The global digital textile printing market’s revenue is projected to expand at a compound annual growth rate of 16.3 per cent during 2018-2027, according to a new report. Taking the lead will be the Asia Pacific region (excluding Japan), whose growth will be mainly attributed to contributions from emerging economies, such as India and China.
China is expected to be at the forefront, spearheading the growth, said the report titled ‘Digital Textile Printing Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027’ by Future Market Insights.
The China digital textile printing market has witnessed rapid growth in the past couple of decades. The APEJ region is characterized by a robust political, demographic, and economic ecosystem of the leading emerging economies; and a rapidly growing digital textile printing industry in the region will lead to optimum in growth levels in the coming decade, it said.
End user sectors of digital textile printing, such as food and beverage, personal care, pharmaceuticals and automotive, are increasingly adopting digital textile printing on their sales promotion devices.
Increasing competition in the digital textile printing market has led to growing sales of promotional activity, which increases the growth of digital textile printing market.
Revenue from digital textile printing in North America is estimated to account for over 43 per cent of the global digital textile printing market revenue in 2018, says the report.
Key players in this market include Durst Group (Durst Phototechnik AG), Seiko Epson Corporation, Electronics For Imaging Inc., Roq International, Konica Minolta Inc., Kornit Digital Ltd., Mimaki Engineering Co., Ltd., Sawgrass Technologies Inc, Spgprints B.V. and The M&R Companies.