Global Digital Textile Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Global Digital Textile Printing Market is expected to register a CAGR of approximately 11. 95% over the forecast period (2021 - 2026). The demands from the textile market are growing rapidly. Major trends like increasing purchasing capability, population growth, and rapidly changing fashion trends, especially fast fashion brands like H&M, TopShop, and Zara change their collection, are key drivers for the growth of the market.
New York, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Digital Textile Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06190222/?utm_source=GNWKey Highlights
Digital textile printing incorporates the use of digital inkjet printing technology to add colorful designs to different kinds of fabrics. Because of the high demand in custom t-shirt printing and its possibility of providing unlimited design variations, with the help of Textile Design Software, digital textile printing has picked up the pace, and now, apart from the apparel industry, it is also being highly adopted in the commercial and home décor markets.
The advanced digital printing technology involves using less-harmful chemicals and mild solvents than those used in conventional printing technologies, such as offset printing and solid ink printing. Thus, with the increasing focus on green printing and cost-effective production, the demand for digital printing solutions is growing in the textile printing market.
Moreover, the development of various newer technologies like UV gel is also playing a role in the innovation of the industry. For instance, in May 2021, Canon launched a new 1630 UV gel printer. This industrial-grade printer offers companies operating in the large format market access to all advantages of UV gel technology at a lower investment to help further expand business opportunities by addressing lower volumes in the market. Engineered for durability, reliability, and stability, the Colorado 1630 base model can be configured according to each user’s unique business needs by adding modular options, such as FLXfinish, a second media roll, and easy double-sided printing.
Due to the COVID-19 pandemic, many countries imposed lockdowns that compelled consumers to stay indoors. This affected the fashion and signage industry, and demand declined drastically. Many display graphics companies were hit hard because of the pandemic. However, as the situation normalized, the demand for newer fabrics has increased. The ability of digital printing to shorten the cycle time allowed digitally printed textiles to perform better than the overall textile market during the pandemic.
However, the major challenge for the adoption of digital textile printing in a competitive textile market is the high ink cost and a large number of printing heads used in a high-speed single-pass machine whose maintenance and replacement cost is prohibitive and makes it uncompetitive against rotary printing.
*Key Market Trends*
Garment and Apparel Segment to Hold Significant Market Share
The garment and apparel printing techniques have evolved greatly since the initial years. The latest kind of printing technique available for garments and apparel is the digital printing of textiles. Digital fabric printing uses computer-controlled printers to transfer designs or images stored in a digital format onto the fabric. The technology allows designers and creators to create intricate patterns faster and more easily.
Sustainability and waste of textiles have always been a key concern in the textile printing market. The United Nations estimates that the fashion industry is responsible for approximately 10% of the greenhouse gas emissions heating the planet, which has led many to look at digital technologies.
Digital textile printing brings the textile design process onshore, therefore reducing turnaround time and shipping costs. It also reduces excess waste in the design process by allowing designers to create smaller fabric test runs and waste less while finalizing the fabric.
For instance, in October 2021, Kornit Digital Ltd. announced the release of its Kornit Presto MAX system for sustainable on-demand production of apparel and other textile goods. This Next-gen system for sustainable, single-step production efficiency is the first in the market to bring white printing on colored fabrics.
Furthermore, the increasing demand for "fast fashion" products owing to changing customer behavior, rapid urbanization, faster adaptability and reduced time span of fashion designs, and rising disposable income are expected to drive the demand for digital textile printing solutions in the garment and apparel segment during the forecast period.
Asia Pacific to Witness Highest Growth
Due to the low labor cost, the growth and development in the textile market in countries such as China and India has fueled the growth of the market in the region. Since the past few decades, China has been one of the leading producers and exporters of textiles. Additionally, investments in inventory such as shuttle-less looms and capacity expansions to manufacture good quality textiles are anticipated to boost the textile and clothing market.
According to World Trade Organization, China accounted for 43.5% of the global textile export value in 2020. China was also one of the global largest textile exporters in 2020, with an exporting value of around USD 154 billion. India stood at an exporting value of USD 15 billion in 2020. According to the National Bureau of Statistics of China, approximately 3.41 billion meters of clothing fabric were produced in China in October 2021.
Furthermore, the dramatic transformation of the textile production industry that followed the boom of digital textile printing and advances in dye-sublimation technology has opened up new, profitable market segments and application opportunities in the region. Soft signage for buildings and shop window displays, retail environments, and other points of sale have presented a great opportunity for textile printers and print service providers operating in the large format sector. The growing fashion industry, along with such trends, is expected to provide the market with further growth opportunities in the region.
*Competitive Landscape*
The Global Digital Textile Printing Market is growing in competition as the increasing demand for printed textiles and stable profitability are attracting new vendors in the market. The major players operating in the market are focused on new product launches and establishing partnerships due to the increasing demand for sustainable products. Some of the major players operating in the market include Kornit Digital, Seiko Epson Corporation, Mimaki Engineering, and Durst Group, among others.
October 2021 - Roland DG Corporation, a leading manufacturer of wide-format inkjet printers and printer/cutters, announced the launch of D-BRIDGE, a support website that provides a variety of helpful information about the benefits of digitalization and secrets of success for anyone engaged in creating, especially those involved in printing or manufacturing.
May 2021 - Global online fashion retailer and UK supplier ASOS and Fashion-Enter Ltd. announced that it is teaming up with Kornit for the adoption of Kornit Presto, an efficient, low-impact direct-to-fabric digital textile printing with zero water waste and accelerated production speeds. Kornit Presto is the most advanced single-step solution for direct-to-fabric printing.
*Additional Benefits:*
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06190222/?utm_source=GNW
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