2022-23 State of the Industry Report

By Andrew D. Paparozzi

The unforgiving combination of a slowing American economy and continued material shortages, labor shortages, and cost inflation will pressure margins across the printing industry this year, according to the 2022-23 State of the Industry Report published by PRINTING United Alliance and sponsored by Canon.

The survey supporting the report includes 49 participants who define graphic and sign production as their primary business. Annual sales range from less than $250,00 to more than $400 million. Nearly 45.0% have diversified into commercial printing, 22.4% into promotional product printing, 14.3% into package printing/converting, and 8.2% into apparel decoration.

Just 29.5% expect business conditions to be better in 2023 than they were in 2022, while 70.5% expect conditions to be about the same (43.2%) or worse (27.3%). Concerns include “looming recession,” “continued increase in material and labor costs versus the ability/willingness of clients to pay higher prices,” and the high degree of “angst in the market.”

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Andy Paparozzi

Andrew D. Paparozzi Author's page

Andrew D. Paparozzi joined PRINTING United Alliance as Chief Economist in 2018. He analyzes and reports on economic, technological, social and demographic trends that will define the printing industry’s future. His most important responsibility, however, is being an observer of the industry by listening to the issues and concerns of company owners, executives and managers. Previously, he worked 31 years at the National Association for Printing Leadership. He has also taught mathematics, statistics and economics at various colleges. Andrew holds a Bachelor’s degree in economics from Boston College and a Master’s degree in economics — with concentrations in econometrics and public finance — from Columbia University.