The global digital textile printing market is anticipated to clock a remarkable CAGR of 17% over 2019-2029, as suggested by a new Future Market Insights (FMI) report. This astonishing market growth is majorly driven by increasing penetration of the printing sector in developing markets such as China, Mexico, and India, and technological advancements that have taken place over time.
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Sales of digitally printed textiles were on a strong upward trajectory until the Covid-19 pandemic struck in 2020. Since then, the market has witnessed tremendous disruptions, some of which continue to endure. The key disruption in 2020 was the abrupt and untimely shutdown of textile manufacturing units due to stringent lockdowns that were enforced in several countries.
Potential Impact of COVID-19
In light of the measurable impact of the COVID-19 pandemic on the printing industry, FMI projects that, industry players will most likely fail to meet their financial targets due to considerable supply chain disturbance, led by reduced customer demand. Alerted by the current market situation, leading players are building essential operational flexibility to survive the pandemic. In addition, the pandemic has triggered implications to digitally transform workplaces in order to better serve end users and thrive over the course of the following years. This crisis will possibly create a fertile ground for potential transformation of the digital textile printing market, as stated by the FMI study.
Signage Market Opening New Doors for Digital Textile Printing Manufacturers
Sign and display printers demand reliable, efficient, and low-cost products. Healthy demand for signs and displays is reinforcing steady market growth for digital textile printing. Outdoor, indoor, wall décor, and event décor are some the fastest-growing segments in the signage market that are using digital textile printing techniques. The aim is to increase sales in response to the rising number of short-run digital print jobs for events, team uniforms, corporate clothing, and others.
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Growing Inclination Towards Digital Textile Printing Designs Creating Opportunities for Designers
Earlier, unique and eye-catchy designs were only used for high fashion clothing that was exposed on the stages on foremost fashion weeks across the globe. But over the last few years, more and more high-fashion brands such as H&M and Zara are joining unique and more outbound designs in their pools.
Digital Textile Printing Market Outlook
The market for digital textile printing is heading towards a growth phase. This is primarily due to a noteworthy surge in demand for silk, polyester clothing with customized printing design. This has created tremendous opportunities in digital textile printing, and whilst new types of applications are pioneered by digital technologies, several traditional textile applications are likely to shift to digital.
Digital décor is a rapidly expanding new market. While posters and wallpaper have been printed for years, décor items such as curtains, drapes, tables, furniture coverings, chairs, etc. are now digitally printed. Not all of these items are to be printed on all kinds of textile material, however, for some aspects of decor for example-curtains is difficult to envision a “hard” substrate. Wallcoverings are likely to be a prominent growth area in this segment; undeniably, the entire segment of digital decor will be foreseeing strong growth.
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Promotional and Marketing Campaigns – Prospective Application Area
End-use industries such as personal care, food & beverages, automotive, and pharmacy are embracing digital textile printing on their sales advertising tools such as shopping points and banners. Sales promotions play an instrumental role in enhancing customer engagement and retention.