By 2032, industry is expected to consistently expand at a 5.8% CAGR. According to FMI, the eco-friendly inks market is expected to expand its revenue share from US$ 4.3 billion in 2022 to US$ 7.5 billion by 2032.
Over the last two decades, newspaper associations across the world are looking for different ways to produce ink. Previously, all the associations related to the print media used petroleum-based inks that are costlier owing to fluctuating oil prices as well as responsible for environmental issues as they contain high levels of Volatile Organic Compound (VOC).
After several years of research, key players are ready to introduce vegetable oil-formulated eco-friendly inks that are free from VOC as VOC is harmful to indoor air quality and health. According to the American Lung Association, VOCs are harmful by themselves and some can react with other gases to form other air pollutants. Vegetable-based inks are preferred for food packaging or anything that is likely to come in contact with food.
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The manufacturing process of eco-friendly inks includes soybean, which is slightly refined and blended with resins, dyes, pigments or waxes. During the deinking process, eco-friendly ink gets removed faster as compared to conventional ink.
On the basis of degradability, the speed of the degradation of eco-friendly ink is double as compared to that of regular ink. In addition, regular ink is made from petroleum-based products and releases toxic chemicals during the deinking process.
As of today, most of the newspaper associations across the world are adopting eco-friendly inks as they create brighter and sharper images through printing and are free from petroleum solvents. However, eco-friendly inks take more time to dry as compared to conventional ink, which is the only factor that is likely to hamper the growth of the eco-friendly inks market.
Market Dynamics: Eco-Friendly Inks Market
Innovations in technology, increasing focus on R&D, environmental concerns and the development of cost-effective end products are among the key drivers of the eco-friendly inks market. In addition, stringent regulations across the world are forcing key players to focus on producing eco-friendly inks instead of conventional inks.
However, certain factors, such as the higher price of eco-friendly ink as compared to conventional ink and the lower supply of eco-friendly ink as compared to demand, are among factors likely to restrict the growth of the market. Key players have the opportunity to develop as well as produce eco-friendly ink.
Some of the key players are investing in eco-friendly inks in order to meet stringent environmental regulations formulated to mitigate pollution caused from discharge of other inks in environment.
Regional Outlook: Eco-Friendly Inks Market
Over the past couple of years, there has been remarkable growth in the demand for eco-friendly inks to reduce volatile organic compounds as well as the environmental load. Globally, key players are undertaking initiatives to protect the environment, especially in Asia Pacific and Western Europe. The China eco-friendly inks market is gaining traction owing to an upsurge in the demand for bio-based eco-friendly inks.
China is expected to dominate the eco-friendly inks market by the end of the forecast period. In Western Europe, market key players are focusing on expanding the production of eco-friendly inks to meet the global demand. The China eco-friendly inks market is expected to register noticeable growth in the near future.
Furthermore, the North America eco-friendly inks market is expected to witness moderate growth. However, the Middle East & Africa (MEA) and Latin America regions are likely to register weak growth during the same period.
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Examples of some of the key players identified across the value chain of the eco-friendly inks market are:
- Sun Chemical
- Toyo Ink LLC
- 3INX International Ink Co.
- Hubergroup
- Gans Ink
- Earth Inks Group
- SYNTHOTEX CHEMICALS PVT. LTD.
The research report presents a comprehensive assessment of the eco-friendly inks market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
Eco-friendly inks also contains projections using a suitable set of assumptions and methodologies. The eco-friendly inks report provides analysis and information according to market segments such as geographies, application, and industry.
Market Segmentation: Eco-Friendly Inks Market
The eco-friendly Inks market is segmented on the basis of product type and application.
On the basis of product type, the eco-friendly inks market segmented as:
- Soy-based Ink
- Flint Ink
- Others
On the basis of application, the eco-friendly Inks market segmented as:
- Label & packaging
- Commercial Printing
- Publications
- Others
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The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with eco-friendly inks market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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