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Global Digital Printing Market Set to Reach USD 54.4 Billion by 2034: TMR Analysis
Digital Printing Market
The digital printing industry is poised for substantial growth, driven by continuous technological advancements and expanding applications in the textile and packaging sectors. Enhanced print manufacturing efficiency, improved supply chain management, and time-efficient production processes are key trends shaping the market's future.
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Market Dynamics: Digital printing involves the direct printing of digital images onto various media substrates without the need for printing plates, unlike traditional offset printing. This process is streamlined by sending desktop publishing files or PDFs directly to digital printing presses, which can handle a variety of substrates, including photo paper, fabric, canvas, cardstock, and synthetics.
One of the primary growth drivers for the digital printing market is the reduction in per-unit printing costs. Digital printers generate less waste as the ink lies on the substrate's top layer, and the machines can print up to 4,800 sheets per hour once the printing process begins. Additionally, the inkjet printing segment contributes the most revenue due to its higher tonal variation and exceptional color blending capabilities.
Technological Advancements Fueling Growth
Technological upgrades in printing are significantly boosting the demand for digital printing. The industry is moving away from conventional printers, with key market players integrating advanced technologies into their products to gain a competitive edge in on-demand digital printing for small businesses.
Recent developments highlight this trend:
• In May 2022, Hewlett Packard launched the HP Indigo 15K Digital Press and HP Indigo 100K Digital Press, offering shorter turnaround times, increased automation, and reduced costs for medium-to-high volume short runs.
• In September 2022, Westrock Company purchased the HP PageWide T1190 inkjet digital press to complement its existing printing capabilities.
• In September 2023, Fiery, LLC partnered with Esko to invest in R&D activities focused on digital print technologies.
The use of UV LED printers in rigid plastic packaging is also on the rise, enabling easy incorporation of variable data, such as sterilization, QR codes, and bar codes.
Growth in Textile and Packaging Sectors
The textile industry is increasingly adopting digital printing technologies, simplifying the process of printing on fabrics and reducing downtime. In countries like India, the textile industry is leveraging digital printing to create new designs for domestic and international markets. According to Textile Infomedia, the global textile and clothing industry is valued at USD 4,395 billion.
The packaging sector is also seeing significant opportunities for digital printing, driven by the emergence of diverse packaging methods. Digital printing is used in various packaging types, including metal packaging, labels, cartons, flexible packaging, corrugated packaging, and rigid plastic packaging. Advanced high-speed single-pass inkjet presses with strong sheet feeders offer higher throughput compared to traditional flatbeds, making them ideal for large-scale packaging applications.
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Regional Covered:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players and Developments
• 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
Notable developments include:
• In October 2023, ARC Document Solutions LLC partnered with Canon Solutions America to expand its digital color printing capabilities by purchasing Arizona printing systems and Colex cutting systems.
• In February 2022, Canon introduced a highly automated production facility for water-based polymer inks in Venlo, optimized for delivering high-quality CMYK inks and reducing waste.
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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