Allied Market Research Report Predicts That The Global Digital Textile Printing Market Will Reach $8.8 Billion By 2027 At 19.1% CAGR
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Portland, OR, As per the report published by Allied Market Research, the global digital textile printing market garnered $2.2 billion in 2019, and is anticipated to reach $8.8 billion by 2027, registering a CAGR of 19.1% from 2020 to 2027.
The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in demand for 3D printing technologies, advancements in printing methods, and change in fashion trends drive the growth of the global digital textile printing market.
However, high cost of equipment and raw materials and harmful environmental effect of digital printing hinder the market. On the contrary, surge in demand from emerging economies is expected to open new opportunities for the market players in the coming years.
COVID-19 scenario: The recent pandemic has adversely affected the global digital textile printing industry.
The industry has witnessed reduced demand for digital textile printing due to the global lockdown. In addition, new businesses and projects have come to a halt.
The shutdowns and restrictions on supporting industries including automotive, clothing, home décor, and others have affected the market in terms of revenue.
Moreover, governments in certain regions have initiated to revitalize some manufacturing industries, which may offer an opportunity to the digital textile industry to recover.
The global digital textile printing market is divided on the basis of ink type, substrate type, application, and geography.
Based on ink type, the sublimation segment held the largest market share, accounting for nearly half of the total market share in 2019.
The segment would maintain its lead throughout the forecast period.
On the other hand, the pigment segment is expected to manifest the highest CAGR of 21.9% during the study period.
Based on application, the display and others segment accounted for the largest market share in 2019, contributing to more than half of the total market share
The segment would rule the roost throughout 2027. However, the household segment is anticipated to register the fastest CAGR of 20.7% from 2020 to 2027.
The global digital textile printing market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA.
The market across Europe held the largest share in 2019, contributing to more than one-third of the market.
Moreover, the Asia-Pacific region is expected to register the fastest CAGR of 20.7% of the market.
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon.
Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions."
AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
