Digital Printing Market to Reach USD 53.6 Billion by 2032 | CAGR: 7.6% | DataHorizzon Research

Fort Collins, Colorado, Sept. 18, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Digital Printing Market Size, Growth, Share, Statistics Report, By Type (Inkjet and Laser), By Ink (Aqueous, Solvent, UV-curable, Dye Sublimation, Latex and Others), By Application (Plastic Film, Fabric, Glass, Paper, Ceramics), By Region and Segment Forecasts, 2023-2032.” 

According to DataHorizzon Research, The digital printing market size was valued at USD 25.9 Billion in 2022 and is expected to have USD 53.6 Billion by 2032 with a CAGR of 7.6%. The increasing adoption of digital technologies across various verticals, such as the manufacturing and packaging industry, bolsters market growth. Additionally, various companies are adopting digital printing due to its advantages such as low waste generation, time savings, lower number of steps in printing, and more economical printing than traditional printing. Digital printing also does not utilize printing plates, enhancing the flexibility of printing design. These aforementioned factors are leading to a surge in the adoption of digital printers.

The customizability and variability of digital printing are presenting various opportunities to key market players. Direct-to garment (DTG) and direct-to-fabric (DTF) printing are in high demand because of the growing popularity of e-commerce and the trend toward customized products. DTG printing is similar to printing on paper and involves spraying ink onto apparel. It is useful to add intricate, multicolored images to t-shirts, sweatshirts, tote bags, and other fabric goods, which enhances the product's aesthetic appeal.

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Report Snapshot:

Segmentation Overview

The digital printing market has been segmented into type, ink, application, and region. Based on the type, inkjet printer has a significant market share and is expected to maintain its position during the forecast period. Based on ink, the UV cured ink segment is anticipated to exhibit substantial growth. This ink uses UV light for curing and offer bright and sharp colors, which is the reason for their high adoption. Based on application, the fabric segment is expected to exhibit substantial growth in the market due to increasing demand for customized apparel printing.

Geographically, North America held a significant share of the digital printing market owing to the growing requirement to improve process efficiency in various industries involving printing, such as packaging. Asia Pacific is expected to register significant growth during the forecast period. This can be attributed to the growing supply chain industry in this region, which is leading to technological advancement across various processes of the industry. Additionally, increasing investment by major players contributes to market growth in the region.

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Key Developments in the Industry:

• In March 2023, Smurfit Kappa Chelmsford invested USD 5.86 million in a state-of-the-art color printer named Gopfert HBL 2.1m. This investment is expected to boost print capacity and material handling as well as boost the brand’s visual presence. The Gopfert HBL has various features, including sophisticated quality control system, auto print registration, and color control, which maintain the print quality job to job.

• In February 2022, Canon launched a new ink tank business printer to its MAXIFY Ink Efficient GX Series portfolio. The new printer is developed to increase efficiency and productivity in offices and businesses by integrating low color printing costs with speed, paper handling and networking capabilities.

Digital Printing Market Report Highlights:

• The Digital Printing market is projected to attain a CAGR of 7.6% by 2032.

• The Inkjet segment held a significant market share and is predicted to remain dominant during the forecast years.

• The solvent ink segment also held a significant market share owing to its compatibility with the generally used printers.

• The paper segment is expected to account for a significant share in the digital printing market due to the wide application of paper in various business promotional materials.

• Asia Pacific is expected to exhibit significant growth during the forecast period. This is because of the growing adoption of digital printing in the textile industry.

• The prominent players in the digital printing market report include Hewlett-Packard Development Company, Canon, Inc., Ricoh Company, Ltd., Mimaki Engineering Co., Ltd., Roland DG Corporation, Xerox Corporation, Seiko Epson Corporation, Durst Phototechnik AG, Electronics for Imaging, Inc., Inca Digital Printers Limited, Printronix, Brother Industries, Ltd., Oki Electric Industry, and Kyocera Corporation. 

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Digital Printing Market Report Segmentation:

Digital Printing Market, By Type (2023-2032)

• Inkjet
• Laser

Digital Printing Market, By Ink (2023-2032)

• Aqueous
• Solvent
• UV-curable
• Dye Sublimation
• Latex
• Others

Digital Printing Market, By Application (2023-2032)

• Plastic Films or Foils
• Fabric, Glass
• Paper/Books
• Ceramic

Digital Printing Market, By Region (2023-2032)

• North America

• • U.S.
  • Canada

• Europe

• • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific

• • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa

• • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa

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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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