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Data published by Allied Market Research has revealed that the global digital textile printing inks market will reach $2,114 million by 2023, after being valued at $698 million in 2016.
Based on ink type, the sublimation segment occupied approximately half share in 2016 in terms of revenue.
Digital textile printing inks are predominantly used on garments, but are also used on large format rolls of textile. The sector has witnessed significant growth owing to increase in demand for advertisements and corporate branding such as flags, retail graphics and banners.
The sublimation ink segment has witnessed major demand owing to increase in demand for dye sublimation printers in computer printing applications.
Furthermore, the demand for pigment-based inks is anticipated to witness growth owing to its excellent archival print life and colour stability.
Clothing and household segments are expected to create lucrative growth opportunities for the digital printing inks market owing to an increase in textile and household decorative applications.
Europe is the biggest market for digital textile printing inks and is anticipated to grow at a CAGR of 16.5% during the forecast period. In Asia-Pacific, a rise in urbanisation, in countries such as China and India, is expected to fuel the market growth and create lucrative growth opportunities.
Key players have economically invested majorly in R&D activities to develop advanced products to cater for the requirements of the market. These include: AnaJet, DuPont, Kiian Group, Sawgrass and Kornit Digital.
