Digital Inks Market Regional Revenue, Trends, Opportunities and Future Prospects Outlook by 2023
The global digital inks market was worth $1,147.4 million in 2016 and it is likely to grow at a CAGR of 5.4% during the forecast period. Growth in the packaging industry and rising demand for UV-cured inks are driving the global digital inks market.
Robust growth in the packaging industry is expected to play a crucial role in the digital inks market. Growth in the annual spending on packaged food items, rising GDPs of various nations and increasing demands from the packaging industry is projected to create ample opportunities for the global digital inks manufacturers.
The electrography inks held larger share than inkjet inks in the global digital inks market in 2016, however, inkjets inks market is expected to grow at the faster CAGR during the forecast period. The higher growth of inkjet inks is attributed to the several advantages of inkjet printing such as no faster printing, high resolution and low cost.
Geographically, North America has been the largest market for digital inks during 2013 – 2016 and it will also remain the largest market during the forecast period. The North American market is driven by growing electronic media market and increasing demand from office and commercial printing industry.
UV-cured inks offer fast curing speed, high print quality and durability. These inks having flexible ink films contain minimum VOC levels and have more resistance to scratches and wear and tear.
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Some of the other key players in the market include Electronics For Imaging, Inc., Siegwerk Druckfarben AG & Co. KGaA, TOYO INK SC HOLDINGS CO., LTD., SAKATA INX CORPORATION, E.I.
du Pont de Nemours and Company, Marabu GmbH & Co. KG, Nazdar Ink Technologies, and Wikoff Color Corporation.
GLOBAL DIGITAL INKS MARKET
- Commercial printing
- Office printing
- Flexible packaging
- Rigid containers
- Retail bags and sacks
- Industrial printing
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