Digital Printing Market Forecasts to 2028 – Global Analysis By Printing Technology (Electrophotography, Direct Thermal Printing), Application (Books, Digital Printing), End User (Cosmetic, Pharmaceuticals) and By Geography
According to Stratistics MRC, the Global Digital Printing Market is accounted for $22.79 billion in 2020 and is expected to reach $44.76 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Some of the key factors propelling the market growth include growing demand for sustainable printing and developments in packaging and textile industries, reduction in per unit cost of printing with digital printers, rapid industrialization, growing demand of printing for e- commerce, and rising demand for digital advertisements. However, high initial investments are likely to restraint the market.
Digital Printing is a modern method of production that allows for printing from electronic files. Digital printing can be defined as the process of printing digital-based images, which can be directly printed onto various media substrates (paper, photo paper, canvas, fabric, synthetics, cardstock, and other substrates). It does not require a printing plate in contrast to the more traditional offset printing. Digital printing involves the document to re-create on a computer and then printed directly onto the material of your choice. It is an alternative to various other more conventional methods much as lithography, flexography, gravure, letter press, and others. The technology of digital printing eliminates several of the mechanical steps that are usually required for more traditional printing methods such as manually stripping pieces together, making plates or making films and color proofs.
By ink type, the ultraviolet (UV)-cured ink segment is anticipated to grow at the significant rate during the forecast period. The UV cured inks typically contain reactive monomers, oligomers, pigments and additives, and photoinitiators. The biggest advantage of UV cured inks is that the inks offer instant drying on a wide range of substrates from metals, glass, and ceramics to flexible packaging, thin-gauge polymeric films, and more. With the increasing availability of curing technologies, new delivery systems, and raw materials the scope for UV cured ink is growing. This type of ink gets set and dries quickly on exposure to UV light and can be sent to the next step of the production process. This makes it durable and suitable for printing on a wide range of flexible materials, along with direct to rigid substrates. UV-curable ink also offers some environmental advantages; for instance, it allows printers to use ink without toxins, i.e., 100% ink, and no wastage compared to solvent-based inks.
On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to rapid growth in industrialisation that has created increase in demand for digital printing. Moreover increase in demand from textile industry, packaging industry and others leverages a positive impact on the market growth in this region. The Chinese printing industry shows a high level of enthusiasm and interest toward new, data-based business models, digital platform solutions, and end-to-end digitized value creation chains. The digital printing penetration has enabled the local designers to have online access to over 12,000 folding carton designs, making the designing of packaging as a forefront toward adoption. The Japanese digital printing market is driven by various factors, such as the growing adoption of e-commerce, consumer electronics, and packaged and processed food. Besides, factors such as the rise in demand for various application areas have been driving the market growth in the country.
Some of the key players in Digital Printing Market include Westrock Company, DS Smith PLC, IronMark Inc., Smurfit Kappa, Southland Printing Company Inc., Avery Dennison Corporation, Mondi PLC, Hewlett-Packard Development Company, l.P., Xeikon NV, Canon, Inc., Seiko Epson Corporation, Amcor PLC, Xerox Corporation, Samsung Electronics, Toshiba, Kyocera Corporation, and Panasonic.
Estimated Market Size in 2020:
USD 22.79 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 44.76 billion
Tables, Graphs & Figures
Ink Type, Substrate Type, Printing Technology, Print Head Type, Packaging, Format, Application, and End User
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Ink Types Covered:
• Solvent Ink
• Dye Sublimation Ink
• Ultraviolet (UV)-Cured Ink
• Aqueous Ink
• Latex Ink
• Water Based Ink
Substrate Types Covered:
• Release Liner
• Paper & Paperboard
• Plastic Films or Foils
• Technical Textiles
Printing Technologies Covered:
• Electrophotography & Electrostatic Printing
• Toner-based Printing Systems Iconography
• Thermal Transfer Printing
• Direct Thermal Printing
Print Head Types Covered:
• Flexible Packaging
• Metal Packaging
• Folding Cartons
• Rigid Plastic Packaging
• Corrugated Packaging
• Full Color Printing
• Large Format Printing
• Variable Data Printing
• Commercial Printing
• Digital Printing Service
• Printer Suppliers
• Information Technology (IT) Service
• Cloud Service
End Users Covered:
• Food & Beverage
• Household & Cosmetic Products
• Pharmaceuticals and Healthcare
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Digital Printing Market is majorly driven by developments in packaging and textile industries, rising demand for digital advertisements, rapid industrialization, and increasing usage of UV curable ink and dye sublimation.
The ultraviolet (UV)-cured ink segment is growing at a highest CAGR owing to increasing availability of curing technologies, the scope for UV cured ink is growing, and instant drying on a wide range of substrates from metals, glass, and ceramics to flexible packaging, thin-gauge polymeric films, and more.
North America dominated with a significant market share due to increasing consumer durable sales, high disposable income, increasing demand for packaged foods, demographic changes, and increased use of digital printers in packaging and textile printing in the US.
Asia Pacific market is growing at a highest CAGR owing to the rapid growth in industrialization that has created increase in demand for digital printing, technological developments along with increasing methods of printing, and growing adoption of e-commerce, consumer electronics, and packaged and processed food.
Key players in Digital Printing Market include Westrock Company, DS Smith PLC, IronMark Inc., Smurfit Kappa, Southland Printing Company Inc., Avery Dennison Corporation, Mondi PLC, Hewlett-Packard Development Company, l.P., Xeikon NV, Canon, Inc., Seiko Epson Corporation, Amcor PLC, Xerox Corporation, Samsung Electronics, Toshiba, Kyocera Corporation, and Panasonic.
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