Burlingame, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights has published a recent study report titled “The global Digital Printing Market in terms of revenue was estimated to be worth $27.35 billion in 2022 and is poised to reach $102.55 billion by 2031, growing at a CAGR of 18% from 2024 to 2031” Digital printing refers to the direct production of image on media without the need for plates or cylinders. It is used for applications such as photo books, posters, marketing collateral, product packaging and more.
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Market Dynamics:
The digital printing market is witnessing significant growth due to the increasing adoption of digital printing technology across various industries. The ability of digital printing to deliver high-quality prints with quick turnaround times and cost-effective solutions has led to its widespread adoption. Moreover, the growing demand for personalized and customized printing solutions is also driving market growth.
Digital Printing Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2022 | $27.35 billion |
| Estimated Value by 2031 | $102.55 billion |
| Growth Rate | Poised to grow at a CAGR of 18% |
| Historical Data | 2017–2021 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Printhead Type, By Ink Type, By Application Type, By Product Type |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Restraints & Challenges | • High cost and system errors • Stringent regulations by governments and high competition |
| Growth Drivers | • Increasing use in highly customized labels • High demand from textile and packaging industries |
One of the key drivers for the digital printing market is the growth of the e-commerce industry. With the rising popularity of online shopping, there is a higher demand for packaging and labeling solutions, which require advanced printing technologies like digital printing to meet the ever-increasing consumer demands. Additionally, the growing preference for sustainable and eco-friendly printing solutions is further fueling market growth.
Market Trends:
Two significant market trends in the digital printing industry include the increasing adoption of UV-curable inks and the growth of textile printing.
UV-curable inks are gaining popularity in the digital printing market due to their superior properties such as high durability, excellent color reproduction, and quick curing time. These inks are extensively used in industries like signage, packaging, and labels, as they offer superior quality prints on various substrates.
Textile printing is another emerging trend in the digital printing market. The demand for digitally printed textiles is increasing in industries like fashion and home décor, as it allows for unlimited design possibilities and shorter production cycles. Moreover, digital printing offers benefits such as reduced waste, increased flexibility, and cost-effectiveness, which are driving the adoption of digital textile printing.
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Recent Developments:
In February 2021, Canon unveiled ImageRUNNER ADVANCE DX for business empowerment in digital transformation era.
In May 2021, Epson and National Geographic joined forces to tackle climate change issues, empowering businesses and consumers.
Key Market Takeaways:
The digital printing market is anticipated to witness a CAGR of 18% during the forecast period 2024-2031, owing to the increasing demand for personalized and customized printing.
On the basis of printhead type, the inkjet segment is expected to hold a dominant position, owing to its high-resolution output and customization capabilities. The inkjet technology allows for printing on various substrates, making it suitable for personalized printing applications.
In terms of ink type, latex ink is dominating the market. Its durability, versatility, and ability to adhere to different substrates make it ideal for industrial printing applications.
The plastic film or foil segment is expected to hold a dominant position in the application type category. This can be attributed to the widespread use of plastic film and foil in various industries, including packaging and labeling.
North America is expected to hold a dominant position in the digital printing market over the forecast period. The region has a well-established printing industry and a high adoption rate of digital printing technologies.
Key players operating in the digital printing market include Canon, Brother Industries, Hewlett-Packard Development, Printronix, Ricoh Digital Painting Company, Inca Digital Printers Limited, Mimaki Engineering, Electronics For Imaging, Roland Dg Corporation, Durst Phototechnik AG, Xerox Corporation, and Seiko Epson Corporation. These players have a strong market presence and offer a wide range of digital printing solutions.
Read complete market research report, "Global Digital Printing Market, By Printhead Type, By Application Type, By Product Type , By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.
Overall, the digital printing market is experiencing significant growth opportunities driven by the demand for personalized and customized printing and the growing industrial applications of digital printing. The dominance of inkjet and latex ink technology, along with the strong presence of key players, contribute to the market's success.
Market Opportunities:
Digital printing is experiencing significant market growth due to the increasing demand for personalized and customized printing. With advancements in technology and the rise of e-commerce, consumers are looking for unique and personalized products. Digital printing allows for quick and efficient customization, enabling businesses to meet consumer demands effectively.
As a result, the inkjet printhead type is dominating the market in this segment. Inkjet printing offers high-resolution output and allows for customization on various substrates, including paper, plastic film, glass, and textiles. These capabilities make inkjet technology ideal for personalized printing applications.
The industrial applications of digital printing are expanding rapidly, creating a significant market opportunity. Industries such as packaging, textiles, and ceramics are adopting digital printing to improve productivity and flexibility. Digital printing offers advantages such as reduced waste, faster production times, and the ability to print on a wide range of materials.
In the ink type segment, latex ink is dominating the market. Latex ink is ideal for industrial applications due to its durability and versatility. It can be applied to various substrates, including plastics, textiles, and ceramics, making it suitable for a wide range of industrial printing needs.
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Detailed Segmentation:
- Global Digital Printing Market, By Printhead Type
- Inkjet
- Laser
- Global Digital Printing Market, By Ink Type
- UV-Cured Ink
- Aqueous Ink
- Solvent Ink
- Latex Ink
- Dye Sublimation Ink
- Global Digital Printing Market, By Application Type
- Plastic Film or Foil
- Release Liner
- Glass
- Textile
- Paper
- Ceramic
- Others
- Global Digital Printing Market, By Product Type
- Digital Printers
- Ink
- Printhead
- Global Digital Printing Market, By Regions
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
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