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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