The global digital printing market is experiencing a significant surge, with projections showing it will reach a value of US$ 27.9 billion in 2023 and is poised to achieve a Compound Annual Growth Rate (CAGR) of 6.1% between 2024 and 2034. By 2034, the market is anticipated to reach US$ 54.4 billion. Digital printing involves directly printing digital images onto diverse media substrates, eliminating the need for traditional printing plates used in offset printing. This technology allows for direct printing from desktop publishing files or PDFs onto various materials like paper, textiles, canvas, cardstock, synthetic materials, and others.
One of the primary drivers behind the expansion of the digital printing industry is the significant reduction in per-unit printing costs achieved through digital printers. Furthermore, digital printing processes generate less waste due to the ink being applied to the substrate’s top layer. Digital printing machines can achieve impressive printing speeds, reaching up to 4,800 sheets per hour. Inkjet printing, renowned for its exceptional color mixing capabilities and tonal variety, is currently the leading revenue generator within the digital printing market.
Technological advancements are revolutionizing the printing sector, gradually replacing traditional printing methods. Key players are actively integrating technological innovations into their products to gain a competitive edge in the on-demand digital printing market, particularly for small businesses. UV LED printers are being employed for hard plastic packaging applications to facilitate quick addition of variable data, including sterilization, QR codes, barcodes, or combinations of these elements. This continuous evolution through technical improvements is further propelling the growth of the digital printing market.
The digital printing process has significantly simplified printing on textiles, reducing downtime. Digital textile printing allows for direct printing of designs onto fabric once the design is finalized. Countries like India are witnessing a shift towards digital printing technology within their textile industries, developing new patterns for sarees and garment fabrics to cater to both domestic and international markets. The global textile and apparel market is estimated to be valued at US$ 4,395 billion by Textile Infomedia.
The packaging industry recognizes the immense potential of digital printing due to the emergence of diverse packaging techniques. Distinctive product branding leverages a wide range of printing processes. Industries involved in packaging encompass metal packaging, labels, cartons, flexible packaging, corrugated packaging, and rigid plastic packaging.
The growth of the digital printing market is fueled by various factors across different regions. The Asia Pacific region dominated the global digital printing market in 2023 and is expected to maintain its leading position throughout the forecast period. This dominance is attributed to the Chinese printing industry’s focus on end-to-end digitalized value-creation chains and digital platform solutions. Chinese companies are making substantial investments in digital presses to ensure rapid delivery of finished products. For instance, in October 2021, Tomato Cloud Technology Co., Ltd. placed an order for ten new Fujifilm Jet Press 750S digital inkjet machines. The D3000-A1R printhead addresses issues related to moisture evaporation near nozzles by enabling ink circulation at the nozzle level. This circulation enhances printing stability and provides engineers with additional options.
To address the demands of the sustainable packaging sector, major players in the digital printing market are investing in expanding their manufacturing capabilities. In January 2022, Smurfit Kappa Group announced an investment exceeding US$ 33 million in Brazil to boost its Fortaleza capacity. The primary objective was to install top-tier printers for handling e-Commerce packaging.
Prominent participants in the global digital printing market include:
* Amcor plc
* Avery Dennison Corporation
* Canon Inc.
* ColorJet Group
* DIC Corporation
* Durst Group
* Electronics for Imaging, Inc.
* Hewlett Packard Enterprise
* Inca Digital Printers Ltd.
* Konica Minolta, Inc.
* Mimaki Engineering Co., Ltd.
* The Ricoh Company, Limited
* Roland DG Corporation
* Seiko Epson Corporation
* Toshiba Corporation
* Xeikon B.V.
* Xerox Holdings Corporation
* Others
ARC Document Solutions LLC announced a collaboration agreement with Canon Solutions America in October 2023 to acquire Arizona printing systems and Colex cutting systems to enhance its digital color printing capacity. In February 2022, Canon established a highly automated production plant in Venlo, Netherlands, to meet the growing demand for water-based polymer inks. This facility is designed to minimize waste while consistently producing high-quality water-based polymer CMYK inks.
The global digital printing market can be segmented based on various criteria, including:
*
Printing Type:
Inkjet, Laser*
Ink Type:
Aqueous Ink, UV-Cured Ink, Solvent Ink, Latex Ink, Dye Sublimation Ink, Others*
Substrate Type:
Plastic Films or Foils, Release Liner, Glass, Textile, Paper, Ceramic, Others*
