Global Digital Printing Market Size By Type (Ink Market for Digital Printing, Print Head Market for Digital Printing), By Ink Type (Solvent Ink, UV-Cured Ink), By Print Head Type (Inkjet, Laser), By Substrate Type (Plastic Films/Foils, Paper & Paper board), By Geographic Scope And Forecast

Digital Printing Market Valuation – 2024-2030

The rise in the inclination towards customized items is creating a larger consumer base for personalized printing services, creating a huge demand for digital printing. Also, the evolving e-commerce industry is driving the trend of online shopping, creating a wide range of opportunities for skyrocketing the sales of digital printed products. Thereby, creating a resourceful environment for the market to reach a valuation of USD 51.93 Billion by 2030, surpassing a share of USD 28.68 Billion valued in 2023.

Advancements in the printing world such as the emergence of affordable, compact digital printers and 3D printing capabilities are expected to drive Digital Printing Market. Moreover, the integration of artificial intelligence (AI)-driven software and subscription models is easing accessibility to digital printing services and equipment, enabling the market to grow at a CAGR of 6.82% from 2024 to 2030.

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Digital Printing Market: Definition/ Overview

Digital printing is a modern printing technique that involves reproducing digital images directly to various materials such as paper, fabric, or plastic. This technique involves sending a digital file directly to the printer, allowing for the speedy and efficient creation of small to medium-sized print runs with minimal setup time. Unlike traditional printing technologies such as offset or flexography, digital printing does not require printing plates and enables on-demand, variable data printing.

Furthermore, the requirement of high-quality, appealing prints with fine details is majorly spurring in the packaging and textile industries, facilitating wider adoption of adaptable and affordable digital printing services. Similarly, rising demand for personalized marketing materials, business cards, labels, packaging, and signs are all offering new avenues of growth for the Digital Printing Market.

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How can Technological Advancement Favor the Growth of the Digital Printing Market?

Rising disposable income and ongoing social media trend is resulting in the demand for advancements in printheads, inks, software, and automation. As a result of this surging need for personalized and on-demand printing, the consumer base for digital printing is projected to rise over the forecast period.

With increased accessibility to the internet and the emergence of digital platforms, there is a change in consumer purchasing habits. This switch in purchase habits is increasing the demand for e-commerce and online printing, emerging as major drivers for the Digital Printing Market. The digital printing technology is anticipated to capitalize on the popularity of online purchasing and the simplicity of on-demand printing services.

Furthermore, the rising awareness about Direct-to-Garment (DTG) Printing shows is shifting preferences of both consumers and players towards more efficient and precise printing processes. The fulfilment of consumers needs such as unique, customized designs on their clothing is propelling the growth of the Digital Printing Market.

Will Limitations of Inkjet Technology Restrain Growth of Digital Printing Market?

The rapid advancements in digital printing technology produce a constant demand for upgrades, thereby increasing the development as well as the maintenance cost of digital printing technology. Also, the complexity of the technology and the need for specialized inks are limiting its utilization. Beyond these, the goal of obtaining the same color brightness and detail just like traditional offset printing is difficult with certain inks, posing a barrier to the acceptance of inkjet technology.

Rising environmental concerns regarding the disposal of inks, energy consumption, and the choices of printing substrates are challenging the acceptance of digital printing compared to traditional methods.

Furthermore, the constant requirement of technical changes is bolstering the demand for initiating training programs for technicians or highly skilled laborers to operate and maintain the complex digital printing technology. All these challenges are slowly restraining the expansion of digital printing on a global platform.

Category-Wise Acumens

How is the Demand for Solvent Inks Revolutionizing the Digital Printing Market?

According to VMR analysis, the solvent ink segment is estimated to hold the largest market share in the ink type segment during the forecast period. The durability, versatility and vibrant colors are factors attributing to the dominance of the solvent ink segment in the Digital Printing Market.

Also, the printing time and drying up process by the solvent inks is faster compared to the conventionally used inks, thereby positively influencing the growth of the market. This primary factor surges the demand for solvent ink in the Digital Printing Market.

Furthermore, advancements in solvent ink technology to meet the rising consumer demand such as minimal release of volatile organic compounds (VOC), high printing quality, and greater efficiency during large-scale projects that make the market forward.

How can Inkjet Shape the Future of the Digital Printing Market?

The inkjet segment is estimated to grow at the highest CAGR in the Digital Printing Market during the forecast period. The pocket-friendly and versatility are two factors that contributing to the dominance of the inkjet segment in the Digital Printing Market. This versatility allows inkjet technology to be used for a wide range of applications, including picture printing, packaging, and textile printing, giving users a wide range of options.

Furthermore, continuous technological advancements in compliance with stringent environmental regulations contribute toward enhancing printing quality and productivity. This growing alignment with sustainability is influencing the choices of environmentally conscious consumers and businesses. Therefore, this segment serves as an environmentally-friendly solution in the Digital Printing Market.

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Country/Region-wise Acumens

How is the Adoption of Digital Printing Technology Transforming the Market in North American?

According to VMR analyst, North America is anticipated to grow at the highest CAGR after the Asia Pacific region the Digital Printing Market during the forecast period. Growing presence of prominent players and emerging players is bringing about advancements in the infrastructures as well as technologies. The emergence of new applications and niche markets with the increased focus on automation and efficiency is bolstering the growth of the digital printing landscape in the region.

Furthermore, the rapid growth in online shopping is fueling the demand for high-quality packaging and printed labels to the fulfil the customer’s demand for personalization. With the increase in partnerships between e-commerce companies and digital printing providers, there is a rise in application of digital technology for labels, packaging, and functional product components in e-commerce sector of North America.

What Factors are Driving the Growth of the Digital Printing Market in the Asia Pacific?

Asia Pacific region is estimated to dominate the Digital Printing Market during the forecast period. Rapid industrialization has increased employment following which there is a rise in disposable incomes. This is likely to contribute to the booming e-commerce industry in countries like China, Japan, and India by encouraging online shopping, and creating higher demand for digital printing.

Also, the diversity in the attires in countries like India is driving the textile industry in the region. This is rising demand for costumes is enabling the expansion of Digital Printing Market. Thus, the growing requirement of unique printing solutions ranging from personalized stationery to distinctive packaging and promotional materials is likely to fuel the adoption of this technology in Asia Pacific.

Furthermore, major textile centers, where digital printing has sparked a revolution in the fashion and home décor sectors, are located in the region, which has also seen a rapid expansion of online shopping platforms, driving a significant need for packaging and label printing.

Digital Printing Market: Segmentation Analysis

The Global Digital Printing Market is segmented on the basis of Type, Ink Type, Print Head Type, Substrate Type, and Geography.

Digital Printing Market, By Type

• Ink Market for Digital Printing
• Print Head Market for Digital Printing

Based on Type, the market is bifurcated into Ink Market for Digital Printing and Print Head Market for Digital Printing. The Ink Market for the Digital Printing segment is accounted for the largest market share in 2021 and is projected to grow at a CAGR of 5.66% during the forecast period. When it comes to ink, several different types are used in digital printing, each of them having various characteristics. The differences in the digital printer inks can make a huge difference in the cost and the quality of the end product. The core of a digital printing system is the ink, which is essentially pigment that is suspended in a carrier liquid. With the developments made in the Digital Printing Market come the various inks that emerge as a result of it. As of now, several types of inks are used in the Digital Printing Market such as solvent inks, UV-curable inks, and hybrid inks.

Solvent inks serve a dual purpose in that it’s both a carrier to deliver the colored pigment to the media, as well as it helps to melt the surface of the media. UV-curable inks have many advantages such as the ability to dry instantly therefore allowing the end product to be used instantly as well as their ability to be highly resistant to the effects of scratching and weathering. Hybrid ink attempts to combine the best features of different inks, for example, the Solvent UV which combines mild solvent with UV-curable ink.

Digital Printing Market, By Print Head Type

• Inkjet
• Laser

Based on Print Head Type, the market is bifurcated into Inkjet and Laser. The Inkjet segment accounts for the largest market share and is projected to grow at the highest CAGR of 5.49% during the forecast period. Thermal inkjet-based print heads involve the usage of heat to carry out the printing process. The heat is used as opposed to electricity to force ink from the print head to the substrate. Similar to the concept of water boiling, the thermal inkjet technology works by electrifying microscopic resistors behind the print nozzle. This creates an intense heat that vaporizes the ink to create a bubble which then expands rapidly and allows for the ink to explode onto the paper. Once the ink is ejected, the chamber then cools quickly to allow more ink to refill the chamber, and the process is repeated.

The thermal inkjet printer tends to be more affordable than most commercial inkjet printers and is highly considered in applications in which high-quality print is essential and ease of use is a primary consideration. New advancements in the design and manufacturing process of industrial inkjet heads for micro-printing is significantly changing the application area of the inkjet printing technology. Electrostatic inkjet-based print heads have a greater advantage than piezoelectric based inkjet print heads as well as thermal-based inkjet print heads. This is because electrostatic inkjet-based print heads have a greater ability to eject fine droplets as well as superior in their simplicity of structure. It can therefore be said that electrostatic inkjet-based print heads are capable of overcoming the limitations of piezoelectric and thermal bubble print heads.

Digital Printing Market, By Ink Type

• Solvent Ink
• UV-Cured Ink
• Aqueous Ink
• Others

Based on Ink Type, the Global Digital Printing Market has been segmented into Solvent Ink, UV-Cured Ink, Aqueous Ink, and Others. The Solvent Ink segment accounts for the largest market share and is projected to grow at the highest CAGR of 5.29% during the forecast period. Solvent ink is a relatively inexpensive type of ink that works with digital printers. Unlike Aqueous inks, these inks are not made with a water base. One of the largest applications of solvent inks lies in the printing of products that are to be used outdoors. This is due to the fact that solvent inks can adhere to non-absorbent materials. Solvent ink also has advantages such as being fade-proof, waterproof, and scratch-resistant. These qualities enhance its usefulness in outdoor printing.

Digital Printing Market, By Substrate Type

• Plastic Films/Foils
• Paper & Paper board
• Textile
• Glass
• Others

Based on Substrate Type, the Global Digital Printing Market has been segmented into Plastic Films/Foils, Paper & Paper board, Textile, Glass, and Others. The Plastic Films/Foils is account for the largest market share and is projected to grow at the highest CAGR of 5.60% during the forecast period. Digital printing using plastic films/foils are one of the most widely used applications for the market. Plastic films and foils include blister packs, plastic pouches, plastic bags, and shrink wrap. The ability to customize these kinds of plastic is extremely viable as its use is widely known due to its water resistance, sustainability, functionality, and attractiveness. A big driving factor for plastic films/foils is the ability to be able to hold the contents securely to prevent breakage and leakage. Due to these factors, the popularity of plastic films/foils is large. These features along with plastic film/foil’s capacity to be personalized or customized allow this kind of packing to be extremely attractive. Attractive packaging is one of the biggest factors in the advertising market. Due to the ability to use plastic as a substrate for digital printing, plastic packaging has become an ingrained part of our society and one that holds a lot of promise for the Digital Printing Market.

Digital Printing Market, By Geography

• North America
• Europe
• Asia Pacific
• RoW

Based on Regional Analysis, Global Digital Printing is classified into North America, Europe, Asia Pacific, and RoW. North America Segment accounted for the largest market share and is projected to grow at a CAGR of 5.60 % during the forecast period. North America is the most developed region in the world in almost all industries including automobile, construction, infrastructure, manufacturing, and technology, amongst others. The prosperity of this region is an outcome of its tightly integrated markets. The market shows sturdy growth in terms of its revenue. Due to its highly diversified industrial market, countries such as the United States and Canada. are dominating the North American region’s economy. Industries in this region have a greater degree of flexibility in terms of expansion and innovation in comparison to other regions. However, some of North America’s industries have reached a saturation point, leading to a requirement for acquiring new strategies to overcome the shortcomings in the market.

Key Players

The major players in the market are 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., Konica Minolta, Inc., Brother Industries, Ltd., Oki Electric Industry Co., Ltd., EFI, Inc, Domino Printing Sciences plc, Heidelberg Druckmaschinen AG, FUJIFILM Graphic Systems, Inc., Xeikon NV.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In December 2023, HP announced a strategic partnership with Microsoft to integrate its digital printing solutions with the Microsoft Azure cloud platform. This will enable organizations to streamline their printing procedures, save money, and acquire important insights from their printing data. The integration will include HP PageWide industrial presses, Indigo digital presses, and DesignJet wide-format printers.
• In November 2023, Canon announced its new image PROGRAF GP-520 printer, which is specifically geared for the expanding photo printing market. This high-speed printer has better image quality and higher printing speeds than its predecessors. It also has a revolutionary ink technology that provides vibrant colors and rich blacks. The GP-520 is best suited for professional photographers, photo studios, and retail print shops.
• In October 2023, Epson launched its new SurePress L-4050G label printer for industrial applications. This high-performance printer can print labels at up to 50 meters per minute and has advanced finishing options such as die-cutting and hot foiling. The L-4050G is suitable for manufacturers, logistics organizations, and other enterprises that need high-quality labels in big quantities.
• In September 2023, Mimaki announced that it would enter the textile printing market with its new Tiger-18S Pro M printer. This flexible printer can print on a variety of materials, including sportswear, home decor fabrics, and soft signs. The Tiger-18S Pro M boasts high-resolution printing, fast print speeds, and dependable ink technology.

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