UK book printing has benefitted from a significantly weaker pound since the recession started, which has insulated the market from some European competition.

In addition, last week’s announcement that China will allow its artificially deflated currency, the Yuan, to appreciate, means that UK buyers could see the cost of imported books start to rise.

One industry source said: "I don’t think the Yuan will be allowed to move very freely, but I think it will rise a bit – although on its own that won’t be enough to repatriate volume.

"But there are a couple of factors at play – shipping will become more expensive as the global economy picks up, while the cost of labour in Asia is on the rise.

"Skilled labour [in China] has woken up to its value and recently there have been strikes and wage increases of up to 30%-40%."

Meanwhile, in the UK and mainland Europe, the latest generation of four-colour high-speed inkjet printers, such as the HP T300, has been hailed by some as a great leveller.

"If vendors can get the click charge sorted out then you could see the Italians competing with the Far East," said one printer.

"And if the capital cost of the equipment is the same and the click is the same then the only difference for the UK will be the labour, which if the euro keeps dropping against the pound could mean some work coming back."