New York , Jan. 16, 2024 (GLOBE NEWSWIRE) -- The global digital textile printing inks market size is expected to expand at 13% CAGR from 2023 to 2033. The market is anticipated to garner a revenue of USD 4 billion by the end of 2033, up from a revenue of USD 1 billion in the year 2022. The last 20 years have seen an enormous increase in the consumption of clothing driven by growing disposable income, changing fashion trends, and an increasing population. For instance, in ten years, the world's garment consumption is expected to increase by over 100 million tons.
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Every year, fashion consumers purchase more than 75 billion new articles of apparel, and are willing to spend around USD 2571 billion by 2025 on clothing and footwear. Moreover, the ability of the fashion industry to implement trends is well-known which has led to an increase in the consumption of sustainable clothes, which is expected to drive the adoption of digital textile printing inks as they provide a host of benefits in terms of water use, and energy consumption.
Digital Textile Printing Ink Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- Fashion segment to garner the highest growth
- Market in North America to grow at a significant rate
Growing Spending on Personalized Products to Boost Market Growth
Today's consumers want and expect individualized services and goods as they offer better customer outcomes and performance. When consumers see their buying experience as highly individualized, they are over 35% more likely to exceed their budget. Fashion designers and manufacturers acknowledge the growing trend of consumers' need for customization and their willingness to pay extra for precisely fitted clothing. According to a survey, more than 75% of loyal customers only purchase from companies that offer a personalized shopping experience. All these factors have led to an increase in custom fabric printing, which is expected to drive the demand for digital textile printing ink that uses inkjet technology for printing dyes onto textiles and permitting versatile customization of various textiles.
Digital Textile Printing Ink Industry: Regional Overview
The global digital textile printing ink market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Textile Industry to Drive the Growth in the Asia Pacific Region
The digital textile printing ink market in Asia Pacific region is estimated to garner the largest revenue by the end of 2033. This can be attributed in large part to the rising textile industries in nations particularly China and India, which foster the development of digital textile printing and also offer vast opportunities for industry growth. India has one of the biggest textile industries in the world economy which is predicted to have a staggering two-fold growth in productivity by 2030 impelled by demographics, and mounting demand for lifestyle products. Besides this, China has the biggest textile sector in the world which outsources more textile production globally than any other nation. For instance, China manufactured more than 2 billion meters of apparel fabric as of July 2023 and has yearly export sales of around USD 145 billion with an annual share of GDP of over 7%. Additionally, customized textiles are in high demand as Chinese consumers want more distinctive and personalized items, leading to a higher demand for digital textile printing inks.
Increasing Digital Printing Industry to Drive the Growth in the North America Region
The North America digital textile printing ink market is estimated to garner the largest revenue by the end of 2033. The highest market for digital printing is the United States, which has transformed the textile business by providing countless options for vivid designs on a range of fabric types. According to print industry statistics, the market for digital printing in the US is projected to grow to over USD 37 billion by 2023 driven by the growing popularity of web-to-print solutions, and advancements in digital printing technology. Additionally, North American consumers want highly customized experiences from brands, encompassing everything from interior design to makeup and fashion, which is expected to drive the demand for digital textile printing ink.
Digital Textile Printing Ink Segmentation by Application
- Fashion
- Sportswear
- Soft Signages
- Home Textiles
The digital textile printing ink market fashion segment is anticipated to hold the largest revenue by the end of 2033. The growth can be attributed to the growing personal disposable income. The United States had over 0.2% gain in disposable personal income in September 2023. As a result, individuals are spending more on fashion. For instance, by 2025, the fashion and clothing industry is projected to represent over 24% of India's online consumer spending. As a result, there is a higher demand for personalized items, leading to the popularity of digital printing in the fashion industry. Manufacturers can streamline their production with digital printing as it provides a more environmentally friendly alternative that helps reduce waste and pollution.
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Digital Textile Printing Ink Segmentation by Substrate
- Natural Fiber
- Synthetic Fiber
The digital textile printing ink market fashion segment is anticipated to hold the largest revenue by the end of 2033. natural fiber segment is anticipated to hold the largest revenue by the end of 2033. This is largely due to the growing production of natural fiber. For instance, the global production of natural fiber reached over 33 million tons in 2022, from around 100,000 tons in 2021. Natural fibers like jute, sisal, and silk are resilient and renewable. Moreover, the natural fabric can be utilized as a medium for digital printing since it is pure and free of oils and other impurities helps in achieving consistent print quality, and is capable of effectively absorbing and retaining ink. In general, natural textiles like cotton, silk, wool, and linen work well for digital printing owing to their flat and smooth surface.
Digital Textile Printing Ink Segmentation by Type
- Reactive
- Acid
- Direct Disperse
- Sublimation
- Pigment
A few of the well-known market leaders in the global digital textile printing ink market that are profiled by Research Nester are Sun Chemical Group Cooperatief U.A., Kornit Digital Ltd., Dover Corporation, BASF SE, DyStar Singapore Pte Ltd, Zhengzhou Hongsam Digital Science & Technology Co., Ltd., Epson Corporation, Huntsman International LLC, Sawgrass Technologies Inc., SPGPrints, Zhejiang Lanyu Digital Technology Co. Ltd., and other key market players.
Recent Development in the Digital Textile Printing Ink Market
- Sun Chemicals Group announced that as allowed by contracts, prices for all of Sun Chemical's packaging, commercial sheetfed and screen inks, coatings, consumables, and adhesives in the North American region will rise.
- Epson Corporation announced a partnership with Yuima Nakazato, a Japanese fashion designer, to create an exciting new couture collection by using Epson's sustainable digital textile printing technology using more sustainable pigment inks to improve sustainability in the fashion industry.
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