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Digital Textile Printing Inks Market 2024: Future Outlook and Growth Drivers
digital textile printing inks market
According to The Business Research Company's, The digital textile printing inks market size has grown rapidly in recent years. It will grow from $1.39 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 19.1. The growth in the historic period can be attributed to demand for customization, expansion of textile applications, rise of e-commerce, expansion of fashion industry.
The digital textile printing inks market size is expected to see rapid growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to increasing demand for customization, rising environmental concerns, expansion of e-commerce, demand for fast fashion, urbanization and population growth. Major trends in the forecast period include integration of nanotechnology, development of water-based inks, advancements in UV-curable inks, innovation in conductive inks, adoption of dye-sublimation inks.
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Market Drivers and Trends:
The expanding textile industry is expected to propel the growth of the digital textile printing inks market going forward. The textile industry encompasses the production of fibers, yarns, fabrics, and finished textile products. It's a diverse sector that involves various processes such as spinning, weaving, knitting, dyeing, printing, and finishing. The textile industry is expanding due to economic growth, employment opportunities, supply chain development, export opportunities, and social development. Digital textile printing inks are used in the textile industry to create high-quality, customized designs on fabric using digital printing technology, which makes them capable of producing high-quality, on-demand printed fabrics for fashion, home décor, and other applications. For instance, in March 2023, according to reports published by Textile World, a US-based publication in the textile industry, US shipments of clothes, textiles, and man-made fiber were worth $65.8 billion in 2022, up from $64.04 billion in 2021. Therefore, the expanding textile industry is driving the growth of the digital textile printing ink market.
Major companies operating in the digital textile printing inks market are focusing on developing innovative digital textile printing inks, such as Artistri P1600 direct-to-film (DTF) pigment inks, to enhance their offerings and cater to the evolving needs of the industry. Artistri P1600 direct-to-film (DTF) pigment ink is a specific type used in digital textile printing ink that processes and directly transfers designs from a digital file onto a film, which is then applied to the fabric. For instance, in June 2023, DuPont de Nemours Inc., a US-based chemicals company, launched the Artistri P1600 direct-to-film (DTF) pigment inks for digital textile printing. These inks are ideal for garment printers seeking vibrant colors on various fabrics, offering reliability, productivity, and sustainability benefits. Additionally, it features vibrant colors, large gamut volume, white opacity, deep blacks, and batch-to-batch consistency, and these features collectively make the Artistri P1600 inks a reliable and efficient choice for garment printers looking to achieve vibrant and consistent results on a variety of fabrics.
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Major Key Players of the Market:
BASF SE, Ricoh Group, E.I.du pont de nemours company, Dover Corporation, Huntsman Corporation, JK Group, Brother Industries Ltd, Sun Chemical, Sensient Technologies Corporation, DyStar Group, Epson America Inc, Kornit Digital Ltd, SPGPrints B.V., Nazdar Company, INX International Ink, Durst Group, Marabu GmbH & Co KG, Sawgrass Technologies Inc, Sawgrass Technologies, J-Teck3 S.r.l., Colordyne Technologies LLC, Bordeaux Digital PrintInk Ltd, Zhengzhou Hongsam Digital Science & Technology Co Ltd, Toyo Ink SC Holdings Co, Inktec Corporation, BluePrint Digital, Sensa Inks & Coatings Pvt Ltd, InkTec Co Ltd
Digital Textile Printing Inks Market 2024 Key Insights:
• The digital textile printing inks market size is expected to see rapid growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%.
• Expanding Textile Industry Fueling Growth In Digital Textile Printing Inks Market
• DuPont's Artistri P1600 DTF Pigment Inks Revolutionize Digital Textile Printing
• Europe was the largest region in the digital textile printing inks market in 2023
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