Throughout the world, the digital textile printing market was valued at $2.2 billion in 2019 and is projected to reach $8.8 billion by 2027, growing at a CAGR (compounded annual growth rate) of 19.1%from 2020 to 2027.
The global textile printing market is expected to be worth $266.38 billion by 2027 according to Federation of European Screen Printers Associations (FESPA).
Digital printing offers high-resolution prints with unlimited color combinations and utilizes less amount of ink, electricity, and water as compared to other techniques. Also, the space required for the printing machines is comparatively less, thereby enabling high-quality printing in smaller areas. The aforementioned factors are expected to drive the demand for digitally printed textiles over the forecast period has a forecast growth rate of over 17.5 percent per annum over the next six years.
Europe accounted for the significant revenue share in 2019 in the global digital textile printing market. Italy, Germany and the UK. Asia-pacific will witness significant growth owing to the increasing number of domestic players in countries, such as China and India. Domestic players are offering high-quality digital printing services at lower prices attracting local customers.
Seemingly the upcoming twenty years will include many traditional textile printers all over the world to digital and will use this component within their already established businesses.
Moreover, the growing application of textile printing in vehicle wrapping, automotive interior decoration is anticipated to boost the segment growth in the automotive sector.
