Digital Textile Printing Market Overview 2024-2028: Projected Market Size, Major Drivers And Key Segments As Per The Business Research Company’s Digital Textile Printing Global Market Report 2024
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LONDON, Jan. 30, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Digital Textile Printing Global Market Report 2024, the digital textile printing market has undergone rapid growth, surging from $2.93 billion in 2023 to $3.39 billion in 2024, marking an impressive Compound Annual Growth Rate (CAGR) of 15.4%. This robust digital textile printing market growth in the historic period is attributed to the adoption by small and medium enterprises, heightened market competitiveness, reduction in lead times, the widespread adoption of digital workflows, and customization trends within the fashion industry.
Continued Growth Trajectory:
Anticipating continued momentum, the digital textile printing market is projected to reach $5.88 billion in 2028, boasting a CAGR of 14.8%. The forecasted growth in the upcoming years is fueled by the adoption by SMEs and emerging markets, competitive dynamics within the market, the surge in fast fashion and quick turnaround practices, the rise of smart textiles and wearables, and the evolution of digital textile design software.
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Key Trends in the Forecast Period:
Major trends shaping the digital textile printing industry in the forecast period include technological advancements, innovations in materials and inks, shifts in consumer behavior, and an increased focus on global market penetration. The industry is evolving to meet the demands of a dynamic market, where customization and sustainability play pivotal roles in driving innovation and growth.
Driving Forces: Increased Customization and Sustainability:
The symbiotic relationship between customization demand and sustainability in textile production is poised to drive the digital textile printing market during the forecast period. This interconnection offers enhanced flexibility, reduced environmental impact, and fosters innovation for a more responsive and eco-friendly industry. The consumer demand for sustainable fashion products is on the rise, as reflected in the substantial growth of the sustainable fashion industry, projected to reach $15 billion by 2030.
Technological Innovation: 3D Textile Printing:
Companies in the digital textile printing market are actively focusing on introducing textile 3D printing technology for personalized and sensitive fashion manufacturing. Technologies like direct-to-textile 3D printing, exemplified by Stratasys Ltd.’s “TechStyle,” allow for the direct application of full-color, polyurethane-like decorations onto various fabrics and garments. This innovation significantly reduces time-to-market for fashion products, enabling quick prototyping and production and contributing to an agile and responsive manufacturing process.
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Stakeholders in the digital textile printing industry, including manufacturers, designers, and investors, can utilize this comprehensive market report as a strategic resource. The digital textile printing market report offers valuable insights into segmentation, market trends, growth potential, and technological advancements. By leveraging this information, industry players can make informed decisions, identify opportunities for growth, and stay ahead in the dynamic landscape of the digital textile printing market.
Digital Textile Printing Global Market Report 2024 by The Business Research Company provides insights on the digital textile printing market size, digital textile printing market segments, digital textile printing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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