Water-based Inks Market
Water-based Inks Market was valued US$ Mn in 2018 and is expected to reach US$ Mn by 2027, at CAGR of 7.5 % during forecast period of 2019 to 2027.
Water-based ink formulations consist of surfactant, wax, and deformer additives were prepared and printed on polyethylene film substrates. India is among the fast growing Water-based Inks markets globally spurred by the rapid expansion of the national print markets. Backed by a strong mandate from key end user segments such as newsprint, publishing, package, printing, and other commercial printing, the printing ink market in India has registered strong growth in 2017 to 2018. The printing ink industry is fragmented with over 550 manufacturers and a large number of players in the un-organized sector.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Water-based Inks Market Drivers, Restrains and Segmentation Analysis
The India Water-based Inks Market has become more competitive and price-sensitive owing to the high potential and steady growth of the Water-based Inks Market. Printing ink sector in India is estimated at tons for 2019-27, valued at around US$ Mn. The market witnessed a growth of around 7.5% per annum during the last 10 years. Printed packaging accounts for around % of the demand for printing inks in India followed by newspapers at %.
The applications of water-based inks is limited around highly alkaline environments as these inks are soluble in alkaline solutions, such inks cannot wet and print smoothly on difficult substrates owing to high surface energy of water molecules. The above mentioned factors hamper the growth of the water-based inks market. However, continuous innovation in water-based inks, such as development of pH stable and resins utilized inks offer potential growth opportunities for market expansion. The UV-cured printing inks are a superior alternative to traditional inks, they are used in various printing processes such as inkjet, gravure, and flexography, as they offer several benefits over the Water-based Inks. UV-cured inks do not contain Volatile Organic Compounds (VOC), since drying process is faster. Hence it may restrain the water-based inks market during the forecast period.
Among all the segments of resin type, Acrylic was highly attractive segment of the India Water-based Inks Market in 2018 and is likely to continue the trend during the forecast period because of rise for acrylic resin-based inks from the global packaging industry. Acrylic resins offer soft-film ink polymers, dry quickly, excellent resistance to ice water crinkles, high adhesion and pH stability.
In terms of technology, the flexography printing technology is one of the broadly used in printing processes such as paper, plastic, and paperboard. Market share of the flexography technology segment is projected to increase during the forecast period thanks to its ability to print of a wide variety of substrates and usage of eco-friendly printing inks for example water-based printing inks. Growth of flexible tags & labels and packaging printing industries is drive the segment during the forecast period. Commercial printing/ promotional and printed advertising together account for around % of the demand. Other key end user segments for Water-based Inks include books and stationery.
Scope of the India Water-based Inks Market
Water-based Inks Market, by Resin Type
• Others (including Polyurethane and Phenolic)
Water-based Inks Market, by Technology
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