Digital Inks Global Market Report 2024

The global digital inks market has grown strongly in recent years. It will grow from $3.25 billion in 2023 to $3.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historical period can be attributed to factors such as the adoption of UV-curable inks, global economic trends, increased usage in graphic arts, growing demand from the packaging industry, and applications in textile and apparel printing.

The global digital inks market is expected to see strong growth in the next few years. It will grow to $4.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to regulatory developments, global economic conditions, a rising demand for digital printing, an expanded scope of applications, and the increasing emphasis on customization and personalization. Major trends in the forecast period encompass advancements in inkjet technology, the broadening of digital printing applications, diversification of ink formulations, a focus on sustainability and eco-friendly inks, and continuous efforts in quality and performance enhancement.

The digital ink market is set to experience growth, fueled by the rising demand for the ceramic tiles industry. Ceramic decorators leverage digital printing inks for small-batch printing, cost savings on inventory, and meeting the evolving needs of the ceramic inks sector. Notably, the production and consumption of ceramic tiles are projected to experience significant growth, with a forecasted increase in production by 918 million square meters and consumption by 1266 million square meters in 2025. The surge in sales of ceramics in the US, with an 8.2% increase to $3.077 billion in 2021, further underscores the demand for ceramic products. Consequently, the digital ink market is benefiting from the increased demand in the ceramic tiles industry.

The digital ink market is expected to receive a boost from the growing e-commerce industry. The expansion of e-commerce necessitates adaptable and streamlined printing solutions, positioning digital inks as crucial for meeting the diverse printing needs of online enterprises. Projections indicate that e-commerce for consumer goods is set to represent around 22% of global retail sales by 2024. Additionally, a consistent 8% increase in global retail e-commerce sales is anticipated through 2024. As e-commerce continues to thrive, the demand for digital inks, which play a vital role in printing applications for online businesses, is on the rise.

Major players in the digital ink market are focusing on innovation, introducing products such as sublimation inks to cater to a larger customer base and drive sales revenue. Sun Chemical's ElvaJet Topaz SC is highlighted for its emphasis on user-friendliness and on-printer experience, broadening the ink operating window for accurate jetting performance. The product's compatibility across systems enhances reliability, reduces dependence on waveform, and ensures high-quality image printing across all drop sizes. This innovation reflects the industry's commitment to providing versatile and high-performance digital inks for various printing applications.

Companies operating in the digital ink market are also introducing innovative products like direct-to-film (DTF) inks to expand their customer base and increase revenue. DuPont de Nemours Inc.'s Artistri P1600 DTF pigment inks are designed to cater to DTF printers aiming for professionally printed products with vibrant colors on a range of fabrics. The ink set offers versatility across applications, from cotton and blends to polyester, providing printers with a high-quality solution for diverse clothing materials. This focus on innovation in ink products reflects the industry's commitment to meeting the evolving needs of printing technologies.

In June 2022, Agfa-Gevaert Group, a Belgium-based manufacturer specializing in imaging systems and IT solutions for the printing industry and healthcare, successfully acquired Inca Digital Printers for an undisclosed amount. This strategic acquisition is a significant move for the Agfa-Gevaert Group as it strengthens its position in the sign & display and industrial printing businesses, aligning with Agfa's ambitious growth objectives. The acquisition encompasses a line of recently developed single-pass printers designed for various packaging applications, an existing portfolio of high-speed multi-pass printers, a robust service organization, and a custom in-line print engine developed in collaboration with leading corrugator manufacturer BHS Corrugated. Inca Digital Printers, the acquired company, is based in the UK and is recognized for its expertise in developing, manufacturing, and distributing inkjet printers for the print industry. This acquisition underscores Agfa-Gevaert Group's commitment to advancing its capabilities and expanding its footprint in key segments of the printing market.

Major companies operating in the digital inks market report are Sun Chemical Corp., AM Printex, Cabot Corporation, DuPont Inc., Flint Group, FUJIFILM Holdings America Corporation, Independent Ink Inc., INKCID, INX International Ink, Itaca Group, JK Group Spa, Marabu GmbH & Co. KG, Navratan LLP, Nazdar Inks & Coatings Inc., NUtec Digital Ink (Pty) Ltd., Sensient Technologies Corporation, Siegwerk Druckfarben, Toyo Ink SC Holdings Co., Wikoff Color Corporation, Bordeaux Digital PrintInk Ltd., Brother Industries Ltd., Canon Inc., Colorjet India Ltd., Hongsam Digital Science & Technology Co. Ltd., HP Inc., Inktec Co. Ltd., INX International Ink Co., JK Agri Genetics Ltd., Mimaki Engineering Co. Ltd., Nuova GIDUE S.r.l., Ricoh Company Ltd., Roland DG Corporation, Seiko Epson Corporation

Asia-Pacific was the largest region in the digital ink market share in 2023 and expected to be the fastest-growing region in the forecast period. The regions covered in the digital inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital inks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main formulations of digital inks include solvent-based, water-based, UV-cured, and other formulations. Solvent-based digital ink formulations find applications in the packaging and automotive industries, as well as for decorating bottles, labels, membrane switches, and outdoor items. Solvent-based inks typically consist of pigment and resin (binder) components, forming the solid part of the ink. Substrates for these inks include plastics, textiles, ceramics and glass, and paper, processed through technologies such as electrography and ink-jet. Solvent-based digital inks are applied in various industries, including advertising and promotion, ceramic tile printing, clothing and household textiles, packaging, publication, glass printing, and other relevant applications.

This report provides digital inks market statistics, including digital inks industry global market size, regional shares, competitors with a digital inks market share, detailed digital inks market segments, market trends and opportunities, and any further data you may need to thrive in the digital inks industry. This digital inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The digital inks market includes revenues earned by entities by providing API features, such as live updates, scribble to erase, and strikethrough to erase the writeup. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital inks market also includes sales of UV inks, LED inks, and printer parts which are used in providing printing services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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