Global Digital Printing Market to Witness Growth by a CAGR of ~6% throughout 2022 – 2030
Digital Printing Market Major Macro-Economic Indicators Impacting the Market Growth
The global digital printing market is estimated to occupy a sizeable amount of revenue by recording a CAGR of ~6% during the forecast period, i.e., 2022 – 2030, owing to the rising demand for sustainable printing, and developments in packaging and textile industries around the world. It was calculated that textiles were the world’s 7th most traded product, with a total worldwide trade of more than USD 800 billion.
In addition, textile trade represents approximately 4 percent of the total trade across the globe. Apart from these, escalating adoption of laser and inkjet printing solutions, and intensifying adoption of artificial intelligence and internet of things technologies are also crucial factors expected to drive market growth in the forthcoming years.
The market is segmented by printing process, ink type and packaging. Based on ink type, the UV-cured segment is predicted to witness robust growth during the forecast period in view of the lesser time taken by this ink to get set and dry, and its high suitability for printing on a wide range of materials.
Additionally, by printing process, the inkjet segment is projected to gather the largest share over the forecast period ascribing to its growing use of this technique as a result of its low cost and high quality of output worldwide.
Geographically, the global digital printing market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the rapidly growing textile and packaging industries in the region.
Moreover, Asia Pacific is predicted to register noteworthy market growth over the forecast period on the back of the rising penetration of digital solutions and end-to-end digitized value creation chains in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Advancements in Packaging and Textile Industries Worldwide to Propel Market Growth
Over the last few years, product manufacturers are emphasizing on the packaging of their products to be more attractive to accelerate sales. This is giving rise to the utilization of high-quality graphics on substrates such as plastic films, textiles and release liners, which in turn is predicted to augment the demand for digital printing significantly in the near future.
However, increasing demand for digital advertisements and e-books is expected to operate as key restraint to the growth of the global digital printing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global digital printing market which includes company profiling of Canon, Inc., Mimaki Engineering Co., Ltd., Roland DG Corporation, Xerox Corporation, Seiko Epson Corporation, Hewlett-Packard Development Company, L.P., Westrock Company, Amcor PLC, Avery Dennsion Corporation, Smurfit Kappa Group, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global digital printing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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