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Global digital printing market to reach $35.71 billion by 2028 at 3.7% CAGR
The global digital printing industry generated $25.74 billion in 2019, and is expected to reach $35.71 billion by 2028, witnessing a CAGR of 3.7% from 2021 to 2028, according to a report by Allied Market Research.
An increase in demand for sustainable and cost-efficient printing methods and surge in demand from the food & beverage industry drive the growth of the global digital printing market. However, high initial investment hinders the market growth. On the other hand, rise in usage of digital dyeing and printing technology in the automotive sector creates new opportunities in the coming years.
In terms of regional performance, North America contributed to the highest share in terms of revenue in 2019, holding more than one-third of the global digital printing market, and is expected to maintain its dominance by 2027. This is attributed to availability of next-generation advanced printing technologies along with the presence of prime vendors in the region.
However, Asia-Pacific is expected to witness the largest CAGR of 5.5% during the forecast period, owing to deployment of digital printing applications across textile, food & beverage, and packaging industries.
Covid-19 Scenario Due to the lockdown measures implemented by governments in various countries, manufacturing activities are hindered. In addition, supply chain disrupted and raw material shortage occurred. The demand from application industries such as textile, ceramic, and glass decreased due to disruptions in daily operations. However, the demand would grow steadily during the postlockdown as daily operations get back on track.
The inkjet segment to maintain lead position
Based on type, the inkjet segment contributed to the highest share in 2019, accounting for nearly two-thirds of the global digital printing market, and is expected to maintain its lead position during the forecast period.
This is attributed to advent of nextgeneration cartridge-free inkjet printers and rise in demand for high-quality output printing solutions from the household, commercial and industrial sectors.
Canon Arizona 135 GT
The Arizona 135 GT UV-LED flatbed printer can handle substrates of up to 125 x 250 cm in size and up to 50.8 mm thick and to print at speeds of up to 34.2 m²/hour, with VariaDot greyscale printing technology. It has a vast range of durable applications are achievable on rigid or flexible media with standard or porous surfaces, including glass, aluminium and other metals, canvas, wood, MDF, cardstock, ceramic tiles and plastics.
Fujifilm Revoria
The Revoria Press PC1120 is a production colour printer that can handle paper of different thicknesses ranging from thin paper at 52 g/m2 to thick paper at 400 g/m2. Targeted at the high-end professional printing market, it prints at a high speed of 120 pages per minute (A4 horizontal) while achieving high definition, high resolution prints of 2,400 dpi with its Super EA-Eco toner. Equipped with a one-pass, six-colour print engine, up to two special toners such as gold, silver, clear, white, pink, and custom red can be used in addition to the basic CMYK toners.
However, the laser segment is projected to manifest the highest CAGR of 4.8% from 2021 to 2028, owing to demand for advanced printing solutions to improve productivity and environment-friendly features offered to the end-users.
The solvent segment to maintain its leadership status
Based on ink type, the solvent segment held the highest share in 2019, contributing to nearly one-third of the global digital printing market, and is projected to maintain its leadership status during the forecast period.
This is attributed to usage in flexographic and gravure printing due to the ability to dry quickly and resist water along with implementation in publication segments such as newspapers, magazines, and catalogs.
However, the UV-curable segment is estimated to portray the fastest CAGR of 4.9% from 2021 to 2028, owing to its high drying capability and usage in the automotive and consumer electronics sectors.
EFI VUTEk Q Series
The new EFI VUTEk Q3r and Q5r UV LED printers produce a wide range of challenging applications, like the most demanding premium POP with multi-layer white and cosmetics displays that demand the highest print quality to the highest volume campaigns that requires the lowest cost of production. The fastest, most productive roll-to-roll display graphics printers in their class, the 198-inch wide VUTEk Q5r printer runs at speeds up to 672 m²/hour, and the 138-inch wide VUTEk Q3r model prints up to 558 m²/hour.
