Market Research Future Insights
According to market research future insights analysis, the global digital printing market is expected to register a CAGR of ~ 6.50% from 2022 to 2030 and hold a value of over ~USD 39.88 billion by 2030.
Overall, waste in the print sector has decreased due to significant advancements in supply chain management, time-efficient production, and print manufacturing efficiency. Digital printing has benefited from technological improvements that have reduced waste while maintaining good print quality. Compared to conventional printing methods like offset printing and solid ink printing, digital printing uses mild solvents and less dangerous chemicals. As a result, the market for digital printing is seeing an increase in demand for digital printing solutions, which puts a greater emphasis on eco-friendly printing and efficient production. The chaos caused by supply chain operations also reduced market activity globally. Compressor shipping and supply were hampered in numerous locations where there was a demand for these products due to restrictions on the mobility of non-essential goods and commodities. The shortcomings of transportation infrastructure and the lack of accessible, reliable supply channels have constrained the market's potential for growth.
Digital Printing Market Key Players
Some of the key market players are.
- HP Inc.
- Seiko Epson Corporation
- Canon Inc.
- Ricoh Company, Ltd.
- MIMAKI Engineering Co., Ltd.
- Xerox Corporation
- DIC Corporation
- Roland DG Corporation
- Sakata INX Corporation, Ltd.
- Toyo Ink SC Holdings Co., Ltd
- T&K TOKA Co.
- Flint Group
- Siegwerk Druckfarben AG & Co. KGaA.
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Digital Printing Market Regional Analysis
Asia Pacific dominated the market for digital printing in 2021. Rapid industrialization growth has increased demand for digital printing and is attributed for market expansion. Technological advancements and advanced printing techniques are fueling the market's development. Additionally, factors contributing to the market expansion in this region is the rise in demand from the textile, packaging, and other industries. Kornit Digital introduced the Atlas direct-to-garment printing platform in January 2019. Future technology advancements can be easily included in Atlas due to its scalable and future-proof design. With the help of these product releases, market leaders may effectively interact with their customers.
North America was the fastest growing region for digital printing. As the online services range rises, more homes are projected to use digital printing firms for large document orders. The increased usage of computers corresponds to an increase in digital technologies, which necessitate printing services. In 2021, more services were anticipated to be provided online, which could create an opportunity for the sector.
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Digital Printing Market Segmentation
The global digital printing market has been segmented into ink type, print head type, and application.
The market has been segmented based on ink type into aqueous, solvent, UV-cured, latex, dye sublimation, and others. The solvent segment held the largest share of the market in 2021. These are appropriate for uses, including billboards, banners, and vehicle graphics. Flexible vinyl substrates can be printed using solvent ink printers. Vehicle graphics, banners, and billboards are the main applications for it. On the other hand, the UV-cured segment was the fastest-growing segment during the forecast period. They do not require or have evaporative qualities. Similar to liquid plastics, they only react when exposed to UV light, which causes the liquid to solidify. This guarantees that nearly all ink is used, significantly lowering printing expenses.
Based on print head type, the market has been segmented into inkjet (thermal inkjet, piezo-crystal–based, electrostatic inkjet, micro-electromechanical system inkjet) and laser. Laser accounted for the digital printing market's largest revenue share in 2021. One of the main factors influencing the expansion of laser printers is the expanding need for improved printing technology to enhance flexibility and performance across the entire process. With laser printers, color images and text could be produced in bright, smooth black. Inkjet was the fastest-growing segment. For printing, copying, scanning, color printing, and printing on fabric and flexible media, inkjet printers are used instead of laser printers. Due to high equipment expenses, maintenance requirements, and printing prices, laser printing is a costly kind.
Based on application, the market has been segmented into plastic films or foils, release liners, glass, textile, paper, ceramic, and others. The plastic films or foils segment had the largest revenue share in 2021 in the market for digital printing. Because packaging and advertising have boosted their use. To package a product with a plastic cover or package that has a digitally printed design of information, styling, and appealing packaging, plastic films, and foils are typically employed. Paper was the fastest-growing segment. Paper and books are where digital printing is used the most frequently. As a result of modern printing technology that enables manufacturers to print on fabric with highly detailed work, fabric printing has recently become the newest trend in the market.
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