due to sealed borders, the procurement of raw material such as ink, label stock, plates, and dies has become difficult. Schools and universities in the region are closed amid the second wave of COVID-19. This has affected the demand for tactile graphics and Braille printed study materials.

American Thermoform, Canon Inc, Index Braille, Kanematsu USA, Konica Minolta, Inc., Roland DG Corporation, and ViewPlus Technologies Inc are among the leading companies in the APAC tactile printing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, DGSHAPE, a subsidiary of Roland DG, releases latest generation DE-3 desktop engraver.

The report segments the APAC Tactile Printing Market as follows:

APAC Tactile Printing Market - By Application

• Packaging & Labels
• Tactile graphics
• Secure Documentation

APAC Tactile Printing Market - By End User

• Braille Users
• Industrial
• Government & Defense

APAC Tactile Printing Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC