The digital printing market
size is expected to grow from USD 24.8 billion in 2021 to USD 34.3 billion by
2026, at a CAGR of 6.7%. Growing demand for sustainable printing and
developments in packaging and textile industries are the key factors driving
the growth of the digital printing market.
Covid-19 Impact in the Digital printing market
COVID-19 has
brought businesses across all industries down, including the digital printing
domain. And as the world slowly goes into recovery, the way business is done
will never be the same again. COVID-19 has changed the dynamics for all
businesses in general.
While
technology has played an important part in our working lives for years, it has
never been so heavily relied on for things such as video conferences and
communicating with team members. While office printers may be used less, this
will now likely lead to a rise in home printers being purchased for those
working from home. Printing is still essential, especially if someone needs to
make hard copies of important documents.
Inkjet printhead
to hold largest size of Digital printing market in 2021
Inkjet print heads can either be of
continuous inkjet type or drop-on-demand inkjet printers. In the continuous
inkjet printer, a continuous stream of ink is supplied to the print head with
the help of a pump and a piezoelectric nozzle cycle. The continuous inkjet
printer leads to higher consumption of ink than -on-demand inkjet printers.
UV-cured ink to grow at highest CAGR during the forecast
period
UV-cured ink primarily consists of
acrylic monomers with a photoinitiator. After printing, the ink is exposed to a
strong ultraviolet (UV) light, traditionally a shuttered mercury arc lamp,
causing a chemical reaction that results in cross-linking of ink components to
a solid. This type of ink gets set and dries quickly on exposure to UV light
and can be sent to the next step of the production process. This makes it
durable and suitable for printing on a wide range of flexible materials, along
with direct to rigid substrates. UV-curable ink also offers some environmental
advantages; for instance, it allows printers to use ink without toxins, i.e.,
100% ink, and no wastage compared to solvent-based inks.
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North America to
hold largest share in 2021
In terms of value, North America
accounts for the largest share of the overall digital printing market in 2020.
The market in North America is driven by technological advancements in the
packaging and textile industry. The demand for digital printing for packaging
will be driven by factors such as increasing consumer durable sales, high
disposable income, increasing demand for packaged foods, and demographic
changes. The increased use of digital printers in packaging and textile
printing in the US is expected to drive the market in North America.
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