Digital textile printing market to be worth USD 2.31 billion by 2023

According to a new market research report on ‘digital textile printing market: global forecast to 2023’, published by MarketsandMarkets, the market is expected to be worth USD 2.31 billion by 2023 from USD 1.76 billion in 2018, at a CAGR of 5.59% between 2018 and 2023.

06 Apr 2018 | By Dibyajyoti Sarma

The major factors driving the growth of the digital textile printing industry include the growing demand for sustainable printing; increasing demand for digital textile printing in the garment and advertising industries; shortening lifespan and faster adaptability of fashion designs; development of new technologies in the textile industry; reduced per unit cost of printing with digital printers, and growth of the eCommerce industry.

According to the report, roll-to-roll printing is expected to hold the largest share of the digital textile printing market during the forecast period. Currently, the roll-to-roll printing process accounts for more than two-thirds of the digital textile printing market and is majorly used in textile and decor, soft signage, and industrial applications.

The major applications in textile and decor are home textile, upholstery, linens, drapery, scarves, ties, bags, sportswear, footwear, clothes, interior decor, etc.

Applications in the soft signage and industrial segments include carpets, posters, banners, flags, vehicle wrapping, wallpaper, building material, POS display, etc.

The direct to garment application is estimated to register the highest CAGR during the forecast period. Fast moving fashion cycles, cost advantage on short run cycles, creative designs, quick time to market for new trends, reduced wastage, and low power consumption are some of the major factors which will drive the market for direct to garment applications.

According to industry experts, the future of fashion is all about customisation. Consumers choose to wear the shape, size, prints, and colours that best suit them. The fashion industry is going through an evolution regarding how it gets products from the runway during a fashion week to stores and ultimately customers' wardrobes quicker than ever. This has led to a shift in the entire production timeline.

Europe is expected to hold the largest share of the digital textile printing market during the forecast period owing to the economic recovery and increased growth in the printing industry. Digital textile printers are increasingly being deployed in Europe to meet the need for faster turnaround times, shorter runs, and more variable data printing with high quality. The use of digital textile printers in the fashion industry is another factor driving the growth of this market in this region.