Global Water-based Inks Market is estimated to surge to a revenue of US$ 12,415 Million by 2033 at steady CAGR of 3.1% | Analysis by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
7 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The Europe market for water-based inks is expected to experience significant growth driven by the increasing demand in the food and beverages industries. The United Kingdom, specifically, is projected to grow at a rate of 2.1% from 2023 to 2033. Exploring new applications and markets can present opportunities for expansion and tapping into previously untapped customer segments and revenue streams within the water-based inks market
NEWARK, Del, June 04, 2023 (GLOBE NEWSWIRE) -- The water-based inks market is projected to reach a value of US$ 9,120.0 million in 2023 and is expected to exceed US$ 12,415.0 million by 2033. The market is capturing a CAGR of 3.1% during the forecast period.
Water-based inks are gaining popularity as a sustainable alternative to solvent-based inks due to their environmental friendliness.
Drivers for the demand for water-based inks include stringent environmental regulations, health and safety considerations, packaging industry requirements, technological advancements, and corporate social responsibility initiatives.
However, companies in the market also face challenges such as performance and durability limitations, equipment and infrastructure adjustments, education and awareness gaps, and cost considerations.
Opportunities in the industry lie in market expansion, technological innovations, collaborations and partnerships, and education and awareness campaigns.
Ongoing trends in the market include the focus on bio-based and renewable materials, customization and special effects, digital transformation and e-commerce, and integration of smart technologies.
Europe: Europe captures a market share of 17.9% in the market. The region has witnessed a shift towards sustainable packaging materials, driven by consumer preferences and regulatory requirements. Collaboration between industry players and governmental bodies has fostered innovation and supported the growth of the water-based inks market in Europe.
United States: The United States has a significant share of the global water-based inks market, with a market share of 18.7% in 2022. Stringent environmental regulations and consumer preference for sustainable products have driven the adoption of water-based inks in the country.
India: A significant increase in demand for water-based inks has been witnessed in India. The market in the country is experiencing a steady growth of 6.0%. Factors such as increasing environmental awareness, the expansion of the packaging industry, regulatory support, technological advancements, and the demand for sustainable printing solutions have contributed to this growth.
The United Kingdom: The country has a mature printing industry and a strong market for water-based inks, with a projected growth rate of 2.1% from 2023 to 2033. Environmental regulations, sustainability initiatives, and consumer demand for eco-friendly printing solutions have driven the adoption of water-based inks in the United Kingdom.
DIC Corporation and BASF SE: In 2020, DIC Corporation, a leading Japanese ink manufacturer, announced a strategic collaboration with BASF SE, a global chemical company.
Siegwerk and Agfa Graphics: Siegwerk, a global provider of printing inks for packaging applications, partnered with Agfa Graphics, a leading supplier of prepress and inkjet systems, in 2018.
Toyo Ink Group and DYO Printing Inks: Toyo Ink Group, a Japanese ink manufacturer, acquired DYO Printing Inks, a leading Turkish ink company, in 2019. The acquisition aimed to strengthen Toyo Ink Group's presence in the European and Middle Eastern markets for water-based inks.
Key market players operating in the water-based inks market include DIC Corporation; Flint Group; Hubergroup; Sakata Inx Corporation; Siegwerk Druckfarben AG & Co. KGaA; T&K TOKA Co. Ltd.; Toyo Ink SC Holdings Co., Ltd.; Fujifilm Holdings Corporation; American Inks & Technology; and Wikoff Color Corporation.
About the Packaging Division at Future Market Insights(FMI):
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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AboutFuture Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
