In its new research study named “continuous inkjet inks Market,” FMI has provided crucial insights and produced a revised forecast analysis on the market. The research begins with an introduction to the industrial environment, followed by an examination of market size, by-products, geographies, application forecasts, and vendor and company competition.
According to the most recent industry survey done by FMI, global sales of continuous inkjet inks are predicted to skyrocket due to increased printer adoption by end-user industries. As a result, sales of continuous inkjet inks are expected to increase 1.4 times between 2022 and 2030.
The consumer-level analysis found that water-based inks are the most often used ink type throughout the world, and they are predicted to account for over a quarter of the worldwide continuous inkjet inks market share in 2022. According to the end-user analysis, the food industry is expected to be the largest end-user industry in 2022, accounting for about two-fifths of total global sales of continuous inkjet inks.
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The study examines market share, demand, growth patterns, and forecasts for the next few years. The research includes unique aspects that could have a significant impact on the industry’s development throughout the projection period. A complete market dashboard is depicted, allowing users to examine detailed information about the study.
In comparison to the rest of the world, the East Asian area is expected to have the greatest market for continuous inkjet inks. East Asia is expected to account for 24% of total global sales of continuous inkjet inks in 2022, rising to 27% by 2030. The global continuous inkjet inks market is estimated at US$ 337.6 Mn in 2022 and is projected to reach US$ 488.6 Mn by 2030, at a CAGR of 4.7% from 2022 to 2030.
Key Takeaways of Continuous Inkjet Inks Market Study
- Food industry to be the key end users of continuous inkjet inks as it is poised to account for of 39.8% in the global market by 2030
- Glass as a substrate anticipated to register a CAGR of 6.1% during the forecast period 2022-2030
- Water-based inks estimated to account for nearly half of the global market, and reach slightly over US$ 220 Mn in 2030.
- East Asia is estimated to have an incremental opportunity of US$ 61.5 Mn by 2030 with presence of large number of ink manufacturers
- North America projected to grow by 1.4X during 2022-2030. Absolute $ opportunity in North American market is forecasted to be US $ 28 Mn during 2022-2030.
- Pharmaceuticals segment amongst the other end-use industries estimated to account for 22.9% of the market share.
“Manufacturers are coming up with ink solutions such as UV curable inks for the inkjet printers. This would enhance the print quality and prevent it from degrading due to UV rays. The UV curable inks also provide enhanced life to the inkjet printers. This has led to attracting customers who prefer packaging with rigid substrates such as wood, plastic, and aluminium” says an FMI analyst.
Reduced Carbon Footprint to win Water-based Inks Steady Demand
Lately, consumers and brand owners have become more conscious of their carbon footprint. This has given an edge to the water-based inks segment when compared to the other ink types which are a mixture of PVC resin and plasticiser. Water-based inks are free from ozone depleting chemicals and hydrocarbons, which is making them popular in an environment-conscious world. Since, water-based inks are free from harmful chemicals, they extend the life of the printers, thus reducing the maintenance cycles and costs.
These inks also result in improved printability as water-based-inks soak into the substrate, which makes them enhance elaborate details of design and lettering on printed products. As brands are becoming more deliberate in choosing the right ink for product packaging, this segment is projected to witness a steady growth. The segment also stands to benefit with the food and beverage brand opting for water-based inks due to their food-safe, odor-free and nontoxic attributes.
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Global Continuous Inkjet Inks Market by Category
By Substrate:
- Paper
- Paper & Paperboard
- Cardboard
- Plastic Sheets
- Glass
- Metal
- Others (Fabrics, etc.)
By Ink Type:
- Aqueous / Water-based Inks
- Dye based
- Pigment Based
- Solvent-based Inks
- UV curable Inks
- Phase Change ink/ Hot Melt Inks
By End Use:
- Food
- Beverage
- Pharmaceuticals
- Electronical & Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
Impact of COVID-19 on Continuous Inkjet Inks market
The businesses across the globe are experiencing losses and challenges due to global pandemic COVID-19. Regionally, the United States accounts for a significant consumption of continuous inkjet inks. However, the debilitating impact of COVID-19 on this region has slowed down packaging activities, impacting the sales of inks.
Europe is the second-most affected region by coronavirus outbreak and the second-largest consumer of continuous inkjet ink. Italy, Spain, France, Germany and United Kingdom being the most effected countries are set to experience sluggish growth till situation gets in control. However, disruptions in import-export due to pandemic situation have decreased the availability of raw material supply which is a biggest challenge for manufacturers.
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Continuous Inkjet Inks Market Landscape
Linx Printing Technologies, Eastman Kodak Company, Sun Chemical and Videojet Technologies, Inc. are the top players in the Continuous Inkjet Inks market. Furthermore, Kao Collins Corporation, IIMAK, Tritron GmbH, Needham Inc, Jet Inks Private Limited, Palco Industrial Marking & Labeling, Inc., Printjet USA and Squid Inks are prominent players in the Continuous Inkjet Inks market. The Tier 3 players in the market hold 40-55% in the global Continuous Inkjet Inks market. In conclusion, key players contribute almost 1/4th of the global market
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