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The Global Digital Printing Plate Market is expected to grow from USD 2.23 Billion in 2019 to USD 3.60 Billion by 2027, at a CAGR of 6.14% during the forecast period 2020-2027. APAC held the largest market value of USD 1.44 Billion in 2019. This is due to the fact that emphasis is much more given by the government and by the people on education, books and children books are used for education.
Digital Printing Plate Market by Type (Thermal CTP Plate, UV-CTP Plates), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The market for the global digital printing plate market is segmented into key players. Major Player includes Fujifilm, Kodak, AGFA, Lucky Huaguang, Strong State, Shanghai Bocica Printing Equipment Co., Ltd., Chongqing Huafeng Printing Material Co. Ltd., JinRuitai Technology, Henan Baotu Printing Materials Co., Ltd., and others. In November 2019, Fujifilm will turn the Fuji Xerox company into a wholly-owned subsidiary by acquiring an additional 25% of the Xerox company.
The global digital printing plate market has been segmented on the basis of type, application, and region. The type segment includes thermal CTP plate, UV-CTP plates, and others. The thermal CTP plate segment held the largest market value of USD 1.46 Billion in 2019. CTP eliminates the various steps, which also eliminates human error. Secondly, it is less sensitive to natural light, so it can be used under bright light. The application segment includes books, magazines, newspapers, packaging, and others. The book segment held the largest market value of USD 795.39 million in 2019. The manufacturer of books uses the digital offset printing plate to print the images on the book cover with special pictures and colorful portraits.
Digital printing is well suited for printing in bundles; it is well suited economically. The larger would be the run more it will be economical. This is the factor driving the market. This provides more options like printing on paper and on other mediums etc. Digital offset printing can do print on demand, personalized print, faster delivery. These are the factors that drive the digital printing market, which in turn provides the digital printing plate market. The CTP plate eliminates the steps required for conventional plate making, which in turn reduces the human error, fuelling the digital offset printing plate market. But a decrease in print media, due to an increase in the demand for online media is acting as a restraint for the market.