Global Market For Digital Textile Printing Is Projected To Expand At A CAGR Of 16.3% During The Forecast Period (2018-2028)
Global digital textile printing market analysis: More than 60% revenue to be generated by the direct to fabric segment in 2018, which is expected to increase further by the end of 2028
The global market for digital textile printing was valued at US$ 1,546.8 Mn in 2017 and is projected to expand at a CAGR of 16.3% during the forecast period (2018-2028)
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In terms ofapplication, technical textile is expected to be the most attractive segment in the digital textile printing market across the globe representing the highest CAGR in application segment of digital textile printing market. The demand for packaging converters and consumer brands to tailor their marketing communications has led to growing opportunities for the global digital textile printing technology in the packaging market. Digital textile printing technology is making improvements in terms of quality of print and lithographic & flexography printing technology providers are slowly shifting to digital printing.
China is expected to be at the forefront, spearheading the growth of the digital textile printing market, during the forecast period. According to the research by Future Market Insights, the China digital textile printing market has witnessed rapid growth in the past couple of decades. The APEJ region is characterized by a robust political, demographic, and economic ecosystem of the leading emerging economies; and a rapidly growing digital textile printing industry in the region will lead to optimum in growth levels in the coming decade.
End users of digital textile printing such as food & beverage, personal care, pharmaceuticals, automotive and other end use industries are increasingly adopting digital textile printing on their sales promotion devices such as Point-of-purchase displays and banners. Increasing competition in the digital textile printing market has led to growing sales of promotional activity, which increases the growth of digital textile printing market. Digital textile printing is used to print on sales promotional devices such as displays and banners attract the customers to test or buy the product. As compared to digital flexographic printing which is most frequently used in printing the banners for promotion, digital textile printing provides high clarity, glossy and eye catching graphic. Various color shades and color combinations can be achieved through digital textile printing.
Companies involved in the manufacturing of digital textile printing are rapidly providing the flexibility of buying and bargaining to printing enterprises which are into newspaper & magazine publications, commercial printing as well as advertising industries. The various advantages of digital textile printing over conventional printing technology has tremendously increased the usage of digital textile printing. Digital textile printing is also preferred due to its capability of printing on substrate. The trend of substrate printing on glass, aluminium, wood etc. will create an opportunity for digital textile printing in future.
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In recent years, there has been an increase in demand for digital textile printing in shrink sleeves. Customers are preferring digital textile printing technology due to its offering of customization for each label while printing. Another advantage is digital textile printing has lesser operational cost on shrink sleeves. Digital textile printing can provide labelling experience with affordable solutions for nutraceutical labels. This is attributed to various advantages such as convenience in changing the nutraceutical labels whenever government norms are changed. The time required for printing of nutraceuticals labels is lesser when done using digital textile printing solutions. Revenue from digital textile printing in North America is estimated to account for over 43% of the global digital textile printing market revenue, in 2018.
Key players of global digital textile printing market include Durst Group (Durst Phototechnik AG), Seiko Epson Corporation, Electronics For Imaging Inc., Roq International, Konica Minolta Inc., Kornit Digital Ltd., Mimaki Engineering Co., Ltd., Sawgrass Technologies Inc, , Spgprints B.V., The M&R Companies.
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