The Eco-friendly Inks Industry is poised for robust and sustained growth, with a projected Compound Annual Growth Rate (CAGR) of 5.8% expected to drive the industry forward. According to FMI’s analysis, this growth will translate into a significant increase in revenue share, with the market expanding from US$ 4.3 billion in 2022 to reach US$ 7.5 billion by the year 2032.
Increasing awareness of environmental issues and the introduction of stringent legal regulations regarding the utilization of eco-friendly inks within the printing industry serve as the primary catalysts for market growth. This heightened consciousness has resulted in a surging demand for eco-conscious printing technologies, encompassing digital printing, 3D printing, and UV printing.
One of the primary drivers of this growth is the increasing concern over Volatile Organic Compound (VOC) emissions. The presence of harmful metals in conventional ink printing solutions has led to a compelling shift within the industry towards eco-friendly ink alternatives.
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Competitive Analysis
Prominent players in the Eco-friendly Inks Industry are strategically focusing on product innovation to offer a diverse array of ink solutions that cater to the surging demand from environmentally conscious consumers.
Furthermore, to expand their reach and capture a larger customer base, these companies are diligently enhancing their distribution networks. In a bid to solidify their market presence and stay competitive, eco-friendly inks businesses are also forging strategic alliances and partnerships to reinforce their position in the industry.
Recent Developments
- The Flint Group introduced an ultraviolet (UV) ink solution for flexible packaging in April 2016. Excellent printing quality, process stability, and great transfer efficiency are all features of this ink system.
- “Ink Answers” is a comprehensive digital search engine that Kao Collins Inc., a well-known producer of industrial inkjet inks, introduced in July 2021. It connects inks with substrates used in label and narrow web printing.
- Sun Chemical won the Tag & Label Manufacturers Institute’s Calvin Frost Sustainability Leadership Journey Award for Suppliers in October 2022.
Drivers:
- Environmental Awareness: Growing concern for environmental issues, such as pollution and resource conservation, has led to increased demand for eco-friendly inks. Consumers and businesses are seeking sustainable alternatives.
- Regulatory Compliance: Stringent environmental regulations and government policies that encourage the use of environmentally friendly products and practices have driven the adoption of eco-friendly inks.
- Health and Safety: Eco-friendly inks are often considered safer for both the environment and human health. This makes them an attractive option for industries where employee health and safety are a priority.
- Consumer Preferences: Many consumers are actively choosing products that align with their environmental values. Brands are responding by using eco-friendly inks for packaging and labeling to meet consumer preferences.
- Advancements in Technology: Ongoing research and development in the printing industry have resulted in improved eco-friendly ink formulations, making them more viable and practical for a broader range of applications.
- Cost-Efficiency: Eco-friendly inks, in some cases, can offer cost-efficiency through reduced waste, lower energy consumption, and other eco-friendly printing practices.
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Key Players:
- 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
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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