The printers are getting faster, better and cheaper
The vast global printing industry has immense scope for development in the ink segment. Guy Gecht, CEO of EFI talks about the global printing industry and the expectations of the company from this industry with Fibre2Fashion.com
What is the size of the global printing machinery industry? How much of it is claimed by the textile sector?
It is not easy to estimate that but let's look at the total value of printed material across all industries. It is estimated to be about one trillion US dollars, out of which textiles is about US$ 150 billion. So, it is about 15 per cent of total value. Of course, each industry is at a different stage of digital takeover from traditional equipment. In textiles, we are early in this transformation.
What percentage of your total revenue comes from the textile niche?
As a publicly traded company, EFI follows established reporting guidelines. So I can only disclose the percentage of our total industrial inkjet segment, which is about 60 per cent of the EFI revenue. We are predicting total EFI revenues to reach US$ 1 billion in 2016. The biggest part of our inkjet segment is the Vutek brand, which prints on what we call display graphics and includes signage, decorations and special high-quality printing on almost any material. Reggiani brand is our second-largest brand and the one actually growing the fastest, given the growing demand from around the world. The rest of EFI's business comes from our Fiery Color Management and business automation software we provide to customers to make them more productive.
What are the latest technological innovations taking place in the digital printing machinery industry?
There are so many! First of all, the printers are getting faster, better and cheaper, which is a great thing for the market. For example, we showed our Reggiani Next platform at ITMA for the first time, which is a great platform at a new price level for our premium Reggiani technology. Another area which is promising for technical innovation is ink, which has the ability to get better and print on more types of fabric. With a Silicon Valley-based company such as EFI getting deeply involved in textiles, the market is going to see a very meaningful innovation in software applications, helping colour to be accurate and improving efficiency in the printing process to save customers time and money. There is no doubt that this is an exciting time for innovation in the textile industry.