Water-based Inks Market is Expected to Progress at a CAGR of 3.1% by 2033 | Future Market Insights, Inc.

Water-based Inks Market

The water-based inks market is projected to reach a value of USD 9,120.0 million in 2023 and is expected to exceed USD 12,415.0 million by 2033. The market is capturing a CAGR of 3.1% during the forecast period.

Water-based inks are gaining popularity as a sustainable alternative to solvent-based inks due to their environmental friendliness.

Drivers for the demand for water-based inks include stringent environmental regulations, health and safety considerations, packaging industry requirements, technological advancements, and corporate social responsibility initiatives.

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However, companies in the market also face challenges such as performance and durability limitations, equipment and infrastructure adjustments, education and awareness gaps, and cost considerations.

Opportunities in the industry lie in market expansion, technological innovations, collaborations and partnerships, and education and awareness campaigns.

Ongoing trends in the market include the focus on bio-based and renewable materials, customization and special effects, digital transformation and e-commerce, and integration of smart technologies.

Key Takeaways: Water-based Inks Market

  • Europe holds a 17.9% share of the market, driven by increased demand for sustainable packaging and regulatory pressures, fostering innovation in water-based inks.
  • The United States captures an 18.7% market share, driven by strict environmental regulations and growing consumer preference for eco-friendly products.
  • India’s water-based inks market is growing steadily at 6.0%, fueled by expanding packaging needs, environmental awareness, and technological advancements.
  • The United Kingdom demonstrates a mature printing industry with a projected growth rate of 2.1% between 2023 and 2033, supported by sustainability initiatives and demand for eco-friendly solutions.

Prominent Drivers of the Water-based Inks Market

  1. Eco-Friendly Demand
    Increasing consumer and regulatory emphasis on environmentally friendly products has driven the adoption of water-based inks, which contain fewer volatile organic compounds (VOCs) compared to solvent-based alternatives.
  2. Growing Packaging Industry
    The booming e-commerce and food packaging sectors demand high-quality, sustainable printing solutions, boosting the use of water-based inks for flexible packaging, labels, and corrugated boxes.
  3. Advancements in Printing Technology
    Innovations in water-based ink formulations have improved their performance, including better adhesion, faster drying times, and compatibility with a wider range of substrates, encouraging adoption across industries.
  4. Stringent Environmental Regulations
    Governments worldwide are implementing stricter regulations to reduce VOC emissions and promote sustainable practices, propelling the shift toward water-based inks in printing applications.
  5. Rising Demand for Customization and Branding
    The growing trend of personalized and vibrant packaging for product differentiation has fueled the demand for high-resolution and vibrant water-based inks in various printing techniques, such as flexography and gravure.

Competitive Landscape

The water-based inks market is competitive, with several key competitors fighting for market share, both globally and regionally. These businesses compete based on product offerings, technical improvements, price tactics, distribution networks, and customer connections.

Key market players operating in the water-based inks market include DIC Corporation; Flint Group; Hubergroup; Sakata Inx Corporation; Siegwerk Druckfarben AG & Co. KGaA; T&K TOKA Co. Ltd.; Toyo Ink SC Holdings Co., Ltd.; Fujifilm Holdings Corporation; American Inks & Technology; and Wikoff Color Corporation.

Recent Developments:

  • DIC Corporation and BASF SE: In 2020, DIC Corporation, a leading Japanese ink manufacturer, announced a strategic collaboration with BASF SE, a global chemical company.
  • Siegwerk and Agfa Graphics: Siegwerk, a global provider of printing inks for packaging applications, partnered with Agfa Graphics, a leading supplier of prepress and inkjet systems, in 2018.
  • Toyo Ink Group and DYO Printing Inks: Toyo Ink Group, a Japanese ink manufacturer, acquired DYO Printing Inks, a leading Turkish ink company, in 2019. The acquisition aimed to strengthen Toyo Ink Group’s presence in the European and Middle Eastern markets for water-based inks.

Segmentation Analysis of the Water-based Inks Market  

By Printing Process:

  • Flexographic
  • Gravure
  • Lithographic
  • Digital
  • Screen
  • Others (Letterpress, etc.)

By Application:

  • Packaging and Labeling
  • Publishing and Printing
  • Textiles
  • Flexible Films and Laminations
  • Others (Decorative Printing, Wallpaper, etc.)

By Colorants:

  • Organic
  • Inorganic
  • Metallic
  • Fluorescent
  • Specialty

By End Use:

  • Food and Beverage
  • Pharmaceuticals and Healthcare
  • Personal Care and Cosmetics
  • Textiles and Apparel
  • Paper and Packaging
  • Others (Automotive, Electronics, etc.)

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & 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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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