Due to the growing social media revolution every individual is currently looking at wearing something new in each of their individual social posts.
Similar trends are visible in the home furnishing industry as well. Such trends are only going to grow further and this will significantly propel the demand in the upcoming years.
As per Smithers Pira, the market will touch Dhs20 billion by 2023 with a compounded annual growth rate (CAGR) of 11.6 per cent.
Players within the digital textile printing industry in GCC can capitalise on the market growth caused by the eCommerce industry and the exponential demand by the millennials and the rising GenZ population.
Digital textile printing industry is a huge untapped market for the GCC players and it’s the right time for them to grab these opportunities. They will also need to innovative and have state-of-the-art equipment to cater to these demands.
At present, textile printing is a mature global market, but as per reports digital textile printing still forms less than 5-7 per cent of this global industry, so there is a huge window of opportunites awaiting the equipment manufacturers.
GCC houses thousands of retail destinations, including several high end furniture brands and these numbers are on the rise. Millennials are one of the key propellers of digital textile printing market as they are increasingly preferring creatively designed, cost effective and high graphic printed apparels and textiles developed via digital textile printing mecahnism.
T-shirt and home furnishing printing is expected to be the key end use application for digital textile printing.
Also the dramatic shift in the buying patterns of millennials has caused an increase in popularity of the stylish textile designs, both through eCommerce and actual brick and mortar stores.
This is expected to boost growth of the global digital textile printing market.
Currently the Asia Pacific region has the largest market share for textile printing, followed by Europe and North America. Within Asia, China and India alone hold the largest market share for textile printing universally.
Asia-Pacific region is likely to witness highest growth and maintain its dominance in the forecasted period.