The Thermal Inkjet Inks Market is anticipated to thrive at a slow-paced CAGR of 5.1% between 2023 and 2033. The market is expected to have a market share of US$ 1.99 billion by 2033, while it is likely to be valued at US$ 1.21 billion in 2023.
Enhanced printing results, higher sales of thermal inkjet printers, and increased print and barcode quality production. Furthermore, improved printing and the perfect density of the ink are helping the market expand its boundaries.
Higher advantages due to the nature, manufacturing, price, and advent of UV-cured printing are advancing the market dynamics. Alongside this, the economic benefit to the industry is attracting potential packaging, designing, and printing clients. The lower manufacturing costs and the end product also help in sales.
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The higher demand for paper media and packaging, along with the newly added segments are adding value to the sector. Proliferating sales of magazines, books, and other files, along with the automotive printing flourishing, make the market successful. However, the concerns regarding the usage of paper and other applications limit the market growth.
The restoration of custom packaging operations is increasing the sales of multi-color ink for printers.
Major Players:
- Videojet Technologies, Inc.
- Union Chemical Co., Ltd
- Mylan Group
- Rex-Tone Industries Ltd
- HP Development Company, L.P.
- Digital Ink Technologies Pty Ltd
- Linx Printing Technologies Ltd.
Key Points
- The United States market leads the North American thermal inkjet inks market in terms of market share in North America. North America held a market share of 30.9% in 2022. The factors attributed to the growing packaging and advertising businesses due to the rising businesses in the United States. Furthermore, higher adoption of affordable inkjet printers is also flourishing regional growth.
- The German thermal inkjet inks market held a healthy market share in 2022. New packaging businesses, new printing houses, and restoration of the advertising business cause market growth. The European region held a market share of 21.9% of the global market in 2022.
- The Indian market thrives at a healthy CAGR between 2023 and 2033. The rising businesses, higher economic activities, and proliferation of ink-producing plants are projected to push regional growth.
- Based on substrate type, two sub-segments are Porous and Non-Porous.
- Based on packaging type, sub-segments are ranging from automotive, chemical, and agriculture to research and development.
Competitive Landscape
The key suppliers focus on affordable prices, high-quality ink, and enhanced texture. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Recent Market Developments:
- HP Inc. announced that it is set to acquire Poly, a global leader in workplace collaboration solutions, for an enterprise value of US$ 3.3 billion. This acquisition stirs HP’s strategy to make a more growth-oriented portfolio. It also strengthens its industry opportunity in hybrid work solutions.
- Videojet Technologies, a giant in coding and marking solutions, and Software, a leader in Enterprise Labeling and Artwork Management solutions, announced a strategic partnership to alter how companies automate printing across production lines, warehouses, and factories.
- Digital Ink Technologies Pty Ltd has launched its ink engineering and manufacturing space for custom ink engineering and enhanced printer performance. Along with thermal inkjet ink, the brand produces UV/LED inkjet inks, water-based inkjet inks, and eco-solvent inkjet inks.
- Linx Printing Technologies Ltd. It has introduced its special adherence inks and food-grade inks containing edible raw materials.
Segmentation:
By Substrate Type:
- Porous
- Non Porous
By Packaging Type:
- Automotive
- Chemical
- Agriculture
- Oil and Gas
- Research and Development
- Others
By End User:
- Food & Beverage Industry
- Consumers Goods
- Cosmetics & Personal Care
- Industrial Goods
- Automotive Industry
- Electrical & Electronics
- Others
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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