Inkjet Inks Market to See High Growth in Upcoming Year by 2029
The global inkjet inks market size is set to swell in the upcoming years owing to the emergence of startups specializing in the development of innovative printing solutions, observes Fortune Business Insights™ in its report, The demand for high-quality inks is escalating worldwide as a result of the huge investments made in the diverse domains of advertising, packaging, pharmaceuticals, and food processing. To meet these requirements, several startups have come up, offering novel inks and other printing technologies. For example, US-based C3Nano develops conductive inks and films using the Nanoglue technology and its inks can be applied in various applications such as e-papers, smart windows, solar cells, and touch windows. The company has collaborated with Hitachi Chemicals and Nissha Printing. Another example is an Israel-based startup called Landa Digital Printing has set up Nanographic Printing presses that facilitate the use of digital printing technologies for mainstream applications. The spawning of such startups in the past couple of decades has been an enriching development for the inkjet inks market.
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The Report Addresses the Following Questions:
- What are the key factors shaping the size, share, and overall growth trajectory of the market?
- What are the major challenges facing the market?
- How have the market segments been analyzed?
- Which regions are presenting the most lucrative prospects for the market?
- Who are the top market players and what are their predominant strategies?
Development of Eco-friendly Inks to Open New Vistas for the Market
The throwing away of toner cartridges that contain old ink can have detrimental effects on the environment as these inks contain volatile organic compounds (VOCs) and heavy metals that pollute soils and water bodies. According to the European Commission, offset printing consumes nearly three million tons of fossil fuel-based inks chemicals every year. As a result, there is a growing preference for eco-friendly inks that have been derived from natural sources, devoid of chemicals and are, thus, biodegradable. For example, a study conducted by researchers from the Calcutta University in India in 2015 found that inks produced from rice bran oil and palm oil led to better results in terms of the ink’s chemical stability and print quality compared to regular hydrocarbon-based inks. Similarly, inks made from soybeans have been found to deliver richer and more accurate colors compared to petroleum-based ink. Thus, inks extracted from vegetable oils have shown enormous potential in terms of applicability and versatility, with the added benefit that they are likely to cause minimal damage to the environment.
Asia Pacific to Sit at the Apex Position; North America & Europe to Exhibit Decent Growth
Geographically, Asia Pacific is expected to dominate the inkjet inks market share in the coming years on account of the rapid expansion of the packaging industry in India and China. Moreover, economic development is encouraging businesses to adopt next-gen printing technologies, which is generating a wide array of opportunities for market players in the region. In North America and Europe, on the other hand, early adoption of advanced printing techniques such as laser printing will ensure stable growth of the market in these regions.
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Exciting New Product Releases by Key Players to Energize the Market
Key players are constantly developing and launching new and exciting products to stay ahead of the curve in the competitive landscape of this market. This is leading to increasing investments in research & development activities by the top companies in the market, which is also enabling them to widen their offerings to customers.
- October 2020: US-based Chromatic Technologies Inc. (CTI) introduced its glow-in-the-dark water-based inks for food & beverage packaging applications. CTI’s water-based inks are easy to print and have shown to be at par with their solvent or UV ink counterparts.
- October 2020: Fujifilm announced the successful testing of Finishfit Microbe Protect 2400 dispersion varnish for its digital inkjet press, Jet Press. Embedded with a nanosilver active ingredient, the water-based gloss varnish reduces the presence of bacteria and viruses.
List of Key Players Covered in the Inkjet Inks Market Report:
- Marabu Printing Inks
- Edge Colours
- Mylan Group
- INX International
- Shenzhen Groundson Ink Technology
- Sun Chemical
- TOYO INK Corporate
- Kao Collins
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