Overview and Scope
Digital ink refers to a form of technology that allows handwriting and drawings to be added to papers electronically and viewed on a monitor screen. A digital ink system employs a special digital pen or stylus to capture what is scribbled on digital paper electronically. These inks combine a water-based solvent with UV ink technology.
Sizing and Forecast
The digital inks market size has grown strongly in recent years. It will grow from $3.25 billion in 2023 to $3.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to adoption of uv-curable inks, global economic trends, increased graphic arts usage, packaging industry demand, textile and apparel printing.
The digital inks market size is expected to see strong growth in the next few years. It will grow to $4.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to regulatory developments, global economic conditions, increasing digital printing demand, expanded application scope, customization and personalization.. Major trends in the forecast period include advancements in inkjet technology, expanded digital printing applications, diversification of ink formulations, sustainability and eco-friendly inks, quality and performance enhancement..
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Segmentation & Regional Insights
The digital inks market covered in this report is segmented –
1) By Formulation: Solvent-based, Water-based, UV-cured, Other Formulations
2) By Substrate: Plastics, Textile, Ceramics & Glass, Paper
3) By Technology Type: Electrography, Ink-Jet
4) By Application: Advertising & Promotion, Ceramic Tiles Printing, Clothing & Household Textiles, Packaging, Publication, Glass Printing, Others Applications
Asia-Pacific was the largest region in the digital ink market share in 2023 and expected to be the fastest-growing region in the forecast period. The regions covered in the digital inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for the ceramic tiles industry is expected to propel the growth of the digital ink market going forward. A ceramic is an inorganic non-metallic solid consisting of either metal or non-metal compounds that have been formed and then hardened by heating to high temperatures. Ceramic decorators use digital printing inks to print in small batches, save inventory costs, and successfully meet the shifting needs of the ceramic inks industry. For instance, In November 2021, according to a report published by MECS Study Centre, the production of ceramic tiles is expected to grow by 918 mIN m2 in 2025. Additionally, the consumption of ceramic tiles is expected to grow by 1266 mIN m2 in 2025. Furthermore, according to an article published by Floor Covering News, a US-based company specializing in publishing content in the retail floor covering chain, the sales of ceramics increased by 8.2% to $3.077 billion in 2021 in the US. Therefore, the increase in demand for the ceramic tiles industry is driving the growth of the digital ink market.
Key Industry Players
Major companies operating in the digital inks market report are Sun Chemical Corp., AM Printex, Cabot Corporation, DuPont Inc., Flint Group, FUJIFILM Holdings America Corporation, Independent Ink Inc., INKCID, INX International Ink, Itaca Group, JK Group Spa, Marabu GmbH & Co. KG, Navratan LLP, Nazdar Inks & Coatings Inc., NUtec Digital Ink (Pty) Ltd., Sensient Technologies Corporation, Siegwerk Druckfarben, Toyo Ink SC Holdings Co., Wikoff Color Corporation, Bordeaux Digital PrintInk Ltd., Brother Industries Ltd., Canon Inc., Colorjet India Ltd., Hongsam Digital Science & Technology Co. Ltd., HP Inc., Inktec Co. Ltd., INX International Ink Co., JK Agri Genetics Ltd., Mimaki Engineering Co. Ltd., Nuova GIDUE S.r.l., Ricoh Company Ltd., Roland DG Corporation, Seiko Epson Corporation
The digital inks market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The global Digital Inks market is forecast to reach USD 4.77 Billion by 2026, according to a new report by Reports and Data.
The increasing demand from the textile industries across the globe will fuel the growth of the market.
Digital printers provide cleaner finish and use less space than conventional printing, thus allowing the use of unlimited color combinations.
The medical textile industry in the region has been improving the existing products, creating new ones with new materials, and innovating designs.
Some of these new products are being designed for less invasive surgical procedures, infection control, and accelerated healing.Further key findings from the report suggestThe inkjet inks are anticipated to witness a higher CAGR of 8.5% during the forecast period, owing to its outstanding image quality, particularly with color photos, as the ink technology uses thousands of ink droplets shot onto the paper.
The Asia Pacific region held the largest market share of ~31% in the year 2018, owing to the substantial investments in research and development of printing technologies.
Thus, the burgeoning requirement for packaged consumer goods, on account of the surging disposable income of people, mushrooming population of young people, and the soaring gross domestic product (GDP) of several countries, is driving the worldwide demand for digital inks.
For instance, in India, the packaged food industry is predicted to double in value and generate a revenue of $70 billion by 2025.Moreover, the ballooning usage of digital inks in tags and labels, flexible materials, and metal cans is further boosting their demand.
UV-cured inks offer several benefits such as high curing speed, enhanced durability, and optimum print quality.
These inks with flexible ink films provide improved resistance to scratches and wear and tear and produce minimum volatile organic compound (VOC) emissions.Furthermore, these inks are heavily used in several kinds of absorbents and surfaces, which, in turn, increases their requirement in flexible and inflexible print substrates.
Additionally, these inks last longer, cause negligible ozone generation, generate low heat, and consume less energy.
As a result, they are increasingly being adopted in multiple sectors such as food and pharmaceutical packaging and printing and publication.
