Digital Textile Printing Inks Market to Surpass US$ 3.33 Bn in 2032 as Demand in the U.S. Grows 2X
DTG Manufacturers to Register Growth at 9.6% CAGR in North America Digital Textile Printing Inks Market
Fact.MR's new study on the digital textile printing inks market provides a 10-year forecast through 2022 and beyond. The study provides crucial dynamics, such as emerging opportunities, drivers, challenges, and latest trends shaping the market dynamics. To offer the information in a more vivid manner, the study has been segmented in terms of type, printer speed, printer technology, end-use application, and region.
NEW YORK, May 26, 2022 /PRNewswire/ -- The global digital textile printing inks market size is projected to be valued at US$ 3.33 Bn in 2032, exhibiting growth at a CAGR of 12.7% in the forecast period from 2022 to 2032.
As per Fact.MR, sales of digital textile printing inks are likely to reach a valuation of US$ 1 Bn in 2022, going up from US$ 908 Mn in 2021. Rising preference towards branded garments owing to favorable demographics and high per capita income are likely to augment growth.
Rising focus of key players on specialized markets and adoption of unique advertising strategies are set to enable them to generate more revenues. Rapidly evolving retail landscape across various brands, as well as rising fashion trends are likely to propel the demand for digital textile printing inks.
Moreover, short run lengths, high economic production, and emergence of new designs are some of the other factors augmenting the sales of digital textile printing inks. High demand for promotional wears, banners, and flags is also set to open new opportunities for prominent manufacturers.
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Besides, designers and retailers worldwide are expected to adopt digital textile printing as it is capable of producing inventory on demand. Increasing need for interior fabrics with the rising number of home renovation activities is also set to drive the market.
The ongoing trend of online shopping is likely to provide many start-ups and new designers with a novel platform to compete with the established retail brands. Digital textile printing has reduced the cost of entry to become an apparel or a home décor producer.
In addition, demand for sports apparel is anticipated to surge in the upcoming years with the rising awareness among people about health and fitness. Apart from that, increasing demand for personalized t-shirts, accessories, gaiters, and face masks from companies to boost their brand visibility is set to aid growth.
Key Takeaways:
- The U.S. digital textile printing inks market is expected to showcase growth at a CAGR of 14.5% from 2022 to 2032.
- Asia Pacific is anticipated to hold a digital textile printing inks market share of about 25.8% in future years.
- Sales of digital textile printing inks in Europe are likely to record US$ 1.35 Bn and expand at a CAGR of 15.1% by 2032.
- By type, demand for dye sublimation and acid dyes are projected to reach US$ 909 Mn and US$ 563 Mn in 2032, respectively.
- Based on printer technology, DTG manufacturers are estimated to grow at a CAGR of 9.6% in North America in the forecast period.
Growth Drivers:
- Ongoing development of novel printing methods and increasing demand for 3D printing technologies are set to push the market.
- Rising experimentation of the fashion industry with 3D printed shoes, dresses, and t-shirts is expected to drive growth.
Restraints:
- Lower manufacturing rate of digital textile printing ink, as compared to analogue printing may hinder growth.
- Digitally printed or 3D printed textiles fail to provide flexibility and comfort as they do not absorb moisture and have no air gap.
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Competitive Landscape:
Leading companies operating in the global digital textile printing inks market are focusing on participating in renowned exhibitions to showcase their in-house products and generate more sales. A few other key players are striving to introduce technologically advanced products in various parts of the world to expand their portfolios and strengthen their geographic presence.
For instance,
- In May 2022, Epson, a Japanese multinational electronics company, launched the Monna Lisa 8000, its new direct-to-fabric printer in North America. The latest product blends advanced design with precision engineering to enable companies to print in a wide range of fabrics.
- In May 2022, JK Group and MS Printing Solutions announced that they will be exhibiting their innovative printing solutions at the FESPA Global Print Expo 2022, which is considered to be the largest specialty print exhibition in Europe. The companies aim to present unique solutions to help organizations ensure a cost-effective printing output and sustainable production chain.
Key Companies Profiled by Fact.MR
- Amtex
- DCC Prints
- EFI
- DyStar
- DuPont
- Durst Group AG
- Everlight
- Hongsam
- Huntsman
- Inkbank
- Isonik
- Jk Group
- Kao Collins
- Lustre
- Marabu
- Sun Chemical
More Valuable Insights on Digital Textile Printing Inks Market
In the latest study, Fact.MR offers unbiased analysis on the global digital textile printing inks market for the forecast period of 2022 to 2032. This report also provides key factors such as recent developments and growth drivers influencing the sales in digital textile printing inks market through detailed segmentation as follows:
By Type:
- Dye Sublimation
- Reactive Dyes
- Acid Dyes
- Disperse Dyes
- Pigments
- Others
By Printer Speed (sqm/hr):
- <50 Digital Printers
- 50 - 100 Digital Printers
- 101 - 250 Digital Printers
- 251 - 400 Digital Printers
- 401 - 600 Digital Printers
- 601 - 800 Digital Printers
- 801 – 1,000 Digital Printers
- >1,000 Digital Printers
By Printer Technology:
- Roll to Roll
- DTG
By End-use Application:
- Fashion
- Sportswear
- Home Textiles
- Soft Signage
By Region:
- North America
- South America and Caribbean
- Europe
- Asia
- Oceania
- Middle East
- Africa
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Key Questions Covered in the Digital Textile Printing Inks Market Report
- What will be the demand outlook of digital textile printing inks market in 2022?
- What will be the growth rate of the global digital textile printing inks market during 2022-2032?
- Which are key drivers bolstering the growth in digital textile printing inks market?
- Which are the factors hindering the growth in the digital textile printing inks market?
- Which region is expected to exhibit the fastest growth in the global digital textile printing inks market during 2022-2032?
Explore Fact.MR's Coverage on the Chemicals & Materials Domain
Textile Chemicals Market: According to Fact.MR, the global textile chemicals market is set to reach USD 40.6 Billion by 2032 and grow at a CAGR of 4.3% from 2022 to 2032. This growth is attributable to the urgent need to reduce the volume of water and energy required during various stages of textile processing.
3D Printing Plastics Market: Increasing usage of 3D printing plastics for making prosthetics and implants is likely to drive the market in future. Besides, high demand for lightweight automotive components is set to compel auto makers to develop innovative products by using 3D printing plastics.
Textile Adhesives Market: Availability of relatively low cost raw materials and labor in China and India is projected to help textile manufacturers to rely more on the advanced adhesive technology. In addition to that, collaborative efforts by textile adhesive manufacturers with sports companies is another crucial factor that is set to bode well for the market.
About Fact.MR
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