In the ever-evolving landscape of printing technology, where precision meets innovation, Thermal Inkjet Inks stand as a testament to advancements in the field. This sophisticated form of ink has redefined the quality and efficiency of printing processes across various industries.
The thermal inkjet printers market is experiencing a significant surge in demand due to its versatile applications in various industries. Central to the effectiveness of thermal inkjet printers is the thermal inkjet ink, a critical printing material known for its exceptional adhesion properties, sharp output, and resistance to smudging and rubbing.
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.
This unique set of attributes renders thermal inkjet inks ideal for tasks involving label printing, barcodes, and receipt generation. In thermal inkjet printing, the ink is subjected to temperatures of up to 300 degrees Celsius, causing it to transform into a consistent solution before being precisely ejected through a tiny nozzle.
The Thermal Inkjet Inks Market is poised for substantial growth in the forecast period, driven by several factors. These inks are known for their resistance to water and fading, ensuring that prints maintain their quality for extended periods compared to other ink types.
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Market Trends:
- Sustainable Inks: The industry is witnessing a trend toward the development of environmentally friendly and sustainable thermal inkjet ink formulations to address growing environmental concerns.
- Rise of Digital Printing: The growth of digital printing technologies, including thermal inkjet, is a notable trend in the printing industry, driven by the demand for on-demand, variable data, and short-run printing.
- Advancements in Formulations: Ongoing research and development focus on formulating thermal inkjet inks with improved properties, such as increased color gamut, durability, and compatibility with various substrates.
- Integration with Industrial Processes: Thermal inkjet technology is increasingly integrated into various industrial processes, such as product marking and coding, offering efficient and reliable printing solutions.
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.
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.
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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.
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
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