According to a new market research the digital printer market will be worth $28.8bn by 2023, up from $22.2bn, growing at a CAGR of 4.5 per cent.
The report says, ‘the growing demand for sustainable printing, development of packaging and textile industries worldwide, and reduction in per unit cost of printing with digital printers, are expected to drive the growth of the digital printing market worldwide.’
According to the report, North America has held the largest share of the digital printer market in 2016, as the market has a number of start-ups and favourable compliance and government regulations.
[Related: Region to lead flexible packaging market]
The report says UV-cured ink is expected the hold the largest share between now and 2023. It is the fastest-growing segment, offering quick drying, environmentally friendly, low price and UV-resistant. Despite being more expensive than solvent, it is becoming more popular.
The report also states inkjet print head held the largest share of the print head market for digital printing in 2016. Along with the growing technology, manufacturers of inkjet print heads have been providing inkjet print heads with reduced running cost and faster printing speed for digital printing.
The overall digital printing market includes digital printer market, ink market for digital printing, and print head market. Ink market for digital printing has the largest share of the overall market owing to its extensive benefits in digital printing such as they are waterproof and UV-resistant, and do not have any significant environmental impact.
The market report is from Digital Printing Market for Printers, Inks, and Print Heads by Ink Type (Aqueous, Solvent, UV-Curable, Latex, and Dye Sublimation), Print Head Type (Inkjet and Laser), Substrate Type (Glass, Textile, Paper), and Geography – Global Forecast to 2023, published by MarketsandMarkets.
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