Dye Sublimation Printing Ink Market Size, Share & Trends Analysis Report By Product Type (Polyester, Polyester Blends, Cotton, Others), By Industry (Garment, Home Décor, Signs and Banner, Flags, Others), By Sales Channel (Direct Sales, Distributors) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global dye sublimation printing ink market size was valued at USD 716.61 million in 2021, and it is expected to reach a value of USD 1803.60 million by 2030, registering a CAGR of 10.8% during 2022– 2030.

Sublimation is an ink printout that is passed to various surfaces due to heat and pressure. The ink converts from a solid-state to gas during the process, migrates, and settles on specially prepared surfaces like a mirror reflection. Because of its high-quality photographic effects, dye-sublimation printing is becoming more popular. This process utilizes thermal transfer to shift different amounts of colored dye pigments from a carrier film to the PVC printing surface, to which the dyes bond chemically.

Globally the rate of expansion in demand for dye-sublimation inkjet printed textiles and rigid media is experiencing an upward demand since the printers are designed for optimal flexibility, which means for different designs, you can produce fabric and product on a faster basis with a faster turnaround. The global dye sublimation printing ink market is segmented into product, industry, sales channel, and region.

Market Dynamics

Drivers: Booming Textile Industry

The dye sublimation printing can be applied to various products, and the demand from automobiles, the textile industry, home decor, and others are further creating upswings for the market growth. The dye sublimation ink industry is expanding rapidly due to the increased need for textile application. This ink is primarily used for graphic transfer on polyester and polyester mixes. Sublimation at hot temperatures is used to adhere it to the fabric. It has several advantageous features that make it an excellent choice for apparel applications. Ultra-pure dyestuff, long printhead life, increased stability, incredibly fast drying time, and vivid colors with high optical density are among the benefits.

Increased sales turnover of textile goods and apparel via e-Commerce platforms in India, Thailand, China, and Bangladesh are predicted to drive industry growth. Additionally, favorable federal regulations in India and China to encourage investment in textile manufacture and printing are expected to supplement the market growth. These factors increase the use of dye sublimation and aids in providing lucrative market growth during the forecast period.

What Are Future Opportunities in Dye Sublimation Printing Ink Market

Automotive Industry Providing Lucrative Opportunities for Growth of Dye Sublimation Printing Ink Market

The automotive industry is one of the largest employers around the globe. As per the European Commission, the automobile sector gives jobs to more than 14 Million Europeans alone and has a turnover that accounts for around 7% of the regional GDP. With changing economic conditions, such as an increase in the purchasing power parity (PPP), translating into improved disposal incomes, coupled with lost cost EMIs and technology changing with the hour, the demand for new and improved automobiles is gaining traction.

Automobile manufacturing includes seats, seat belts, seat headlining, panels, and sound absorption fabrics custom printed with high-quality designs and colors. Dye sublimation printing ink is used extensively in manufacturing various textile fabrics used in automobiles. The growing demand for automobiles is expected to provide lucrative opportunities for the global dye sublimation printing ink market growth during the forecast period.

Regional Analysis

Asia-Pacific and North America to Dominate Dye Sublimation Printing Ink Market

In terms of region, the global dye sublimation printing ink market share is segmented into North America, South America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific is expected to be the fastest-growing region generating USD 132.85 Million in 2021 to USD 380.72 Million in 2030 at a CAGR of 12.41%. With natural resources and easy cheap labor, availability makes Asia-Pacific a lucrative destination for foreign investments. Various regional governments create laws that make foreign investments more appealing to their countries and increase the FDI by automatic route in several sectors. Setting up Special Economic Zones has various tax rebates and compensations also attract foreign players to set foot in the different economies.

The Asia-Pacific is expected to witness significant growth in revenue due to the increasing consumption of printed clothing in India, Japan, Indonesia, China, and Thailand. Besides, the rising adoption of digital fabric printing in China and India is anticipated to boost the market growth in the region. ​Economies like Bangladesh are textile-intensive countries where the sector contributes significantly to GDP share and boosts economic growth. After China, Bangladesh is the world’s second-largest apparel exporter globally, and around 60% of export contracts are from the European Union and others from the Americas region.

North America has been a pioneer in the field of technological development. Today, the region is one of the key manufacturers and consumers of dye sublimation printing ink, generating USD 260.82 Million in 2021 to USD  667.18 Million in 2025 at a CAGR of 10.91%. The U.S. automobile industry is the biggest in the world. As per the International Trade Administration (ITA), the U.S. Department of Commerce, the total light vehicles sale were around USD 17 Million in 2018. Total FDI in the automotive sector reached USD 115 billion in 2018, and R&D investment amounted to USD 105 billion. These factors are expected to present favorable growth opportunities for the automobile industry during the forecast period.

Segmental Analysis

In terms of product type, the global dye sublimation printing ink market share is segmented into polyester, polyester blends, cotton, and others. The polyester blends segment is the most dominant product type during the forecast period, generating USD 181.42 Million in 2021 to USD 490.69 Million in 2030 at a CAGR of 11.69%. Polyester blends are widely used in apparel, carpets, home furnishing, and automotive. The automobile sector is one of the fastest-growing industries in the world. The polyester blend fabrics are observing increased demand from the automotive sector with the emergence of electric cars and bikes.

In terms of industry, the global dye sublimation printing ink market is segmented into garments, home décor, signs and banners, flags and others. The home décor segment is the most dominated segment in industry type during the forecast period, generating USD 102.43 Million in 2021 to USD 272.83 Million in 2030 at a CAGR of 11.5%.  Even though the recent outbreak of the pandemic has slowed down a majority of the projects globally, the world’s construction industry is projected to grow at a considerable rate. However, the overall long-term outlook of the construction industry has a positive growth expectation and is expected to grow above the world Gross Domestic Product (GDP) during the forecast period.

In terms of sales channels, the global dye sublimation printing ink market is segmented into direct sales and distributors. The direct sale segment is the most dominating segment in channel type during the forecast period, generating USD 442.67 Million in 2021 to USD 1132.36 Million in 2030 at a CAGR of 11.5%. In direct sales, manufacturers directly sell their products through an online or offline channel without an intermediary, thereby avoiding profit erosion. Organizations that use the direct sales channel require logistics and transport systems. The direct channel allows manufacturers to communicate with client personnel and develop a suitable product directly. In the last decade, the surge in the e-Commerce platforms has boosted direct sales growth as manufacturers can offer products on e-Commerce platforms with all its specifications being listed. Thus, offering customers better product transparency and ample choices in a small space.

Impact of covid-19

The course of the Covid-19 pandemic remains far from predictable, posing the governments globally with the dilemma of restarting the entire economy at once, along with trade and travel, while avoiding any new outbreak or fresh wave of infections. With the sudden surge in cases globally, lockdown and restrictions have been put up in place again in many countries.

Before the pandemic, several developments took place on an international level. The U.S.-China trade war has affected all economies as dominant trading partners globally. The U.S. trade barriers on China saw Chinese players slashing prices and dumping goods and commodities in other economies. This price decline increased the dependency of buyers on Chinese suppliers, especially in emerging economies. The U.K.’s exit from the EU is expected to result in a considerable slowdown for the British economy before it gains ground. The U.S.-China trade war and Brexit hint at the global economy moving towards protectionism.

The pandemic has put several restraints on the global economy and has brought international trade to a standstill. International borders had been sealed, and various economies have announced nationwide curfews and lockdowns. These scenarios have led to the large-scale migration of laborers.

The human workforce is among the key components of the industrial sector, which is also one of the largest employers. The lack of a skilled workforce and lockdowns have brought many manufacturing activities to a halt, with few of the companies running at half the capacity. Manufacturers of dye sublimating printing ink are expected to have begun evaluating alternative suppliers of raw materials. In addition, bigger companies, which have a large balance sheet, are likely to adopt strategies such as vertical integration, which will gain control of the supply chain and aid in gaining a deeper understanding of domestic markets.

The dye sublimating printing ink market is mostly dominated by small to medium-size privately held enterprises to large-sized companies, and a vast geographical distribution network and competitive pricing have been the major strategies adopted by players. Hence to regain the momentum, significant players in the market are likely to focus on restructuring the supply chain and adding multiple sales partners to the stakeholder list to boost sales numbers. Key players are also expected to turn to increased automation, keeping in mind the uncertainty of the global economy and the workforce. This will also be done to increase just-in-time solutions (JIT) and is expected to aid in the provision of customizations.

Cost Structure Analysis

Variable Cost

Raw materials account for the largest share of the total manufacturing cost of the dye sublimation printing ink. There are multiple suppliers in the market for sourcing these raw materials and components. However, the players in the market rely on single suppliers for certain raw materials like chloride-vinyl acetate copolymer, and polymeric amide. This scenario in the market is established on the belief that although these items would be available from other sources, the loss of certain suppliers may result in a higher cost of materials, delivery delays, short-term increases in inventory, and higher quality control costs in the short term. Players engaged in the business primarily focus on maintaining a healthy relationship with their suppliers to ensure the steady and timely procurement of raw materials.

Although, most of the players engaged in the market purchase raw materials based on production schedules, and as a result, inventory on hand is generally not exposed to price fluctuations. However, fluctuating commodity prices and currency exchange rates are a major concern for these manufacturers. It affects the prices of the material and, consequently, the profitability of the manufacturers in the industry.   

Therefore, changes in political or trade dynamics in these economies are likely to result in supply chain disruptions or the dumping of raw materials on another trading partner. For instance, the trade war between China and the U.S. is likely to result in China dumping its goods and services at a lower price in economies such as Brazil, India, and Mexico.

Labor Cost

The printing ink industry comprises several local and regional players; considering this, several players with low financial budgets may not opt for automation. On the other hand, labor cost has increased substantially in the last few decades and varies as per the location. Moreover, with the advent of technology, the demand for high skilled workers has increased simultaneously, increasing the average wage of workers.

In India and the U.K, immigrant labor rights are strictly followed to ensure that they receive optimum wages. Additionally, inflation has pressured governments of several nations to pass regulations that ensure minimum labor wage, which has compelled manufacturers to opt for technology. According to Eurostat, the average hourly labor cost in Europe was estimated at USD 30.45 in 2018.

Manufacturing Costs

• Salaries of staff

✓ Maintenance personnel

✓ Manufacturing managers

✓ Materials management staff

✓ Quality control staff

• Utilities

✓ Electricity

✓ Heat (Gas)

✓ Water

• Freight & transportation
• Rent of factory building
• Supplies that are not directly associated with products

Maintenance Costs

• Repair and maintenance costs associated with running all assets continuously for consistent production
• Assets include:

✓ Land

✓ Buildings

✓ Office equipment

✓ Furniture and fixtures

✓ Management software

• The cost associated with performance enhancement or maintaining current performance

Recent Developments

• In September 2016, DuPont announced the launch of DuPont Artistri Xite S1500 dye sublimation ink. This launch will help the company to build its portfolio and to meet the growing needs of the digital textile market. DuPont de Nemours, Inc. is a market leader in manufacturing and sales of specialty materials, chemicals, and agricultural solutions. It operates in the fields of automotive, building and construction, energy, and packaging and printing. The company has 209 manufacturing facilities spread across Asia-Pacific, the EMEA (Europe, Middle East, and Africa), Latin America, the U.S., and Canada.
• Sawgrass group is a pioneer in the dye sublimation and digital ink industry that holds more than 160 patents to-date. The company serves its customers under two major categories —Printers and Inks. The company has an extensive global dealer network that serves more than 100 countries across the competitive markets of North and South America, Europe, Africa, Australia, and Asia.
• In September 2019, Seiko Epson Corporation launched SC-F9400H and the SC-F9400, a 64-inch, dye-sublimation printers. This launch will further help the company to expand its operation into dye sublimation. Epson is primarily engaged in developing, manufacturing, selling, and providing services for products in the printing solutions, visual communications, wearable and industrial products, and the other business. Dye sublimation ink is offered under the printing solutions business segment. The company have 19 domestic companies and 66 overseas companies.
• Mimaki engineering co., ltd is engaged in the development, manufacturing, and sales of computer devices and software Inkjet printer, cutting plotter, laminator, modeling plotter, and 3D printer are some of the products offered under the company’s Umbrella. It is also involved in the manufacturing and supply of related products such as Ink and maintenance liquid, under which the dye sublimation inks are offered. The company has five manufacturing facilities, two development centers along with 18 sales offices that enable the company to serve its customer globally.