Integration of advanced technologies will bolster the growth of digital textile printing market, particularly in Canada and the US.
DUBAI, UAE / ACCESSWIRE / May 26, 2020 / Global sustainability concerns have been driving the transformation of printing industry, which primarily elevates the prospects of digital textile printing technology. Heightening demand for cost reduction, quality print, and greater reliability particularly drives the adoption of digital textile printing technology in fashion industry. Majorly buoyant with rising adoption for marketing activities, global digital textile printing market will exceed revenues of approximately US$ 8 Bn by 2029 end. A new Future Market Insights (FMI) report suggests that the upsurge in preference for deployment of direct to fabric (DTF) printing technology on a wide range of fabrics such as nylon, silk, and cotton will continue to assist the growth of digital textile printing market over the projection period, 2019 - 2029.
"Established players must acquire local businesses for gaining unassailable competitive advantage," concludes FMI.
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Key Takeaways of Digital Textile Printing Market Study
- Direct to Fabric (DTF) printing process will account for leading value proportion over the forecast period.
- Demand for sublimation ink continues to stay atop in the digital textile printing market followed by reactive ink.
- Manufacturers continue to prefer silk for use as substrate while the adoption of cotton will decline.
- North America will generate 1/3rd of total demand in the global digital textile printing market through 2029.
Digital Textile Printing Market - Key Growth Drivers
- Rising adoption of digital textile printing in displays will strengthen the market growth over the forecast period.
- Growing popularity of eye-catching graphics, elegance, and high visibility will fuel the demand for digital textile printing through 2029.
- Cost-competitive advertisement strategies of players will contribute substantially to the revenue pool of market.
- Variegated applications of digital textile printing in pharmacy, automotive, food & beverages, and personal care will generate prolific demand during the projection period.
Digital Textile Printing Market - Key Restraints
- Spectrum of fabrics which can be printed using digital textile printing technology is small compared to screen printing thereby impeding market growth.
- Digital textile printing is not durable compared to alternatives thereby hampering the growth of market.
Anticipated Impact of COVID-19 on Digital Textile Printing Market
Most manufacturing facilities are working with at most 50% of total workforce capacity. Social distancing measures imposed by governments to curb COVID-19 outbreak have compelled manufacturers to minimize their operations. Therefore, globally leading producers are operating with significantly reduced capacity. As a result, the growth of digital textile printing market declined substantially during the first quarter of 2020. However, some European countries and the United States are reopening the economy by easing restrictions. This will gradually revive the market growth through the second half of 2020. However, the spike may be temporary if the government is forced to re-impose lockdown due to second wave of infections.
Competitive Landscape of Digital Textile Printing Market
The global digital textile printing market is increasingly becoming highly competitive in nature. Some of the key companies in the global digital textile printing market that are profiled in this FMI report include, but are not limited to, Aeoon Technologies GmbH, Sawdex Digitex, Arunam Digital Prints, DG Prints Fab, SMR India Private Limited, Chelsey Chelsey, Home Decor Studio, Tex India Enterprises Pvt Ltd, HGS Machines Pvt. Ltd., Durst Phototechnik AG, Mimaki Engineering Co. Ltd., Konica Minolta, Inc., Ricoh Co Ltd., Seiko Epson Corporation, and HP Inc. Top players are undertaking multi-pronged strategies such as contracts, agreements, expansions, partnerships, acquisitions, and product development for strengthening their market footprint.
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More About the Report
This Future Market Insights study of 194 pages provides all-inclusive insights on the global digital textile printing market. The market analysis is based on printing process (direct to garment, dye sublimation, and direct to fabric), ink (sublimation, reactive, acid, direct disperse, and pigment), substrate (cotton, silk, rayon, linen, and polyester) and end use (clothing, households, display, and technical textiles) across seven key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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