The water based inks market by type includes flexo inks, gravure inks, screen printing inks, by product type includes acrylic water-based inks, maleic water-based inks, shellac water-based inks.
LONDON, July 27, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the water-based printing inks market, as pigments can easily be duplicated and differentiating between different brands is an increasing difficult task, the latest trend in the water-based printing ink market has been an increase in consultancy. The main challenge for water-based printing ink companies had been to establish and differentiate themselves from the companies dealing in plastisol inks. To tackle such problems, water-based ink manufacturers are offering a non-segregated solution, consultations for selecting the right ink, technical advice for selecting machines, and any operational support.
For instance, in 2020, Windmoller and Holscher (W&H) printing experts had started to offer technical advice on how package printers can temporarily switch their machines, designed for solvent-based inks, to water-based inks. They also give general tips on the use of water-based inks and on the efficient cleaning process after switching to water-based inks. Another example of a consultancy that helps users select the water-based printing inks that is right for them is based in Chennai, Tamil Nadu – Jasper Stone Consultants. They provide insights about their products to ensure that they meet all governmental or state rules or regulations concerning product safety and environmental standards. Jasper Stone Consultants continue to take environmental responsibilities seriously.
The Business Research Company’s report titled Water-Based Printing Inks Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major water based printing inks companies, water based printing inks market share by company, water based printing inks manufacturers, water based printing inks market size, and water based printing inks market forecasts. The report also covers the global water based printing inks market and its segments.
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Water Based Printing Inks Market Share, Size And Industry Growth Rate
The global water based printing inks market size is expected to grow from $10.84 billion in 2020 to $11.36 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.36 billion in 2025 at a CAGR of 4%.
Asia Pacific was the largest region in the water-based printing inks market, accounting for 36.3% of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the water-based printing inks market will be South America and Eastern Europe where growth will be at CAGRs of 7.5% and 7.2% respectively. These will be followed by Africa, and the Middle East, where the markets are expected to grow at CAGRs of 6.5% and 5.9% respectively.
Water Based Printing Inks Competitive Landscape
The global water-based printing inks market is fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 19.93% of the total market in 2020. This can be due to the existence of number of local players in the market serving customers in particular geographies. DIC Corporation was the largest competitor with 4.93% share of the market, followed by Flint Group with 4.11%, Siegwerk Druckfarben Ag & Co. KGaA with 3.14%, Sakata Inx with 2.56%, Toyo Ink SC Holdings Co., Ltd. with 2.24%, T & K Toka Co., Ltd. with 1.07%, Huber Group with 1.02%, Tokyo Printing Ink Mfg. Co., Ltd. with 0.32%, Fujifilm North America with 0.29%, and Nazdar Ink Company with 0.26%.
The water-based printing inks market has recently seen a consolidation in the industry with a significant number of mergers and acquisitions. Top companies in the printing inks market are strategically acquiring and merging with start-ups and mid-sized companies to broaden their products and services range or enter emerging regions. For instance, in October 2020, Flint Group Packaging Inks, headquartered in Michigan, United States, announced the acquisition of Poteet Printing Systems LLC for an undisclosed amount. Poteet Printing Systems manufactures and sells water-based inks for Flexographic applications to printer converters across the USA, with production facilities in Charlotte, North Carolina and Fort Worth, Texas. This investment by Flint Group is an example of its strategy to grow business in key packaging markets, such as Paper & Board and further strengthen the business by growing not only organically, but also via acquisition.
Water-Based Printing Inks Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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