Digital Inks Market Research Report – Global Size, Share, Key Trends, Growth Drivers, Regional Outlook, Revenue Estimation and Forecast, 2024–2030

Market Overview

The global digital inks market was USD 4,102.6 Million (E) in 2023, which will increase to USD 7,823.7 Million (E) in 2030, growing at a compound annual growth rate of 9.8% % between 2024 and 2030.

This is ascribed to the rising acceptance of digital printing technologies, the growing requirement for customization, technological development in digital printing, and increasing environmental concerns.

• In 2023, Fujifilm, at the “Interpack show” in Dusseldorf, Germany, officially introduced its flexible film packaging press, the “Jet Press FP790”.
• This is a single-pass, web-fed inkjet press utilizing water-based inks that prints on flexible films, such as BOPP and PET, from 12–40 microns.

Drivers

• Technological developments in digital printing: Technological advancements in digital printing are a major driver for the industry, with novel printers providing greater resolutions, wider color gamuts, and quicker speeds. Such developments are making digital printing more competitive with conventional printing approaches like flexography and offset.
• In October 2022, HP Inc. announced the latest high-volume production inkjet web press, “the HP PageWide Web Press T485 HD” with HP Brilliant Ink.
• The PageWide Web Press is intended to deliver on an extensive range of applications such as commercial, publishing, transactional, and direct mail, offering print service providers the flexibility to meet the demands of their consumers on coated and uncoated papers.
• Rising acceptance of digital printing technologies: Digital printing technologies are becoming more affordable and efficient, which is leading to their increased adoption in a variety of industries, such as packaging, textiles, and electronics. This is driving the demand for digital inks that are compatible with these technologies.
• Increasing environmental concerns: The increasing consciousness regarding the environmental effect of conventional printing approaches is resulting in a requirement for more sustainable printing solutions. Digital inks are generally considered an eco-friendly substitute to conventional inks because they can be water-based as well as generate less waste.
• For instance, the contribution of the paper & printing sector to the global greenhouse gas inventory is approximately 1%.
• Growing need for customization: Consumers are increasingly demanding personalized products, which is driving the demand for digital printing technologies that can create custom designs on a variety of substrates, including textiles, ceramics, and glass.

Trends

• Advancements of functional inks: Inks with luminescent, conductive, or various other functional properties are becoming popular, opening up novel applications in areas such as smart packaging, security features, and printed electronics.
• For instance, the global demand for printed electronics is likely to touch USD 42.4 billion in 2030, which is driven by the advancements in functional inks.
• Requirement for sustainable & bio-based inks: The emphasis on environmentally friendly solutions is boosting the progression of inks produced from renewable resources such as vegetable oils, biopolymers, and soy.
• Increasing acceptance of water-based inks: Water-based inks provide benefits in terms of environmental effect, compatibility with numerous substrates, and safety, resulting in their increasing acceptance.
• For instance, in June 2021, Siegwerk Druckfarben AG & Co. KGaA. revealed the next generation of sustainable water-based inks for board and paper applications called “UniNATURE”.

Challenges

• High initial investment expenses
• Standardization & compatibility problems
• Competition from conventional printing approaches

A key challenge in the industry is the requirement for a large initial investment related to the inks and equipment required in adopting digital printing. This is particularly challenging for small or startup companies, restricting their ability to utilize such advanced technology. Another challenge is the fact that there is a lack of standardization of ink and its compatibility with different printer brands. Such problem causes complications during the printing process not only for users but also for manufacturers of inks, because of the inability to use a uniform approach. 

Additionally, a significant portion of the current market is still occupied by traditional printing methods which is an obvious competition for digital printing ventures to show that their techniques are better and more versatile and thus gain more recognition.

UV-Cured Category Is Significant Contributor

The UV-cured category, based on formulation, is a significant contributor to the industry. UV-cured inks provide many benefits, such as high curing speed, greater durability, and optimum print quality. These inks with flexible ink films have least VOC levels and provide greater resistance to scratches and wear & tear. Moreover, these inks are ideal on different types of surfaces as well as absorbents, enabling broader application across inflexible or flexible print substrates.

• For instance, in contrast to traditional inks, UV inks are 99.5% VOCs free, making them more eco-friendly.

Hence, UV-cured inks are swiftly being accepted globally by different sectors, including food & pharmaceutical packaging and printing & publication. Furthermore, such types of digital inks produce low heat, consume less energy, resulting in zero ozone generation, and last longer, which will further assist the category expansion.

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Electrography Holds Significant Share

The electrography category, on the basis of type, accounted for a significant share of the industry. The category's significant share can be mainly because of the rise in the utilization of electrographic printing in the packaging sector. It can be utilized on an extensive range of glass, paper, fabric, and metal substrates. Moreover, because of the advantages related to it, including cost-effectiveness, the capability to print on a large scale, and high-speed operation, the technology is mainly employed for commercial applications.

• Electrography offers advantages such as a large speed range of 4–1,000 paper per minute (PPM).
• Moreover, it also delivers exceptional print quality for graphics, pictorials, and text.

North America Accounts Significant Share

North America accounts for a significant share of the industry. This can be mainly attributed to the advancing electronics sector as well as the growing need in the office printing and commercial printing sectors. In addition, the sales of eco-friendly digital inks are likely to surge in this continent in the years to come. Furthermore, the market for such inks in this region is being assisted by the stringent guidelines executed by the Environmental Protection Agency (EPA) about the utilization of inks comprising high VOCs quantities.

• The U.S. EPA regulates volatile organic compounds at the Federal level in 40 CFR 59, which is the national volatile organic compound emission standard for commercial & consumer products.

APAC is likely to advance at the fastest compound annual growth rate in the years to come. The region's fast growth can be primarily ascribed to the existence of emerging economies such as India and China. Moreover, India is one of the fastly growing countries in the packaging sector. According to an article, packaging is the 5th largest sector of the nation's economy. Furthermore, in the years to come, the regional industry is likely to be boosted by the progress in technological improvements as well as the introduction of novel, more inexpensive digital printing methods.

Competitive Landscape

The digital inks market is a swiftly evolving and dynamic industry, with an extensive range of companies competing for market share. Moreover, the industry is fragmented, with a combination of large, reputable businesses, and smaller, niche companies.

• In December 2023: FUJIFILM launched its “FUJIFILM 46kUV Inkjet Printbar System”, which is a novel integrated print solution for industrial production processes for printing on an extensive range of packaging & label material.
• In June 2021: DIC Corporation completed the acquisition of BASF Colors & Effects. This acquisition brings together the complementary portfolio of products, technologies, manufacturing assets, customer service, and supply chain of the two businesses to serve consumers globally.

Major Companies in the Industry Are

• DIC Corporation
• Flint Group
• Toyo Ink SC Holdings Co. Ltd.
• DuPont de Nemours Inc.
• Siegwerk Druckfarben AG & Co. KGaA.
• Sakata Inx Corporation
• Marabu GmbH & Co. KG.
• Wikoff Color Corporation
• Fujifilm Holdings Corporation
• Cabot Corporation