Digital Printing Market Size to touch US$ 27.2 bn by 2026
22 July 2020: The global Digital Printing market size is projected to reach USD 27.2 Billion by 2026, from USD 20.9 Billion in 2019, at a CAGR of 3.8% during 2021-2026, according to a recent study by Reports Valuates. Increasing flexibility, low cost per device, and emerging technology are expected to help the industry expand amid looming digitization for conventional printing service providers.
The growth of the digital printing market size is driven by the advancement of the packaging and textile industries. Conventional printing methods cannot meet the current fashion industry demands, and printers are enticed to look for new technologies. Surely, Inkjet printing technology, which was initially developed for printing on papers, is now increasingly being used in the fabric printing industry as it suits the demand of the textile market. This adoption by the textile and fashion industry is expected to increase the Digital printing market’s growth.
The industry is experiencing an increasing demand for premium packaging materials from various industries that manufacture cosmetics, alcoholic drinks, and household products. This, in turn, will propel growth for the global digital printing market size. China and India are the main textile suppliers and account for the highest number of textile printing manufacturers.