The need for Digital Textile Printing Inks is guided by demand from applications and consumer-specific formulations, such as magazines, industrial publishing, corrugated cardboard, packaging, and others, combined with consumer-specific needs, such as eco-friendly solutions, have contributed to a growing global ink industry.
The global Digital Textile Printing Inks Market is forecast to reach USD 28.15 Billion by 2027, according to a new report by Reports and Data. Increasing demand through various applications like flexible packaging labeling, corrugated cardboard, modern letterpress, and folding cartons are the crucial factors expected to propel the market over the forecast period. Increased consumer expenditure in the Asia Pacific and North American areas, increased demand for flexible packaging of exceptional quality are some of the critical parameters that affect the demand for Digital Textile Printing Inks across the globe. Technology developments, technical changes, modern raw material procurement structures, and growth approaches are some of the big drifts centered on by the businesses to address different market needs. The latest developments this sector has seen include the growing value of flexographic and wireless toners, food-safe Digital Textile Printing Inks, and a change in market preference towards environment-friendly goods.
Digital Textile Printing Inks include pigments or colorants that are used to make a picture, text, or design. They are employed in the advertising, labeling, and marketing sectors and are utilized in various printing methods, including flexography, lithography, optical printing, and gravure. Over the forecast period, the demand for eco-friendly inks is projected to rise. The creation of innovative printing technologies such as inkjets and UV-curable inks often provides significant prospects for growth by developing new business avenues. Growing competition for environmentally friendly inks is one of the market's main factors. Increasing environmental issues are driving policymakers to change printing industry standards. The need for oil-based and biodegradable inks on vegetables is rising. Vegetable oil-based and biodegradable inks limit or remove the usage of mineral oils in the inks, maintain non-renewable supplies, and mitigate VOC pollution. The primary benefit of eco-friendly inks is increased paper recyclability because it enables effective ink isolation from paper. However, raising awareness of the presence of e-books and stringent government environmental legislation on ink production is restricting market growth in the Digital Textile Printing Inks. The emission of VOC and toxic metals found in individual printing solution inks often hampers the development of the industry.
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Top Companies: Siegwerk Druckfarben AG Co. KGaA, Sakata Inx Corporation, Wikoff Color Corporation, Flint Group, Sun Chemicals, DIC Corporation, Altana Epple Druckfarben, MHM Holding GmbH, Tokyo Printing Ink Mfg. Co. Ltd., and Koninklijke Drukinktfabrieken Van Son B.V., among others.
Further key findings from the report suggest
- Based on the resin, acrylic generated a revenue of USD 4.34 billion in 2019 and believed to rise with a CAGR of 5.0% in the forecast period because of its quicker recovery properties, flexibility, and cost-effective design.
- The flexographic product expected to grow with a CAGR of 4.7% in the forecasted period due to the increased usage of rotogravure and digital solutions in the growing packaging industry, including corrugated cardboard and folding cartons.
- The packaging and labeling application is the major contributor to the Digital Textile Printing Inks Market. The packaging and labeling sectors of the Asia Pacific region are the major shareholder of the market and held around 42.1% of the market in the year 2019, due to the increasing middle-class population in developing nations such as India and Thailand, a change in customer demand for the convenience of packaged foods online retailing with widespread broadband penetration and biodegradable commodity requirements.
- The Asia Pacific dominated the market for Digital Textile Printing Inks in 2019, attributable to the advancements in technological ink printing and growth in the various end-use applications coupled with the rising demand for inks. Asia Pacific region held approximately 38.9% of the market, followed by Europe, which contains around 25.3% market in the year 2019.
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Market Segmentation:
Resin Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Modified Rosin
- Modified Cellulose
- Acrylic
- Polyurethane
- Others
Product Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)
- Gravure
- Flexographic
- Lithographic
- Digital
- Others
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Packaging Labels
- Corrugated Cardboards
- Publication Commercial Printing
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Digital Textile Printing Inks market report:
- What is the expected market size of the global Digital Textile Printing Inks market during the forecast period?
- What factors are expected to hamper global Digital Textile Printing Inks market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Digital Textile Printing Inks market?
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