|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The digital ink market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
Due to the COVID-19 impact in the first half of 2020, various manufacturing plants have been shut down, and the demand for digital printing inks has declined. For instance, in Europe, the textiles, apparel, and fashion industry took a huge hit, and the production fell around 26% in the period between April-June 2020 compared to the same period of the previous year. However, the digital printing companies have taken this COVID-19 crisis as an opportunity to innovate their existing business by offering digital products and services to continue business in today’s turbulent times. Thus, a slowdown or disruption in the various manufacturing and industrial activities due to this deadly disease had a short-term impact on the market studied during the forecast period. Rising demand for high-quality graphic material is driving the market growth.
- The higher cost of inks with less-durable properties and the availability of fewer material options are expected to hinder the market growth.
- Over the long term, the increasing demand for indoor and outdoor displays will drive the market.
- The Asia-Pacific region is expected to witness rapid growth, with the largest consumption from countries such as China, Japan, and India.
Scope of the Report
The digital ink market is segmented by type water-based inks, oil-based inks, solvent-based inks, UV curing inks, and other types. The market is segmented by application into automotive and technical markings, construction, packaging, promotional materials, textiles, and other applications. The report also covers the market size of and forecasts for the digital ink market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|UV Curing Inks|
|Automotive and Technical Markings|
Key Market Trends
Growing Demand from the Textile and Construction Industries
- Digital inks have been used to make an impression of interior architectural design through indoor signage and display systems. Designed custom walls and floor graphics can add spectacular imagery and color to interiors.
- Demand from different sectors, like service, commercial buildings, and offices, is augmenting the usage of digital inks for reception and directional signs navigation purposes.
- Ceramic inkjet printing processes have radically changed the manufacturing process of decorated tiles. Consumers are being attracted to customized ceramic tiles for complex, realistic marble images with different patterns for residential applications.
- Asia-Pacific is the main hub for the global textile industry. Asia is expected to remain the global textile manufacturing hub in the next five years, led by countries like China, India, Bangladesh, Vietnam, Pakistan, Sri Lanka, and Indonesia. China and India are the top two textile industries in the world.
- Due to the above-mentioned factors, the market for digital printing inks in the segments studied is expected to increase during the forecast period.
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Asia-Pacific to Witness Rapid Growth in the Market Studied
- The demand in Asia-Pacific for digital inks has been growing rapidly in recent times. Sectors, such as automotive, textiles, glass, and ceramic tiles, have started adopting digital inks for decorative, signages, and packaging purposes.
- Companies are using vehicle wraps and graphics on their vehicles for self-marketing purposes to grab consumers' attention. Additionally, these vehicle wraps protect automobiles from scratches and dents during minor accidents.
- According to Federmacchine, Asia-Pacific leads the ceramic tiles market around the world. The consumption and the usage of digital inks in ceramic tiles and promotional materials in China are the highest in the region, followed by India.
- Recently, in the packaging sector, manufacturers prefer the usage of printed packages because of the flexibility of digital inks.
- The Indian textiles sector is one of the oldest in the Indian economy. The production of raw cotton reached 35.4 million bales for the fiscal year 2020. The foreign direct investments for textiles in India stood at 3.46 billion USD between April to September of 2020.
- According to the National Bureau of Statistics of China, the construction output value in the country increased from CNY 9.6 trillion in 2010 to CNY 24.84 trillion in 2019.
- China, Korea, Japan, and India from Asia-Pacific have a various number of plastic packaging manufacturing units. The increasing domestic demand for processed foods and the growing export demand, majorly from other countries in the region, increased digital inks usage on printed packings.
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The digital ink market is fragmented in nature, with many players competing in the market. Some of the major companies are Wikoff Color Corporation, Sun Chemical, Siegwerk Druckfarben AG & Co. KGaA, Cabot Corporation, and FUJIFILM Corporation.
In October 2020, Flint Group acquired Poteet Printing Systems LLC, an ink production company based in North Carolina, United States.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand for Indoor and Outdoor Displays
4.1.2 Growing Application for Digital Inks from Ceramic Tiles and Textiles
4.2.1 Associated Costs and Durability Issues
4.2.2 Unfavorable Conditions Arising Due to COVID-19
4.2.3 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Water-based Inks
5.1.2 Oil-based Inks
5.1.3 Solvent-based Inks
5.1.4 UV Curing Inks
5.1.5 Other Types
5.2 By Application
5.2.1 Automotive and Technical Markings
5.2.4 Promotional Materials
5.2.6 Other Applications
5.3 By Geography
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Sun Chemical Corporation
6.4.2 Siegwerk Druckfarben AG & Co. KGaA
6.4.3 INX International Ink Co.
6.4.4 Flint Group
6.4.5 Wikoff Color Corporation
6.4.6 Marabu GmbH & Co. KG
6.4.7 TOYO INK SC HOLDINGS CO. LTD
6.4.9 FUJIFILM Corporation
6.4.10 Cabot Corporation
6.4.11 NUtec Digital Ink (Pty) Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Graphics
7.2 Other Opportunities
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Frequently Asked Questions
What is the study period of this market?
The Digital Ink Market market is studied from 2016 - 2026.
What is the growth rate of Digital Ink Market?
The Digital Ink Market is growing at a CAGR of >6% over the next 5 years.
Which region has highest growth rate in Digital Ink Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Digital Ink Market?
Europe holds highest share in 2020.
Who are the key players in Digital Ink Market?
Wikoff Color Corporation, Sun Chemical, Siegwerk Druckfarben AG & Co. KGaA, Cabot Corporation, FUJIFILM Corporation are the major companies operating in Digital Ink Market.