Surge in demand for 3D printing technologies, and rapid development of printing methods fuel the growth of the global digital ink market
PORTLAND, Oregon, Feb. 17, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Digital Ink Market by Type (Digital Textile Ink, UV Ink, Solvent Ink, Water-Based Ink, Packaging Ink, and Others), Technology Type (Electrography and Ink-Jet), Substrate (Textiles, Plastics, Ceramic & Glass, and Others), and Application (Commercial Printing, Office Printing, Packaging, Industrial Printing, Publication, Textiles, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global digital ink industry was estimated at $2.6 billion in 2018 and is expected to hit $4.3 billion by 2026, growing at a CAGR of 6.1% from 2019 to 2026.
Drivers, restraints, and opportunities-
Rise in demand for 3D printing technologies, and rapid development of printing methods drive the growth of the global digital ink market. On the other hand, high initial cost impedes the growth to some extent. However, advancement in technology is expected to create a number of opportunities for the frontrunners in the industry.
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The digital textile ink segment to dominate by 2026-
Based on type, the digital textile ink segment contributed to nearly one-fourth of the global digital ink market share in 2018, and is projected to retain its dominance by the end of 2026. The same segment would also cite the fastest CAGR of 9.0% during 2019–2026. Increase in demand for advertisements and corporate brandings such as flags, retail graphics, and banners has driven the growth of the segment.
The ink-jet segment to lead the trail throughout the forecast period-
Based on technology type, the ink-jet segment accounted for nearly three-fifths of the global digital ink market revenue in 2018, and is expected to maintain its top status throughout the forecast period. Its ability to revolutionize the printing sector propels the segment growth. The electrography segment, on the other hand, would showcase the fastest CAGR of 6.4% during the estimated period. This technology is one of the key trends, which is dominantly used for printing labels. And, this factor has boosted the growth of the segment.
Europe, followed by Asia and North America, to rule the roost in terms of revenue-
Based on geography, Europe held the highest share in 2018, generating half of the global digital ink market. This is attributed to the large consumer base and the presence of key players in this province. At the same time, the region across Asia-Pacific would grow at the fastest CAGR of 6.6% till 2026. The presence of developing countries such as China and India has propelled the growth.
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Leading players in the industry-
- Dover Corporation
- Zhuhai Print-Rite New Materials Corporation Limited (PMZ)
- DIC Corporation
- Du Pont
- Flint Group
- Marabu GmbH & Co. KG
- Nazdar Ink Technologies
- Toyo Inc.
- Sc Holdings Co. Ltd.
- Wikoff Color Corporation
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