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DUBLIN , March 15, 2022 /PRNewswire/ -- The "Digital Textile Printing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital Textile Printing Market to Reach $2.7 Billion by 2026
The global market for Digital Textile Printing estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$2.7 Billion by 2026, growing at a CAGR of 10.3% over the analysis period.
The increasing replacement of flat screen printing machines with digital technology is driven by the latter`s similar production speeds as well as coloration costs. Growth is also driven by digital printing technology`s ability to address technical limitations that are encountered in conventional printing applications, and its use in small-volume productions involving varied designs, which proves to be inefficient in the case of traditional printing. Roll to Roll, one of the segments analyzed in the report, is projected to record 11.2% CAGR and reach US$2.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the DTG segment is readjusted to a revised 7.8% CAGR for the next 7-year period. The U.S. Market is Estimated at $340.2 Million in 2021, While China is Forecast to Reach $396.9 Million by 2026
The Digital Textile Printing market in the U.S. is estimated at US$340.2 Million in the year 2021. China , the world`s second largest economy, is forecast to reach a projected market size of US$396.9 Million by the year 2026 trailing a CAGR of 13.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 7.5% and 11% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 8.3% CAGR. The market is expected to witness considerable growth over the forecast period owing to increasing demand pertaining to sustainable printing; faster adaptability and reduced time span of fashion designs; advertising and garment industries witnessing an increased demand in regards to digital textile printing; population growth; increasing purchasing capacity decreased per unit printing cost along with digital printers; as well as new technologies being developed in the textile industry.
Other factors expected to further fuel the growth of the digital textile printing market include increased per capita disposable income within developing countries, increase in commercial branding and advertisements, short run lengths, launch of new designs, as well as rapidly changing fashion trends in regards to new printed garments. Additionally, textile printing is increasingly used in automotive interior decoration and vehicle wrapping, thereby boosting market growth within the automotive sector.
Also, technological innovations that include 3D printing and hotmelt printing pertaining to textile application are likely to provide new market growth opportunities in the near future. Textile printing companies face tremendous pressure in regards to time to market, faster sampling, efficiency, increasing the print speeds, design, and flexibility. Digital textile printing used for printing on fabric is likely to enable companies in achieving the goals. Digitally-printed textiles currently accounts for a very small portion of the overall printed textile market. However, easy financing availability, low cost, increased productivity, and reducing ink costs are anticipated to boost the growth in the digital printing market. For past several decades, digital printing for the graphics, industrial, decor, and fashion industries, have been largely restricted to short-run printing and sampling.
However, recent advancements in inkjet technology has led these industries to address the growing demand for innovative designs and environmentally-responsible output, as well as the requirement for improving supply chain operations. In addition, in recent years, there have been significant developments in digital printing technology that have led to improvements in productivity.
Moreover, there has been a rapid growth in the use of sublimation and continuous innovation in pigment and dispersion inks, which would aid PSPs in meeting the escalating demand. Key Topics Covered: I. METHODOLOGY
2. FOCUS ON SELECT PLAYERS (Total 36 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/67wa7h
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