Allied Market Research released a report titled “Digital Printing Market by Type (Inkjet & Laser), Ink Type (Aqueous, Solvent, UV Curable, Thermal Sublimation, Latex & Others) and Application (Films or plastic sheets, textile, Glass, Paper / Books, Ceramics): analysis of industry opportunities and forecasts, 2021-2028. ” According to the report, the global digital printing industry generated $ 25.74 billion in 2019 and is expected to reach $ 35.71 billion by 2028, with a CAGR of 3.7% from 2021 to 2028.
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Drivers, constraints and opportunities
Rising demand for sustainable and cost-effective printing methods and increasing demand from the food industry are driving the growth of the global digital printing market. However, a high initial investment hinders the growth of the market. On the other hand, the increase in the use of dyeing and digital printing technology in the automotive sector creates new opportunities in the years to come.
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– Manufacturing activities hampered due to lockdown measures implemented by the governments of various countries. In addition, the supply chain was disrupted and a shortage of raw materials occurred.
– The demand of application industries such as textiles, ceramics and glass has decreased due to disruptions in daily operations. However, demand would increase steadily during the post-containment period, as daily operations resume.
Inkjet Segment Will Maintain Leading Position During Forecast Period
On the basis of type, the inkjet segment contributed the highest share in 2019, accounting for nearly two-thirds of the global digital printing market, and is expected to maintain its leading position during the period. forecast. This is attributed to the advent of next-generation cartridge-less inkjet printers and the increasing demand for high-quality printing solutions in the home, commercial and industrial sectors. However, the laser segment is expected to show the highest CAGR of 4.8% from 2021 to 2028, due to the demand for advanced printing solutions to improve productivity and environmentally friendly features offered to end users.
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Solvents Segment to Maintain Leading Status During Forecast Period
On the basis of ink type, the solvent segment held the highest share in 2019, contributing almost a third of the global digital printing market, and is expected to maintain its leading status during the period. forecast. This is attributed to use in flexographic and gravure printing due to the ability to dry quickly and resist water as well as implementation in publication segments such as newspapers, magazines, and printers. catalogs. However, the UV curable segment is estimated to have the fastest CAGR of 4.9% from 2021 to 2028, due to its high drying capacity and use in automotive and electronics industries. General public.
North America will maintain its dominance in terms of revenue by 2027
Based on region, North America contributed the highest revenue share in 2019, holding more than a third of the global digital printing market, and is expected to maintain its dominance. by 2027. This is attributed to the availability of next generation advanced printing technologies as well as the presence of leading suppliers in the region. However, Asia-Pacific is expected to experience the highest CAGR of 5.5% during the forecast period, owing to the deployment of digital printing applications in the textile, food and retail industries. drinks and packaging.
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The main market players:
– Canon, Inc.
– DIC Corporation
– Epson Co. Ltd.
– Hewlett Packard
– Konica Minolta
– Ricoh Co., Ltd.
– Sakata INX Co. Ltd.
– Toyo Ink SC Holdings Co.
– Xerox Company
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