Global Digital Textile Printing Ink Market Forecast (2024-2030)

The global digital textile printing ink market is poised for substantial growth from 2024 to 2030, driven by advancements in technology, increased demand in various sectors, and a shift towards sustainable printing methods. Below is a comprehensive analysis enriched with data and segmented insights.

Market Size and Growth

The global digital textile printing ink market was valued at approximately USD 1.9 billion in 2023 and is projected to reach USD 4.2 billion by 2030, growing at a CAGR of 10.4%​ (Research & Markets)​​ (Value Market Research)​. This growth is propelled by the increasing adoption of digital textile printing technologies across the fashion, home décor, and industrial sectors​ (Grand View Research)​​ (PBI Research)​.

Key Market Drivers

1. Technological Advancements: Innovations in digital printing technologies, such as dye-sublimation and direct-to-garment (DTG) printing, are enhancing print quality and efficiency​ (Inkwood Research)​​ (Syndicate Market Research)​.
2. Rising Demand for Customization: The fashion industry’s need for high-quality, customized designs is driving the market. Fast fashion trends particularly boost demand in countries like India, where the market is expected to grow at a CAGR of 14.9% through 2034​ (Future Insights)​.
3. Sustainability: Digital textile printing uses less water and energy compared to traditional methods, making it a more environmentally friendly option​ (IndustryARC)​​ (StraitsResearch)​.

Regional Insights

• Asia-Pacific: Dominates the market with significant growth expected in China and India due to financial stability, government support, and increasing domestic demand​ (MarketResearch)​​ (IndustryARC)​.
• North America: The U.S. market is strong, driven by the apparel and home décor segments. The U.S. market alone was valued at USD 403.5 million in 2023​ (Research & Markets)​.
• Europe: Holds a significant share due to the presence of major fashion hubs and technological advancements​ (Allied Market Research)​.

Market Segmentation

1. By Ink Type:
   • Sublimation Ink: Largest segment, projected to grow at a CAGR of 11.4% due to its high durability and colorfastness​ (StraitsResearch)​.
   • Reactive and Pigment Inks: Used for natural fibers, showing steady growth due to their application in high-quality textiles​ (GII Research)​.
2. By Application:
   • Apparel: Dominates the market with over 53% share in 2023, driven by fast fashion and customization needs​ (Grand View Research)​​ (Grand View Research)​.
   • Home Décor: Second fastest-growing segment, with applications in items like bed linens and curtains​ (Future Insights)​​ (Inkwood Research)​.
   • Soft Signage: Increasingly popular due to its lightweight and high-resolution qualities​ (Grand View Research)​.

Competitive Landscape

The global digital textile printing ink market is highly competitive, with several key players driving innovation and market growth. Major companies in the market include:

1. DuPont: DuPont has a significant presence in the digital textile printing ink market, known for its Artistri series of inks. In 2022, DuPont accounted for approximately 15% of the global market share, driven by its strong R&D capabilities and wide product portfolio. DuPont. (2023). Annual Report 2022.(11)
2. Kornit Digital: Kornit Digital is another leading player, particularly known for its eco-friendly NeoPigment inks. The company reported revenues of USD 322 million in 2022, reflecting a year-on-year growth of 19%. (12)
3. Sensient Technologies: Sensient Technologies offers a range of digital textile inks under its ElvaJet brand. The company has been focusing on expanding its market presence through strategic acquisitions and partnerships, contributing to its 10% market share in 2022 (13).
4. Huntsman Corporation: Huntsman is a major player with a diverse range of textile inks and chemicals. In 2022, Huntsman reported sales of USD 250 million from its textile effects division, which includes digital textile printing inks (14).
5. EFI Reggiani: EFI Reggiani is known for its Reggiani series of digital textile printers and inks. The company has been expanding its footprint in emerging markets, achieving a 12% market share in 2022 (15).

Future Outlook

The future of the digital textile printing ink market looks promising with continuous advancements in printing technologies, expanding applications in various sectors, and a growing emphasis on sustainability. The market is expected to see more mergers and acquisitions, enhancing the capabilities and market reach of key players​ (Syndicate Market Research)​​ (GII Research)​.

Investment and M&A Activities

The digital textile printing ink market has seen significant investment and merger and acquisition (M&A) activities, indicating strong growth potential and industry consolidation.

1. Acquisition by Ricoh: In 2022, Ricoh acquired ColorGATE Digital Output Solutions GmbH, a leading provider of software and ink solutions for digital printing, for USD 45 million. This acquisition aims to enhance Ricoh’s position in the digital textile printing market (17).
2. Partnership between Epson and Robustelli: Epson’s partnership with Robustelli, a manufacturer of digital textile printers, has strengthened its market position. The collaboration focuses on developing advanced printing technologies and expanding market reach (18).
3. BASF’s Investment in R&D: BASF invested USD 30 million in 2022 in its R&D facilities to develop new ink formulations and enhance the sustainability of its products. This investment aims to cater to the growing demand for eco-friendly digital textile inks (19).

References

1. Grand View Research. (2023). Digital Textile Printing Market Size, Share, Trends Report, 2030.
2. Future Market Insights. (2023). Digital Textile Printing Market Trend, Share & Forecast 2033.
3. Precision Business Insights. (2023). Digital Textile Printing Ink Market | Global Analysis 2022 – 2028.
4. Allied Market Research. (2023). Digital Textile Printing Market – Size, Report & Overview.
5. Maximize Market Research. (2023). Digital Textile Printing Market: Industry Analysis and Forecast (2022-2029).
6. Research and Markets. (2023). Digital Textile Printing – Global Strategic Business Report.
7. Value Market Research. (2023). Digital Textile Printing Ink Market Share | Global Report, 2032.
8. Inkwood Research. (2023). Global Digital Textile Printing Inks Market | Size, Growth.
9. Market Research. (2023). Global Textile Printing Inks Market Analysis and Forecast 2024-2030.
10. Industry ARC. (2023). Digital Textile Printing Market Research Report: Market size, Industry outlook, Market Forecast, Demand Analysis, Market Share, Market Report 2021-2026.
11. DuPont. (2023). Annual Report 2022.
12. Kornit Digital. (2023). Financial Results 2022.
13. Sensient Technologies. (2023). Company Overview.
14. Huntsman Corporation. (2023). Annual Report 2022.
15. EFI Reggiani. (2023). Market Insights.
16. Syndicate Market Research. (2023). Global Digital Textile Printing Ink Market By Type, By Application, and By Region – Overall In-depth Analysis, Global Market Share, Top Trends, Professional & Technical Industry Insights 2024 – 2030.
17. Ricoh. (2023). Acquisition of ColorGATE Digital Output Solutions GmbH.
18. Epson. (2023). Partnership with Robustelli.
19. BASF. (2023). R&D Investment in Digital Textile Printing.
20. Straits Research. (2023). Digital Textile Printing Inks Market Size, Demand to 2030.
21. GII Research. (2023). Textile Printing Ink Market Report: Trends, Forecast and Competitive Analysis to 2030.
22. Grand View Research. (2023). U.S. Digital Textile Printing Market | Industry Report, 2030.