You should use PNG format less than you think

PNG (Portable Network Graphics) and EXR (OpenEXR) are both popular image formats, yet they serve distinct purposes and exhibit notable differences. PNG, a lossless compression format, is widely used for web graphics and digital images. It supports transparency and is well-suited for images with sharp edges or text due to its ability to maintain crisp detail. However, PNG may not be the best choice for high-dynamic-range (HDR) images due to its limited color depth.

In many other cases (rendering textures or final renders without transparency) it can be also a good idea to switch to EXR DWAA. Learn more in the video below.

Editors note: you should take this video with a grain of salt though, because there are some things that need to be clarified. Author posted some explanations after releasing the video:

• The PNG/EXR difference comparison does not show only compression. It shows every difference between the two.
• Often, TIFF is the preferred deliverable for print.
• Cryptomattes ought not be lossy. Use ZIP 32-bit.
• Bit-depth doesn't only double the amount of data; it does so for each channel. So an RGB image with double bit depth increases six-fold in precision, while only doubling in data. Good trade-off.
• DWAA doesn't store 32-bit information, which is why the sizes are the same in the chart. (Unless the passes are named in a specific way.)
• EXR doesn't bake in the tone-mapping. If you need that, TIFF is a good alternative to PNG.