Inkjet printing of textiles remains one of the fastest growing segments within the digital print ecosystem. Smithers projected the worldwide market would reach €2.83 billion in 2018 and will more than double its value in 2023.
“Digital textile printing continues to demonstrate a good growth opportunity for all companies in the print and textile supply chains. It is a very fast growing space,” according to Duane Neidert, Vice President of Information, Americas. “To date, only about 5% of textiles globally are digitally printed. Since it is in an early phase of maturity, it has a long way to go in capturing market share.”
In an interview with industry trade publication WhatTheyThink
, Neidert discussed the future of digitally printed textiles as well as the challenges and technological opportunities facing the industry – all of these were addressed at Smithers’ annual Digital Textile Printing 2019 industry conference
. In a follow-up interview, we asked Neidert to expand upon his thoughts.
“The textile printing services that utilize the digital side of technology has been growing at a compound annual growth rate in the low to high teens,” Neidert said. “As digital textile printing gains market traction, there has been greater consolidation within the market. Specialist fabric machine builders and ink formulators are being incorporated into global printer manufacturing firms. This trend will continue,” Neidert added.
The market remains an attractive growth sector of the print industry with new equipment, business models and ink technologies current under development, Neidert said. “It continues to present compelling market opportunity for print technology and ink suppliers,” he explained. In the market report, The Future of Digital Textile Printing to 2023
, Smithers has forecast digital textile printing to continue grow significantly.
In 2018, North America was the third largest regional market behind Western Europe (the most valuable) and Asia (the highest volume). In 2018, output reached 441 million m2
at a value of €808 million. Volume growth through 2023 is forecast at a CAGR of 12.0%, to a total output of 777 million m2
in 2023. Value growth will be slightly slower at 10.8% CAGR, but the outlook remains positive as total value is set to climb to €1.35 billion in 2023.
Digitally printed textile output has grown globally from 1.26 billion m2
to 1.93 billion m2
between 2014 and 2017, a CAGR of 15.2%. Volume growth will continue a slightly slower, though still impressive, 13.4% CAGR. Output volume will rise from a projected 2.17 billion m2 in 2018 to 4.07 billion m2
Watch the full interview with Duane Neidert from Smithers at WhatTheyThink.