Gravure Printing Machinery Market

The global market for gravure printing machinery is projected to see substantial growth from 2022 to 2030, with an anticipated CAGR of +13.3% in market volume and +21.9% in market value. Consumption and production trends have shown upward trajectories, with notable increases in countries like Armenia and India. Import and export trends also highlight growth opportunities, with China and Italy leading the way in exports and India showcasing the highest export price per unit. Overall, the market is poised for continued expansion and development.

Market Forecast

Driven by increasing demand for gravure printing machinery worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +13.3% for the period from 2022 to 2030, which is projected to bring the market volume to 181K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +21.9% for the period from 2022 to 2030, which is projected to bring the market value to $7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Gravure Printing Machinery

In 2022, approx. 67K units of gravure printing machinery were consumed worldwide; which is down by -36.9% on 2021. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 302K units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global gravure printing machinery market value dropped dramatically to $1.4B in 2022, with a decrease of -38.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted resilient growth. As a result, consumption reached the peak level of $23B. From 2017 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (17K units), Italy (12K units) and Japan (6.1K units), with a combined 53% share of global consumption. India, South Korea, Armenia, the UK, Canada, Nigeria and Poland lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Armenia (with a CAGR of +143.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($495M) led the market, alone. The second position in the ranking was held by South Korea ($175M). It was followed by Poland.

In India, the gravure printing machinery market increased at an average annual rate of +65.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-3.1% per year) and Poland (+9.3% per year).

In 2022, the highest levels of gravure printing machinery per capita consumption was registered in Armenia (1,013 units per million persons), followed by Germany (205 units per million persons), Italy (205 units per million persons) and South Korea (78 units per million persons), while the world average per capita consumption of gravure printing machinery was estimated at 8.5 units per million persons.

From 2012 to 2022, the average annual growth rate of the gravure printing machinery per capita consumption in Armenia totaled +142.8%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+2.5% per year) and Italy (-4.5% per year).

Production

World Production of Gravure Printing Machinery

Global gravure printing machinery production contracted to 70K units in 2022, declining by -10.1% on the previous year. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 18%. As a result, production reached the peak volume of 88K units. From 2020 to 2022, global production growth failed to regain momentum.

In value terms, gravure printing machinery production dropped to $924M in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 13%. As a result, production reached the peak level of $950M. From 2015 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Germany (17K units), Italy (15K units) and Japan (9.2K units), together accounting for 58% of global production. China, South Korea, India and France lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +30.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Gravure Printing Machinery

In 2022, approx. 14K units of gravure printing machinery were imported worldwide; falling by -68.1% on 2021. Over the period under review, imports, however, continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2016 when imports increased by 1,016% against the previous year. Global imports peaked at 232K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, gravure printing machinery imports declined significantly to $202M in 2022. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Global imports peaked at $406M in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, Armenia (3K units), distantly followed by India (1.4K units), Nigeria (1.2K units) and Poland (0.8K units) represented the main importers of gravure printing machinery, together creating 45% of total imports. Turkey (567 units), Fiji (560 units), Canada (519 units), the Philippines (471 units), Egypt (431 units), Qatar (417 units), Mexico (370 units), Italy (351 units) and Vietnam (337 units) held a little share of total imports.

Armenia was also the fastest-growing in terms of the gravure printing machinery imports, with a CAGR of +122.8% from 2012 to 2022. At the same time, Fiji (+68.7%), Qatar (+33.6%), India (+31.3%), Egypt (+30.1%), Canada (+28.0%), Poland (+17.0%), Turkey (+16.0%), Mexico (+14.4%), Italy (+9.9%) and Vietnam (+5.4%) displayed positive paces of growth. By contrast, Nigeria (-1.9%) and the Philippines (-33.6%) illustrated a downward trend over the same period. Armenia (+21 p.p.), India (+8.7 p.p.), Poland (+4.1 p.p.), Fiji (+3.9 p.p.), the Philippines (+3.3 p.p.), Canada (+3.2 p.p.), Turkey (+2.8 p.p.), Egypt (+2.7 p.p.), Qatar (+2.7 p.p.) and Mexico (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while Nigeria saw its share reduced by -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest gravure printing machinery importing markets worldwide were Turkey ($19M), Vietnam ($15M) and India ($14M), with a combined 24% share of global imports. Nigeria, Poland, Egypt, Armenia, Fiji, Mexico, the Philippines, Italy, Canada and Qatar lagged somewhat behind, together comprising a further 12%.

Among the main importing countries, Fiji, with a CAGR of +82.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average gravure printing machinery import price amounted to $14,075 per unit, rising by 154% against the previous year. In general, the import price, however, continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of 1,172%. Over the period under review, average import prices attained the peak figure at $37,310 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($45,318 per unit), while Qatar ($95 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Fiji (+8.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Gravure Printing Machinery

In 2022, shipments abroad of gravure printing machinery increased by 2.7% to 18K units, rising for the second consecutive year after three years of decline. In general, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.2% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 110%. As a result, the exports reached the peak of 24K units. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, gravure printing machinery exports totaled $216M in 2022. Over the period under review, exports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 25%. Over the period under review, the global exports reached the peak figure at $342M in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (5.2K units), distantly followed by Japan (3.3K units), France (3.1K units) and Italy (3.1K units) represented the key exporters of gravure printing machinery, together mixing up 81% of total exports. South Africa (533 units), Taiwan (Chinese) (526 units) and India (386 units) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +35.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($66M), Italy ($40M) and Japan ($14M) were the countries with the highest levels of exports in 2022, with a combined 56% share of global exports. India, Taiwan (Chinese), France and South Africa lagged somewhat behind, together comprising a further 7.4%.

Taiwan (Chinese), with a CAGR of +4.5%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average gravure printing machinery export price amounted to $11,830 per unit, with an increase of 3.9% against the previous year. In general, the export price, however, showed a deep downturn. The pace of growth was the most pronounced in 2020 an increase of 32%. Over the period under review, the average export prices reached the maximum at $22,741 per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($21,113 per unit), while South Africa ($222 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform