As suggested by the new Future Market Insights (FMI) report, the global digital textile printing market is expected to record an amazing CAGR of 17% between 2019 and 2029. This amazing market growth is driven primarily by increasing penetration of the printing sector in developing markets such as China, Mexico and India, as well as technological advances over time.
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Sales of digitally printed textiles were on a strong uptrend until the Covid-19 pandemic in 2020. Since then, the market has witnessed tremendous turmoil, some of which continues. The main turmoil in 2020 was the sudden and premature closure of the textile manufacturing sector due to the strict blockades enforced in some countries.
Potential effects of COVID-19
In light of the measurable impact of the COVID-19 pandemic on the printing industry, FMI is likely to fail to meet its financial goals due to significant supply chain disruptions resulting from reduced customer demand. I predict that. Paying attention to current market conditions, key players are building the operational flexibility essential to survive a pandemic. In addition, the pandemic has had the impact of digitally transforming the workplace to better serve end users and prosper over the next year. As stated in the FMI survey, this crisis could create a fertile foundation for the potential transformation of the digital printing market.
Signage market opening new doors for digital printing manufacturers
Sign-and-display printers need reliable, efficient, and low-cost products. Strong demand for signs and displays is strengthening the steady market growth of digital printing. Outdoor, indoor, wall decoration, and event decoration are the fastest growing segments of the signage market using digital textile printing technology. It aims to increase sales in response to the increase in short-term digital printing jobs such as events, team uniforms and corporate clothing.
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Increasing the inclination towards digital textile print design Creating opportunities for designers
Previously, unique and eye-catching designs were only used for fashionable clothing that was unveiled on the stage of the world’s most important Fashion Week. However, over the last few years, fashionable brands such as H & M and Zara have joined their own outbound designs.
Digital Printing Market Outlook
The digital printing market is heading towards a growth stage. This is mainly due to the remarkable surge in demand for silk and polyester garments with customized print designs. This created a great opportunity for digital textile printing. While new types of applications are being pioneered by digital technology, some traditional textile applications have the potential to move to digital.
Digital decoration is a rapidly expanding new market. Poster and wallpaper have been printed for years, but decorations such as curtains, drapes, tables, furniture covers and chairs are now digitally printed. Not all of these items are printed on all kinds of textile materials, but on some sides of the decoration, for example, curtains are hard to imagine a “hard” base. Wall coverings could be a significant growth area for this segment. Undoubtedly, the entire segment of digital decoration will foresee strong growth.
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Promotional and Marketing Campaigns – Future Application Area
End-use industries such as personal care, food and beverages, automobiles, and pharmacies are using digital textile printing for sales advertising tools such as shopping points and banners. Promotions play an important role in increasing customer engagement and retention.