Global Digital Printing Market - 2020-2027
Digital printing is the technique of the printing digital-based images directly onto a variety of media substrates. It enables the printing from electronic files. It involves the printing of the printing digital-based images onto the photo paper, paper, canvas, synthetics, fabric, cardstock, and other substrates. It does not require the printing plate in comparison to the offset printing. It involves the use of the metal plates to transfer an image, and print the image directly onto the media substrate. The global digital printing market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the increasing demand for the digital printing due to its advantages such as personalized, variable data printing (VDP), print-on-demand, cost-effective short runs, and fast turnarounds. It is the most preferred platform for personalization. Digital printing can easy to modify images and messages using variable data printing (VDP). There is growing adoption of the digital printing machines to print everything on the thick cardstock, heavyweight papers and folding cartons to fabric, plastics and synthetic substrates. Various digital printing inks such as cyan, magenta, yellow and black (CMYK) toner and ink, extended color gamut inks such as orange, blue and green, specialty dry inks are used for metallic, white or clear effects.
The increase in the launch of the digital printing machines. For instance, in February 2020, Konica Minolta Business Solutions U.S.A., Inc. had launched a new AccurioPress C14000 series of high-speed toner-based digital presses. The AccurioPress C14000 prints 140 A4 pages-per-minute (ppm) and the C12000 runs at 120ppm respectively. Their innovative design demonstrates Konica Minolta's mission to be a leader in the high-speed toner-based digital production print market.
In January 2020, Konica Minolta Business Solutions U.S.A., Inc. had launched the MGI JETvarnish 3D One, a digital embellishment press that provides sensory print applications for printers of every size.
In September 2014, Xerox India had launched the new Xerox Versant 2100 Press for the production printing industry. The 100 page-per-minute device is versatile for any production environment that combines speed, Ultra HD image quality and automation features to create colorful personalized communications, collateral, brochures, photo publishing and specialty print products announced the press release.
Several companies are using the digital printing for printing the digital-based images onto the different substrates. For instance, in January 2019, Tetra Pak had provided the digital printing on its carton packages, working in collaboration with Koenig & Bauer, a global leader in the field. The digital printing technology is touted as simplifying the complexity of design handling, reducing time from design to print and opening up new opportunities for flexibility in order placement and product customization. It would help the beverage brands to take advantage of added benefits like dynamic on-package printing and the ability to include a variety of designs within the same order. The digital printing enables the customer to produce customized designs in smaller batches for special campaigns around holidays or other special events.
The global digital printing market is segmented based on the ink type as aqueous, solvent, UV-curable, latex, and dye sublimation. The aqueous segment accounts for the significant market share of XX% in 2019. Aqueous ink is a water-based ink mixed with a colored powder, pigment or a dye. This ink is the non-toxic and safe for general domestic and office use. Aqueous ink is the ideal choice for Canvas and paper fine art prints. Aqueous ink is widely used for the printing the high-quality fine art and photographic printing. It has little or no odor during or after printing.
The solvent segment is expected to witness the positive market growth over the forecasted period. Solvent ink comprised of the volatile organic compound mixed with colored powder or pigment. Solvent ink is useful for plastic prints for outdoor signage and displays. Solvent ink is cheap and much more versatile as it can be easily applied to the uncoated substrates.
Further, the market is also classified based on the print head type as inkjet, and laser. The laser segment accounts for the significant market share of XX% in 2019. Laser print heads include the high-quality text and graphics. There is growing usage of the laser printers due to their advantages of providing the clean, crisp black text and color graphics. Laser printers provide the high-quality print with an infinite set of fonts. These printers comprised of the standard or super-sized cartridges with extraordinary lifespans. Laser printers have ability of providing the favorable outcomes and results even on the plain paper. Laser printers have the high output speeds in comparison to the inkjet printers. It is easy to handle the huge workloads by using the laser printers. The increasing demand for the advanced printing technologies for enhancing the productivity and efficiency or the entire workflow shall fuel the market growth.
By region, the global digital printing market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global digital printing market due to the higher adoption of the digital printing in the various industries. There is growing usage of the advanced technologies for the digital printing. The increase in providing the customization, and low per-unit costs shall stimulate the market. There is presence of the several market players providing the digital printing. Several companies are focusing on developing the advanced digital printing machineries. The presence of the favorable compliance and government regulations shall boost the demand for the digital printing over the forecasted period.
Asia Pacific is expected to grow at the highest CAGR during the forecasted period due to the rapid industrialization which have created the lucrative opportunities for digital printing. There is increased in the research and development activities for the development of the innovative digital printing machineries. The drastic market growth is expected to be observed in the developing countries such India and China as these countries are the largest suppliers of textiles. Large number of the textile printing owners and marketers are present in these developing countries. Several private and public companies are raising the investment and funding for the development of the digital printing machineries.
The global digital printing market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Hewlett-Packard Development Company, L.P., Canon, Inc., Ricoh Company, Ltd., Mimaki Engineering Co., Ltd., Xerox Corporation, Altana AG, Flint Group, and Sakata Inx Corporation are the leading market players with significant market share.
The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market. For instance, in October 2019, DuPont Advanced Printing had launched the newest ink offerings for the growing digital textile market. Its new DuPont Artistri P2700 pigment ink is designed for roll-to-roll printing. Artistri P2700 is a medium viscosity ink that delivers excellent color saturation, soft hand feel and unmatched wet and dry crock fastness. It combines DuPont proprietary dispersions, polymers and ink formulations resulting in brighter, more robust digital inks for digital printing. It provides the color consistency across production runs and over time.
In September 2019, Waldorf Technik, a subsidiary of the Hahn Group had developed an automation system that allows molders of disposable syringes to print directly on cylinders using the system's digital printing processes. The digital printing process provides the maximum flexibility because the print data is sent directly from the computer to the printer.
In March 2019, ScanTrust had launched a new authentication system using its protected digitally printed QR codes on HP Indigo digital presses in an effort to assist brands and industrial companies in tracing counterfeit products. The company would digitally print secure QR codes on HP Indigo presses, allowing customers to track and trace goods to combat counterfeiting as well as enable supply chain traceability.
In April 2018, Uteco Group and Kodak had launched a new Sapphire EVO digital printing press and aqueous inks with a view to expanding their label and flexible packaging possibilities. The Sapphire EVO digital press is equipped with Kodak's Stream Inkjet Technology and provides a printing capacity of more than 9,000 linear meters per hour. The press would allow Uteco Group and Kodak to new opportunities for brands and packaging service providers in the water-based inks market.
In July 2017, Quantum Group had expanded its print technology with the HP PageWide Web Press T240 HD. This latest technology provides a digital print engine that delivers versatility and color-consistency combined with the agility to deliver personalized communications cost-effectively. It has the ability to print 4/4 images at 500 feet per minute the production capabilities of this new printer.