Digital Printing on Wood Market Outlook – 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. North America was the highest revenue contributor, accounting for $1,718.6 million in 2020, and is estimated to reach $1,988.8 million by 2030, with a CAGR of 1.6%.
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 user to print photo-quality logos, images, and text directly onto wood substrates. In the wood working industry, digital printing is rapidly being used in a variety of applications, such as furniture, store fixtures, flooring, long with the point-of-purchase displays, wall paneling, and cabinetry.
The digital printing on wood market opportunity is driven by increase in preference towards printed wood flooring among designers and architects and rise in usage of engineered woods. However, high initial costs along with concerns related to the emergence of alternatives to the wood is projected to restrain the market growth. On the contrary, growth in the residential real estate across the globe creates lucrative opportunities for the market. In addition, the emergence of advanced printers in the market is opportunistic for the market growth.
The plywood segment was the largest revenue contributor in 2020, and is expected to grow at a CAGR of 1.4% from 2021 to 2030. Plywood comes in a range of thicknesses as well as offers excellent rigidity. In addition, it can be fabricated in a number of ways for the creation of 4D structures and furniture. These factors primarily fuel the growth of the digital printing on plywood. However, the oriented strand board segment is expected to witness highest growth rate during the forecast period. Increase in adoption of digitally printed oriented strand board in the various applications such as paneling, furniture making, flooring, packing boxes, and ceiling mainly drives the growth of this segment.
By Flooring
Plywood segment generated the highest revenue in 2020.
Segment Overview
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 application, fire retardant applications, furniture, flooring, roofing, yachts, and recreational vehicles.
By End Use
Flooring segment generated the highest revenue in 2020.
By region, 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. Growth in North America is dominated by the U.S. due to the huge demand for digital wood printing from the commercial and residential places across the states such as Florida, Georgia, and North and South Carolina.
By Region
North America segment generated the highest revenue in 2020.
Europe accounts for the second largest share in the global digital printing on wood industry and is expected to witness significant growth during the forecast period. The Construction 2020 Action Plan established by the European government with an aim to stabilize construction industry growth in the region is projected to have a positive impact on the market.
Top Impacting Factors
As per the digital printing on wood market outlook, the significant factors that drive the digital printing on wood market growth include increase in preference toward printed wood flooring among designers and architects and rise in usage of engineered woods. However, high initial costs along with concerns related to emergence of alternatives for wood restrain the market growth. On the contrary, growth in the residential real estate across the globe creates lucrative digital printing on wood market opportunity.
Competitive Analysis
Competitive analysis and profiles of the major Digital printing on wood market players such as Electronics For Imaging Inc., Roland DG Corporation, SWISS KRONO Group, Simpac S.r.l., and Stainer Schriften & Siebdruck GmbH & Co. KG. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
COVID-19 Impact Analysis
Global digital printing on wood 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. 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 slowdown in the growth of the market in 2020.
The Asian and European countries under lockdown have suffered major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the market in 2020.
However, the negative impact of COVID-19 on the market is expected to be there for a short period of time, and by early 2021 the market is anticipated to observe robust recovery rate along with the extensive demand for these systems during the post pandemic period.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global digital printing on wood market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall digital printing on wood market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current digital printing on wood market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the digital printing on wood market share of key vendors.
- The report includes the market trends and the market share of key vendors.
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.
- Rest of North America
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- LAMEA
Key Market Players
- Electronics For Imaging, Inc.
- Roland DG Corporation
- SWISS KRONO Group
- Simpac S.r.l.
- Stainer Schriften & Siebdruck GmbH & Co. KG
Digital Printing on Wood Market Report Highlights
| Aspects | Details |
 By Type |
|
 By End Use |
|
 By Region |
|
 Key Market Players | STAINER SCHRIFTEN & SIEBDRUCK GmbH & CO. KG, ROLAND DG CORPORATION (ROLAND DGA CORPORATION), .ELECTRONICS FOR IMAGING, INC., SIMPAC S.R.L. (IMPRESSION SRL), SWISS KRONO GROUP |
Analyst Review
According to the CXOs of leading companies, the digital printing on wood market is going through enormous transformation and growth. The factors such as increase in preference towards printed wood flooring among designers and architects and rise in usage of engineered woods drives growth of the market.
However, the high initial costs along with concerns related to emergence of alternatives to the wood may restrain the market growth. On the contrary, growth in the residential real estate across the globe creates lucrative growth opportunities for the market.
The digital printing on wood market is competitive and comprises a number of regional and global vendors competing based on factors such as cost of hardware & services; reliability; efficiency; and cost of the product, and support services. Owing to the competition, vendors operating in the market are offering advanced digital printing on wood solutions to improve the marketing strategies of enterprises. For instance, in March 2019, Roland DG Corporation launched VersaUV LEF2-200 20, the benchtop UV flatbed printer, with simulated embossing on to a vast array of materials up to 100mm thick. It allows users to print directly on canvas, PVC, wood, leather, and other materials.
The Digital Printing on Wood Market is estimated to grow at a CAGR of 2.8% from 2021 to 2030.
The Digital Printing on Wood Market is projected to reach $5,979.6 million by 2030.
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Increase in preference toward printed wood flooring among designers and architects and rise in usage of engineered woods.
The key players profiled in the report include Roland DG Corporation, SWISS KRONO Group, Simpac S.r.l. and many more.
On the basis of top growing big corporations, we select top 10 players.
The Digital Printing on Wood Market is segmented on the basis of type, end use, and region.
Oriented strand board segment would grow at a highest CAGR of 4.90% during the forecast period.
North America region will dominate the market by the end of 2030.
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