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The market conditions of the digital printing industry have gone through extensive ameliorations, fueled by the aid of technological advancements and evolving consumer possibilities. In recent years, the digital printing market has experienced sturdy development, pushed by means of its potential to offer price-effective, custom-designed, and on-demand printing solutions.
Moreover, the digital printing market has witnessed a surge in demand for quick-run and prototype printing, especially in the packaging industry. Brand proprietors and manufacturers are leveraging digital printing to create visually appealing and precise packaging designs that stand out on crowded cabinets. The potential to print small portions without incurring excessive fees has become a good-sized advantage, enabling corporations to test marketplace reactions and reply rapidly to converting patron possibilities.
Another riding pressure behind the marketplace situation of digital printing is the continuous improvement of superior printing technologies. Innovations in inkjet and electrophotography technology are more suitable for the excellent print, color accuracy, and substrate compatibility of digital printing systems. Furthermore, the growing consciousness of environmental sustainability has precipitated the adoption of eco-friendly printing practices. As a result, many organizations are transitioning to digital printing to minimize their environmental footprint and meet the growing demand for eco-aware products.
However, the digital printing market isn't without its demanding situations. One excellent issue is the preliminary capital funding required for superb digital printing gadgets. While the lengthy-time period benefits regularly outweigh the premature fees, smaller companies may also find it hard to make the preliminary monetary dedication. Additionally, the competition among digital printing technology vendors is intensifying, leading to a non-stop race for innovation and fee effectiveness.
In the end, the marketplace conditions of the digital printing enterprise are diagnosed by using a confluence of components riding its improvement and evolution. As businesses across numerous sectors continue to embody digital printing for its flexibility, performance, and environmental advantages, the market is anticipated to witness further enlargement and diversification within the coming years.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Ink Type, Application, and Region |
Digital Printing Market Highlights:
Global Digital Printing Market Overview:
Digital Printing Market Size was valued at USD 29.25 Billion in 2023. The Digital Printing industry is projected to grow from USD 31.3 Billion in 2024 to USD 52.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2024 - 2032). Developments in packaging and textile industries and reduction in per unit cost of printing with digital printers results in driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital Printing Market Trends
- Surge in demand for sustainable printing
The widespread adoption of digital printing has transformed the way businesses and commercial organizations build assets. With the advent of digital printing, designers now have nearly limitless design options. Organizations have been able to use their creativity to create truly original and useful products by eschewing the typical designs constrained by conventional printing plates. As people and companies try to minimize their environmental impact, sustainable printing techniques are growing in popularity. Due to technological advancements, print vendors may now produce quality-unaffected, sustainably printed materials.
Additionally, digital printing can be done without using a printing plate. Compared to more traditional techniques that require a plate, this procedure generates a lot less waste because the ink lies on the top layer of the substrate. For shorter print runs, digital printing is fantastic. The ability to print digitally more quickly than with other technologies thanks to the absence of a plate is another advantage. A machine may print up to 4,800 sheets per hour once printing has started. Digital printing is a very economical technique to utilize if businesses only need a modest quantity of prints.
Digital Printing Market Covid Impact
The COVID-19 pandemic has had a substantial negative influence on the expansion of the worldwide digital printing market. The dynamics of the digital printing industry were changed by the outbreak. Due to sudden shutdown restrictions everywhere in the world, the digital printing sector was forced to shift its attention to online transactions and techniques. This caused an initial fall in the sector, which is anticipated to level off as e-commerce gains more and more popularity.
Digital Printing Market Russia-Ukraine War Impact
Russia's invasion of Ukraine and the ongoing effects of the pandemic had a negative and unclear impact on the world economy. Many of the downside risks mentioned in April World Economic Outlook have started to manifest. The world's financial conditions have become more rigid due to higher-than-expected inflation, particularly in the United States and major European nations. With COVID-19 outbreaks and lockdowns, China's recession has been greater than expected, and the conflict in Ukraine has had further detrimental effects.
Digital Printing Segment Insights:
Digital Printing Type Insights
The Digital Printing segmentation, based on type, includes inkjet and laser. In terms of Digital Printing model revenue, the inkjet segment held the largest market share in 2022, owing to its greater tonal variation and superior color blending capacity. The dominance of inkjet print heads is explained by the fact that inkjet printers only make up 5% of the market for computer peripherals.
April 2022 Canon Production Printing and Canon Inc. announce the acquisition of Edale, a UK-based packaging converting equipment manufacturer, with the goal of strengthening Canon's label and package business and nurturing future growth opportunities. Canon is advancing its long-term strategy to provide completely integrated solutions for the label and packaging industries by making this acquisition.
Digital Printing Ink Type Insights
The digital printing segmentation, based on ink type, includes aqueous, solvent, UV-curable, dye sublimation, latex, and others. The UV-cured ink segment is expected to provide the most revenue in 2021. An ink that cures when exposed to UV light is known as UV ink. The majority of the vehicles in these inks consists of monomers and initiators. The ink is applied to a surface and then exposed to UV light, which causes the release of highly reactive atoms from the initiators, causing the monomers to swiftly polymerize and the ink to solidify into a film. Nearly all of the ink is usable to create the film because UV curing does not require sections of the ink to evaporate or be removed. The total amount of ink used has decreased, lowering the cost of printing as a whole. Environmental friendliness is also another benefit of UV inks.
May 2022, Hewlett-Packard announced the launch of two new digital press platforms, HP Indigo 100K Digital Press and HP Indigo 15K Digital Press, at Print Pack India 2022. The HP Indigo 100K Digital Press shortens turnaround times, boosts automation in printing, and lowers plate, labour, and handling costs for printers who produce a medium to high volume of short runs. With extra possibilities up to 600 microns, FM screens, and a greater variety of substrates, the HP Indigo 15K Digital Press is outfitted (24 pt.).
Digital Printing Application Insights
The Digital Printing segmentation, based on application, has been bifurcated into the categories of texting, commercial printing, packaging, paper/books and others. In 2021, the packaging segment accounted for the most market revenue. In order to save time and money, digital printing is frequently used in packaging. Digital printers are perfect for smaller order quantities because they need very little work and have a far lower setup cost. Furthermore, digital printing is perfect for minimalist packaging designs because it gives a high-quality result for simpler artwork.
September 2022 - Westrock Company purchased the HP PageWide T1190 inkjet digital press. The company's current offset litho, flexo preprint, flexo direct print, and sheet-fed digital printing activities will be complemented by the digital press across its corrugated box plants and specialty facilities.
Digital Printing Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific Middle East & Africa, and South America. During the projected period, The Asia Pacific market is predicted to develop at the fastest CAGR due to increased demand for digital printing across numerous business verticals. The Chinese printing sector is paying attention to new data-driven business models, digital platform solutions, and end-to-end digitized value creation chains. Local designers now have access to more than 12,000 carton folding patterns online because of the increased adoption of digital printing. Businesses are purchasing digital presses because there are fewer steps in the printing process.
As a result, the companies will be able to increase their manufacturing capacity by providing finished goods more quickly. On October 15, 2021, Tomato Cloud Technology Co., Ltd., a Chinese printing business, placed an order for 10 new Fujifilm Jet Press 750S digital inkjet printers. By the end of 2022, the company will be one of Jet Press' key clients thanks to the addition of 10 additional Jet Press 750S presses that will be delivered to its location by that time.
July 2020: Canon India has started a new campaign named "India Ka Printer" to market its multifunction PIXMA G series inkjet printers, which can be used in both homes and businesses.
The countries considered in the scope of Digital Printing market are US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Digital Printing Key Market Players & Competitive Insights
The digital printing market is fairly consolidated with a few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective strategies in the market.
The companies are primarily focusing on partnership, acquisition, and product launch. Various key players in the market, such as HP Inc., Canon Inc., Seiko Epson Corporation, Ricoh Company, Ltd., MIMAKI Engineering Co., Ltd., Roland DG Corporation, Xerox Corporation, DIC Corporation, Toyo Ink SC Holdings Co., Ltd, Sakata INX Corporation, T&K TOKA Co., Ltd., Flint Group, and Siegwerk Druckfarben AG & Co. KGaA and others, are focusing on acquisitions and partnerships to strengthen their product portfolios and increase their presence in untapped markets.
Key Companies in the Digital Printing includes:
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HP Inc.
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Canon Inc.
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Seiko Epson Corporation
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MIMAKI Engineering Co., Ltd.
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Roland DG Corporation
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Xerox Corporation
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DIC Corporation
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Toyo Ink SC Holdings Co., Ltd
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Sakata INX Corporation
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Westrock Company
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Amcor PLC
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Avery Dennsion Corporation among others
Digital Printing Industry Developments
September 2022 - Westrock Company purchased the HP PageWide T1190 inkjet digital press. The company's current offset litho, flexo preprint, flexo direct print, and sheet-fed digital printing activities will be complemented by the digital press across its corrugated box plants and specialty facilities.
July 2020: Canon India has started a new campaign named "India Ka Printer" to market its multifunction PIXMA G series inkjet printers, which can be used in both homes and businesses.
February 2021, In conjunction with the launch of the new EFICretaprint ceramic printer, EFI launched a new reforestation program. According to 2019 greenhouse gas reporting, this new programme will see EFI plant 17 trees, a symbolic number that is equivalent to about three metric tonnes of CO2 emissions, for each new Cretaprint printer sold.
January 2021, the new VersaUV LEC2-640/330 64" and 30" wide-format UV printers and cutters were introduced by Roland DG Corporation.
December 2020, Ricoh revealed the RICOH Pro Z75, their much-anticipated B2 sheet-fed inkjet machine.
Digital Printing Type Segmentation:
Digital Printing Type Outlook
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Inkjet
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Laser
Digital Printing Ink Type Outlook
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Aqueous
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Solvent
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UV-curable
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Dye Sublimation
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Latex and
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Others
Digital Printing Application Outlook
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Texting
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Commercial Printing
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Packaging
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Labels
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Metal Packaging
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Flexible Packaging
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Cartons
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Corrugated Packaging
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Paper/Books
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Others
Digital Printing Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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