Between 2020 and 2025, the digital textile printing market share is expected to increase by USD 1.52 billion, and the market's growth momentum is expected to accelerate by 11%.
The post COVID-19 market research report provides valuable insights into the market that will help companies evaluate their business strategies. Additionally, this report describes the digital textile printing market segmentation by type (disperse and sublimation inks, reactive inks, acid inks, and pigment inks), application (clothing, soft signage, home textiles, textiles, and others), and geography (Europe, APAC, North America, MEA, and South America). The digital textile printing market report also offers information on several market vendors. Digital Textile Printing Market: Key Drivers, Trends, and Challenges In our research, we found that COVID-19 had a negative impact on market growth during and after the era. Growth in the digital textile printing market is largely attributed to trade show exhibits, although factors such as a shift from print media to digital media could impede it. Based on historical data, our analysts have analyzed the key market drivers and the impact of COVID-19 on digital textile printing. To gain a competitive edge, an analysis of the drivers holistically helps to determine end goals and refine marketing strategies.
Key Digital Textile Printing Market Driver The increasing number of trade show exhibits is a key factor driving growth in the digital textile printing market. As a result of its pleasing appearance and ease of installation, soft signage is often used at trade shows. A growing number of trade exhibitions are being held annually as face to-face marketing, establishing relationships with prospective clients, and making an impact on prospects is becoming increasingly important. The most common trade show locations are keynotes, luncheons, registration, outdoor convention center displays, hall entry, conference rooms, and show directories. A faster production rate is driving the global demand for digital signages since soft signages can be printed with various designs and are inexpensive compared with hard signages. Global tradeshows are expected to increase rapidly in the next few years, boosting demand for digital textile printing.
Key Digital Textile Printing Market Trend A growing importance of UV-cured inks also contributes to the growth of the digital textile printing market share. As a result of the shorter drying time and lower volatile organic compounds (VOC)} content of ultraviolet (UV)-cured inks, the demand for UV-cured ink is increasing immensely. As a result, UV-cured ink can be used to print on glass, vinyl, metals, and wood. UV-cured ink contains a variety of properties, such as scratch and abrasion resistance, enhanced chemical and solvent resistance, no emission, superior bonding, superior outdoor durability, and enhanced gloss. The advantages of UV-cured inks have led to an increase in their application areas. UV-cured inks are being adopted by furniture makers to reduce production time and increase production. In addition, UV-cured inks have a higher density, which results in better physical properties. The market for digital textile printing is likely to grow during the forecast period due to the move toward UVcured inks.
Key Digital Textile Printing Market Challenge Digital textile printing market will face major challenges during the forecast period as print media shifts to digital media. Print media is currently under threat from internet and television advertising. A change in marketing and brand promotion from print to digital media has resulted from the increased use of smartphones and the Internet of Things (IoT). Mobile telephony, the growing number of connected customers, and the rapid adoption of mobile broadband are driving this rapid digital change. Social media marketing and online marketing have grown in popularity, while marketing through publications and magazines has declined. This shift to digital media will result in a decline in soft signage usage in advertisements, adversely affecting the digital textile printing industry worldwide. The report also discusses upcoming trends and challenges that have a significant impact on market growth for digital textile printing. With the actionable insights on trends and challenges, companies will be able to evaluate and develop growth strategies for 2021-2025.
Digital Textile Printing Market Value Chain Analysis Our report provides extensive information on the value chain analysis for the digital textile printing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of textiles market includes the following core components:
- Inbound logistics
- Outbound logistics
- End market
- Marketing and sales
During the forecast period, Europe will account for 39% of market growth. In Europe, Italy is the key market for digital textile printing. In this region, the market will grow faster than in North America, MEA, and South America. Digital textile printing market growth in Europe will be driven by the increasing use of soft signages for advertisement purposes. Detailed information is contained in this market research report concerning competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in developing effective business strategies.
COVID Impact and Recovery Analysis Digital textile printing in Europe was negatively impacted by the COVID-19 pandemic in 2020. The number of deaths associated with COVID-19 in European countries increased significantly in the first half of 2020. In order to curb the rise in fatalities, some European countries have introduced nationwide lockdowns, which halted a range of activities, including industrial manufacturing, transportation, and retailing. In Europe, textile} manufacturing also declined as a result of these halts. The demand for textiles from various application segments such as soft signage, home textile, and clothing has decreased significantly. Therefore, the digital textile printing market in Europe witnessed a slump in 2020. However, the textile industry in Europe is expected to witness significant growth owing to the presence of large fashion brands, and consequently, the digital textile printing market will witness growth during the forecast period.