According to Precision Business Insights, the Digital Textile Printing Ink Market research report provides industry size and growth.
According to Precision Business Insights (PBI), the latest report, the Digital Textile Printing Ink Market is expected to be worth USD 1.3 billion in 2022, growing at an 11.0% CAGR from 2023 to 2029. The global digital textile market is expected to grow significantly due to several factors, including increased demand for 3D printing technology and rapid advancements in printing methods. In addition, the fashion industry is experimenting with 3D-printed t-shirts, shoes, and gowns, which is driving up demand for digital textile printing inks. Consumers are looking for digital textile printers that are both prolific and efficient. This technique is gaining traction in developed countries of the world, boosting the demand for digital textile printing ink. Consumers are making more mindful purchases from socially and environmentally conscious companies, which is helping to boost sales of digital textile printing ink.
Sublimation Ink Segment to Dominate the Digital Textile Printing Ink Market
The sublimation ink segment is expected to account for a larger revenue share in the global digital textile printing ink market, with a value share worldwide. It is projected to grow at a 10.1% CAGR between 2022 and 2028. The dominance of sublimation ink in the industry is due to the rising use of polyester fabric for digital printing to fulfill the demand for rapid customization from the home and industrial sectors. The great archival print life and color stability, pigment-based inks are expected to drive the sublimation ink sales over the forecast period. The sublimation ink industry has seen considerable growth due to the growing demand for dye-sublimation printers in computer printing applications.
Europe Digital Textile Printing Ink Market
The Europe market is expected to hold a significant market share in the global digital textile printing ink market over the forecast period. It is projected to grow at a CAGR of 10% in the coming years. In Europe, digital textile printers are rapidly addressing the demand for faster turnaround times, shorter runs, and higher-quality variable data printing. According to CBI (the Netherlands Ministry of Foreign Affairs Development Cooperation Agency), Europe has a strong, constantly increasing garment sector, home to some of the world's largest and most known apparel companies. However, the EU's largest markets were Germany, France, the United Kingdom, Spain, the Netherlands, and Italy, which accounted for approximately 72 % of all EU garment imports in 2019. As a result of the rising demand for apparel in these regions, the digital textile printing inks market will expand over the forecast years.
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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global digital textile printing ink market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In 2022, Huntsman has increased its digital textile ink properties to provide extensive stability, resistance to aqueous solutions, and excellent material holding capacity. Huntsman digital textile printing inks save around 8% of the North American market.
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Key players'™ profiles in the Digital Textile Printing Ink market report are BASF SE, Dover Corporation, DyStar Group, Zhengzhou Hongsam Digital Science & Technology Co., Ltd., Huntsman Corporation, Kornit Digital Ltd., Sensient Technologies Corporation, Sawgrass Technologies, SPGPrints B.V., and Zhejiang Lanyu Digital Technology Co. Ltd
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