Water Based Inks Market to Expand at a CAGR of 6 Point 45 Percentage from 2019 to 2027 Immense Popularity of Water-Based Inks in Packaging Industry Bolsters Demand - TMR
An intense competition among different scale of players has been noticed in the global water based inks market, says Transparency Market Research (TMR). In this fragmented competitive landscape, the topmost players and companies in the global water based inks market are focusing on delivering different types of inks to attract customers' eyes. A few names of renowned companies in the global water based inks market include Siegwerk Duckfarben AG & Co., Doneck Euroflex S.A., Wikoff Color Corporation., and Dolphin Inks. Consistently producing and delivering high quality water-based inks is a key strategy to success to a wide range of companies in the market. The well-established companies in the global water based inks market have recognized two important requirements in the printing industry: highly technical oriented approach to water-based ink manufacturing and tailor-made inks to maximize pressroom efficiencies. Moreover, these companies in the global water based inks market are acquiring joint ventures with well-known vendors to sustain the high competition. Their goal is to expand the geographical boundaries to gain prominence in the global water based inks market.
TMR's analysts' estimation reveals that the global water based inks market is anticipated to rise at a promising 6.45% CAGR during 2019-2027. The market hit valuation of US$5,107.1 mn in 2018. Experts project that the market will register valuation of US$8,951.8 mn by the end of the assessment period.
In terms of technology, the flexography segment is gaining traction in the global water based inks market and is executed to remain highly lucrative during the assessment tenure. Flexographic inks showcase extensive adherence to the substrate surface and delivers amazing printing quality, regardless of the substrate material. On the regional front, Asia Pacific is dominating the global water based inks market in terms of value and volume. However, mushrooming ndustrialization is also responsible for making this region lead the market.
Rapid Growth in Flexible Packaging to Foster Market
A water-based ink can be defined as a special type of ink, which usually contains dyes or pigment in a colloidal suspension and the water plays role as solvent. Although, during 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. All such USPs are also driving the global water based inks market. 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 impetus to the growth of the global water based inks market.
Slow Drying and Printing Speed Obstructs Market's Growth
Although, the water based inks exhibit several superior properties, due to which it is widely adopted in various industries, but this ink is highly restricted in alkaline environments. 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. Nonetheless, utilization of resins in water based ink formulation offer potential growth opportunities in the market.
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