A recent study by Triton Market Research titled ‘Global Digital Inks Market’ entails the Global Analysis and Forecasts by Technology Type (Ink-Jet, Electrography), Substrate (Textile, Plastics, Ceramic & Glass, Others), Application (Publication [Books, Newspapers, Periodicals, Others], Commercial Printing, Textile, Packaging [Rigid Containers, Labels, Retail Bags and Sacks, Flexible Packaging], Industrial Printing, Office Printing, Others), Ink Type (Water-Based Ink [Pigment Ink, Dye Ink], UV Ink [Rigid UV Ink, Universal UV Ink, Flexible UV Ink], Digital Textile Ink [Textile Pigment Ink, Sublimation Ink, Reactive Ink, Disperse Ink, Acid Ink], Packaging Ink [Soft Packaging Ink, Label Ink, Other Packaging Inks], Solvent Ink [Eco Solvent Ink, Other Solvent Ink], Others [Glass Ink, Circuit Board Ink, Ceramic Ink, Desktop Ink]), and by Geography (Asia-Pacific, North America, Middle East and Africa, Latin America, Europe).
Digital inks are used for various applications, such as commercial printing, packaging, publication, and others. These inks are used based on ink-jet or electrography, with ink-jet gaining significant traction in creating graphics on ceramic tiles.
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Triton’s research report denotes that the global digital inks market is estimated to develop at a CAGR of 6.05% in revenue, and 5.17% in volume, during the forecasting years 2021-2028. It is further likely to garner revenue worth $6010.28 million by 2028.
Several textile printing methods, including direct print, discharge print, pigment print, and specialty print, have evolved to meet the growing demand by consumers. The development of a dye-sublimation printer has made it possible to print with low-energy sublimation inks and high-energy disperse inks. Hence, the development of various types of printing methods supports the growth of the digital inks market. However, the rise in e-books has led to the downfall of printing in the publishing sector, which is a key factor impeding the digital inks market’s expansion.
The digital inks market is broadly divided into technology type, substrate, application, and ink type. The technology type segment is sectioned into ink-jet and electrography. Similarly, substrate is segmented into textile, plastics, ceramic & glass, and others. Further, based on application, it is categorized into publication, commercial printing, textile, packaging, industrial printing, office printing, and others. Here, publication is further divided into books, newspapers, periodicals, and others. While packaging section is subdivided into rigid containers, labels, retail bags and sacks, and flexible packaging.
Additionally, ink type is branched into water-based ink, UV ink, digital textile ink, packaging ink, solvent ink, and others. All these segments are categorized further, with waster-base ink bifurcated into pigment ink and dye ink. In terms of UV ink, the division is as per rigid UV ink, universal UV ink, and flexible UV ink. Likewise, digital textile ink is sectioned into textile pigment ink, sublimation ink, reactive ink, disperse ink, and acid ink. The packaging ink is trifurcated into soft packaging ink, label ink, and other packaging inks. Further, solvent ink includes eco-solvent ink and other solvent ink. Lastly, the other segment is divided into glass ink, circuit board ink, ceramic ink, and desktop ink.
Globally, North America is anticipated to become the fastest-evolving region in the digital inks market. Canada is observing rapid growth in its retail and foodservice sector, in addition to the growing demand for flexible packaging. The processed food produced in the country is exported to several countries, including Japan, Mexico, and the US. This has surged the export value of processed foods, increasing the demand for flexible packaging. With the rise in flexible packaging, the need for digital printing also increases to enhance the packaging value. Therefore, the growing flexible packaging sector supports the growth of the digital inks market in Canada, which, in turn, contributes to the development of the North American market.
Zhuhai Print-Rite New Materials Corporation Limited (Pmz), Redgaint Inc (Inkrang), Alphachem Co Ltd (Inkmate), Toyo Ink Sc Holdings Co Ltd, Encres Dubuit, DIC Corporation, AGFA-Gevaert Nv (AGFA), Sakata Inx Corporation, Wikoff Color Corporation, Flint Group, Dupont, Inktec, Dover Corporation, Marabu GmbH & Co KG, and Nazdar Ink Technologies are major competitors in the digital inks market.
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Question & Answer: Digital Inks Market
Question 1: What major factors support the growth of the digital inks market?
Answer: Several textile printing methods, including direct print, discharge print, pigment print, and specialty print, have evolved to meet the growing demand by consumers. The development of a dye-sublimation printer has made it possible to print with low-energy sublimation inks and high-energy disperse inks. Hence, the development of various types of printing methods supports the growth of the digital inks market.
Question 2: What is a key factor impeding the digital inks market’s expansion?
Answer: The rise in e-books has led to the downfall of printing in the publishing sector, which is a key factor impeding the digital inks market’s expansion.
Question 3: Which region is anticipated to become the fastest evolving in the digital inks market?
Answer: Globally, North America is anticipated to become the fastest-evolving region in the digital inks market. Canada is observing rapid growth in its retail and foodservice sector, in addition to the growing demand for flexible packaging. The processed food produced in the country is exported to several countries, including Japan, Mexico, and the US. This has surged the export value of processed foods, increasing the demand for flexible packaging. With the rise in flexible packaging, the need for digital printing also increases to enhance the packaging value. Therefore, the growing flexible packaging sector supports the growth of the digital inks market in Canada, which, in turn, contributes to the development of the North American market.
Question 4: Which are the major competitors in the digital inks market?
Answer: Zhuhai Print-Rite New Materials Corporation Limited (Pmz), Redgaint Inc (Inkrang), Alphachem Co Ltd (Inkmate), Toyo Ink Sc Holdings Co Ltd, Encres Dubuit, DIC Corporation, AGFA-Gevaert Nv (AGFA), Sakata Inx Corporation, Wikoff Color Corporation, Flint Group, Dupont, Inktec, Dover Corporation, Marabu GmbH & Co KG, and Nazdar Ink Technologies are major competitors in the digital inks market.
Related Report:
The global 3D printing market is likely to progress at a CAGR of 16.54% during the forecast period of 2019-2027.
Revolutionary technologies like 3D printing hold the potential to transform operations across various sectors, from business to manufacturing. This technology bridges the gap between the physical and digital world.
The ability of 3D printing to give better results than conventional production methods, along with enhancing efficiencies in manufacturing, is driving the growth of the reviewed market over the forecast period. Besides, the growing adoption of 3D printing solutions in the healthcare industry has opened new avenues for the market to leverage to reach its expected growth.
However, shortage of skilled labor and elevated cost of implementation are key factors impeding the 3D printing market’s growth over the examined phase.
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