Digital inks Market

Market Synopsis:

Global Digital inks market is valued at USD 3.24 Billion in 2022 and is estimated to reach a value of USD 6.00 Billion by 2030 at a CAGR of 8.03% during the forecast period.

Digital inks are commonly used in electronic paper and windows ink, which involves digitally printing texts, images, and other graphics on a variety of media substrates. Digital printers produce a crisper finish and take up less space than traditional offset printers, allowing for an infinite number of color combinations, which is a major driver of the Digital inks business. Furthermore, the expansion of e-commerce platforms is predicted to boost demand for Digital inks in applications such as advertising and marketing, as well as packaging. Furthermore, during the forecast period, the growing demand for Digital inks in the packaging industry is likely to remain a key growth driver for the Digital inks industry. Because several countries are shut down as a result of the covid-19 outbreak, offset printing, inkjet printing, and laser printing are experiencing a period of low demand from their end-use sectors.

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Through indoor signs and display systems, Digital inks has been used to create an impression of interior architectural design. Interiors can benefit from the unique wall and floor graphics that provide stunning imagery and color. The use of Digital inks for reception and directional signs navigation is increasing due to increased demand from various industries such as service, commercial buildings, and workplaces. Ceramic inkjet printing methods have revolutionized the decorative tile manufacturing process. For residential applications, consumers are drawn to bespoke ceramic tiles with intricate, realistic marble pictures in a variety of patterns.

In 2020, the electrographic category accounted for the greatest share of the Digital inks market. The increasing use of electrographic printing in the packaging industry is a significant driver contributing to the segment's growth throughout the forecast period. It may be used on a variety of substrates, including paper, glass, metal, and cloth. The technique is primarily employed for commercial reasons due to the benefits connected with it, such as cost-effectiveness, high-speed operation, and the capacity to print on a big scale. Furthermore, due to its great image quality, particularly with color images, inkjet inks are likely to see an increase in demand during the forecast period.

Increasing Usage of Digital Inks in the Ceramic Tiles Application Are Expected To Drive Growth Of The Digital inks Market

Inkjet printing is quickly becoming the most popular ceramic tile decoration method due to the broad availability of digital printers. Drop on Demand Ink-Jet Printing (DOD-IJP) is quickly becoming the most popular method for decorating ceramic tiles. The advantages of digital technology, such as non-contact decoration, rational ink management, the ability to print textured surfaces and high-quality images, more efficient decoration department management, and greater control on the production line, and more, are the reasons for inkjet printers' rapid and widespread adoption. The value of ceramic tiles exported is increasing as per capita income rises and urbanization spreads around the globe. As a result, the rising demand for Digital inks in the application of ceramic tile serves as a catalyst for growth.

Increasing E-Commerce Platform To Drive Growth Of The Digital inks Market

Malaysia is an attractive e-Commerce market in Southeast Asia, according to the International Trade Administration (ITA), due to its dynamic economy and strong infrastructure for digital technology. The implementation of programs under the National Strategic Roadmap for E-Commerce is boosting Malaysia's e-Commerce sector (NeSR). Japan is the third-largest and fastest-growing e-commerce market in the world. Demand for online purchasing is increasing in emerging countries, and labels, plastic bags, and invoices are utilized for packing, which ultimately requires digital inks to label delivered shipments. As a result, the growth of e-commerce platforms is driving the Digital inks industry.

Volatility in Crude Oil Prices

Solvents, black carbon, resins, mineral oils, and intermediates are examples of petrochemical-derived raw ingredients used in the manufacture of digital inks. Digital inks are commonly employed in fine arts and a variety of advertising campaigns. Flavorings, ketones, esters, and alcohols, which are downstream products of crude oil, are frequently utilized as basic materials in the manufacturing of ink solvents. As a result, the price of ink solvent raw materials is affected by crude oil price fluctuations. Furthermore, when the price of crude oil fluctuates, so does the price of digital inks. As a result, the digital ink market's growth would be hampered by the volatility in crude oil prices, which is predicted to be a significant issue for manufacturers.

Asia Pacific Digital inks Market to Grow at the Fastest CAGR

During the projected period, Asia Pacific is expected to be the fastest-growing market for digital inks. The region's need for digital inks for advertising and promotion applications is being driven by the rise of the retail end-use category. Another factor driving this market's expansion in the region is rising building spending.