LONDON--(BUSINESS WIRE)--The global digital textile printing market is expected to grow at an impressive CAGR of more than 18% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global IoT market in energy grid management for 2017-2021. The market is segmented by ink type (disperse and sublimation inks, reactive ink, acid ink, and pigment ink) and by application (textiles and clothing, soft signage, home textiles, and others).
Technavio’s research analysts segment the global digital textile printing market into the following regions:
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EMEA: largest digital textile printing market
EMEA holds a dominant position globally in the textile and clothing market and therefore occupies the largest share in the global digital textile printing market. The leading textile manufacturing countries in this region are Italy and Germany, followed by France, Spain, and Portugal. UAE has the textile market as the second largest market, preceded by the oil market, which is the largest. The largest share in this region is occupied by knitted fabrics, which accounted for approximately 50% share in 2016.
“The textile industry in UAE is expected to further escalate during the forecast period due to the lower cost of raw materials. The price of polypropylene polymer recorded to be approximately 21% lesser in the Middle East to that of the price in Western Europe. Therefore, the upsurge in the textile industry will drive the digital textile printing market in this region during the forecast period,” says Kshama Upadhyay, a lead analyst from Technavio for paints, coatings, and pigments research.
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Global digital textile printing market in APAC
The growth in the textile market in countries such as China and India, due to low labor cost, has fueled the growth of the digital textile printing market in APAC. Since the last three decades, China has been accounted as the chief producer and exporter of textiles. Additionally, investments in inventory such as shuttleless looms and capacity expansions to manufacture good quality textiles are anticipated to boost the textile and clothing market. To build Xinjiang as a hub for textile and apparel manufacturing by 2030, China has undertaken several projects. The government of China is expected to invest approximately USD 8.42 billion to layout Korla economic and technological zone in Xinjiang region. Adding on, the government is also expected to invest approximately USD 1.6 billion in 201 shuttleless looms in Xinjiang textile and apparel manufacturing hub.
“The textile and clothing exports from Vietnam have witnessed significant growth. It is estimated that there has been an increase in exports by 150.5% during 2010-2016. Vietnam considers the textile and clothing market as a major source for foreign exchange earnings. Furthermore, due to increasing investments in the textile manufacturing market, the market in this region is expected to grow substantially, which will translate into the demand for digital textile printing,” says Kshama.
Global digital textile printing market in the Americas
The demand from clothing and home textiles is a major driver for the digital textile printing market in the Americas. The Americas is expected to decrease the imports of textiles from many countries such as China and Vietnam due to the greater investment by the foreign-owned textile manufacturers. In 2016, a Shanghai-based firm Labon has invested about USD 3.2 million in fibers and textiles in South Carolina. Additionally, King Charles Industries, which is a joint venture of Kingwhale and HORNWOOD, has invested approximately USD 12.5 million in finished fabrics in North Carolina in 2016. Extreme automated production in manufacturing facilities has paved the way for these investments, which are expected to drive the textile market, further increasing the demand for digital textile printing in the Americas.
The top vendors in the global digital textile printing market as highlighted in this market research analysis are:
- Huntsman International
- JK Group
- Kornit Digital
- Kiri Industries
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