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PAPER & PRINT SECTOR OVERVIEW-2020

Statistics, news & updates: everything you need to know about the Industrial Equipment Industry in India

 

Summary

India’s Paper and Print Industries show large potential. Demand for paper is growing, also due to an increase in demand for packaged products. Resources for the paper market are limited, but domestic production is increasing. The paper industry of India is providing employment to 400,000 people directly and 1.5 million indirectly. Paper consumption in India is approximately 15 million tonnes per annum. In addition, it is expected to reach 23.5 tonnes per annum by 2025. Some of the paper mills are existing for several decades, which make up-gradation and investments into newer machinery necessary. This opens up opportunities for manufacturing companies in the sector. The print market in India is growing as well. This is mainly because of the growing demand for high-qualitative products. In fact, the print machinery production registered a year-on-year growth of 20% in the last few years. Besides, the two sectors projected to grow the most are packaging and published printing.
Covid Impact
COVID had a huge impact on the paper and print industry would be an understatement. The paper and printing industry is going through a steep decline in volume because of its reliance on the education sector, commercial and promotional printing. 37.6% of businesses in India are implementing cost containment initiatives while 25.8% of businesses are modifying their financial plans to address the economic woes they faced. However, 28.9% of businesses were deferring or canceling their planned investments. With schools and colleges focus on virtual learning. With each and every institution and organization’s focus on cost-cutting, a lot of many colleges have opted for e-books which are cheaper than the printed books. Similarly, the demand for diaries, brochures, catalogs has been impacted because a lot of companies have gone digital. Exhibitions, which were major aspects of this industry was deeply affected. These annual exhibitions in India and abroad, provide manufacturers to showcase their innovations and also a place for printers to see new technologies of their peers.  The physical exhibitions are replaced with hybrid exhibitions following the Coronavirus guidelines so that those who are unable to travel can also be a part of such trade shows.
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