New York (US), June 21, 2023 (GLOBE NEWSWIRE) -- Digital Ink Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR) “Digital Ink Market Research Report Information By Formulation, By Substrate, By Application And By Region - Forecast Till 2030” The global digital ink market will touch USD 5.12 billion at a 7.23% CAGR by 2030, as per the recent Market Research Future report.
Inkjet printing is quickly becoming the most popular ceramic tile decoration method due to the broad availability of digital printers. DOD-IJP (Drop on Demand Ink-Jet Printing) is gradually becoming the most common technology for customising ceramic tiles. Non-contact decoration, rational ink management, the ability to print textured surfaces and high-quality images, more efficient decoration department management, and greater control on the production line, among other benefits, are driving the rapid and widespread adoption of inkjet printers. As per capita wealth grows and urbanisation extends over the world, the value of ceramic tiles shipped rises. As a result, increased demand for ceramic tile applications serves as a growth engine.
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Market Competitive Landscape:
- Cabot Corporation
- INX International Ink Co.
- Kornit DigitalMarabu GmbH & Co. KG
- Nazdar, Nutec digital Ink
- Sensient Imaging Technologies
- Siegwerk Druckfarben AG & Co. KgaA
- Sun Chemical
- Toyo Ink Co., Ltd.
- Wikoff Color Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.12 billion |
| CAGR | 7.23% (2023-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Process, Method, Product, End-User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America and Middle East Africa |
| Key Market Drivers | Growing demand from the textile industry Increasing demand from the construction industry |
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COVID-19 Analysis
There was a rise in remote employment, online learning, and virtual meetings as lockdowns & social seclusion measures were put into place. This increased demand for digital gadgets that employ digital ink, including tablets, e-readers, & digital pens. Businesses and people have resorted to electronic signature and digital documents for contracts, agreements, and paperwork since actual contacts have become increasingly rare. Digital document signature and annotation were made possible thanks to digital ink technology. For many professions, including designers, architects, & those in the creative industries, remote work has become the standard. By allowing real-time annotation, sketching, & drawing on the shared digital documents/virtual whiteboards, digital ink technology promoted collaborative work. Contactless or touch-less interfaces have received more attention as a result of worries about surface contamination and virus transmission. The usage of digital ink technology that enables people to interact with gadgets without having to physically touch them, has grown in importance and popularity.
Drivers
Booming Textile Industry to Boost Market Growth
Digital printing technologies are being adopted by the textile industry more often for textile production and fabric embellishment. High color accuracy, intricate patterns, and quick manufacturing times are benefits of digital inks. The market for digital inks is anticipated to expand in step with the rising demand for personalized textiles, such as soft signs, home textiles, and clothing.
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Opportunities
Shift towards Eco-Friendly Inks to offer Robust Opportunities
The printing industry has witnessed an increase in demand for eco-friendly inks due to rising environmental concerns and legislation. Digital inks have less of an influence on the environment and emit less volatile organic compounds (VOCs) than solvent-based inks, especially water-based and UV-curable inks. As sustainability becomes more important to both organizations and consumers, the need for eco-friendly digital inks will also increase.
Restraints and Challenges
High Initial Investment to act as Market Restraint
The high initial investment, environmental regulations, competition from conventional inks, and limited substrate compatibility may act as market restraints over the forecast period.
Market Segmentation
The global digital ink market is bifurcated based on formulation, substrate, and application.
By formulation, solvent based will lead the market over the forecast period. Digital inks made of solvent serve as carriers for pigment on the substrate. These inks also aid in melting the substrate's surface. Then, ink colorants penetrate the softer surface to get to the substrate's inner layer. After the solvent has evaporated, pigment is etched to the substrate's surface, creating an image that is scratch-and weather-resistant. Digital inks with solvent bases are frequently used with a variety of substrates, including cheap uncoated media.
By substrate, plastics will domineer the market over the forecast period. Due to their resilience, strength, flexibility, durability, & protective characteristics, plastics make good printing substrates. Wide-format UV-curable ink-jet printing techniques like digital roll-to-roll & digital cut-sheet are frequently used to print digitally on plastics. Polyester, rigid vinyl, polycarbonate, cast vinyl, & polystyrene acrylic are some examples of plastic substrates used for digital printing.
By application, advertising will spearhead the market over the forecast period. The market's largest section is projected to be the advertising application sector. Wide-format digitally printed graphics are used in the restaurant & food service sectors to boost sales and promote consumer awareness of food products. The financial services sector increases operations and sales by using digitally printed promotional materials.
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Regional Analysis
APAC to Command Digital Ink Market
Asia-Pacific currently controls the global market and will see the quickest rate of growth for digital inks throughout the projected period. The region's requirement for digital inks both for advertising & promotion applications is being driven by the expansion of numerous end-use categories. Another factor fueling the expansion of this market within this area is rising expenditure in the building industry. The region with the utmost market share is expected to remain dominant during the research period. This is for the expansion of the local customer base. A sizable electronics manufacturing base is present throughout Asia and the Pacific. Additionally, the Asia-Pacific commercial refrigeration market is seeing profitable development possibilities because of the rise in disposable income that is driving up demand for digital ink.
Rising construction spending is another element promoting the growth of this sector in the area. Due to the rising demand for digital inks from a variety of end-user industries, increased R&D efforts, favorable investment policies by the government to support industrial growth, high economic growth in emerging nations, increasing advertising and promotion, surging rate of ceramic tile printing, & other applications, plentiful availability of raw materials, and rising investments, the Asia-Pacific region currently holds a dominant position in the global digital ink market.
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