New York, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Growth of the building & construction industry is one of the major drivers estimated to stimulate market demand.
The global ceramic ink market is expected to reach USD 3.10 Billion by 2026, according to a new report by Reports and Data. Growing construction activities in developing countries are expected to drive the market growth, due to rising demand for decorative flooring and better aesthetic appeal of wall tiles. Besides, growth in construction spending in BRICS nation specifically in China and India to cater to the demand of the increasing population, which creates huge requirement for residential and commercial infrastructures are likely to boost the market demand in the forecast period. Several favorable initiatives taken by the governments to develop the public infrastructure will boost the product demand in the construction industry. Moreover, a rise in the level of disposable income and spending power of consumers for decorative wall tiles and flooring is likely to escalate the global product demand.
Additionally, continuing growth and urbanization in the Middle East and Latin America regions is one of the significant factors, which is expected to propel the growth of the market in the upcoming years.
The increasing substitution of analog printing technology with digital printing technology, due to its various benefits such as customization, higher mass production, reduced price, eco-friendliness, coupled with striking changes to design. The rising number of players in the market are now in the process of developing inks that are specially made for digital printing technology, to cater to the surging demand for digital printing technology, thereby playing an instrumental role in driving the market growth.
Availability of substitute products and the high cost associated with printing setup may hamper the market growth in the forecast period.
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Further key findings from the report suggest
- By product type, decorative inks contributed to a major market share in 2018 and are likely to grow at a rate of 6.7% in the forecast period, owing to its increasing demand for wall tiles and flooring by the building & construction sector.
- By printing technology, digital technology is expected to grow at the fastest rate in the forecast period. The rapid growth of decorative inks sub-segment is owing to the rising demand for decorated ceramic tiles from the construction industry worldwide.
- By formulation, oil-based inks led the market in 2018 and are projected to witness a growth rate of 6.4% in the forecast period.
- The Asia Pacific region dominated the market in 2018, due to the increased investments in the building and construction industry in countries such as China and India.
- Key participants include Xennia Technology, Imak, Dip-Tech, Arrow Systems Ink, Electronics for Imaging Inc., Six Stars Ceramic Inks Ltd., Unico Digital SA, Fritta SL, Ferro Corporation, Torrecid, and Vaanix Industries Pvt. Ltd., among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global ceramic inks market on the basis of product type, printing technology, formulation, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Functional Inks
- Decorative Inks
Printing Technology Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Digital Printing
- Analog Printing
Formulation Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Solvent-Based
- Water-Based
- Oil-Based
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Building & Construction
- Automotive
- Food & beverage
- Others
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Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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