by Industrial screen printing is a process used for printing logos, designs, and images on various surfaces through a screen mesh that is generally made of silk or other fabric. It is commonly used in textile printing on garments and fabric where large production volumes are required. The growing textile and apparel industry worldwide has been driving the demand for industrial screen printing.
The global industrial screen printing market is estimated to be valued at US$ 7.87 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key drivers of the industrial screen printing market has been the increasing adoption in the textile industry. The textile industry has been growing at a steady pace over the past few years. According to data from Indiastat, the Indian textile industry grew by around 15-20% during 2017-2021. Moreover, clothing and footwear retail sales worldwide increased by 5% in 2021 from the previous year. The growing textile industry has resulted in higher demand for screen printing technology from textile manufacturers. Screen printing is commonly used in the mass production of garments and fabrics as it allows for high-quality and detailed design printing at large volumes. Therefore, the rising textile industry worldwide is expected to favor the growth of the industrial screen printing market during the forecast period.
SWOT Analysis
Strength:
– Industrial screen printing is a highly scalable technique that enables mass production of products in a cost-effective manner.
Weakness:
– Setting up an industrial screen printing operation requires significant capital investments in equipment and infrastructure.
– Standard screen printing is not suitable for small batch sizes or customized products.
Opportunity:
– Growing demand for screen printed packaging from various end-use industries like food and beverage presents an opportunity for market growth.
– Emergence of new application areas like printed electronics offers potential opportunities.
Threats:
– Availability of alternative decorative and functional printing techniques like digital printing poses competitive threats.
– Stringent environment protection norms associated with solvent-based inks require investments in compliance.
Key Takeaways
The Global Industrial Screen Printing Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 7.87 Bn by 2023 registering a CAGR of 4.9% during the forecast period.
Regional analysis comprises- North America currently dominates the industrial screen printing market with largest share. Asia Pacific is expected to witness fastest growth going forward due to growing industrial activities and manufacturing output in countries like China and India.
Key players operating in the industrial screen printing market are ITT Corporation, Ruhrpumpen Group, KSB AG, Xylem Inc., Flowserve Corporation, Wilo SE, Sulzer AG, Weir Group plc, Ebara Corporation, and Grundfos AG. These companies are focusing on development of innovative and automated screen printing solutions to cater to the growing application scope across various industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
