Digital Printing Market worth USD 34.2 billion by 2027
The Market Statsville Group (MSG) publishes the new report on the "Digital Printing Market by Printhead Type (Inkjet and Laser), by Ink Type (UV-Cured Ink, Aqueous Ink, Solvent Ink, Latex Ink, and Dye Sublimation Ink), by Application (Plastic Film or Foil, Release Line, Glass, Textile, Paper, Ceramic, and Others), by Product Type (Digital Printers, Ink, and Printhead), by Region – Global Share and Forecast to 2027". By 2027, the worldwide digital printing market would have grown from USD 21.2 billion in 2020 to USD 34.2 billion, at a CAGR of 7.1% during the forecast period, 2021-2027. The digital printing industry is anticipated to grow during the forecast period, owing to the rapid adoption of inkjet and laser printing solutions across the paper and packaging sector due to cost-efficient and flexible features. The market for digital printing is estimated to be driven by the surge in the adoption of IoT and AI-based technologies globally. Furthermore, the rise in the use of digital printing in consumer electronics is projected to boost the demand for smart thermostats. Considering these factors, the worldwide digital printing market is projected to experience steep growth in the future.
Browse 211 market data Tables and 63 Figures spread through 234 Pages and in-depth TOC on "Digital Printing Market Research Report 2021-2027."
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Global Digital Printing Market Segmentation
The overall digital printing market has been segmented into the printhead, ink type, application, product type, and region.
- By Printhead Type (Inkjet and Laser)
- By Ink Type (UV-Cured Ink, Aqueous Ink, Solvent Ink, Latex Ink, and Dye Sublimation Ink)
- By Application (Plastic Film or Foil, Release Line, Glass, Textile, Paper, Ceramic, and Others)
- By Product Type (Digital Printers, Ink, and Printhead)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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UV-Cured, by ink type, is estimated to hold the largest market share during the forecast period
The worldwide digital printing market is divided into five segments based on method: UV-cured ink, aqueous ink, solvent ink, latex ink, and dye-sublimation ink. UV-cured segment by ink type has accounted for the largest market share of 37.4% in 2020. Ultraviolet cured ink is made using ultraviolet curing (UV curing), a green technique that uses a photomechanical process to dry ink immediately after printing. This means you may print on almost any non-absorbent surface, such as glass, wood, metal, vinyl materials, and more. Because UV curable ink does not absorb into the substrate, there is no smearing and no need for expensive coatings.
Another advantage of UV-cured inks is that they are weather-resistant and fade-resistant. There are no solvents, no evaporation, and the procedure is carried out at a low temperature. UV energy induces a chemical reaction that causes the ink to harden instantaneously, making it a better alternative to solvent-based ink products. UV ink is utilized in a variety of industries, including automotive, electronics, telecommunications, and more, in addition to local print businesses.
North America accounts for the largest market share during the forecast period
The global digital printing market has been segmented by region into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America has accounted for the largest market share of 30.70% in the global digital printing market and was anticipated to maintain its dominance throughout the forecast period. The market demand for Digital Printing in North America offers a positive outlook and is expected to register significant growth. The key factors driving the market for Digital Printing in North America are the rising adoption of the latest technology, IoT integration as well presence of the key players. Moreover, high technological implementation is also expected to support target market growth in this region.
The North American market is driven by the technological advancements in the packaging and textile industry. The demand for the digital printing for packaging will be driven by increasing consumer durable sales, high disposable income, increasing demand for packaged foods, and demographic changes. Considering the potential of the North American region, many players are also investing in this market. For instance, in August 2017, Sun Chemical has done partnership with Spectracorp, Inc. to repackage the Streamline solvent inkjet inks into different size containers, including pouches and cartridges, as required by North American consumers. This strategic partnership has allowed Sun Chemical to expand the number of products to customers in North America and provide them with additional solutions from its range of OEM-compatible solvent inkjet inks.
Canon, Ricoh Company, Hewlett-Packard Development, Mimaki Engineering, Seiko Epson Corporation, Xerox Corporation, Roland DG Corporation, Durst Phototechnik AG, Inca Digital Printers Limited, Printronix, Electronics for Imaging, Brother Industries, Toshiba, Samsung Electronics, and Oki Electric Industry are some of the key players in the market of digital printing worldwide.
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