Introduction
China's book printing market is rising, and for good reason. Books provide a convenient means for people to learn new information and communicate with others in a nation with low literacy rates. The Chinese government also generously supports the book publishing sector by giving tax cuts and subsidies to businesses who make investments in it.
Market Size and Growth Analysis
Through 2020, the Chinese magnetic books printing market, which is currently valued at over RMB 2 trillion (US$290 billion), is anticipated to increase at a 10% annual rate. Trade publications and educational publishing dominate the industry, accounting for more than 60% of all sales in 2015. However, it is anticipated that the market will increase in the near future due to the expansion of digital books and e-books.
Due to the rising local and worldwide demand for books, the Chinese book printing sector has experienced consistent expansion over the past few years. The Chinese book printing sector brought in RMB 1.5 trillion (US$230 billion) in sales in 2015. Through 2020, this amount is anticipated to increase by 10% yearly, reaching RMB 2.1 trillion (US$300 billion).
The dominant segments of the Chinese book printing industry are trade publication and education publishing. In 2015, these two segments accounted for over 60% of the total sales. However, the growth of digital books and e-books is expected to drive the market higher in the near future. In 2016, digital books constituted 19% of total sales, while e-books were responsible for 21%.
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Regional Segmentsation
The China's book printing industry market size on art books printing analysis report provides a comprehensive overview of the industry including its definition, growth trends, major players, and regional segments. The report also covers the market dynamics including Porter's five forces analysis and tactical insights on the key developments in the industry.
Major Players in China's Book Printing Industry:
- Commercial Press Limited
- East Press Ltd.
- HKTDC (Hong Kong Trade Development Council)
- Longquan Printing Co., Ltd.
- Shanghai Wenshi Printing & Publishing Co., Ltd.
Drivers and Restraints for the Book Printing Industry in China
Around 150,000 people are employed by China's book printing business, which has a US$2.3 billion market value. However, the internet and e-commerce are putting further pressure on the sector, and traditional book sales are also slowing down. Since 2010, the market growth for books has decreased, from 14% in 2010 to 6% in 2014.
The Chinese book printing industry is influenced by a variety of factors, both positive and negative. These include shifting reading habits toward reading digital forms, more competition from foreign producers, and the expanding popularity of electronic books, which has resulted in a fall in sales of physical books.
The sector is constrained by factors such as the high cost of raw materials, energy, and labor; a lack of skilled personnel; and government prohibitions on book publishing.
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Industry Outlook
According to a survey published by the China Book paperback printing Industry Association (CBPI) in July 2016, the market for Chinese book printing is predicted to reach US$ 2.5 billion by 2020. The rise in domestic and international book sales as well as government backing for the publishing sector are mostly to blame for the expansion of China's book printing business.
The survey also observed that state-owned businesses (SOEs) presently control the majority of the Chinese book printing market, with private enterprises making up a very small portion of it. The CBPI anticipates that this tendency will continue because private businesses frequently struggle to achieve demanding quality standards and cannot compete on price with SOEs.
Additionally, the report noted that the Chinese book printing industry is facing several challenges, including a high level of competition and a lack of innovation. The CBPI expects these challenges to be overcome by focusing on developing new technologies and expanding into new markets.