Global Textile Printing Market to Reach 28.2 Billion Square Meters by 2026

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Mar 22, 2022, 05:40 ET

SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Textile Printing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Textile Printing Market to Reach 28.2 Billion Square Meters by 2026

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Edition: 19; Released: February 2022
Executive Engagements: 968
Companies: 126 - Players covered include aeoon Technologies GmbH; AM Printex Solutions; ATPColor Srl; Bordeaux Digital PrintInk Ltd.; Dazian LLC; Durst Phototechnik SPA; Fisher Textiles, Inc.; Glen Raven, Inc.; Hollanders Printing Systems B.V.; Huntsman International LLC; JV Digital Printing; Mehler Texnologies GmbH and Others.
Coverage: All major geographies and key segments
Segments: Technology (Screen Printing, Digital Printing); Fabric Type (Apparel, Interior/Furnishings, Industrial/Technical Textiles)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Turkey; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Textile Printing Market to Reach 28.2 Billion Square Meters by 2026
Textile printing is the process of applying color and design to a fabric. Steady population growth, increasing purchasing capability, and rapidly changing fashion trends are the key factors driving growth in the market. Driven by rising disposable incomes, consumers especially in fast-growing developing economies are gaining the ability to afford fabrics with attractive designs and designer wear. Market growth is also being favored by the rising preference for artistic fabrics among customers.

Sustainability, shorter run lengths, online collaboration, demand for textiles with vibrant colors, and changes in printing partner ecosystem are some of the trends that are likely to emerge post COVID-19 crisis. Renewed emphasis on eco-friendly procedures and toxic-free ingredients would emerge as a major trend in the textile printing ecosystem. The new sustainability awareness can potentially trigger the switch from traditional textile printing to digital textile printing, as digital approach is more sustainable and more viable in the long-run. Besides digital printing, shorter run lengths also influence the demand for high quality rotary screens, which still represent the most economical textile printing method. Online collaboration is another important area that is likely to widen its footprint in the textile printing domain. The post crisis period may also see textile printing firms emphasizing the flexibility in their operations and in the process prioritizing digital machines, which deliver new level of comfort and convenience in printing process.

Amid the COVID-19 crisis, the global market for Textile Printing estimated at 23.2 Billion Square Meters in the year 2022, is projected to reach a revised size of 28.2 Billion Square Meters by 2026, growing at a CAGR of 4.3% over the period analysis period. Screen Printing, one of the segments analyzed in the report, is projected to grow at a 2.8% CAGR to reach 24.6 Billion Square Meters by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Digital Printing segment is readjusted to a revised 16.5% CAGR for the next 7-year period. This segment currently accounts for a 7.8% share of the global Textile Printing market. The market for traditional textile screen printing, which is a labor-intensive technique, has witnessed growth led by steady population growth, rising consumer spending of people across the world, and rapidly changing fashion trends. However, with the emergence of digital textile printing and its fast adoption in the global market, the conventional screen printing method is facing stiff competition. Growth in Digital Printing segment will be driven by digital printing technology's ability to address technical limitations that are encountered in conventional printing applications, and its use in small-volume productions involving varied designs, which proves to be inefficient in the case of traditional printing.

The U.S. Market is Estimated at 1.5 Billion Square Meters in 2022, While China is to Reach 8.5 Billion Square Meters by 2026
The Textile Printing market in the U.S. is estimated at 1.5 Billion Square Meters in the year 2022. The country currently accounts for a 6.62% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 8.5 Billion Square Meters in the year 2026 trailing a CAGR of 5.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach 9 Billion Square Meters by the end of the analysis period. During the COVID-19 crisis period, several European companies have relocated their contracts from China, Pakistan and other eastern regions to locations closer to or within Europe such as Morocco, Turkey, Spain and Portugal. The trend is expected to continue in the post crisis period and the US companies are also likely to follow the same path and prefer non-Chinese partners, especially those based out of Mexico, Japan or Europe due to ongoing trade war and uncertain tariff scenario. Efforts to promote eco-friendly techniques for textile printing in developing economies, especially in China and India, are driving digital textile printing in these economies. More

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