The global dye sublimation printing market is projected to grow at a CAGR of 16.8% during the forecast period (2020 - 2025). Owing to the increase in spending on marketing and advertising efforts by organizations to gain brand recognition, the demand for soft signage and print advertising material is expected to drive the market for dye-sublimation printers. Growing apparel market and furnishing fabrics in home decor are going to significantly increase the demand for printing equipment.
- The increasing efforts by various organizations to gain market share via different mediums of marketing is expected to boost the demand for visual communications such as soft signage, print marketing materials and display ads in which dye sublimation printing is being extensively used. According to GroupM, a leading advertising media company headquartered in New York, US, the global marketing services spending in 2018 stood at USD 475.62 billion.
- Dye sublimation printers are extensively used for sports apparels printing; due to reasons such as printing detail quality and ease of printing process. These advantages are expected to drive the demand and positively affect the market for dye sublimation printing. Global sports apparel market stood at USD 173.68 billion in fiscal 2018 and is expected to reach USD 219.76 billion by 2024, according to NIKE.
- Increasing use of printed fabrics in the home textiles segment is expected to boost the market for dye-sublimation printers as demand for such fabrics is increasing globally. China's home textile market size is expected to reach USD 42 billion by 2020 according to Fibre2Fashion.
Scope of the Report
The technology is used in an array of applications, increasing adoption in garments, carpets, wall coverings, upholstery, technical and visual communications such as displays and signage, and technical textiles are expected to propel further the growth in the market.
Key Market Trends
Growing Home Textile and Apparels Market is Expected to Drive the Market
- Global sports apparel market is expected to reach USD 219.76 billion by 2024, according to Nike; the requirement for printed apparels such as T-shirts, and sports equipment is also likely to increase. Puma's apparel sales have been growing in the last three years; during fiscal 2016,2017, and 2018 sales of apparel stood at EUR 1333.2, 1441.4 and 1687.5 million respectively.
- Dye-sublimation printing is preferred in home textile manufacturing; for example, this type of printing is common for curtain manufacturing. During fiscal 2018, in Canada, alone sales of curtains and linens stood at CAD 431.26 million according to Statcan.
- Currently, the digital form of printing represents a small share of the textile printing market in home textile, fashion, and industrial applications and dominated by analog printing. According to Nextwave, a leading digital textile printing integrator the market for digital textile printing is expected to reach USD 31.4 billion by 2020.
Asia-Pacific Region Is Expected to Have High Growth for Dye Sublimation Printing Market
- Currently, Europe holds the maximum share of the dye-sublimation printer market due to its significant share in global fashion and home textile printing market. According to uktradeinfo value of sporting goods exports from the United Kingdom alone stood at GBP 536 million during fiscal 2018. Out of which GBP 414 million exports were for European countries.
- However, Asia-Pacific region is expected to take leading spot in coming years. Owing to growing economies such as China and India; the textile demand is likely to increase in the region, and this is going to influence the requirement for digital textile printing, in turn, boosting the dye-sublimation printers market. According to Fibre2Fashion, home textiles market size in China is expected to reach USD 42 billion by 2020, and the Asia-Pacific region's market share is expected to reach USD 63.1 billion by 2020.
- According to Lenzing by 2020 the major global share of apparel market is expected to be held by Asia-Pacific and Europe regions, respectively both regions will hold 28% and 26% of the apparel market.
The dye sublimation printing market is moving towards the fragmented market as market leaders are banking on diverse product portfolio and product development to gain an edge and the number of local players is also increasing which is creating an intense rivalry in the market. Key players are SEIKO EPSON Corporation, Roland DGA Corporation, Sawgrass Inc., Mitsubishi Electric Corporation, Mimaki Engineering Co., Ltd, etc. Recent developments in the market are -
- Jun 2019 - EPSON opened new textile solutions center at Fujimi plant in Japan, the center will be called 'TSC Asia' and is designed to accelerate the global expansion of the digital textile printing business, TSC Asia is equipped to handle every step in the textile printing process, including textile pre- and post-treatment.
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1.1 Scope of the Study
1.2 Key Study Deliverables
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers
4.3 Market Drivers
4.3.1 Increase in Marketing and Ad Spending
4.3.2 Growing Apparel Market
4.4 Market Restraints
4.4.1 Equipment Cost
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Application
5.1.2 Household and Home Decor
5.1.3 Promotional Materials
5.2.1 North America
5.2.3 Asia Pacific
5.2.4 Rest of The World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 SEIKO EPSON Corporation
6.1.2 Roland DGA Corporation
6.1.3 Sawgrass Inc.
6.1.4 Mitsubishi Electric Corporation
6.1.5 Mimaki Engineering Co., Ltd
6.1.6 Panasonic Corporation
6.1.7 Agfa-Gevaert Group
6.1.8 Colorjet Group
6.1.9 Cond Systems, Inc.
6.1.10 Gandy Digital
6.1.11 Klieverik Heli BV
6.1.12 Mutoh Europe nv.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.