Digital Textile Printing Market
A new Future Market Insights Report (FMI), suggests that the global digital textile printing industry will experience a 16.3% compound annual growth rate over 2022-2029. This remarkable market growth is primarily due to the increasing penetration of the printing industry in developing markets like India, Mexico, China, and Mexico as well as technological advances that have occurred over time.
The Digital Textile Printing Market will surpass US$ 8 billion by 2029. It is likely to grow moderately at 16.3% CAGR during the assessment period.
Potential Impact of COVID-19
FMI predicts that industry players will fail to reach their financial targets because of significant supply chain disruptions caused by lower customer demand. Leading players have taken note of the current market conditions and are attempting to build the necessary operational flexibility to withstand the pandemic.
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The pandemic also has implications for digitally transforming workplaces to better serve end-users and flourish over the next years. According to the FMI study, this crisis could provide fertile ground for the potential transformation of digital textile printing markets.
Manufacturers are making steady progress in digital textile printing technology. As a result, flexography and other lithographic printers are gradually moving to digital printing.
The digital textile printing market is expected to grow because of its many characteristics and advanced technology. Manufacturers will have lucrative opportunities in the U.S.A. and Canada as digital textile printing solutions are in high demand.
Study of the Digital Textile Printing Market: Key Takeaways
The DTF (direct to fabric) segment of the global digital textile printing industry is seeing unmatched demand. This market is forecast to grow at a phenomenal CAGR (17.5%) during the forecast period.
Digital textile printing has a higher set-up cost than traditional printing technologies. Small volume printing can be expensive because of this. A high number of orders for short runs requires multiple jobs and frequent plate changing.
Digital printers are looking for more precise methods to determine the type of equipment and print run lengths. It is evident that many print service providers are focused on computerizing their printing processes.
According to market growth estimates, North America will experience remarkable growth while East Asia is expected to see impressive growth in global digital textile printing markets.
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Designers have more options because of the growing interest in digital textile printing.
In the past, only high-fashion clothing was allowed to showcase eye-catching designs. But over the last few years, more and more high-fashion brands such as H&M and Zara are joining unique and more outbound designs in their pools.
These unique pieces of clothing can be made by digital textile printing. Big high-fashion brands have successfully responded to these demands. This is an opportunity for digital textile designers to capitalize on this demand for uniqueness.
Designers may not be able to create high-quality designs using traditional printing methods. Designers can expand their creativity with digital textile printing. It gives them the tools they need to create futuristic designs.
Digital Textile Printing Manufacturers are Opening Up New Opportunities in the Signage Market
Sign and display printers need reliable, efficient and affordable products. Digital textile printing is experiencing steady growth due to a healthy demand for signs and displays. Outdoor, indoor, wall décor, and event décor are some the fastest-growing segments in the signage market that are using digital textile printing techniques. Due to an increasing number of digital textile printing jobs, including short-runs for events, team uniforms and corporate clothing, the goal is to increase sales.
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. We were awarded the Clutch Leaders Award 2022 for our high client score of 4.9/5. Since then, we have been working with global companies in their business transformation and helping them achieve their business goals. Our clients make up 80% of the Fortune 1000’s largest companies. We serve global clients across all leading & niche market segments across all major industries.
This release was published by openPR.