Pune, Aug. 21, 2024 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Digital Printing Market was valued at USD 33.07 billion in 2023 and is projected to reach USD 70.48 billion by 2032, marking a robust CAGR of 8.79% from 2024 to 2032.”
Market analysis
The digital printing market has shown significant growth due to a combination of developing technology and changing consumer demand. One of the main drivers behind this growth is a move towards renewable technologies. With sustainability at the forefront of so many sectors, the low waste and lower environmental impact in comparison to traditional alternatives is making digital printing ever more popular. The market is being driven by as initiatives towards green which include the use of water-based inks and bio-based solvents are increasing its attractiveness. The technologies helped the company slash volatile organic compound (VOC) emissions and drove progress on its broader corporate sustainability commitments. Durst's in September 2023 acquisition of Aleph SrL underscores the importance in water-based printing for the industry as it advances and seeks environmental-friendly practices. Speed and efficiency became the focus of technological advances, with some more modern printing machines able to reach speeds of up to 100 meters per minute (mpm), as well as new technologies such is UV-curable inks that have driven application flexibility. Sustainable and customization continues to drive its expansion.
Additionally, the industry is being supported by increased investment into product development and technology advances. Collaborations like the Fiery, LLC Iron and Esko partnership in September 2023 are expanding digital print realms which present new opportunity for growth. One solution, a forthcoming partnership from Nilpeter USA Inc. with both SCREEN and Canon in the US to improve digital printing capabilities Another take is from PRISMAcolor Manager, which was launched by Canon USA Inc. last April of 2022.
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Major Players Analysis Listed in this Report are:
- Canon, Inc
- DIC Corporation
- Epson Co., Ltd
- Hewlett-Packard
- Konica Minolta
- Ricoh Co., Ltd
- Sakata INX Co., Ltd
- Toshiba Co. Ltd
- Toyo Ink SC Holdings Co.
- Xerox Corporation
- Segment analysis
Digital Printing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 33.07 Bn |
| Market Size by 2032 | US$ 70.48 Bn |
| CAGR | CAGR of 8.79% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Demand for environmentally friendly printing is increasing • In the packaging and textile industries, there has been a lot of change |
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Segment Analysis
By Print Head Type
The Inkjet segment is expected to command of largest share more than 39% digital printing market led by rapid output speeds and growing need for on-demand printing solutions from end-applications such as packaging, textiles & labels. The growth of green technologies has highlighted the efficiency and eco-friendly nature inkjet printers. On the other hand, Digital Press segment is expected to grow at highest CAGR during forecast period. The increase in digital technology adoption among publishers and the relatively low cost of such presses for short runs also helps this segment to grow.
By End User
The publishing industry accounted for major share more than 29% in digital printing owing to its adoption by magazine manufacturers and advertising agencies which requires high quality print offerings. Book publishers have been investing in digital printing because the quick production times really eased their lives. The packaging and label segment is estimated to be one of the fastest-growing within the same timeline Increasing demand from retail and E-commerce sectors is fuelling the adoption of smart printing aids. There is a anticipated growth in the fashion and apparel sectors as well, being supported by evolving clothing trends & requirements of new printing solutions.
Digital Printing Market Key Segmentation:
By Print-head Type
- Inkjet
- Laser
- Digital Press
By Application
- Paper
- Thick Cardstock
- Textile
- Plastic Film
- Glass
- Other
By End-user
- Publishing
- Clothing
- Glass
- Others
North America accounted for more than 36% share in the total market's revenue worldwide, during 2023. The extent of the dominance is said to be driven by advanced digital technologies being widely embraced in multiple sectors, particularly in America. This year's class also includes the Southeast, which boasts one of America largest textile and publishing industries. For example, the acquisition of WeaveUp by Joann in March 2022 highlights the increasing importance within textile print sitting and digital textile printing.
The Asia Pacific region is anticipated to experience the largest growing in demand between 2024 and 2032 due to an increase in e-commerce business located primarily China, Japan South Korea. The increased interest in Asia-Pacific region with its affinity for digitalized label printing, and a eagerness of Chinese companies to move towards data-driven business models, as well as adopting automated of digitally connected solutions point to growth-popportunities that will only be strengthened by global trends.
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Recent Developments
- ARC Document Solutions, LLC September 2023, Partnered with Canon Solutions America to expand its portfolio of digital color printing capabilities through the purchase of an Arizona printing system. The collaboration is in line with the ARC commercial printing product roadmap to include latest technologies, which will further aid them provide customized solutions for various market sectors.
- August 2023 Epson Co., Ltd. joined forces with the Australian Fashion Council to digital printing and projection technologies of clothing & textile industry in July, 23. The mission of this strategic partnership is to deliver advance printer technology to the fashion industry helping it on a journey towards more sophisticated and sustainable methods.
- In May 2022 the Belgium-based Agfa-Gevaert Group (Agfa) continued its transition and expansion in to industrial printing with this weeks long-anticipated acquisition of Inca Digital Printers. High-speed multi-pass printers High performance service organization, an attractive fit to further expand Agfa-Gevaert 's ton e of voice capabilities in the digital printing market.
- The June 2022 acquisition of Aleph SrL by the Durst Group is a testament to this: an example of how sustainability and environmental considerations are at the heart of creating new eco-friendly printing solutions. To promote water-based printing and to help encourage the industry's movement towards greater responsibility, this move is unparalleled.
Key Takeaways
The growth of Digital Printing Market is being driven by adoption of eco-friendly technologies and technological advancements.
Digital printing innovations, such as UV-curable inks and faster printer speeds are revolutionizing this technology for the better; increasing its possible uses while decreasing deterioration to the environment.
The North America region has been leading in innovation adoption while rapid expansion of e-commerce and digitalisation trends pertaining to Asia Pacific which are further contributing towards market growth.
Rising preference for sustainable printing technologies, alongside growing need for customization & personalization is influencing developments in the digital printing market.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Digital Printing Market Segmentation, by Print-head Type
8. Digital Printing Market Segmentation, by Application
9. Digital Printing Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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