Pune, India, Jan. 05, 2022 (GLOBE NEWSWIRE) -- The global digital textile printing market size is estimated to reach USD 311.7 million by 2028 and exhibit a CAGR of 10.1% during the forecast period. The growing consumer awareness for trending apparel fashion and clothing is anticipated to be the key factor driving the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Digital Textile Printing Market, 2021-2028”. The market stood at USD 147.4 million in 2020 and is expected to reach USD 159.1 million in 2021.
The growing need for printed fabric materials and textiles has induced manufacturers to adopt digital printing technology for better and faster fabric printing. The development of compact, fast, and lightweight printers attracts more customers towards printed fabric clothing products. The development of advanced digital textile printings is likely to stimulate market growth in the upcoming years.
Key Players in the Digital Textile Printing Market:
- Mimaki (Nagano, Japan)
- Kornit (Rosh Haayin, Israel)
- SPGPrints (Boxmeer, Netherlands)
- Konica Minolta (Tokyo, Japan)
- Atexco (Paris, France)
- Dover Corporation (MS Printing Solutions Srl) (Illinois, U.S.)
- MS Printing (Pertusella VA, Italy)
- Robustelli (Connecticut, U.S.)
- Kaiyuan (Gaoxin District Xi'an, China)
- SPG Prints B.V. (Boxmeer, Netherlands)
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 10.1% |
| 2028 Value Projection | USD 311.7 Million |
| Base Year | 2020 |
| Market Size in 2020 | USD 147.4 Million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | By Operation, By Application and Geography |
| Growth Drivers | Vital Players Bolster their Market Positions Through New Product Launches |
| Asia Pacific to Gain the Largest Share due to Growing Needs for Printed Fabrics | |
| Growing Consumer Awareness for Trending Fashion Apparel to Fuel Market Growth |
Segmentation-
On the basis of operations, the market is bifurcated into multi pass and single pass. On the basis of application, the market is segmented into clothing and apparel, soft signage, home décor, and others. Geographically, the market is classified into five major regions- North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage-
- The report provides a granular review of the prospected market.
- The report highlights a methodical examination of vital players functioning across diverse geographies.
- The report provides visions into the supervisory situations of the market.
- The report is grounded on historical data and offers techniques and prospects for impending growth.
- The report also accentuates the influence of the COVID-19 pandemic.
COVID-19 Impact-
The global pandemic has severely impacted the global economy and stagnated the growth of several industries and markets. This market has witnessed a negative impact of the coronavirus outbreak. The disruptions in the global supply chain networks due to the implementation of stringent lockdowns and curfews have affected the market's growth. Additionally, the consumer’s focus has shifted to essential expenditures, which has declined the demand for clothing and textile products. Nonetheless, the vaccine is now accessible to the masses, and the market is progressively recovering. The market is likely to perceive steep growth post the pandemic situation.
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Competitive Landscape-
Vital Players Bolster their Market Positions Through New Product Launches
The crucial players in the market are fixated on strengthening their operations and logistical networks that were impacted by the coronavirus pandemic. They adopt various ingenious growth tactics such as collaborations, acquisitions, mergers, and others to garner growth and improve their market positions. The key players aim to diversify their product portfolios through new product launches and technological developments. For instance, in February 2020, Mimaki launched a hybrid digital textile printer called the Tx300P-1800 Mkll. The new printer is capable of performing transfer printing with interchangeable platens.
Regional Insights-
Asia Pacific to Gain the Largest Share due to Growing Needs for Printed Fabrics
Asia Pacific is anticipated to hold the largest portion in the global digital textile printing market share. India and China are expected to be the leading regions in the market. The ever-increasing population and the growing needs for printed fabrics are likely to bolster the growth of the market.
North America is expected to witness considerable growth due to the substantial imports of textiles.
Europe is projected to gain steep growth in the coming years due to the increasing use of digital printing in the soft signage segment. The market possesses significant untapped growth potential.
The surging urbanization and the expanding imports of textiles are anticipated to drive the growth in the Middle East and Africa.
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Drivers & Restraints-
Growing Consumer Awareness for Trending Fashion Apparel to Fuel Market Growth
Digital printing machines help businesses to improve profitability by reducing operational costs and enhancing print quality. Additionally, the automation of the process helps to cut down the human resource requirements at the facility. The overall cost advantage of digital printing machines is anticipated to bolster the global digital textile printing market growth. Additionally, the development of advanced digital printers by key manufacturers is likely to boost the growth of the market.
The growing consumer awareness for trending fashion apparel and clothing is expected to be the key factor driving the growth of the market. Moreover, the improving personal disposable income levels and living standards of consumers are anticipated to stimulate the market’s growth in the upcoming years. Digital printing solutions offer virtual printed models of fabrics, and users can get a glimpse of the finalized product before initiating the actual process. This helps the consumers choose the best-suited fabric texture and is likely to amplify the market's growth.
However, the high costs of employing digital printers are expected to hinder the market growth.
Major Table of content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Applications
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Digital Textile Printing Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Digital Textile Printing Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
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-
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
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- Primary Interview Responses
- Annexure / Appendix
TOC Continued…!
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