Digital Inks Market Worth 4.17 Billion USD by 2023
PUNE, India, April 25, 2018 /PRNewswire/ --
The report "Digital Inks Market by Formulation (Solvent-Based, Water-Based, UV-Cured), Application (Advertising & Promotion, Ceramic Tiles Printing, Clothing & Household Textiles, Packaging, Glass Printing), Substrate, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global digital inks market is projected to grow from USD 2.71 Billion in 2018 to USD 4.17 Billion by 2023, at a CAGR of 9.1% from 2018 to 2023. The growth in the demand for digitally printed soft signage is driving the market for digital inks. In addition, the extensive use of digital inks in ceramics printing has created a high demand for digital inks for use in the application. Packaging is the fastest-growing segment of the digital inks market, owing to the high demand for digital inks for label printing.
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Based on formulation, the solvent-based segment is estimated to account for the largest share of the digital inks market in 2018.
Based on formulation, the solvent-based segment is estimated to account for the largest share of the digital inks market in 2018. Solvent-based digital inks are the most cost-effective digital inks and are widely used in advertising & promotion, ceramics tiles printing, and packaging applications.
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Based on substrate, the plastics segment is estimated to account for the largest share of the digital inks market in 2018.
Based on substrate, the plastics segment is estimated to account for the largest share of the Digital Inks Market in 2018. Digitally printed plastics can be used on Point-of-Purchase displays, labels, nameplates, light box displays, industrial graphics, exhibition graphics, and promotional graphics and membrane switches.
Based on application, the advertising & promotion segment is estimated to be the largest application segment of the digital inks market in 2018.
Based on application, the advertising & promotion segment is estimated to be the largest application segment of the digital inks market in 2018. This large share can be attributed to the rising demand for digital inks in Point-of-Sale (PoS) displays, Point-of-Purchase (PoP) displays, and other digital soft signage printing in the retail end-use market.
The digital inks market in Asia Pacific is expected to witness the highest growth during the forecast period.
China is the largest consumer of digital inks in the Asia Pacific region. The growth of the retail sector in China will drive the demand for digital inks in the country, especially in the advertising & promotion application segment. There has been growth in retail subsectors such as cosmetics, jewelry, sport and leisure articles, cars, furniture, communication devices, household appliances, and consumer electronics.
Key players in the digital inks market include Sun Chemical (US), INX International Ink (US), Toyo Ink SC Holdings Co. (Japan), JK Group (Italy), and Nazdar Company (US), among others.
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