By 2032, industry is expected to consistently expand at a 5.8% CAGR. According to FMI, the eco-friendly inks market is expected to expand its revenue share from US$ 4.3 billion in 2022 to US$ 7.5 billion by 2032.
Newspaper associations all around the world have been searching for new ink production methods for the past 20 years. Previously, all the associations related to the print media used petroleum-based inks that are costlier owing to fluctuating oil prices as well as responsible for environmental issues as they contain high levels of Volatile Organic Compound (VOC).
Key businesses are prepared to launch eco-friendly inks made from vegetable oil that are free of VOC after years of study because VOC is bad for indoor air quality and human health. The American Lung Association claims that VOCs are dangerous on their own and that some of them can combine with other gases to create other air pollutants. For food packaging or anything else that will likely come into touch with food, vegetable-based inks are suggested.
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Market Dynamics: Eco-Friendly Inks Market
Innovations in technology, increasing focus on R&D, environmental concerns and the development of cost-effective end products are among the key drivers of the eco-friendly inks market. In addition, stringent regulations across the world are forcing key players to focus on producing eco-friendly inks instead of conventional inks.
However, certain factors, such as the higher price of eco-friendly ink as compared to conventional ink and the lower supply of eco-friendly ink as compared to demand, are among factors likely to restrict the growth of the market. Key players have the opportunity to develop as well as produce eco-friendly ink.
Some of the key players are investing in eco-friendly inks in order to meet stringent environmental regulations formulated to mitigate pollution caused from discharge of other inks in environment.
Regional Outlook: Eco-Friendly Inks Market
Over the past couple of years, there has been remarkable growth in the demand for eco-friendly inks to reduce volatile organic compounds as well as the environmental load. Globally, key players are undertaking initiatives to protect the environment, especially in Asia Pacific and Western Europe. The China eco-friendly inks market is gaining traction owing to an upsurge in the demand for bio-based eco-friendly inks.
China is expected to dominate the eco-friendly inks market by the end of the forecast period. In Western Europe, market key players are focusing on expanding the production of eco-friendly inks to meet the global demand. The China eco-friendly inks market is expected to register noticeable growth in the near future.
Furthermore, the North America eco-friendly inks market is expected to witness moderate growth. However, the Middle East & Africa (MEA) and Latin America regions are likely to register weak growth during the same period.
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Examples of some of the key players identified across the value chain of the eco-friendly inks market are:
- Sun Chemical
- Toyo Ink LLC
- 3INX International Ink Co.
- Hubergroup
- Gans Ink
- Earth Inks Group
- SYNTHOTEX CHEMICALS PVT. LTD.
The research report presents a comprehensive assessment of the eco-friendly inks market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
Eco-friendly inks also contains projections using a suitable set of assumptions and methodologies. The eco-friendly inks report provides analysis and information according to market segments such as geographies, application, and industry.
Market Segmentation: Eco-Friendly Inks Market
The eco-friendly Inks market is segmented on the basis of product type and application.
On the basis of product type, the eco-friendly inks market segmented as:
- Soy-based Ink
- Flint Ink
- Others
On the basis of application, the eco-friendly Inks market segmented as:
- Label & packaging
- Commercial Printing
- Publications
- Others
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The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with eco-friendly inks market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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