The global waterborne ink market is extremely diverse with the existence of numerous small, medium, and large scale players, says Transparency Market Research (TMR) in a research report. The dominating names in the global waterborne ink market include KGaA, Siegwerk Druckfarben AG & Co., Flint Group, and Sun Chemical Corporation. The progress of these companies can be attributed to the incessant research and development activities being carried out across the globe, innovation, aggressive marketing, and circulation of high-quality products.
According to the author of the study, “This market is likely to display rigorous competition over the coming years.” Many old and prominent companies operate based on goodwill and long-term agreements. This helps in gaining advantage of a safe operating field in order to engage in expansion strategies. At the same time, new players are also likely to get attracted towards the market owing to the abundance of raw materials and low cost in spite of the fluctuating pricing in the market.
In 2016, the global market for waterborne ink was valued at US$2.49 bn and is likely to rise to a valuation of US$4.1 bn by the end of 2024. The market is likely to expand at a 6.5% CAGR between 2016 and 2024.
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Packaging Industry to Lead in terms of Demand for Waterborne Ink
In 2015, the packaging surfaced as the leading application segment in terms of consumption of waterborne ink and is likely to remain the same by the end of the forecast period. The prime factor influencing the influx of waterborne ink in the packaging industry is the demand for supple packaging from the food and beverages industry. Waterborne ink printing enables improved aesthetics and low weight in packaging and is anticipated to propel in demand in the coming years. Brochures and flyers which are employed commercial printing as an advertising mode are mainly distributed as handouts and newspaper inserts for publicity in smaller regions. As a result of this, the brochures and flyers segment is also expected to emerge as a crucial contributor to the revenue of the global waterborne ink market.
In terms of region, North America led the global waterborne ink market in 2015 as per volumes consumed and is likely to continue its dominance over the market over the next couple of years closely trailed by Europe and Asia Pacific. The key countries augmenting the global market for waterborne ink are China, India, and ASEAN countries. However, North America and Europe are still anticipated to hold the leading positions in the market by the end of the forecast period. The Middle East and Africa region is likely to witness a steady growth over the coming years.
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Stringent Regulations to Swell up Consumption of Waterborne Inks
Normal printing inks are considered destructive for the environment in terms of product disposal as well as waste disposal. Thus, the printing inks related markets have come under the investigative eye of several government bodies and consumers who are environment-conscious. Acts such as the CAA and the TSCA have been active in curbing emission levels of volatile organic compounds or VO, thus bringing it under federal authority. Similar methods are being undertaken by developed counties worldwide ad and are cutting down on conventional printing inks and adopt waterborne inks instead. Players are seeking refuge in innovations regarding the developed of more advanced waterborne inks.