Digital Textile Printing Market to Display Impressive Growth of 16.3 % with Rising Demand by 2029
The global digital textile printing market is anticipated to clock a remarkable CAGR of 16.3% over 2022-2029, as suggested by a new Future Market Insights (FMI) report. This remarkable market growth is primarily due to the increasing penetration of the printing industry in developing markets like India, Mexico, China, and Mexico as well as technological advances that have occurred over time.
The Digital Textile Printing Market will surpass US$ 8 billion by 2029. It is likely to grow moderately at 16.3% CAGR during the assessment period.
Potential Impact of COVID-19
FMI predicts that industry players will fail to reach their financial targets because of significant supply chain disruptions caused by lower customer demand. The current market situation has led to leading players building the operational flexibility necessary to survive the pandemic.
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Additionally, the pandemic has created implications for the digital transformation of workplaces to better serve end users. This will allow them to thrive in the coming years. The FMI study suggests that this crisis may provide fertile ground to transform the digital textile printing industry.
Manufacturers are steadily making improvements in digital textile printing technology. Therefore, flexography, lithographic and printing technology providers are gradually shifting to digital printing.
The digital textile printing market is expected to grow because of its many characteristics and advanced technology. As the demand for digital textile printing solutions increases in these countries, the U.S. and Canada will offer lucrative opportunities for manufacturers.
Study on Digital Textile Printing Market – Key Takeaways
- The DTF (direct to fabric) segment of the global digital textile printing industry is seeing unrivalled demand. This market is forecast to grow at a phenomenal CAGR (17.5%) during the forecast period.
- Digital textile printing has a higher set-up cost than traditional printing technologies. Small volume printing can be expensive because of this. A high number of orders for short runs requires multiple jobs and frequent plate changing.
- Digital printers are looking for more precise methods to determine the type of equipment and print run lengths. It is evident that many print service providers are focused on computerizing their printing processes.
- Market growth is predicted to be phenomenal in North America and East Asia, which will witness remarkable growth in the global digital printing market.
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Designers are gaining more interest in digital textile printing designs.
In the past, only high-fashion clothing was allowed to showcase eye-catching designs. But over the last few years, more and more high-fashion brands such as H&M and Zara are joining unique and more outbound designs in their pools.
People want exclusive clothing and high-end brands are responding to this demand by using digital textile printing techniques. Digital textile designers have a great opportunity to meet this new demand for uniqueness.
Traditional printing techniques can make it difficult for designers to create original, high-quality designs. Digital textile printing allows designers to expand their creativity and give them the tools to create futuristic designs.
Digital Textile Printing Manufacturers are Opening Up New Opportunities in the Signage Market
Sign and display printers need reliable, efficient and affordable products. The steady market growth in digital textile printing is being supported by a healthy sign and display demand. Outdoor, indoor, wall décor, and event décor are some the fastest-growing segments in the signage market that are using digital textile printing techniques. Due to an increasing number of digital textile printing jobs, including short-runs for events, team uniforms and corporate clothing, the goal is to increase sales.
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Future Market Insights: Digital Textile Printing Market to Experience Impressive Growth at 16.3 % and Rising Demand by 2029