by The Latex Ink Market is estimated to be valued at US$ 19.82 Bn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Latex ink is a water-based aqueous dispersion used in digital printing. It provides photos and images in high definition on various substrates including paper, vinyl, fabric, and plastic. Latex ink delivers brilliant color reproduction with quick drying time. It produces vibrant, colorfast prints that are water and smudge resistant. Major applications of latex ink includes graphic arts, home decor, banners, posters, signs, and clothing.
Market Dynamics:
Increasing usage of latex ink in digital printing is a major driver for the global latex ink market. Digital printing using latex ink enables short-run production and on-demand printing which offer cost benefits over traditional printing. It produces flexible and washable prints making latex ink suitable for various textile and apparel applications. Flexible packaging is another major end-use industry boosting the demand for latex ink. Rising e-commerce and online shopping has augmented the packaging industry further driving the latex ink consumption. However, volatile crude oil prices affecting the raw material cost is a challenge faced by market players. Product differentiation through innovation in ink formulation offering enhanced print quality is a key strategy adopted by latex ink manufacturers.
Segment Analysis
The latex ink market is dominated by the latex printing inks sub segment. Latex printing inks find major applications in commercial printing and offset printing. Due to the high quality print output and wide color gamut support, latex printing inks have become the material of choice for various commercial printing applications such as packaging printing, publications printing, promotional materials printing etc.
PEST Analysis
Political: There are no major political factors affecting the latex ink market currently.
Economic: The growing packaging and publications printing industries are driving demand for high quality printing inks. This is fueling growth in the latex ink market.
Social: Increasing brand promotions and marketing activities by companies are increasing the need for high quality print outputs. This is positively impacting the latex ink market.
Technological: Advancements in inkjet printing technology and continuous development of new latex ink varieties for applications such as textile printing are supporting the market’s growth.
Key Takeaways
Global Latex Ink Market Demand is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing demand from the packaging printing industry. The packaging printing industry is growing steadily with increasing e-commerce activities and demand for flexible packaging materials.
Regionally, Asia Pacific is expected to be the fastest growing as well as the largest market for latex inks during the forecast period. China, India and other Asian countries are witnessing rapid growth in industries such as packaging and publications printing, which is driving the demand for latex inks in the region.
Key players operating in the latex ink market are HP Inc. (United States), Epson Corporation (Japan), Canon Inc. (Japan), Roland DG Corporation (Japan), Mimaki Engineering Co., Ltd. (Japan), Seiko Epson Corporation (Japan), DuPont de Nemours, Inc. (United States), Agfa-Gevaert N.V. (Belgium), Fujifilm Holdings Corporation (Japan), Sun Chemical Corporation (United States), Sawgrass Technologies, Inc. (United States), Sensient Technologies Corporation (United States), Marabu GmbH & Co. KG (Germany), Nazdar Ink Technologies (United States), JK Group (Italy)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
