Digital textile printing (DTP) market is expected to grow at CAGR of 30 per cent in APAC region in next five years, a speaker at the Shanghai International Digital Textile Printing Summit 2016 said.
Global DTP output in 2014-15 was 563.2 million metre square worth 853.8 million US dollar 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, Viren Mehta, vice president of Fibre2Fashion.com, said 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.
