Worldwide digital textile printing market to experience growth of 34% CAGR (Compound Annual Growth Rate) to 2019
The US based research group InfoTrends has announced its 2014-2019 Digital Textile Forecast. This forecast maps the worldwide growth of digital textile printing in garment, décor and industrial applications across technology segments ink usage, and region.
Drivers for this growth, trends and key takeaways are supported by industry interviews with machine vendors, ink suppliers and fabric manufacturers across the globe.
Valued at approximately $7.5bn globally the worldwide digital textile printing market for garment, home décor and industrial applications is experiencing strong growth of around 34% CAGR to 2019. Europe continues as the biggest market for digital textile printing due to strong regional manufacturing industries while Asia Pacific is gaining momentum as it embraces digital printing technologies as a mainstream solution.
The shift away from mass production to more customized, colorways, and complex print designs is driven by importers, brand owners and consumers who are looking for differentiated quality products. These along with distinct operational benefits such as reduced inventory, and just in time manufacturing are the driving force that is fueling the growth in digital textile production.
InfoTrends has also found that requirements for a more sustainable and environmentally friendly production are a key driver in this market. As owners and retailers become more sensitive to their product impact on the environment, as well as address consumer needs for creativity and customization, they are increasingly looking to digital producers as thought leaders that are fundamentally changing the supply chain and helping them become sustainable and profitable.