Digital Printing Ink Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Digital Printing Ink Market
The digital printing ink market size was valued at USD 3.21 billion in 2022, and the market is now projected to grow from USD 3.43 billion in 2023 to USD 5.54 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period of 2023-2030.
The lockdown and disruptions in supply chains and workforce highly affected the digital printing inks market during the COVID-19 pandemic. These challenges led to scarcity of raw matters and shut down of manufacturing factories leading to low production capability. Further, decline in demand from the printing and packaging segment also weighed on market growth. In sum, the pandemic conditions were unfavorable to the digital printing inks industry.
The market trends are mainly derived through the rising the demand for digital printing inks across all the product application areas such as textiles, packaging, advertisement, and publishing. These benefits include quality production, time and again, and above all the feature that it allows for print customization which is seen as a driving force in the growing demand. This has in turn enhanced the utilization of digital printing and in the process opened a large market for digital printing inks and thus expanding the market.
One noteworthy feature of the market for printing inks is that the process is experiencing growing environ mentalization, with more attention being places on the development of environmentally friendly inks. The buyers are putting effort in acquiring environmentally friendly inks with little or no VOC emission and ink that can be easily recycled. Also, the new digital printing processes, the advancement in new print technologies are beneficial for the market as customer demands inks that generate high quality of prints on different types of substrates which can be produced very soon. The growth of UV-cured inks, which cure quickly, have high durability, and are low in VOCs also adds to the growth experienced by digital printing.
Comprehensive Analysis of Digital Printing Ink Market
The digital printing ink market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis incudes solvent-based, water-based, UV-based, and others. By application analysis incudes textile, ceramics, packaging & labels, print media, and others.
The North America region lead the digital printing ink market share by benefitting a market size of USD 1.03 billion in 2022 due to growing adoption of new technology.
Top players in the market have their responsibility of chemicals & advanced materials industrial prospectus growth of the retailing industry and the markets. These players include, Sun Chemical, Siegwerk Druckfarben AG & Co. KGaA, INX International Ink Co., Nazdar, DuPont, Marabu GmbH & Co.KG, NUtec Digital Ink (Pty) Ltd. these market players provide a level-playing competitive landscape.
In June 2023, Sun Chemical Company launched the Xennia Amethyst Evo RC reactive printing ink for digital textile printing, enhancing strength and color efficiency.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 7.1% from 2023 to 2030
Unit Value (USD Billion), Volume (Thousand Ton)
Segmentation By Type
Solvent-based
Water-based
UV-based
Others
By Application
Textile
Ceramics
Packaging & Labels
Print Media
Others
By Geography
North America (By Type, Application, and Country)
U.S. (By Application)
Canada (By Application)
Europe (By Type, Application, and Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Rest of Europe (By Application)
Asia Pacific (By Type, Application, and Country)
China (By Application)
Japan (By Application)
India (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Type, Application, and Country)
Mexico (By Application)
Brazil (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Type, Application, and Country)
GCC (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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