Advertising Driven Press Release Distribution
Advertising Driven Press Release Distribution
Water-Based Inks Market size is forecast to reach $7.76 billion by 2025 after growing at a CAGR of 7.5% during 2020-2025. Water-based inks contains either pigment or dyes in a colloidal suspension with water as solvent. The growth of the market of water-based inks is expected to be driven by the high demand from the printing industry.
By Resin type- Segment Analysis
Acrylic Segment of the water- based inks held the largest share in the water- based inks market in 2019. As these resins provides excellent press and shelf-life stability, high gloss, and water resistance. Acrylic resins offer soft-film ink polymers with excellent resistance to ice water crinkles, pH stability, and high adhesion therefore, these are used in the printing. The growing advertising needs of enterprises across the globe, along with extensive technological proliferation, currently represent the key factors driving the growth of printing industry. Organizations are increasingly adopting printers as they are more cost-effective and efficient for bulk printing. Widespread use of high-quality printed packaging material for advertising and branding acts as another major growth-inducing factor. Furthermore, the steady demand for physical hardbound books is another factor driving the growth of the market.
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By Printing Process-Segment Analysis
Flexography printing segment held the largest share in the water- based inks market in 2019 as the demand for flexographic technology is rising, as it can be used print onto a wide range of substrates. Flexographic inks exhibit high adherence to substrate surface and provides excellent printing quality, irrespective of the substrate material. The flexographic printer is able to produce thousands of custom labels in a very short amount of time through the transfer of ink onto a material, such as paper, film, or cardboard. The printing material is mounted to fast-rotating cylinders using flexible printing plates to get it done. The use of flexographic printing is due to its speed, cost-effectiveness, and reduced toll on the environment. The easy plate-making process used in the flexography technology helps print numerous images with a single template. Additionally, this technology enables printing on a wide variety of surfaces. The rise in flexible packaging and printing of tags and labels across the globe is driving the growth of the market.
By Application-Segment Analysis
The Flexible packaging segment accounted for a major share of the water-based inks market in 2019 due to the rise in demand for these inks in corrugated packaging in the food & beverages industry. Factors such as ability of flexible packages to shape into pouch, bag, liner or overwrap will provide lucrative opportunities for industry participants. Food & beverage, and personal care companies demand for packages that adds value and marketability to their products. In addition, strong appeal for lighter-weight packaging will further propel flexible packaging product over the projected timeframe. Consumer interaction with packages is changing. With an increasing focus on sustainability, traditional rigid packaging solutions are being replaced by innovative, flexible packaging solutions. Increasing market demands for consumer-friendly packages and enhanced product protection have propelled flexible packaging as a viable and cost-effective alternative. Flexible packaging not only plays a pivotal role in reducing beverage and product waste but also allows online brands to reinvigorate their packaging to enhance the e-commerce experience. The prevalence of flexible packaging in the beverage sector is quite evident when browsing through the selection in the vending machines. The products for sales are convenient, single-use, and are mostly packaged in flexible films. These factors will drive the growth of the market in the forecast period.
By End Use-Segment Analysis
Textile industry held the largest share in the water- based inks market in 2019 growing at CAGR of 8%. The water- based inks are used in the textiles printing. Textile printing is the method of applying color to fabric to make decorative patterns in a uniform way. Textiles are utilized in different areas of household applications, some of which include bedding, kitchen products, upholstery, and towels and others. The factors such as high reliability, uninterrupted printing, cost-effective production, and design versatility contribute positively to the textiles industry. The abundance of natural fibers, especially cotton, in China, India, and the United States, is contributing significantly to the growth of the global textile sector. The demand for textiles is growing, on account of the strong demand base of developed countries coupled with the strengthening demand from developing economies. However, the production is highly concentrated both in terms of geography as well as in terms of market players. Lower manufacturing costs, cheap and skilled labor force are creating opportunities for the emerging markets. Rising awareness among the consumers, rapidly growing middle class, increasing disposable income the global textiles industry will gain momentum over the forecast period. Ongoing advancements in fashion and apparel industry coupled with changing demographics and consumer demand are anticipated to boost the market over the forecast period.
APAC dominates the water- based inks market with a share of 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the packaging and consumer goods industry, due to the large prospective population in the region coupled with the factors which are inducing the growth of the market such as rising personal disposable income and increasing internet penetration in the region. Further, distribution of consumer goods market has a huge role in the success of a company as it directly impacts the demand and supply in the market and hence the revenue. With the rising penetration of internet and e-commerce across the globe, the reach of consumer goods companies has increased. The perks of e-commerce have not only benefitted the companies but also the consumers in terms of pricing and a vast range of options available to them. Moreover, new customers have also been attracted by the online distribution route. The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. The current epidemic outbreak has deeply influenced consumers’ daily life and in addition to the impact on coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. This factor will hinder the growth of the market in for the year 2020.
Drivers – Water-Based Inks Market
Rapid Growth in Flexible Packaging will drive the market in the forecast period
The process of producing water-based inks, the prime solvent utilized is water, however, the inks may also contain various co-solvents. These co-solvents are used to decrease the time and heat required for curing ink film on fabric. Water-based inks are popular due to its color, flow behavior, good surface appearance, performance, and gloss. All these features are fueling growth in the global water based inks market. Along with this, water-based ink products have lower inflammability ratings and easier to clean, thanks to the rapid advancements in technology. Furthermore, soaring demand for unique printing inks and rapid growth in flexible packaging are also the major factors contributing demand in the global water based inks market. Rapid use of water-based inks help in reducing the amount of hazardous waste. Therefore, growing environment and safety issues is also providing major driver to the growth of the global water based inks market in the forecast period.
The rise in online shopping and growth of the packaged food industry will drive the market in the forecast period
Water-based inks are used in the packaging of e-commerce products and a growth in the e-commerce industry will subsequently lead to a growth in demand for water-based inks. In the global scenario, e-commerce is a largely preferred retail format especially among the young shoppers who are inclined towards online shopping through their smartphones. E-commerce and m-commerce have witnessed a rapid proliferation across the globe and this has augmented the need for e-commerce packaging. Vendors operating in the regional market are aligning their businesses with the current market expectations and are bringing in greater innovation and enhanced quality in the packaging of their products to meet customer expectations. A growth in the e-commerce packaging industry, it is expected to significantly drive the market in the forecast period.
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Challenges – Water-Based Inks Market
Slow Drying and Printing Speed restrict the market’s growth
Although, the water based inks exhibit several superior properties, due to which it is widely adopted in various industries. Water based inks is highly restricted in alkaline environments, such inks cannot wet and print smoothly on difficult substrates owing to high surface energy of water molecules. Additionally, water based inks cannot wet and print smoothly on complex substrates because of the water component’s high surface energy. These are the couple of factors majorly hampering the growth of the global water based inks market. The above mentioned factors hamper the growth of the water-based inks market.
Take large amount of time to be cured when compared with non-water based printing inks
Water-based printing inks take considerably large amount of time to be cured when compared with non-water based printing inks. The water-based printing inks printed on a surface, certain temperature must be reached and held to completely dry the solvent used for printing. Though the printer can print the desired image quality and image onto a wide range of substrates, they cannot be done simultaneously, reducing the speed of the printer. This creates an obstacle to used water-based printing inks, thereby restraining the growth of the market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the water- based inks market. In 2019, the market of water- based inks has been consolidated by the top five players accounting for XX% of the share. Major players in the water- based inks market are DIC Corporation, Dow Corning Corporation, Evonik Industries AG, Flint Group, Siegwerk Druckfarben AG & Co. KGaA and Others.
Acquisitions/Technology Launches/Product Launches
In July 2017, Flint Group has launched the new generation of water-based ink technology PremoNova® – a revolutionary concept dedicated for Paper & Board applications. PremoNova® technology is a significant development providing the highest quality product performance ever seen – raising the bar for the water-based ink industry.
Asia-Pacific dominates the water-based inks market owing to increasing demand from packaging industry.
Growing demand for printing inks from the flexible packaging market will drive the market in the forecast period.
Use of water-based inks is restricted around highly alkaline environments as these inks are soluble in alkaline solutions. This factor will hinder the growth in the forecast period.
COVID-19 pandemic has impacted and continuously impacting the water-based inks market due to lockdown or shutdown guidelines issued by the various government to avoid the spread of virus.
Related Reports :
A. Printing Inks Market
B. Acrylic Adhesives Market
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