Today: February 10, 2016, 5:50 am

United States printing market: $65.8 billion industry by 2018
Printing in the US - Industry Market Research Report - a new market research report on 2014-04-18 11:43:02
The United States Printing market has contended with a variety of challenges over the past five years. Consumers are increasingly favoring digital alternatives, such as online media, over printed materials.

For many media products, the printed word has proven to be too slow to produce and too costly to distribute. As a result, newer forms of media, such as digital, have been leeching away this industry´s demand. With revenue expected to decline at an average annual rate of 5.2% in the five years to 2013, the Printing industry as a whole is in decline. In 2013, revenue is expected to continue this trend, falling 1.2% during the year to an estimated $77.7 billion.

Adding to the industry´s woes, decreasing sales volumes and downward pressure on unit selling prices have hampered industry profit margins over the past five years. Printing also requires substantial capital investment in new technology to remain competitive, even at times of excess capacity. Such overcapacity has contributed to the long-term trend of industry consolidation. In the five years to 2013, the number of commercial printing companies is expected to fall by an average of 3.6% annually to 23,959 firms.

Industry consolidation has allowed the larger printers to adopt more efficient equipment, while simultaneously slashing employment and wages. These trends were exemplified when Quad/ Graphics acquired World Color Press in July 2010. The company subsequently closed several plants and reduced its employee headcount by 2,200. In the five years to 2013, industry leader RR Donnelley, acquired over 16 companies in the five years to 2013, while cutting 5,000 jobs. Plant closures and staff consolidations have caused industry employment to fall at an expected annualized rate of 5.7% to 432,014 employees in the five years to 2013.

The Printing industry is projected to continue its decline in the five years to 2018, though at a slower pace. Revenue is forecast to contract at an average rate of 3.3% per year and total $65.8 billion in 2018. Substitutes to commercially printed material, such as online media and advertising, will continue to adversely affect industry activity. In order to adapt to declining demand, printers will diversify into cross-media products, including multimedia layout and design.

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