Digital Printing Market size was over USD 38.56 billion in 2023 and is poised to cross USD 162.49 billion by 2036, growing at more than 11.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital printing is evaluated at USD 42.17 billion. The growth of the market can be attributed to the increasing demand for sustainable printing, and developments in textile and packaging industries. In 2019, textiles were the world’s 7th most traded product, with a total worldwide trade amounting for more than USD 800 billion. Textile trade represents about 4 percent of the total world trade. Along with these, the rise in adoption of laser and inkjet printing solutions, and upsurge in adoption of IoT and artificial intelligence technologies around the world are also expected to drive market growth in the forthcoming years. Furthermore, innovation in printing technologies for small and medium sized organizations, and escalating emphasis on green printing are projected to offer ample growth opportunities to the digital printing market in the near future.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.7% |
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Base Year Market Size (2023) |
USD 38.56 billion |
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Forecast Year Market Size (2036) |
USD 162.49 billion |
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Regional Scope |
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The market is segmented by ink type into UV-cured, aqueous, solvent, latex, and dye sublimation, out of which, the UV-cured segment is anticipated to observe robust growth rate in the global digital printing market. This can be accounted to the lesser time taken by this ink to get set and dry, and its high durability and suitability for printing on a variety of materials. In addition, UV-cured ink is also considered to be more environment-friendly as it allows printers to use ink without toxins. This is also a significant factor assessed to boost the growth of this market segment in the future. Moreover, on the basis of printing process, the inkjet segment is predicted to occupy the largest share over the forecast period as this printing process is the most widely used technique owing to its low cost and high quality of output.
Our in-depth analysis of the global market includes the following segments:
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By Printing Process |
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By Ink Type |
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By Packaging |
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On the basis of geographical analysis, the global digital printing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is anticipated to dominate majority revenue share by 2036, ascribed to increasing penetration of digital platforms solutions and end-to-end digitized value creation chains, and growing adoption of e-commerce in the region. According to the Indian Brand Equity Foundation, Indian e-commerce sector is projected to grow from 4% of the total food and grocery, apparel and consumer electronics retail trade in 2020 to 8% by the end of 2025.
Apart from these, rising advancements associated with digital printing technologies is also projected to accelerate the market growth in the region in the coming years. Additionally, the digital printing market in North America is evaluated to gather the largest share during the forecast period ascribing to the rapid growth of textile and packaging industries, and surging demand for packaged goods in the region.
July 2020- Canon India announced new campaign “India Ka Printer” for promoting its multifunction PIXMA G series inkjet printers, which are suitable for use at both homes and offices.
May 2019- Westrock Company acquired USB Printing Group to expand the company’s capabilities to expand its packaging business into the personal and beauty care and nutraceutical industries.
Author Credits: Rajrani Baghel
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