The increasing stringency of government regulations related to protective environmental protocols and the demand from the packaging industry are driving the global waterborne ink market. Transparency Market Research (TMR) has estimated that the global waterborne ink market will rise at a CAGR of 6.5% for the forecast period 2016-2024 and the market’s valuation will reach US$ 4.1 bn by the end of 2024.
Which applications are expected to exhibit increased uptake of waterborne inks?
Packaging is an important application segment within the waterborne ink market. Waterborne inks are used for both flexible packaging and corrugated packaging. Improved aesthetics of packaging and low weight packaging material are the prime causes bolstering the need of waterborne inks in the food and beverage industry. Furthermore, publication applications that comprise of printing of visual content or texts on public domain catalogs, magazines, newspapers, and books are demanding for waterborne inks for their printing. Also, brochures and flyers that are used as a medium of advertisement forms a major segment of applications of waterborne inks; these traditional ways of marketing are vastly followed for the local advertisements, which will help the global waterborne ink market to sustain. The sustainable qualities of waterborne inks have escalated the applications in the aforementioned industries.
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For the manufacturing of waterborne inks, reins such as maleic, polyester, styrene acrylic, are used and technologies like digital, gravure, and flexography are prominently used for the applications of these types of inks.
Which types of waterborne ink will witness most demand in the coming years?
In flexible packaging, the most common types of ink used are solvent-based inks, waterborne inks, and energy curing inks. Currently solvent-based inks are the most widely used type of inks and energy curing inks are direct competitors of waterborne inks. But, solvent-based inks contains the volatile organic compounds (VOCs) and for the environmental benefits, governments have started posing strict laws against VOC emissions.
Furthermore, the trends of sustainable production are motivating manufacturers to use waterborne inks as customers are getting attracted towards manufacturers who keep environmental factors as one of their major priorities. In the recent past, questions have been aroused concerning lack of acceptable quality levels achievable by waterborne ink. Nevertheless, many technologists believe waterborne inks to be capable of providing superior quality printing. As waterborne inks are still in the nuisance stage, technological advancements will drive the global waterborne market.
Which geographical regions are expected to experience high demand of waterborne ink market?
Geographically segmented into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America, North America is dominating the global waterborne ink in terms of volume is expected to grow for the forecast period. Following North America, Europe, and Asia Pacific are estimated to sustain the market attributing to rising environmental concerns.
Recent advancements waterborne ink technology, pro-environmental regulations implemented by various governments, and huge availability of raw materials are attracting new vendors. This in turn will give impetus to the global waterborne ink market in the future.