Digital Textile Printing Market to Hit $3,943 Million, by 2022
Digital Textile Printing Market Report, published by Allied Market Research, forecasts that the global market was valued at $1,245 million in 2015, and is projected to reach $3,943 million by 2022, growing at a CAGR of 17.9% from 2016 to 2022. The polyester segment held nearly one-fourth share of the global market in 2015.
Textile printing is a technique of applying color to fabric in a particular design and pattern. Increase in preference of consumers toward high-quality textile printing is a key factor that drives the market growth. Digital textile printing exemplifies the futuristic technologies capable of manufacturing durable inks, thus maximizing the overall efficiency. It possesses advantages such as higher reliability, longer print life, and cost reduction.
Growth in population and rise in income levels present numerous opportunities for market expansion. Moreover, growth of the overall textile industry globally and rise in demand for high-quality textile prints are anticipated to boost the overall growth. In addition, rapid shift towards digital textile printing is driven by acceleration in production speeds and reduction in coloration costs. Increase in investments in R&D for new digital textile printing technologies is expected to provide lucrative opportunities in the global market. However, toxic hazards related to the ink used in digital textile printing is a major factor anticipated to hamper the overall growth of the market.
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The digital textile printing is expected to register the highest growth in household applications, owing to rise in per capita disposable income and growth in consumer preference toward new and easier ways of high-quality printing. Furthermore, rapid urbanization and upsurge in advertising through apparels & garments are expected to boost the market growth.
Globally, the clothing/garment application segment accounted around one-third share, in terms of volume, in 2015. In response to the perennial modifications in the textile industry, efficient textile printing technologies are in demand globally. Thus, increase in requirement of high-tech digital textile printing techniques and rise in apparel-based advertising are driving the digital textile printing market globally.
Key Findings of the Digital Textile Printing Market
- The silk substrate segment is anticipated to grow at the highest CAGR during the analysis period.
- Europe is projected to maintain its lead position in future, growing at a CAGR of 17.9%, in terms of volume.
- The display and others segment occupied around half of the total market in 2015.
- India occupied around one-fourth share of the Asia-Pacific market in 2015.
- In terms of value, Australia is expected to grow at a significant CAGR of 19.6%.
In 2015, Asia-Pacific and LAMEA collectively accounted for nearly half of the global market, in terms of volume, and are expected to continue this trend, owing to increase in urbanization, specifically in China, India, Brazil, and other developing countries. Moreover, rise in urban population with increased per capita disposable income and growth in overall consumer spending further drive growth of this market.
The major companies profiled in the report include JV Digital Printing, AM Printex, AGS Transact Technologies, Digitex India Inc., Fisher Textiles, Inc., Dazian LLC., Dickson Coatings, Glen Raven, Inc., China Dyeing Holdings, Ltd., and Mehler Texnologies.
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