Digital Printing Market

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Digital Printing Market Analysis

Digital Printing Market Size was valued at USD 25.34 billion in 2021. The Digital Printing industry is projected to grow from USD 27.32 billion in 2022 to USD 47.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period (2022 – 2030).

Increasing Demand for Sustainable Printing

The demand for digital printing is experiencing rapid growth driven by several factors. Digital printing technology offers numerous advantages over traditional printing methods, including shorter turnaround times, cost-effectiveness for short print runs, customization capabilities, and variable data printing. These benefits make digital printing particularly attractive to industries such as advertising, packaging, textiles, and publishing. In the advertising sector, digital printing enables quick production of high-quality signage, banners, and promotional materials with vibrant colors and intricate designs. In the packaging industry, digital printing allows for personalized packaging solutions and enables brands to engage with consumers on a more intimate level. Moreover, the rise of e-commerce has fueled demand for digitally printed packaging to create memorable unboxing experiences. In textiles, digital printing offers the flexibility to produce on-demand and customized apparel, home textiles, and accessories with minimal waste. Additionally, advancements in digital printing technology, such as improved print quality, faster printing speeds, and expanded substrate compatibility, further drive market growth. As businesses seek to enhance their marketing efforts, improve operational efficiency, and meet the growing demand for customization and personalization, the demand for digital printing solutions is expected to continue expanding, driving innovation and investment in the digital printing market.

The Global Market to Witness Growth Post COVID-19 Pandemic

COVID-19 has had an extraordinary influence on the global economy, particularly the digital printing business, since the WHO declared it a pandemic in January 2020. In the instance of the pandemic lockdown, there was an insufficient understanding of the pandemic’s spread, which delayed the deployment of crisis management response in most countries.

Concurrently, the disruption of physical materials and the supply chain posed issues in the textiles, paper & newspapers, apparel, and other industries that are among the main end users of the digital printing market. Furthermore, the digital printing industry’s problems were exacerbated by constraints on people’s movement, which increased the need for advertisers, who account for a large share of end use applications, to shift most advertising to online platforms.

This resulted in considerable revenue losses for digital printing over the first three quarters of 2020. However, with a significant increase in vaccination campaigns done by governments around the world, the number of cases and intensity of the pandemic are predicted to wane by the end of 2021, assisting market growth in reaching new highs.

Digital Printing Market Segmentation

The global digital printing market has been segmented into ink, technology, and substrate.

By ink, the global digital printing market has been segmented into Aqueous, Solvent, UV Cured, Latex, and Dye Sublimation. 

By technology, the global digital printing market has been segmented into Laser and Inkjet.

By substrate, the global digital printing market has been divided into plastic film, release liner, glass, textile, and paper. 

Digital Printing Market Regional Analysis

North America to Dominate the Global Market

North America holds the largest proportion of the worldwide digital printing market. The region emphasizes environmental conservation and waste reduction, which aids market growth. Furthermore, the development of cutting-edge technology to improve effective digital printing and research into optimizing printer machines is a crucial element influencing the market growth.

Due to the presence of several important equipment manufacturers and technology suppliers, the United States leads the regional market, closely followed by Canada. Furthermore, the availability of new technologies is a critical driver of the region’s brisk expansion.

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Digital Printing Market Key Players

Hewlett-Packard Development Company, L.P. (US), Canon, Inc. (Japan), Ricoh Company, Ltd. (Japan), Roland DG Corporation (Japan), Xerox Corporation (US), Seiko Epson Corporation (Japan), Durst Phototechnik AG (Germany), Electronics For Imaging, INC.(US), and Inca Digital Printers Limited (UK)

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Industry News

On May 17th, 2020, Kornit Digital launched an on-demand digital printing technology to make digital printing of apparel more environmentally friendly and sustainable. The company said that the new technology would optimize the usage of input feed materials like paints, dyes, and inks, potentially increasing the profitability of end user consumers.

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