Digital textile printing (DTP) market is expected to grow at CAGR of 30 per cent in APAC region in next five years, said a speaker at the Shanghai International Digital Textile Printing Summit 2016, conducted on the sidelines of Textile Printing Fair organised by UBM China in Shanghai.
Global DTP output in 2014-15 was 563.2 million metre square worth $853.8 million and is expected to grow at a healthy CAGR of 28.1 per cent and 30.5 per cent in terms of volume and value, respectively between 2015 and 2020, said Viren Mehta, vice president of Fibre2Fashion.com, citing a study by Fibre2Fashion research team.
The major driving factors behind the high growth forecast is the convenience, the technology and outstanding market potential for DTP in markets like China, India, Turkey, Brazil and Indonesia. These markets offer tremendous investment potential for DTP, Mehta said.
He mentioned that DTP captured more than 1.5 per cent of the overall printed textiles market from virtually nil in early 2000's and is expected to be more than 5 per cent by 2020. Large population and dominant traditional printing unfolds new growth opportunities for the DTP market in APAC. Rapid urbanisation in the region is leading to higher expenditure on clothing and apparel.
China holds 52 per cent share of the APAC DTP market in terms of volume whereas India is the fastest growing country in the APAC DTP market. Indian market is estimated to reach 160.5 mm2 and $300.6 million by 2020.
DTP output in the Indian textiles industry is estimated to reach 223.4 mm2 worth $416.5 million growing at a CAGR of 35.3 per cent and 38.6 per cent, in terms of volume and value respectively between 2015 and 2020. Fibre2Fashion.com's Market Intelligence division has done extensive research on global DTP market and has published 'Global Digital Textiles Printing Market Outlook - By Ink Type, By Application, and By Region-Trends and Forecast till 2020'. The report is available on subscription.