Water-based Printing Inks Global Market Report 2024

The water-based printing inks market size has grown strongly in recent years. It will grow from $9.86 billion in 2023 to $10.44 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The expansion observed in the historical period can be attributed to factors such as the growth of emerging markets, changes in customer preferences, and technological advances.

The water-based printing inks market size is expected to see strong growth in the next few years. It will grow to $12.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to factors such as a focus on sustainability, high demand from end-user industries, an increase in demand from the printing industry, and a rise in demand from the packaging industry. Major trends in the forecast period include increased investment in research and development to enhance the physical and chemical properties of products, a rise in consultancy services related to water-based printing inks to assist users in selecting suitable pigments, the introduction of high-resolution inks to company portfolios for more effective fine and solid printing at high speeds, the introduction of thermal inkjet inks to meet the demand for improved performance, lower costs, and ink versatility, especially in photo printing applications. Additionally, there is an increase in strategic collaborations and mergers and acquisitions as companies aim to broaden their products and services range or enter emerging regions within the printing inks market.

The forecast period anticipates that 3D technology will be a driving force in the printing ink market. The global interest in 3D printing technology from consumers, researchers, and industrial production is on the rise, leading to a heightened demand for 3D printing inks. In November 2021, ALTANA and DP Polar introduced Cubic Ink materials, revolutionizing industrial 3D inkjet printing through the continuous Multi-material Jetting process, enabling multi-material capability for various printing materials.

The water-based printing ink market is expected to experience growth fueled by the expanding e-commerce industry. E-commerce, involving the online buying and selling of goods and services, heavily relies on packaging for product protection during shipping. Water-based printing inks, commonly used for printing labels and product information on packaging materials, benefit from the substantial demand generated by the growing e-commerce sector. In October 2021, a report by the International Trade Administration projected that e-commerce for consumer goods would constitute approximately 22% of global retail sales by 2024, growing at an average rate exceeding 1%. The report also highlighted a consistent, long-term increase of 8% in global retail e-commerce sales through 2024, underscoring the significant impact of the growing e-commerce industry on the water-based printing ink market.

Many companies in the printing ink market are transitioning from petroleum-based inks to environmentally friendly alternatives, known as green printing inks. Green printing inks, such as water-based and oil-based inks, are based on sustainable materials such as soy and other plant-derived sources, reducing pollution in landfills. Major players such as DIC Corporation, Flint Group, and Sakata Inx are incorporating green printing inks, free from heavy metals and toxic substances, to mitigate the release of volatile organic compounds (VOCs) during the printing process.

Leading companies in the water-based printing ink market are innovating by developing new products such as direct-to-film (DTF). Direct-to-film (DTF) printing involves transferring ink directly onto a film, which can then be applied to various surfaces. In June 2023, DuPont launched Artistri P1600, a direct-to-film (DTF) pigment ink with unique features that enhance productivity and efficiency by minimizing ink usage and keeping machinery clean for longer. The adaptability of Artistri P1600 is demonstrated in applications such as printing on cotton, blends, and especially polyester, offering a premium ink option for diverse clothing materials.

In July 2021, Avient Corporation, a US-based plastics material and resin manufacturing company, acquired Magna Colours Ltd. for $48 million. This acquisition, occurring as the COVID threat recedes, is expected to significantly expand the combined ink offerings of both companies. Avient aims to align with sustainability objectives through this acquisition and gain a global presence. Magna Colours Ltd., a UK-based manufacturer of water-based printing inks, is now part of the consolidated entity, contributing to its expanded and diversified portfolio.

Major companies operating in the water-based printing inks market report are DIC Corporation, Flint Group, Siegwerk Druckfarben Ag & Co. KGaA, Sakata Inx, Toyo Ink SC Holdings Co. Ltd., T & K Toka Co. Ltd., Huber Group, Tokyo Printing Ink Mfg. Co. Ltd., Fujifilm North America, Nazdar Ink Company, Daihan Ink, Bauhinia Ink, DAS Water Based Ink, Zhejiang Yongzai Chemical, Shanghai Si-Lian Industrial General Company, Hubergroup, Dolphin Inks Pvt. Ltd., Matsui Chemical (International), Altana Corporation, Ferro, Sun Chemical Group, Colorgraf SpA, BRANCHER Tremblay, Encres Dubuit, INX International France S.A.S., Brigal SA., Chimigraf Iberica S.L., SICPA Holding SA, Wikoff Color Corporation, DEERS I Co. LTD., Dow, Evonik, Doneck Network, Siegwerk, Ahbar Industries, Sun Chemical Saudi Arabia, Al Sama Ink Company, United Ink Production Co. Ltd., Rexx Screen and Digital Supplies, Magna Colours.

Asia-Pacific was the largest region in the water-based printing inks market in 2023. Western Europe was the second-largest region in the global water-based printing inks market analysis. The regions covered in the water-based printing inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water-based printing inks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary product types of water-based printing inks include acrylic water-based inks, maleic water-based inks, and shellac water-based inks. Acrylic water-based inks are formulated using water rather than plastic or PVC. These inks are further categorized into flexo inks, gravure inks, and screen-printing inks. Water-based printing inks find applications in diverse industries, including the packaging industry, the textile industry, art, and other specialized applications.

The water-based printing inks market research report is one of a series of new reports that provides water-based printing inks market statistics, including global market size, regional shares, competitors with a water-based printing inks market share, detailed water-based printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the water-based printing inks industry. This water-based printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The water-based printing inks market consists of the sales of different types of water-based printing inks such as high solid acrylic, discharge, low-solids, medium solids, wet on dry, and wet on wet systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.