According to the new market research from MarketsandMarkets, “Digital Printing Market for Printers, Inks, and Print Heads by Ink Type (Aqueous, Solvent, UV-Curable, Latex, and Dye Sublimation), Print Head Type (Inkjet and Laser), Substrate Type (Glass, Textile, Paper), and Geography - Global Forecast to 2023,” the digital printing market was valued at $22.18 billion in 2017 and is expected to reach $28.85 billion by 2023, at a CAGR of 4.48% between 2017 and 2023.
 
The growing demand for sustainable printing, development of packaging and textile industries worldwide, and reduction in per unit cost of printing with digital printers are expected to drive the growth of the digital printing market worldwide.
 
The ink market for digital printing is expected to hold the largest share of the digital printing market between 2017 and 2023. The overall digital printing market includes digital printer market, ink market for digital printing, and printhead market. The ink market for digital printing has the largest share of the overall market owing to its extensive benefits in digital printing, such as they are waterproof and UV-resistant, and do not have any significant environmental impact.
 
UV-cured ink is expected to hold the largest share between 2017 and 2023. UV-cured ink for digital printing is the fastest-growing segment, which offers various advantages such as quick drying, environment-friendly, low price, and resistance to UV rays, which are very important for printing on plastics, textiles, and others. As a result, UV-cured ink is increasingly replacing solvent ink despite being more expensive.
 
North America held the largest share of the digital printing market in 2016. The market in North America has many startups and favorable compliance and government regulations.