Digital printing gradually replaces traditional craftsmanship

As a new printing method, digital inkjet printing is in line with the current personalized, fashionable and rapidly changing consumer trends, and has become the fastest growing field in the printing and dyeing industry in recent years. With the continuous decline in the cost of digital printing equipment and ink, the increase in the replacement rate of digital printing is expected to gradually accelerate, and domestic equipment and ink manufacturers have a cost-effective advantage compared to overseas, and leading companies in the industry have huge room for growth.

The digital printing industry is in line with the consumption trend, and technological progress is expected to achieve large-scale production

As an important part of the textile industry chain, the printing and dyeing industry, as a new printing method, digital inkjet printing fits the current personalized fashion and fast-changing consumption trends, and adapts to the transition from traditional business models to "small batches, personalized The transformation of the new business model of "chemical, rapid response" has become one of the fastest growing areas in the printing and dyeing industry in recent years.

The development of digital printing technology has gone through four stages: technical exploration, proofing customization, small batch production and mass production. In the past 10 years, digital printing technology has continued to develop, and new equipment has been launched in an average of 2-3 years, which has improved to varying degrees in terms of speed, accuracy, and stability.

Penetration is still low and potential space is vast

①The global textile digital inkjet printing output has increased from 1.2 billion meters in 2014 to 4.3 billion meters in 2019, with an average growth rate of 29%. The replacement rate of traditional printing processes has increased from 2.2% to 7.8%, and digital printing processes have replaced The increase in the rate will drive the continuous and rapid growth of the company's digital printing equipment and supporting ink products

②In 2018 and 2019, my country's digital inkjet printing output was about 1.5 billion meters and 1.9 billion meters, accounting for 9% and 11% of the total printed cloth. According to a report released by the China Printing and Dyeing Industry Association, it is estimated that by 2025, the domestic digital inkjet printing output will reach about 4.7 billion meters, accounting for about 29% of the total domestic printing volume, and the global digital inkjet printing output will reach 15 billion meters, accounting for The total proportion is about 27%.

③ According to estimates, the global digital inkjet printing equipment market size and digital inkjet market scale will increase from 8 billion yuan/5.3 billion yuan in 2020 to 26.5 billion yuan/8.9 billion yuan in 2025, and the potential market space is huge.