Future Perspectives: Digital Textile Printing Market Eyes 12.1% CAGR Acceleration by 2034

In 2024, the digital textile printing market is forecasted to achieve a value of US$ 2,989.6 million, with expectations of soaring to US$ 8,897.3 million by 2034. This growth trajectory implies a compound annual growth rate (CAGR) of 12.1% over the forecast period spanning from 2024 to 2034. The market's expansion is driven by factors such as increasing demand for customized textile products, technological advancements in printing techniques, and a growing preference for eco-friendly printing processes. As the industry evolves, stakeholders are presented with lucrative opportunities to capitalize on the burgeoning market and cater to shifting consumer preferences effectively.

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The rising use of dye-sublimation digital printing and integration of printing techniques to achieve high printing speeds. Advantages like low cost and durability contribute to market expansion in developing economies.

However, the high cost of digital textile printing machines remains a challenge, making them more expensive compared to traditional printing methods. The adoption of single-pass printing for higher quality adds to the cost, and skilled operators are needed to achieve desired outcomes.

Manufacturers are striving to reduce the cost of ink and pigments to alleviate this market restraint. North America accounts for 13.2% of the total market share in the digital textile printing industry, driven by the presence of digital natives and key players in the region.

Business Growth Drivers:

Customization and Personalization: Digital textile printing enables easy customization and personalization of fabrics, allowing businesses to cater to individual preferences and niche markets. This flexibility drives demand from industries such as fashion, home decor, and soft signage.
Shorter Turnaround Times: Compared to traditional printing methods, digital textile printing offers quicker turnaround times, making it ideal for on-demand production and fast fashion cycles. This agility attracts businesses seeking efficient and responsive manufacturing processes.
Reduced Waste and Environmental Impact: Digital textile printing typically generates less waste compared to conventional methods due to its on-demand nature and precise ink application. Additionally, advancements in eco-friendly inks and substrates contribute to a reduced environmental footprint, appealing to environmentally conscious consumers and businesses.
Advancements in Printing Technology: Continuous advancements in digital printing technology, including improved print quality, faster printing speeds, and expanded color gamuts, enhance the capabilities and competitiveness of digital textile printers. These innovations drive adoption across various industries seeking high-quality printed textiles.
Growing E-commerce and Online Retail: The proliferation of e-commerce and online retail platforms has boosted the demand for digitally printed textiles, as businesses leverage digital printing technology to offer a wide range of customizable products to online consumers.
Rising Demand for Sustainable Solutions: Increasing consumer awareness regarding sustainability and ethical production practices has spurred the adoption of digital textile printing, as it allows for more sustainable manufacturing processes compared to traditional methods.

Competitive Landscape

The global digital textile printing market is becoming more competitive as increased demand for printed textiles and consistent profitability attract new vendors. Because of the growing demand for environmentally friendly products, the market’s key players are focusing on new product releases and partnership formation. Kornit Digital, Seiko Epson Corporation, Mimaki Engineering, and Durst Group are some leading participants in the sector.

October 2021 – Roland DG Corporation, a leading manufacturer of wide-format inkjet printers and printers/cutters, announced the launch of D-BRIDGE. A support website that provides a variety of useful information about the benefits of digitalization and success secrets for anyone involved in creating, particularly those in printing or manufacturing.
May 2021 – Global online fashion retailer and United Kingdom supplier ASOS and Fashion-Enter Ltd. announced a collaboration with Kornit to implement Kornit Presto. A low-impact direct-to-fabric digital textile printing solution with minimal water waste and increased production speeds. Kornit Presto is among the advanced single-step direct-to-fabric printing system.

Major players are: