InfoTrends has completed a new study called ‘Transforming Textile Printing’ which explores the textile market supply chain, sizes and forecasts the digital textile printing market, focusing on the demand drivers for digital textile production.
The global textile industry is worth approximately $1 trillion. Of that, InfoTrends estimates that the value of digitally printed textile garments, décor items, and industrial products is valued at $10.3 billion in 2012, or less than 1.5% of the total market.
Although the digital textile printing market is small in comparison to the entire textile industry, it is growing rapidly. InfoTrends estimates that revenues from digital textile equipment and ink sales will grow at a compound annual growth rate (CAGR) of 30.7%.
According to InfoTrends, some key trends that are driving this growth include risk mitigation from the retailer and brand community, and on the technology side the emergence of high quality, high spend inkjet print heads, the availability of moderately priced solutions that enable new market entrants, and open system inkjet printheads that allow for multiple ink suppliers resulting in lower ink prices.
‘Transforming Textile Printing’ covers:
- Digital textile printing hardware systems providers and inkjet print head manufacturers
- Digital textile printing ink suppliers and ink types
- Fibers and fabrics used in textile printing
- Sustainability in digital textile printing
The study is based on interviews with buyers and specifiers of digital textiles, digital textile print service providers, and suppliers to the digital textile printing industry (hardware suppliers, inkjet printhead manufacturers, and systems integrators). InfoTrends conducted 67 interviews in all. The reach was global, with interviews primarily in China, India, the United States, and Italy, with a mix from some other European countries.