The global digital printing market is growing rapidly due to the rising uses of digital printing technologies in packaging. Besides, increasing upgrades in digital printing technology and rising RD funding initiatives of public-private sectors are other major growth drivers. Increasing demand for sustainable printing due to rising global warming concerns escalates market shares.6e
With rising developments in data processing, programming, digital printing, and finishing, the market is expected to perceive significant traction in the next few years. According to Market Research Future (MRFR), the global digital printing market value is poised to escalate from USD 27.32 BN in 2022 to USD 47.15 BN by 2030, growing at 7.1% during the forecast period (2022-2030).
The spurring rise in the packaging and textiles industries substantiates the market size. With the advent of fast fashion and textile printing, the market has grown significantly over the past few years. It is poised to witness more considerable gains by the end of the forecast period. Businesses look at packaging as a means of advertising and marketing their brand.
This, alongside the rising consumer interest in digital printing, is expected to impact the growth of the market. Digitization has emerged as a game-changer for the printing industry. Product personalization, innovation, and the introduction of managed print services are strongly aligned with the rising possibilities of digital printing.
Major Players
Leading digital printing market players are
- Canon Inc., HP Inc.
- Seiko Epson Corporation
- MIMAKI Engineering Co., Ltd.
- Ricoh Company, Ltd.
- Roland DG Corporation
- DIC Corporation
- Xerox Corporation
- Toyo Ink SC Holdings Co. Ltd.
- Westrock Company
- Sakata INX Corporation
- Amcor PLC.
- Avery Dennison Corporation, among others.
Digital Printing Market – Segments
The report is segmented into types, ink types, substrates, applications, packaging, and regions. The type segment is sub-segmented into inkjets (piezo crystal inkjet, thermal inkjet, electrostatic inkjet, and MEMS) and lasers. The ink segment is sub-segmented into solvent, aqueous, UV Cured, dye sublimation, latex, and others. The substrate segment is sub-segmented into release liner, plastic film, glass, textile, paper, and others.
The application segment is sub-segmented into texting, commercial printing, packaging, paper/books, and others. The packaging segment is sub-segmented into labels, metal packaging, flexible packaging, cartons corrugated packaging, and others. By region, the digital printing market is segmented into the Americas, Asia-Pacific, MEA, Europe, and the rest of the world.
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Global Digital Printing Market - Geographical Analysis
North America leads the global digital printing market. The region highlights environment conservation efforts, minimizing wastage. Besides, vast developments in digital printing and substantial RD investments in optimizing printer machines drive the market growth. The presence of notable industry players, augmenting demand for digital printing technology, and the availability of advanced technologies are major growth drivers. Additionally, augmenting demand for safe and effective features boosts the market size.
Digital Printing Market - Competitive Analysis
The digital printing market appears highly competitive due to the presence of several well-established players. Industry players adopt strategic approaches, such as collaborations, mergers acquisitions, expansion, and new technologies/product launches to gain a larger competitive share. Industry players make substantial investments to drive RD to develop new products technologies and increase their global footprints.
Industry/ Innovation/ Related News
Sep. 07, 2023 -- ExodusPoint Capital Management LP announced its acquisition of new shares in Kornit Digital Ltd. (KRNT), a leader in developing, designing, and marketing digital printing solutions. KRNT serves various segments within the printed textile industry globally.
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