Allied Market Research, titled, “Digital Printing on Wood Market Size by Type, End Use, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030”, The global digital printing on wood market size was valued at $4,607.6 million in 2020, and is projected to reach $5,979.6 million by 2030, registering a CAGR of 2.8% from 2021 to 2030. NThe orth America region is expected to be the leading contributor to the global Digital printing on wood market during the forecast period, followed by Europe and Asia-Pacific.
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Printing on wood is done with the help of digital printers. These printers enable users to directly print onto pre-manufactured wooden boards, onto small wooden items, or wrap wooden items with vinyl graphics. In addition, digital printing on wood enables users to print photo-quality logos, images, and text directly onto wood substrates. In the woodworking industry, digital printing is rapidly being used in a variety of applications, such as furniture, store fixtures, and flooring, along with point-of-purchase displays, wall paneling, and even cabinetry. The benefits associated with digital printing on wood include total design flexibility, high image quality, substrate versatility, and low labor requirements.
Global Digital printing in the wood industry is anticipated to witness significant growth throughout the forecast. The significant impacting factors in the market include an increase in preference towards printed wood flooring among designers and architects, and a rise in the usage of engineered wood. However, the high initial costs along with concerns related to the emergence of alternatives to wood may restrain the digital printing on wood market. On the contrary, growth in residential real estate across the globe creates lucrative growth opportunities for the market.
The global digital printing on wood market is segmented on the basis of type, end-user, and region. On the basis of type, the market is bifurcated into plywood, particleboard, oriented strand board (OSB), and medium-density fibreboard (MDF). By end use, the market is classified into vertical applications, fire retardant applications, furniture, flooring, roofing, yachts, and recreational vehicles.
Region-wise, the Digital printing on wood market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the global market in 2020 and is expected to dominate the market in terms of revenue during the forecast period, North America accounted for a major share of the global market in 2020 and is expected to dominate the market in terms of revenue during the forecast period. Growth in North America is dominated by the U.S. due to the huge demand for digital wood printing from commercial and residential places across the states, such as Florida, Georgia, and North and South Carolina.
The global market has been significantly impacted by the COVID-19 outbreak. The production facilities have been halted, owing to the slowdown and unavailability of the workforce across the globe. The COVID-19 outbreak has caused a significant and protracted drop in manufacturing utilization, and travel bans & facility closures kept workers out of their factories, which led to a slowdown in the growth of digital printing on the wood market in 2020.
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Digital Printing on Wood Market Key Segments:
By Type
Plywood
Particleboard
Oriented Strand Board (OSB)
Medium-Density Fibreboard (MDF)
By End Use
Vertical application
Fire retardant applications
Furniture
Flooring
Roofing
Yachts
Recreational vehicles
By Region
North America (U.S., Canada, Mexico)
Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Findings of the Study
The Plywood segment is PROJECTED to be the dominant offering over the forecast period, followed by Particleboard.
APAC and North America collectively accounted for more than 55.75% of the digital printing on wood market share in 2020.
The roofing segment is anticipated to witness the highest growth rate during the forecast period.
China was the major shareholder in the Asia-Pacific Digital printing on wood market, accounting for approximately 24.93% share in 2020.
The key players profiled in the report include Electronics For Imaging, Inc., Roland DG Corporation, SWISS KRONO Group, Simpac S.r.l., and Stainer Schriften & Siebdruck GmbH & Co. KG. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.
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