(MENAFN- GlobeNewsWire - Nasdaq) An increase in investments in R&D activities to develop novel methods of digital textile printing coupled with a rise in per capita disposable incomes, especially in developing economies such as India, China, Indonesia, Russia, and Poland, accelerate the demand for digital textile printing inks, thereby contributing toward the growth of the global market.
New York, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Ink designed for apparel, garment, textile, household, and display applications is digital textile printing ink. Durability, excellent color saturation, and superior picture quality are attributes of digitally printed clothes. Moreover, digitally printed garments are gaining popularity in India due to a growth in the advertising of personalized garments, such as T-shirts, on social media platforms, driving the adoption of digital textile inks for garment applications. The demand for luxurious home textile items is rising in Asia-emerging Pacific nations, which is expected to increase the market for digital textile inks.
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Increase in Demand for 3D Printing Technology to Drive the Global Digital Textile Printing Inks Market
According to Straits Research,“The global digital textile printing inks market size was valued at USD 1390 million in 2021 and is estimated to reach an expected value of USD 3793 million by 2030, growing at a CAGR of 11.8% during the forecast period (2022 – 2030).” The widespread adoption of 3D printing in the manufacturing, medical, industrial, and sociocultural sectors has made it a successful commercial technology. Fashion designers are experimenting with T-shirts, shoes, and skirts that are 3D-printed. Additionally, several businesses are printing consumer-grade, custom-fit eyewear. Thus, developments in 3D printing technology and an increase in the use of digital textile inks in 3D printing are expected to drive the growth of the global market in the near future.
Technology Advancements to Provide Opportunities for the Global Digital Textile Printing Inks Market
In the coming years, manufacturers will focus on reducing the price of UV-curable inks. Manufacturers are adopting cutting-edge technologies like H-UV, LE-UV, and LED-UV, which are anticipated to fuel the UV LED inks market expansion. However, these methods have a high starting cost due to the difficulties of identifying new formulation raw ingredients. In contrast, the UV curable inks segment is predicted to increase significantly due to technological advancements and numerous advantages over conventional printing processes. Such research and development provide lucrative opportunities for market growth.
Depending on the type, the global digital textile printing inks market is classified into reactive, acid, direct disperse, sublimation, and pigment. The sublimation segment accounted for the largest market share and is estimated to grow at a CAGR of 11.4% during the forecast period. By application, the global digital textile printing inks market is fragmented into clothing/garments, household, technical textiles, and display & others. The clothing/garments segment accounted for the largest market share and is estimated to grow at a CAGR of 12.1% during the forecast period.
Region-wise, the global digital textile printing inks market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest market share and is estimated to grow at a CAGR of 11.9% during the forecast period. Europe is segmented into the United Kingdom, Germany, France, Spain, Italy, and the rest of Europe. Italy, Spain, and France are the leading textile-producing nations in Europe. Europe captured the largest market share in 2021, both in terms of volume and revenue, and is expected to maintain its dominance throughout the forecast period. This results from the region's significant companies and well-established textile and garment industries.
Asia-Pacific is the second largest region. It is estimated to reach an expected USD 995 million by 2030, growing at a CAGR of 11.6%. Asia-Pacific is investigated. Asia-Pacific consists of China, India, Indonesia, Thailand, Australia, and the rest of Asia-Pacific. Increased demand for printed home textiles in countries like India and China is expected to contribute to market expansion. Additionally, a shift in consumer preference from plain to printed clothes in the region, particularly in countries such as India, increases demand for digital textile printing ink. Due to significant textile manufacturers in China, India, and South Korea, Asia-Pacific is one of the world's largest textile markets.
The primary critical players operating in the global digital textile printing inks market include BASF SE, Dover Corporation, The DyStar Group, Zhengzhou Hongsam Digital Science & Technology Co., Ltd., Huntsman Corporation, Kornit Digital Limited (Kornit), Sensient Technologies Corporation, Sawgrass Technologies, SPGPrints B.V., and Zhejiang Lanyu Digital Technology Co. Ltd. (Lanyu Digital), AM Printex, Digitex India Inc., APV Engineered Coatings, Eastern Marking Machine Corp., T&K Toka Corporation, and Leibinger Group .
September 2022 - BASF has successfully renewed its quality (ISO 9001), environment (ISO 14001), and energy (ISO 50001) certifications for its Düsseldorf-Holthausen and Monheim am Rhein sites. After a four-day external audit by two auditors from DQS GmbH, certification was issued for essential standards in quality, environmental, and energy management at the largest BASF manufacturing site to produce ingredients for the Personal Care business and the administrative headquarters in Monheim am Rhein. September 2022 - BASF, for the first time, offers neopentyl glycol (NPG) and propionic acid (PA) with a cradle-to-gate product carbon footprint (PCF)1 of zero2. Produced at BASF's Ludwigshafen Verbund site, Germany, the products are available globally as "NPG ZeroPCF" and "PA ZeroPCF." BASF achieves zero PCF for NPG and PA by using renewable raw materials in its unique Verbund production system via its biomass balance (BMB) approach. For NPG, BASF additionally uses renewable energy for production.
Global Digital Textile Printing Inks Market: Segmentation
By Ink Type
Reactive Acid Direct Disperse Sublimation Pigment
Clothing/Garments Household Technical Textiles Display & Others
North America Europe Asia-Pacific LAMEA.
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