Digital Textile Growth Projected at 17.5% Annualy
The digital textile market isn't the largest area under digital processes at just 2.8% of the market share, but it's about to blow past the average growth rate of just 3%. In a study on the future of digital textile printing, it was found that over the next 5 years the volume of fabric printed with inkjet equipment will more than double - growing from 870 million m2 in 2016 to 1.95 billion m2 in 2021, a 17.5% CAGR. According to Dr. Justin Hayward, author of the report, "The revolution digital printing has created in graphics, and more recently in ceramics, shows a market penetration of over 70% can occur within a few years..." this proves that it is possible for the market to grow so quick. Inkjet's reduced set up time makes for a quick turnaround makes it perfect for the demands of the fashion industry, as they move towards multiple mini-sessions and print-on-demand models. Plus the increasing availability of web-to-print systems makes digital textile even more convienent.
Full report can be found here: http://www.smitherspira.com/products/market-reports/packaging/the-future-of-global-corrugated?utm_source=PIM&utm_medium=fastfact