Portland,OR, June 24, 2021 (GLOBE NEWSWIRE) -- As per the report, the global digital printing market was accounted for $25.74 billion in 2019, and is estimated to garner $35.71 billion by 2028, growing at a CAGR of 3.7% from 2021 to 2028.
Rise in demand for sustainable and cost-efficient printing methods and increase in demand from the food & beverage industry have boosted the growth of the global digital printing market. However, high initial investment hampers the market growth. On the contrary, surge in use of digital dyeing and printing technology in the automotive industry is expected to open lucrative opportunities in the future.
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Covid-19 Scenario
- Due to the Covid-19 pandemic, the manufacturing facilities were closed temporarily in various countries. Moreover, the supply chain was disrupted and raw material shortages occurred.
- The need for digital printers from end-use industries such as textile, ceramic, and glass was reduced owing to disruptions in daily operations. On the contrary, the demand would increase slowly post-lockdown as soon as the daily operations get back on track.
The global digital printing market is segmented on the basis of type, ink type, application, and region.
Based on type, the laser segment is expected to register the highest CAGR of 4.8% during the forecast period. However, the ink-jet segment held the lion’s share in 2019, contributing to nearly two-thirds of the market.
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On the basis of ink type, the UV-curable segment is projected to register the highest CAGR of 4.9% from 2021 to 2028. However, the solvent segment dominated the market in terms of revenue, accounting for nearly one-third of the market.
The global digital printing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific would register the highest CAGR of 5.5% during the forecast period. However, the market across North America held the largest share in 2019, contributing to more than one-third of the market.
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The global digital printing market includes an in-depth analysis of the prime market players such as Canon, Inc., DIC Corporation, Epson Co. Ltd., Hewlett-Packard, Konica Minolta, Ricoh Co., Ltd., Sakata INX Co. Ltd., Toshiba, Toyo Ink SC Holdings Co., and Xerox Corporation.
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