The Thermal Inkjet Inks Industry is anticipated to thrive at a slow-paced CAGR of 5.1% between 2023 and 2033. The market is expected to have a market share of US$ 1.99 billion by 2033, while it is likely to be valued at US$ 1.21 billion in 2023.
The thermal inkjet printers market is experiencing a significant surge in demand due to its versatile applications in various industries. Central to the effectiveness of thermal inkjet printers is the thermal inkjet ink, a critical printing material known for its exceptional adhesion properties, sharp output, and resistance to smudging and rubbing.
This unique set of attributes renders thermal inkjet inks ideal for tasks involving label printing, barcodes, and receipt generation. In thermal inkjet printing, the ink is subjected to temperatures of up to 300 degrees Celsius, causing it to transform into a consistent solution before being precisely ejected through a tiny nozzle.
The Thermal Inkjet Inks Industry is poised for substantial growth in the forecast period, driven by several factors. These inks are known for their resistance to water and fading, ensuring that prints maintain their quality for extended periods compared to other ink types. Moreover, a majority of the leading thermal inkjet ink manufacturers are producing UV fluorescing thermal inkjet inks, which exhibit a unique property of fluorescing under black light while remaining colorless under white light. These distinct characteristics are enhancing the preference for thermal inkjet inks among printing manufacturers on a global scale.
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Drivers:
- Versatile Applications: Thermal inkjet inks are widely used in various industries due to their versatile applications. They are utilized for tasks such as label printing, barcode generation, and receipt production, making them a valuable tool in a range of sectors.
- Adhesion Properties: Thermal inkjet inks are known for their superior adhesion properties, ensuring that prints adhere effectively to various surfaces, including labels and packaging materials.
- Sharpness: These inks deliver sharp and clear prints, making them suitable for applications where precision and readability are crucial, such as barcode labeling.
- Smudge Resistance: Thermal inkjet inks are resistant to smudging and rubbing, ensuring that printed materials maintain their quality and appearance over time.
- Longevity: These inks are designed to have a long lifespan and remain intact for extended periods, even in challenging environmental conditions.
- UV Fluorescence: Many thermal inkjet ink manufacturers produce UV fluorescing inks that exhibit unique fluorescence under black light, enhancing their application in security and authentication printing.
Restraints:
- Clogging: One of the primary challenges with thermal inkjet inks is the risk of clogging in the printer’s nozzles. This can lead to reduced printing speed, ink wastage, and decreased printing efficiency.
- Maintenance: Thermal inkjet printers may require more frequent maintenance to prevent and address nozzle clogs, which can increase operating costs and downtime.
- Limited Color Range: Thermal inkjet inks may have a limited color range compared to other ink types, which could restrict their suitability for color-critical applications.
- Temperature Sensitivity: Thermal inkjet inks are sensitive to temperature variations, and their performance may be affected by environmental conditions. Maintaining consistent temperatures is crucial for optimal inkjet printing.
- Cost: The cost of thermal inkjet inks and printers can be relatively high, which may limit their adoption, especially for small businesses with budget constraints.
- Competition: The Thermal Inkjet Inks Industry faces competition from other printing technologies, such as laser printing and UV inkjet printing, which offer alternative solutions for various printing needs.
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Major 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.
Competitive Landscape
The key suppliers focus on affordable prices, high-quality ink, and enhanced texture. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market 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.
- Linx Printing Technologies Ltd. It has introduced its special adherence inks and food-grade inks containing edible raw materials.
Segmentation:
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
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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