The thermal inkjet inks market is anticipated to flourish at an average CAGR of 5.1% between 2023 and 2033. The market is expected to hold a market share of USD 1.99 billion by 2033, while the market is likely to reach a value of USD 1.21 billion in 2023.
The demand for thermal inkjet printers is escalating since they are broadly used because of their multiple applications across several end-user industries. Thermal inkjet inks are a printing material in thermal inkjet printers; they have superior adhesion properties, sharpness, and rub resistance.
| Attributes | Details |
|---|---|
| Thermal Inkjet Inks Market CAGR (2023 to 2033) | 5.1% |
| Thermal Inkjet Inks Market Size (2023) | USD 1.21 billion |
| Thermal Inkjet Inks Market Size (2033) | USD 1.99 billion |
Thermal inkjet technology is printers often referred to as bubble jet printers. These printers use thermal energy or electricity to heat ink and apply it to a given source. Sales of thermal inkjet inks may soar as they render a cheaper alternative for high-speed printing and can print on a variety of surfaces.
Such features make them suitable for printing labels, barcodes, and receipts. Thermal inkjet inks are heated up to 300 degrees centigrade, and the heated ink transforms into a consistent solution, which is ejected via a thing nozzle. Nonetheless, while one ink gets heated, the other remains at room temperature. Therefore, inks could get clogged in the printers, and this might impact the printing efficacy. Clogging of the inks hinders the printing speed, results in wastage of the ink, and reduces printing efficiency.
The thermal inkjet inks market is likely to witness considerable growth during the forecast period owing to factors such as these inks are water resistant and fade resistant and, therefore, can stay for a prolonged period compared to other inks. The majority of the primary thermal inkjet ink manufacturers generate UV fluorescing thermal inkjet inks, and they fluoresce in black light and are colorless in white light. These features of thermal inkjet ink are improving its preference among printing manufacturers globally.
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What are the Key Trends Driving Sales of Thermal Inkjet Inks?
North America recorded a 31% market share in the global thermal inkjet inks market in 2022. Several factors contribute to the market's growth in this region, such as the frantic lifestyles of consumers. There is a growing demand for ready-to-eat foods, which results in increasing on-the-go food consumption habits. This results in the packaging industry's expansion of thermal inkjet inks.
The surging need for printing inks from several industries, such as publishing, packaging, and textiles, continues to be in demand. Also, the invention of novel printing ink applications like screen printing, digital orienting, and specialty printing is anticipated to promote the growth of the North American thermal inkjet market.
Europe's thermal inkjet inks market held a steady 22% market share in the global market in 2022. Swift growth in the advertisement industry, along with the growing need for enhanced printing with higher resolution and in a cost-effective manner, is predicted to promote the growth of the European market during the forecast years. The growing global packaging industry, coupled with swift operating speeds rendered by thermal inkjet printers, is likely to fuel the growth of thermal inkjet inks for the packaging industry. Also, the European market is quite fragmented, with significant local and regional players rendering several solutions for companies investing in the market arena.
Thermal inkjet printers are globally considered cost-efficient; therefore, several new market entrants are vouching to invest in this industry and compete with the existing players. Manufacturers stay invested in advanced technology to outperform their competitors. Thermal inkjet printing continues to generate a potential area of development for inkjet technology. Moreover, despite technological advancements, these printers are comparatively priced lower than other marking and coding technology. With further developments on improving overall ink systems for economic and environmental efficacy, market players strive to make a better and simpler coding and marking experience.
Key Players
The market is valued at USD 1.21 billion in 2023.
Videojet Technologies, Inc., Mylan Group, and Rex-Tone Industries Ltd are key players.
The market may reach USD 1.99 billion by 2033.
North America accounted for 31% of market share in 2022.
High speed and high-quality printing option may transform the market.
| Market Value (2023) | USD 13.3 billion |
|---|---|
| Market Expected Value (2033) | USD 28.4 billion |
| Market Projected CAGR (2023 to 2033) | 7.8% |
| Market Value (2022) | USD 63.10 Billion |
|---|---|
| Market Value (2032) | USD 96.13 Billion |
| Market CAGR (2022 to 2032) | 4.3% |
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Thermal Inkjet Inks Market
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