The global digital printing market size will grow to USD 34.3 billion by 2026 from USD 24.8 billion in 2021, at a CAGR of 6.7% during 2021–2026 periods. Growing demand for sustainable printing, developments in packaging and textile industries and reduction in per unit cost of printing with digital printers are the major factors driving the growth of the digital printing market.
Plastic film or foil substrate
to account for the largest share of Digital Printing Market in 2021
Plastic film or foil is a thin
continuous polymeric material. Plastic films are used in many applications such
as packaging, plastic bags, labels, building construction, landscaping, and
electrical fabrication. The growing demand for digital printing in the
packaging industry is expected to drive the demand for plastic films or foils
as a substrate for digital printing.
Solvent ink to account for the
largest share of Digital Printing Market in 2021
Solvent inks produce rich and
vibrant colors comprising petroleum-based chemicals. These are flexible,
waterproof, and durable, which eliminates the requirement of over-coatings.
They contain pigments rather than dyes. These are suitable for applications
such as vehicle graphics, banners, and billboards. Solvent ink printers enable
printing on flexible vinyl substrates. Unlike aqueous ink, this ink is durable,
UV-resistant, and waterproof; therefore, it is more beneficial for outdoor
advertisements.
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North America to account
for the largest share of digital printing market in 2021
In terms of value, North America
is expected to account for the largest share of the overall digital printing
market in 2021. Technological advancements in the packaging and textile
industry are the major factors driving the market growth in North America. The
demand for digital printing for packaging is expected to be driven by factors
such as increasing consumer durable sales, high disposable income, increasing
demand for packaged foods, and demographic changes. The growing adoption of
digital printers in packaging and textile printing in the US is expected to
drive the market in North America.
Key Market Players
Hewlett-Packard Development
Company, L.P. (US), Canon, Inc. (Japan),
Ricoh Company, Ltd. (Japan), Mimaki Engineering Co., Ltd. (Japan), Roland DG
Corporation (Japan), Xerox Corporation (US), Seiko Epson Corporation (Japan),
Durst Phototechnik AG (Italy), Electronics for Imaging, Inc. (US), Inca Digital
Printers Limited (UK).
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