The global digital printing on wood market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The global digital printing on wood market by region.
The global digital printing on wood market size was valued at more than $4,000 million in 2020. It is forecast that the market will grow at a Compound Annual Growth Rate of more than 2% during the forecast period from 2021-2027.
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A digital printer is used for printing on wood. In addition to printing directly on wooden boards, these printers are also capable of printing on small wooden items and wrapping wooden items with vinyl graphics. Also, wood can be digitally printed to produce logos, images, and text printed in photo quality. Woodworking companies are increasingly making use of digital printing for a wide range of applications, including furniture, fixtures, flooring, point-of-purchase displays, wall paneling, and cabinetry.
Factors Impacting the Digital Printing on Wood Market
The market for digitally printed wood flooring is mainly driven by the rising usage of engineered wood flooring among designers and architects.
Increasing consumer concerns about alternatives to wood, coupled with high initial costs, will restrain the market growth.
In the global real estate market, the growth of residential properties has created lucrative opportunities. Additionally, the market is poised for growth due to the emergence of advanced printers.
A combination of digitally printed oriented strand boards being used in applications such as paneling, furniture making, flooring, packing boxes, and ceilings is driving this segment’s growth.
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Impact of Covid-19: Digital Printing on Wood Market
The Coronavirus outbreak has significantly affected the global market for digital printing on wood. Global slowdown and worker unavailability have forced the shutdown of production facilities worldwide. Due to the Covid-19 outbreak, manufacturing utilization has been significantly reduced, and travel bans & closures of manufacturing facilities resulted in workers staying away from their factories, which in turn led to the market slowing down.
Asian and European countries are experiencing a major drop in business and revenue due to the shutdown of manufacturing facilities. Consequently, the business of the production and manufacturing sectors has been adversely affected by Covid-19’s outbreak; this, in turn, has slowed the growth of the market.
In spite of this, the adverse impact of Coronavirus is expected to last only for a short period of time, and by early 2021 the market is expected to experience a robust recovery rate in addition to the extensive demand for these systems in response to the pandemic.
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Regional Analysis: the Digital Printing on Wood Market
Regions that have been studied in terms of digital printers on wood: Asia-Pacific, Europe, North America, and LAMEA. During the forecast period, North America is expected to account for a major share of the global market. The growth in North America is dominated by the U.S. due to the large number of consumers demanding digital wood printing. This is especially true in Georgia, Florida, and North and South Carolina.
Digital printing in the wood industry in Europe accounts for a significant share of the global market and is expected to see significant growth during the forecast period. In Europe, the Construction 2020 Action Plan established by the government aims to stabilize the growth of the construction industry. There will be a positive impact on the market from the plan.
Key Competitors: the Digital Printing on Wood Market
Digital printing on wood market analysis and profiles of the major market players include:
Stainer Schriften & Siebdruck GmbH & Co. KG
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Segmentation Analysis: the Digital Printing on Wood Market
Segmentation of the digital printing market on wood is done by end-use and type.
What is the goal of the report? • The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. • During the forecast period, the report analyzes the growth rate, market size, and market valuation. • The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. • The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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