The digital ink market is expected to grow at a CAGR of less than 6%, globally, during the forecast period. Rising demand for photographs and art prints 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 is expected to hinder the market growth.
Key Market Trends
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 the 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.
- The printing of textiles has been witnessing rapid changes, owing to screen-printing. The use of digital printing is growing quickly and has already become a strong market for major textile applications, such as fast fashion, apparel fabrics, household, and technical textiles.
Asia-Pacific to Dominate the Market Studied
- 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 the Organisation Internationale des Constructeurs d'Automobiles (OICA), although there is a decline in the sales of automobiles, globally, Asia-Pacific is expected to lead the global market sales of automobile in recent years.
- According to the Federmacchine, Asia-Pacific leads the ceramic tiles market around the world. The consumption and the usage of the digital inks in the ceramic tiles and promotions 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.
- 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, has increased digital inks' usage on printed packings.
The digital ink market is fragmented in nature, with many players competing in the market. Some of the major companies are Sun Chemical Corporation, Siegwerk Ltd, Fujifilm Holdings Corporation, Wikoff Color Corporation, and Cabot Corporation, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support