Digital Printing Market to Reach $35.71 Billion: Allied Market Research
22 May 2021: Allied Market Research published a report, titled, “Digital Printing Market by Type (Inkjet and Laser), Ink Type (Aqueous, Solvent, UV-curable, Dye Sublimation, Latex and Others) and Application (Plastic Films or Foils, Textile, Glass, Paper/Books, Ceramic): Opportunity Analysis and Industry Forecast, 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, witnessing a CAGR of 3.7% from 2021 to 2028.
Increase in demand for sustainable and cost-efficient printing methods and surge in demand from the food & beverage industry drive the growth of the global digital printing market. However, high initial investment hinders the market growth. On the other hand, rise in usage of digital dyeing and printing technology in the automotive sector creates new opportunities in the coming years.
Manufacturing activities hindered due to lockdown measures implemented by governments in various countries. In addition, supply chain disrupted and raw material shortage occurred. The demand from application industries such as textile, ceramic and glass decreased due to disruptions in daily operations. However, the demand would grow steadily during the post-lockdown as daily operations get back on track.
Based on type, the ink-jet segment contributed to the highest share in 2019, accounting for nearly two-thirds of the global digital printing market, and is expected to maintain its lead position during the forecast period. This is attributed to advent of next-generation cartridge-free ink-jet printers and rise in demand for high-quality output printing solutions from the household, commercial and industrial sectors. However, the laser segment is projected to manifest the highest CAGR of 4.8% from 2021 to 2028, owing to demand for advanced printing solutions to improve productivity and environment-friendly features offered to the end-users.
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