COVID-19 Impact on Digital Printing Market Can See 35.18 Billion by 2028 Major Canon, Hewlett-Packard Development, Ricoh Company, Mimaki Engineering

London, UK -- (SBWire) -- 12/01/2021 --The Digital Printing Market is expected to reach USD 35.15 Billion by 2028 from USD 21.25 Billion in 2020, at a CAGR of 6.59% from 2021 to 2028. The digital printing industry is expected to witness strong growth during the forecast period, owing to the rapid adoption of inkjet printing solutions across the packaging and paper sectors due to flexible and cost-efficient feature. Also, the market will be driven by a surge in the adoption of IoT and AI-based technologies and their successful implementation across the globe. The growing usage of digital printing in consumer electronics is expected to boost the demand for the different components of digital printing.

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Rising sustainable printing solutions in pharmaceutical, healthcare, packaging, and label industries along with demand for cost-efficient printing methods are some of the key drivers of the digital printing market observed in recent years. Further, growing innovation in printing technology for Tier II & Tier III companies provides lucrative opportunities for the manufacturers.

However, the high initial investment for digital printing plants acts as a major challenge for this market. As well the growing popularity of digital delivery of documents and data is expected to reduce the demand for printing certain products such as directories, financial documents, advertisements, and books which is affecting the market.

Covid-19 Impact :
The emergence of COVID-19 has declined the growth rate of the market in 2020, and the market is estimated to witness relatively slow growth till the end of 2021. COVID-19 has brought businesses across all industries down, including the digital printing domain. And as the world slowly goes into recovery, the way business is done will never be the same again. COVID-19 has changed the dynamics for all businesses in general. While technology has played an important part in our working lives for years, it has never been so heavily relied on for things such as video conferences and communicating with team members. While office printers may be used less, this will now likely lead to a rise in home printers being purchased for those working from home. Printing is still essential, especially if someone needs to make hard copies of important documents. On the other hand, the COVID-19 pandemic has increased the demand for flexible packaging, which is considered more hygienic due to limited handling. Another positive result has been the rise of F&B delivery services, which also expands the use of disposable packaging.

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By Printhead Type
?inkjet
?laser

By Product Type:
?Digital Printers
?Ink
?Printhead

By Ink Type:
?UV-Cured Ink
?Aqueous Ink
?Solvent Ink
?Latex Ink
?Dye Sublimation Ink

By Application Type
?Plastic Film or Foil
?Release Liner
?GLASS
?Textile
?Paper
?Ceramic
?Others

Competitive Analysis:
Key Companies Profiled in the report are Canon, Hewlett-Packard Development, Ricoh Company, Mimaki Engineering, Roland DG Corporation, Xerox Corporation, Seiko Epson Corporation, Durst Phototechnik AG, Electronics for Imaging, Inca Digital Printers Limited, Printronix, Brother Industries, Oki Electric Industry, Toshiba, and Samsung Electronics.

By Printhead Type:
For home printing, an inkjet printer is a common choice. They make images by spraying thousands of microscopic ink droplets onto paper with precision, similar to how TV and computer screens render images with thousands of pixels. Yellow, magenta, and cyan ink cartridges are the most common. The printer can blend these three fundamental colors together to create whatever colors are required for the print job.

An element known as the print head rotates back and forth as the paper is fed through a pair of rollers, accurately spraying ink. Though this method is far less complicated than laser printing, it is more prone to smearing.

Toner, a powder that is fused onto the paper, is used by laser printers to create permanent images. These printers are known for producing rapid prints with smudge- and fade-resistant papers. Laser printers flash the picture of the page by focusing laser beams at a revolving light-sensitive drum/photoreceptor. This charges the parts of the drum that correspond to the image's black-and-white or color sections. The laser beam may print patterns such as letters and pictures onto the photoreceptor by reversing the charge in particular regions.

By Ink Type:
Ultraviolet cured ink is made using ultraviolet curing (UV curing), a green technique that uses a photomechanical process to dry ink immediately after printing. This means you may print on almost any non-absorbent surface, such as glass, wood, metal, vinyl materials, and more. Because UV curable ink does not absorb into the substrate, there is no smearing and no need for expensive coatings.

Water makes up the majority of this type of ink's chemistry and is utilized as a carrier to carry the ink's colorant within a drop. Aqueous ink obtains its color from either dye or pigment and is used in high-speed inkjet, wide format, and textile printing.

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Regional Analysis:
The market size for North America was USD 6.53 Billion in 2020. The North American market is witnessing strong growth owing to the rise in the adoption of advanced digital technologies such as IoT, and the development of the growing deployment of such solutions across various end-user industries. Moreover, due to the presence of a number of Digital Printing companies offering comprehensive solutions to enterprises, the North American market holds the highest share. The U.S. Digital Printing market is anticipated to account for the major share of the market, due to the rise of technological advancements in the packaging and textile industry. Moreover, high investment in the technological adoption in the consumer goods and paper vertical in the U.S. and Canada is expected to increase the market during the forecast period.

The European region holds 23% of the market share with a CAGR of 5.43%. European nations are the most developed region across the globe, as almost all large enterprises are located in this region. Rising demand from major countries such as UK, Germany, and France, where the population is growing at a higher pace. Moreover, due to the presence of established hardware & software service providers across the region and the continued increase in the demand for Digital Printing from end-use industries is pushing the market growth.

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