Digital Textile Printing Market to Witness Robust Expansion throughout the Forecast 2018-2027
Future Market Insights (FMI) delivers key insights on the global digital textile printing market in its published report titled “Digital Textile Printing Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027”. In terms of revenue, the global digital textile printing market is projected to expand at a CAGR of 16.3% during the forecast period, owing to numerous factors on which FMI sheds light in this report. The Asia Pacific digital textile printing market is expected to remain in the leading position during the forecast period.
Digital Textile Printing Market: Overview & Analysis
Digital textile printing is defined as printing technology that prints packaging materials with computerized inkjet printers and laser printers. Digital textile printing requires minimal press setup operations which reduces the turnaround time. Consequently digital textile printing technology is able to offer quick response time as compared to analog printing technologies.
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In this report, Future Market Insights suggests that the growth of digital textile printing market can mainly be attributed to the contributions from emerging economies, such as countries in the APEJ region – India & China. 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.
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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.
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.