As per the report published by allied market research, the global digital textile printing inks market accounted for $1.11 billion in 2019, and is projected to reach $2.66 billion by 2027, growing at a CAGR of 11.6% from 2020 to 2027. The report offers a detailed analysis of value chain, market dynamics, top winning strategies, key segments, business performance, and competitive landscape.
Rise in demand for 3D printing technologies and rapid development of printing methods have boosted the growth of the global digital textile printing inks market. However, high initial cost hampers the market growth. On the contrary, rapid technological advancements are expected to open new opportunities for the market players in the coming years.
The global digital textile printing inks market is segmented on the basis of ink type, application, and geography. Based on ink type, the market is divided into reactive, acid, direct disperse, sublimation, and pigment.
The sublimation segment held the largest share in 2019, accounting for nearly half of the market. However, the pigment segment is projected to manifest the highest 14.7% during the forecast period.
On the basis of application, the market is divided into clothing/garments, household, technical textiles, and display & others. The display & others segment dominated the market in 2019, contributing to around half of the market. However, the household segment is anticipated to portray the highest CAGR of 12.9% during the forecast period.
The global digital textile printing inks market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across North America is expected to register the highest CAGR of 11.9% during the forecast period. However, the market across Europe held the largest share in 2019, accounting for nearly half of the market.
The global digital textile printing inks market report includes an in-depth analysis of the major market players such as Dover Corporation, BASF SE, Zhengzhou Hongsam Digital Science & Technology Co., Ltd., The DyStar Group, Kornit Digital Limited (Kornit), Huntsman Corporation, Sawgrass Technologies, Sensient Technologies Corporation, Zhejiang Lanyu Digital Technology Co. Ltd. (Lanyu Digital), and SPGPrints B.V.
These companies have adopted several strategies such as partnerships, collaborations, mergers & acquisitions, and new product launch to maintain the foothold in the market.