Global Digital Printing Market Analysis
According to Verified Market Research, the Global Digital Printing Market was valued at USD 21.35 Billion in 2018 and is projected to reach USD 33.49 Billion by 2026, growing at a CAGR of 5.76 % from 2019 to 2026.
Digital Printing is a modern method of production that allows for printing from electronics 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). Digital printing does not require a printing plate in contrast to the more traditional offset printing.
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Digital printing involves the document to re-create on a computer and then printed directly onto the material of your choice. Digital printing 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.
Global Digital Printing Market Overview
As digital printing eliminates the need for the various steps that were once required for conventional printing (the various instruments used for the arrival to the end product), the cost for the overall process of printing decreases as a result. Thus, it contributes in driving the global digital printing market.
With the emergence of digital printing came the broadening of the scope for several industries. Digital printing allows for the printing of digital-based images, to be directly printed onto various media substrates such as paper, photo paper, canvas, fabric, synthetics, cardstock and other substrates. This increase in the opportunity for a customizable technique that allows for conventional materials such as fabric and packaging material lead to the significant facilitation of the packaging and the textile industry.
On the other hand, the high cost of investment in digital printing acts as a restraint for the growth of the overall digital printing market. These costs included the purchase price & installations fees (if applicable), maintenance and support costs as well as the cost for ink and other consumables.
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Global Digital Printing Market: Segmentation
The Digital Printing market is segmented on the basis of type, ink type, print head type, substrate type and geography. On the basis of ink type, the market is bifurcated into Aqueous Ink, Solvent Ink, UV-Cured Ink and Others.
The market for UV-Cured ink is expected to grow at the highest CAGR over the forecast period. 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.
On the basis of the regional analysis, the global Digital Printing market is classified into North America, Europe, Asia Pacific and Rest of the world. The digital printing market in the Asia Pacific region is projected to grow at the highest CAGR over the forecast period.
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The major players in the market are Ricoh Company, Ltd., Miami Engineering Co., Ltd., Xerox Corporation, Seiko Epson Corporation, DIC Corporation, Toyo Ink Sc Holdings Co., Ltd., and Sakata Inx Corporation.
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