The Global market for Digital printing is forecast to reach $16.8 billion by 2025, growing at a CAGR of 14.2% from 2020 to 2025. The market growth is attributed to the factors such as rapid industrialisation, growing demand from textile and packaging industries and others. Moreover, growing demand of printing for e- commerce also boosts the market growth.
The report: “Digital printing market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the digital printing market.
By Ink Type: Aqueous, Solvent, UV-cured, Latex, Dye sublimation and others
By Print Head Type: Inkjet (Thermal Inkjet, Piezo-Crystal–Based, Electrostatic Inkjet, Micro-Electro Mechanical System Inkjet), Laser
By Substrate Type: Plastic films or foils, Release liner, Glass, Textile, Paper, Ceramic
By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina and Rest of South America), Europe(Germany, UK, France, Italy, Spain, Russia and Rest of Europe), APAC(China, Japan India, South Korea, Australia and Rest of Asia-Pacific), and RoW (Middle East and Africa)
- Fast multimedia connectivity, interactivity and an 'always going' culture in acquaintances have fuelled market development.
- Moreover, the development of the packaging and textile industries and the decrease in the cost of digital printer printing per system speed up the growth of digital printing technology worldwide.
- APAC region is anticipated to dominate the global digital printing market in the forecast period 2020-2025 owing to growing digitization, industrialisation technological developments, growth of textile industries and others.
By Ink Type- Segment Analysis
Digital printing market is segmented into Aqueous, Solvent, UV-cured, Latex, Dye sublimation and others. The UV- Cured ink type segment held the highest market share in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. UV inks do not dry in the air. They don't have evaporative properties and don't need them. Like liquid plastics, they respond only to exposure to UV radiation, which allows the liquid to solidify. This ensures that approximately 100 % of the ink amount is used, which greatly decreases printing costs. Furthermore, since the ink does not dry until it is healed, it is possible to leave the printing cells with ink on them, even during the weekend, without the need for cleaning and without dried-on ink. UV inks provide other advantages such as being more environmentally sustainable than solvent-based inks, strong clarity, light-fastness, smearing tolerance, clear contrast and a pleasant gloss.
By Print Head Type- Segment Analysis
Laser print head type segment held the highest market share of digital printing in 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025. The increasing need for advanced printing technology to improve flexibility and performance of the whole workflow is a major factor driving the growth of laser printers. Laser printers had the luxury of providing bright, smooth black text and images in colour. Laser printers are capable of engendering a very excellent print and are non-impact printers with a countless set of fonts and are simplex in nature. Laser printers are both cost-effective and have high output speeds as opposed to the inkjet printers. Lasers can manage massive workload involving a printer suitable of servicing wider teams or projects. Lasers are getting increasingly available, and regular or super-sized pellets have an exceptional life cycle, producing excellent outcomes even on plain paper, and have become the cornerstone of work unit design.
Geography - Segment Analysis
APAC region is anticipated to observe the significant market growth during the forecast period 2020-2025. The market growth is attributed to rapid growth in industrialisation that has created increase in demand for digital printing. Technological developments along with increasing methods of printing are also fuelling the market growth. Moreover increase in demand from textile industry, packaging industry and others leverages a positive impact on the market growth in this region. In January 2019, Kornit Digital launches the Atlas, Direct-to-garment printing platform. Atlas has been built in a scalable and future-proof way, allowing the introduction of technological developments in the future with ease. This type of product releases allows leading companies in the market to communicate with their buyers properly. Moreover, according to the consumer tastes the companies could respond. In March 2019, ScanTrust unveiled a new authentication system using its protected digitally printed QR codes on HP Indigo. This was to support brands and industrial companies identify and monitor products in the combat against counterfeiting and facilitate traceability of the supply chain. Such product developments, research and developments in developing the ways of printing by the market players is boosting the market growth of digital printing.
Drivers – Digital printing market
- Growth in demand from textile industry
The textile industry anticipates a great variety of patterns and colours with a rapidly changing market. Nevertheless, conventional printing methods can not satisfy the current demands. Inkjet printing technology, which was initially developed for printing on documents, is now progressively being used in the fabric printing industry because it suits the demand of the fashion sector thereby accelerating market growth.
Challenges – Digital printing market
- High initial investment
High cost of the equipment and installation cost hinders the market growth of digital printing. Moreover high cost of inks, maintenance and support costs also plays the role in hindering the market growth.
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the digital printing market. As of 2019, the market for digital printing market is consolidated with the top players including Canon Inc., Hewlett-Packard Development Company LP, Mimaki Engineering Co., Ltd., Ricoh Company, Ltd., RoLAnd Dg Corporation, Xerox Corporation, Durst Phototechnik AG, Seiko Epson Corporation, Inca Digital Printers Limited, Electronics for Imaging Inc. and among others.
- In January 2020, Konica Minolta launched Digital Print Enrichment Press named MGI JETvarnish 3D One. This digital embellishment press provides sensory print applications for printers of every size.
- In April 2020, Domino Digital Printing Solutions launched UV97BK, a new food packaging compliant UV-curable black ink available for use with Domino’s K600i high-resolution digital inkjet printer.