Digital Textile Printing Market - Global Outlook and Forecast 2018-2023

INDUSTRY INSIGHTS

The digital textile printing market size to reach USD 53 billion by 2023, growing at a CAGR of around 17% during the forecast period. Digitalization in the process, equipment, and workflow of textile printing is offering a plethora of benefits to the end-users and the manufacturers in the industry. The leading vendors are leveraging rapid improvements and technological advancement in the supply chain to transform the global digital textile printing market. The incorporation of stabilizing technology, sublimation printer, and universalizing ink chemistries will revolutionize the global market. The development of enhanced functionalities is resulting in the exponential growth of the haute couture and sportswear section in the digital textile printing market. The integration of digital printing in the textile printing will help manufacturers handle complex mechanism, a wide range of multi-disciplinary skills in fabric printing, mechanics, ink chemistry, and designs to fulfil orders successfully and implementing the right technique in the process. Moreover, digital printing helps textile merchants sync production process with actual work orders thereby, driving the demand in the global digital textile printing market. These innovative technologies are wading off proofing and sample production and resulting in feasible short -run productions in the textile industry. The three factors attributing the demand for digital texting printing in the global market are consumer demands, globalization, and the growing need to increase supply chain efficiencies.

The benefits of using this technology in the textile industry includes better control of cashflow through print-on-demand for short runs, lower opportunity costs, demand for individuality, and higher accuracy. The growing need for management software that enable enhanced accuracy and increased visibility through the entire workflow from design to delivery will revolutionize the global digital textile printing market. 

KEY HIGHLIGHTS OF THE DIGITAL TEXTILE PRINTING MARKET

• The global digital textile printing market has become a fast growing technology & it is majorly witnessing growth due to the associated benefits of faster turnaround and environmental savings.
• The higher ROI, reduced set-up time from the digital printing technology has enabled increased production, saving in labour, resources and emerged as a practical option for many digital printing manufacturers.
•  Single-pass technology has witnessed growth in popularity, driving up installations on a global scale. R&D in the technology has radically increased efficiency and reduced printing costs.
• The textile printing industry is at the threshold of a revolution characterized by rapidly changing trends, technology breakthroughs, and expansion of applications through the advancement of materials.

MARKET DYNAMICS

The new emerging trend of functionalizing of textiles will transform the global digital textile printing market. The industry is witnessing the advancement of materials due to rapidly changing trends, technology breakthroughs, and expansion of applications. The extensive use of digital printers is resulting in the development of functionalizing textile in the global market. The introduction of functionalizing textiles used in swimming can resist frequent contact chlorine and water and exposure to sun by enhancing its color fastness. Some of the popular functionalizing textiles introduced in the global  digital textile printing market include flame retardants, color change monitoring properties, uv-rays absorption, infrared rays absorption, germicide properties, dirt repellent properties, optical whitening agents, wrinkle resistance, and controlled release of encapsulated substance such as drugs. Additionally, the introduction of eco-friendly inkjet technology will result in the evolution of the global digital textile printing market over the next few years.

DIGITAL TEXTILE PRINTING MARKET SEGMENTATION

• Ink type
• Application
• Geography

INSIGHTS BY INK TYPE

The trend of fluorescent printing in sports and safety apparels is driving sales in the global digital textile printing market

The global digital textile printing market by ink type is segmented into sublimation/disperses dye ink, reactive dye ink, acid ink, and pigment inks. The disperse/sublimation dye ink segment dominated the market share in 2017 and is estimated to grow at a CAGR of around 17% during the forecast period. The recent advancements in user-friendly color-management systems, design software, faster printers, higher utilization, and expanding gamut of inks are some of the factors attributing to the exponential growth of this segment in the global digital textile printing market. The sublimation and disperse dye ink find major applications in the interiors and garment industries. The emerging concept of DIY and on-demand custom textile fabric creation is leading to the development of the personalized home-textile sector in the global digital textile printing market. The consumers are leveraging online tools to select from a wide variety of images, design ideas, materials, and color palettes, resulting in the growth of the sublimation/disperse dye ink segment. The prominent players are implementing the direct-to-fabric printing method to enhance the quality of the product and gain a larger consumer base in the global digital textile printing market.

INSIGHTS BY APPLICATION

Fast-fashion trends and assortment of textiles to transform the global digital textile printing market during forecast period

The application segment in the global digital textile printing market is classified into fashion textiles, home textiles, and industrial textiles. The fashion textiles segment occupied more than half of the market share in 2017 and is anticipated to grow at a CAGR of approximately 18% during the forecast period. The introduction of smart garments and apparels created by using multifunctional fabrics is propelling the growth of this segment in the global digital textile printing market. The leading designers are differentiating their styles and are creating a niche through proprietary prints to sustain the intense competition in the fashion industry. The emergence of fast fashion that results in offering garment as soon as possible with one place for creating a collection and then delegating it to global factories for production will transform this market segment over the next few years. The integration of digital printing with DTG screen printing for specialty purposes such as puff, flocking, glitters, foils, and metallic will help vendors gain a larger digital textile printing market share and attract new consumers. Furthermore, the emergence of concepts such as superimposing, reflection, shadow, blurring, layering, and 3D printing will result in the evolution of this market segment.

INSIGHTS BY GEOGRAPHY

Flexibility over screen printing in Europe to fuel demand in the global digital textile printing market during forecast period 

The market by geography is divided into APAC, Europe, North America, and ROW. Europe dominated almost half of the market share in 2017 and is expected to grow at a CAGR of over 16% during the forecast period. The growing requirement for sophisticated technology, innovation, extremely high-quality goods and equipment, sustainability, and performance is driving the growth Europe in the global digital textile printing market. The top companies in the European market are investing in the procurement of equipment for inkjet printers to meet the growing demand for inventive garments and textiles in the region. The development of high-fashion trends in the UK and the Netherlands will create lucrative opportunities for leading digital textile printing manufacturers in the European market. The integration of digital printing will result in top quality fashion and textiles products in the EU manufacture clothes, cellulosic fibers, home, and technical textiles across various sectors. Also, the evolving business models and development of industrial-related textile printing solutions will revolutionize the European market during the forecast period.

KEY VENDOR ANALYSIS

The global digital textile printing market is consolidated, and new players are entering the market to leverage on the lucrative opportunities available for business development. The leading vendors in the market are focusing on integrating a test laboratory, innovation centers, developing factories for prototyping, volume-producing large industrial and commercial printing systems, and capacity expansion to sustain the competition. The prominent companies especially in the US and Japan are consolidating their business and expanding production capacities through strategic M&As. The introduction of integrated printing processes into value chains will help players occupy a larger market share and gain new consumer in the global digital textile printing market. The top companies are competing on the basis of low-cost production ability, supply capacities, compatibility, reliability, quality, price, and market recognition.

The digital textile printing market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments: