Digital Ink Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Digital Ink Market Analysis
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.
Digital Ink Market Trends
This section covers the major market trends shaping the Digital Ink Market according to our research experts:
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.
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.
Digital Ink Industry Overview
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.
Digital Ink Market Leaders
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Wikoff Color Corporation
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Sun Chemical
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Siegwerk Druckfarben AG & Co. KGaA
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Cabot Corporation
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FUJIFILM Corporation
*Disclaimer: Major Players sorted in no particular order
Digital Ink Market News
In October 2020, Flint Group acquired Poteet Printing Systems LLC, an ink production company based in North Carolina, United States.
Digital Ink Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Demand for Indoor and Outdoor Displays
- 4.1.2 Growing Application for Digital Inks from Ceramic Tiles and Textiles
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4.2 Restraints
- 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
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5.2 By Application
- 5.2.1 Automotive and Technical Markings
- 5.2.2 Construction
- 5.2.3 Packaging
- 5.2.4 Promotional Materials
- 5.2.5 Textiles
- 5.2.6 Other Applications
-
5.3 By Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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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
- 6.4.8 Nazdar
- 6.4.9 FUJIFILM Corporation
- 6.4.10 Cabot Corporation
- 6.4.11 NUtec Digital Ink (Pty) Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Demand for Graphics
- 7.2 Other Opportunities
Digital Ink Industry Segmentation
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).
| By Type | Water-based Inks | |
| Oil-based Inks | ||
| Solvent-based Inks | ||
| UV Curing Inks | ||
| Other Types | ||
| By Application | Automotive and Technical Markings | |
| Construction | ||
| Packaging | ||
| Promotional Materials | ||
| Textiles | ||
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Digital Ink Market Research FAQs
What is the current Digital Ink Market size?
The Digital Ink Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Digital Ink Market?
Wikoff Color Corporation, Sun Chemical, Siegwerk Druckfarben AG & Co. KGaA, Cabot Corporation and FUJIFILM Corporation are the major companies operating in the Digital Ink Market.
Which is the fastest growing region in Digital Ink Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Digital Ink Market?
In 2024, the Europe accounts for the largest market share in Digital Ink Market.
What years does this Digital Ink Market cover?
The report covers the Digital Ink Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Digital Ink Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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