NEWARK, Del, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The eco-friendly inks market is predicted to be worth US$ 4.55 billion in 2023, and rise to US$ 7.5 billion by 2032. Demand is expected to increase at a CAGR of 5.8% during the projected period.
The key drivers of market growth are rising environmental concerns in the printing industry. As a result, there is a significant market for green printing technologies like digital printing, 3D printing, and UV printing.
As water-based inks are being used more frequently, the sector is predicted to grow. Periodicals, labels, and packaging are just a few examples of the many uses for water-based inks, which are also free of toxic chemicals.
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Governments globally are establishing stringent regulations to decrease the harmful impacts of ink manufacturing and consumption on the environment. Businesses looking for ways to follow these regulations have increased the demand for eco-friendly inks.
In response to the increased sales of eco-friendly inks, several businesses are investing in research and development projects to develop new goods. The need for organic inks is expected to increase as a new trend. Many different applications, including consumer goods, use inks made of organic ingredients like soybeans.
Key Takeaways
- By 2032, the United States is likely to dominate the eco-friendly inks market, with a share of 19.4%.
- The demand for eco-friendly inks increased at a 3.5% CAGR between 2018 and 2022, citing FMI's study.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 4.4% by 2032. The market is likely to generate a share of US$ 169.9 million by 2032.
- Japan's eco-friendly inks market is expected to grow with a share of 35.8%, and a CAGR of 6.7% by 2032.
- Between 2023 and 2032, the eco-friendly inks market is likely to increase in India at 7.8% CAGR, respectively.
- The expansion in China is anticipated to expand at an adequate CAGR of 6.2% by 2032. The market is expected to generate a share of US$ 835.8 million by 2032.
- Germany's market is expected to reach US$ 178.9 million, and a CAGR of 3% by 2032.
- With sustainability in mind, the market growth rate is expected to be around 1.8x by 2032.
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Competitors Utilizing Their Potential for Improved Market Share
Green printing strategies have been adopted by manufacturers as a result of growing environmental concerns. The initial expansion of the eco-friendly inks market is also being driven by the rising demand for water-based and UV-curable inks.
Eco-friendly Inks producers now generate inks that are more effective and affordable due to the development of new eco-friendly ink compositions. The market is expanding as a result of the rising demand for digital printing and an increase in the number of businesses providing green printing services.
Kao Collins Corporation, Sun Chemical, Living Ink Technologies, Siegwerk Druckfarben AG & Co. KGaA, INX International Ink Co., Wikoff Color corporation, STS Inks, Flint Group, EPTANOVA, Kwang Myung Ink Co. Ltd, Gans Ink & Supply, Toyo Ink India Private Limited, Huber Group, Marabu Printing Inks, Magna Colours Ltd. are some of the major players in the global eco-friendly inks market.
Latest Developments
- For $48 million in July 2021, Magna Colors teamed up with Avient Corporation, a major supplier of specialized and environmentally friendly material solutions.
- Energy-efficient printing inks with a low carbon footprint presented by Marabu, an ink manufacturer, at glasstec 2022 in July 2022. The business also displays inks for the glass industry's use in screen printing, digital printing, and pad printing.
- At Printpack India 2022 in May, Huber Group Print Solutions presented its sustainable folding carton portfolio.
Key segments
By Color:
- Four Color
- Monochrome Printing
By Origin of Bio Pigments:
- Flint Ink
- Algae Inks
- Animal Origin
- Vegetable-based Ink
By Type:
- Gums
- Resins
- Waxes
- Solvent-based
- Water-based
- Oil-based
By Printing:
- Flexography
- Lithography
- Gravure
- Offset
- Screen Printing
- Digital
By Packaging:
- Food & Beverage
- Pharmaceutical & Medical Devices
- Consumer Goods
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation/Development Trends
4. Key Success Factors
4.1. Product Adoption/Usage Analysis
4.2. Product USPs/Features
4.3. Strategic Promotional Strategies
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.
With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
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