Market Research Future (MRFR) has published a Half cooked research report on the “global Digital Ink market” that contains information from 2019 to 2030. The Digital Ink market is estimated to register a CAGR of 7.23% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Digital Ink market— Cabot Corporation, INX International Ink Co., Kornit DigitalMarabu GmbH & Co. KG, Nazdar, Nutec digital Ink, Sensient Imaging Technologies, Siegwerk Druckfarben AG & Co. KgaA, Sun Chemical, Toyo Ink Co., Ltd., and Wikoff Color Corporation.
The global Digital Ink market is accounted for to register a CAGR of 7.23% during the forecast period and is estimated to reach USD 5.12 billion by 2030.
Inkjet printing is quickly becoming the most popular ceramic tile decoration method due to the broad availability of digital printers. DOD-IJP (Drop on Demand Ink-Jet Printing) is gradually becoming the most common technology for customising ceramic tiles. Non-contact decoration, rational ink management, the ability to print textured surfaces and high-quality images, more efficient decoration department management, and greater control on the production line, among other benefits, are driving the rapid and widespread adoption of inkjet printers. As per capita wealth grows and urbanisation extends over the world, the value of ceramic tiles shipped rises. As a result, increased demand for ceramic tile applications serves as a growth engine.
The global Digital Ink market has been segmented based on Formulation, Substrate, Application and Region.
Based on formulation, the global market has been divided into Solvent Based, Water Based, UV Cured, and Others. The Solvent Based segment held the majority share in 2022 contributing to around ~36.82% with respect to the global Digital Ink market revenue.
Digital inks based on solvents serve as pigment transporters to the substrate. These inks also aid in the melting of the substrate's surface. Ink colourants then infiltrate the softened surface to reach the substrate's inner layer. Once the solvent has gone, the pigment is etched into the surface of the substrate, giving in a scratch- and weather-resistant image. Solvent-based digital inks are routinely used with a variety of substrates, including low-cost uncoated media.
Based on Substrate, the global digital ink market has been segmented into Plastics, Textile, Ceramics & Glass, Paper, and Other. The plastics segment is expected to be the market's most significant substrate segment. Plastics are excellent printing substrates due to their strength, resilience, flexibility, durability, and protective qualities. To digitally print on plastics, UV-curable wide-format ink-jet technologies such as digital roll-to-roll and digital cut-sheet are often employed. Plastic substrates used for digital printing include polyester, polycarbonate, rigid vinyl, cast vinyl, and polystyrene acrylic.
Further, Based on the application, the global digital ink market has been segmented into Advertising, Ceramic Tile Printing, Textile, and Others. The Advertising segment held the majority share in 2022 contributing to around ~32%-34% with respect to the global Digital Ink market.
The global Digital Ink market, based on region, has been divided into the North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America consists of US and Canada. The Europe Digital Ink market comprises of Germany, the UK, Russia and the rest of Europe. The Digital Ink market in Asia-Pacific has been segmented into China, Japan, South Korea, and the rest of Asia-Pacific. The Rest of the World Digital Ink market comprises of Middle East, Africa, and Latin America.
Growing demand from the textile industry and increasing demand from the construction industry, are boosting the growth of the North American region.
Asia-Pacific dominates the world market during the forecast period, Asia Pacific is predicted to be the fastest-growing market for digital inks. The rise of the various end-use category is driving the region's need for digital inks for advertising and promotion applications. Rising spending in construction industry is another factor driving the rise of this market in this region.
In Europe, Spain's advertising & publishing sector is one of the most influential in Europe, and it is also well-known abroad. Following the United States, the United Kingdom, and Germany, Spain is the world's fourth-largest advertising & publishing power in terms of both production and turnover. Despite the fact that the great majority publishes fewer than ten volumes each year, the country has over 3000 private capital publishing enterprises. Furthermore, the sectoral structure is dominated by small and medium-sized businesses, which account for more than a quarter of the market.
Key Findings of the Study
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- The global Digital Ink market is expected to reach USD 5.12 billion by 2030, at a CAGR of 7.23% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, growing textile and construction industry is driving the market growth.
- Based on application, The Advertising segment held the majority share in 2022 contributing to around ~32%-34%.
- Cabot Corporation, INX International Ink Co., Kornit DigitalMarabu GmbH & Co. KG, Nazdar, Nutec digital Ink, Sensient Imaging Technologies, Siegwerk Druckfarben AG & Co. KgaA, Sun Chemical, Toyo Ink Co., Ltd., and Wikoff Color Corporation are the key market players.