The global thermal inkjet inks market is projected to grow at a steady CAGR of 5.1% from 2023 to 2033, with an expected market value of USD 1.99 billion by the end of the forecast period, up from USD 1.21 billion in 2023. This growth trajectory underscores the rising demand for thermal inkjet printers across various end-user industries due to their versatility and efficiency in high-speed printing applications.
Thermal inkjet inks play a critical role in delivering the superior adhesion, sharpness, and rub resistance essential for high-quality print outcomes. Leveraging thermal or electrical energy to heat ink, thermal inkjet technology—often known as bubble jet printing—enables rapid ink transfer onto a range of surfaces, making it an affordable and adaptable solution for printing labels, barcodes, and receipts across industries.
The durability of thermal inkjet inks, which exhibit strong water and fade resistance, is also a significant factor driving market adoption. Unlike other inks, thermal inkjet inks can maintain their integrity over prolonged periods, enhancing their appeal for applications that demand long-lasting print quality.
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Additionally, UV fluorescing ink options, which are colorless in standard light but glow under black light, are gaining traction among manufacturers due to their utility in specialized applications.
While thermal inkjet inks offer numerous advantages, there are technical challenges, such as the risk of clogging due to high ink temperatures that impact print speed and efficiency. Addressing these challenges continues to be a focus for manufacturers as they strive to optimize product performance.
Prominent Drivers of the Thermal Inkjet Inks Market
- Growing Demand for High-Quality Printing: The increasing need for high-quality, precise printing in various industries such as packaging, labeling, and textiles drives the demand for thermal inkjet inks, known for their sharp, vibrant colors and fine detail.
- Expansion of E-Commerce and Retail Packaging: As e-commerce and retail packaging continue to grow, the demand for efficient, high-quality, and customizable printing solutions like thermal inkjet inks rises, particularly for product labeling, barcodes, and QR codes.
- Advancements in Printing Technology: Ongoing innovations in thermal inkjet technology have improved print speed, color accuracy, and durability, boosting the market for thermal inkjet inks in both industrial and consumer applications.
- Increased Focus on Sustainability: The shift toward eco-friendly and sustainable packaging solutions, including the use of water-based and low-VOC (volatile organic compound) thermal inkjet inks, is driving growth in the market as businesses seek environmentally responsible printing options.
- Rising Demand in the Food and Beverage Industry: The food and beverage sector’s increasing need for precise and efficient printing for expiry dates, batch codes, and ingredient lists has spurred the use of thermal inkjet inks, known for their fast drying time and high reliability on various substrates.
Key Players
- Videojet Technologies, Inc.
- Union Chemical Co., Ltd
- Mylan Group
- Rex-Tone Industries Ltd
- HP Development Company, L.P.
- Digital Ink Technologies Pty Ltd
- Linx Printing Technologies Ltd.
Recent Developments
- HP Inc. announced that it is set to acquire Poly, a global leader in workplace collaboration solutions, for an enterprise value of US$ 3.3 billion. This acquisition stirs HP’s strategy to make a more growth-oriented portfolio. It also strengthens its industry opportunity in hybrid work solutions.
- Videojet Technologies, a giant in coding and marking solutions, and Software, a leader in Enterprise Labeling and Artwork Management solutions, announced a strategic partnership to alter how companies automate printing across production lines, warehouses, and factories.
- Digital Ink Technologies Pty Ltd has launched its ink engineering and manufacturing space for custom ink engineering and enhanced printer performance. Along with thermal inkjet ink, the brand produces UV/LED inkjet inks, water-based inkjet inks, and eco-solvent inkjet inks.
Key Segments Covered
By Substrate Type:
- Porous
- Non Porous
By Packaging Type:
- Automotive
- Chemical
- Agriculture
- Oil and Gas
- Research and Development
- Others
By End User:
- Food & Beverage Industry
- Consumers Goods
- Cosmetics & Personal Care
- Industrial Goods
- Automotive Industry
- Electrical & Electronics
- Others
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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