Digital Printing on Wood Market Expected to Reach $5,979.6 Million By 2030

According to a new report published by Allied Market Research, titled, “Digital Printing on Wood Market 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. North 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.

A 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, the 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 even cabinetry. The benefits associated with the digital printing on wood includes total design flexibility, high image quality, substrate versatility, and low labor requirements.

The global Digital printing on wood industry is anticipated to witness significant growth over the period of forecast. The significant impacting factors in the market include increase in preference towards printed wood flooring among designers and architects and rise in usage of engineered woods. However, the high initial costs along with concerns related to emergence of alternatives to the wood may restrain the digital printing on wood market growth.  On the contrary, growth in the 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 application, 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 the North America is dominated by 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.

COVID-19 Impact Analysis

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. 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 digital printing on wood market in 2020. 

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.
• Roofing segment is anticipated to witness 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.