Thermal Inkjet Inks Market

Thermal Inkjet Inks Market Outlook (2023 to 2033)

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?

• Thermal inkjet printers are cost-efficient options for printing and printing at a faster speed with superior finish quality. These printers can print on various surfaces, which include specialty and regular papers, metals, plastics, and cartons. Thermal printers are user-friendly and need little to no training or practice. Also, they are instantly ready to use as they do not have to warm up or cool down. These beneficial aspects result in the growing demand for thermal inkjet inks.
• The growing retail sector leads to increasing demand for fast-moving consumer goods, and an escalated retail sector worldwide stirs the growth of the market. Moreover, swift urbanization in developing economies has a lucrative impact on the global market of this industry.
• Numerous industries, such as medical devices and pharmaceuticals, cosmetics, chemicals, automotive and aerospace, personal and home care, electrical components, electronics, etc., widely use thermal inkjet printers, influencing the market further.
• Thermal inkjet inks have higher applications in the packaging industry. Prolonged working hours and altering lifestyles are resulting in consumers' dependency on packaging foods. The growing demand for packaging products increases the demand for packaging and printing machines.
• Thermal inkjet printers are more efficient and cost-effective; therefore, they are widely used globally. Small-scale packaging manufacturers primarily consume thermal inkjet inks, especially for printing logos, dates, graphics, texts, and barcodes on the substrates.

Country-wise Insights

Why Does North America Hold the Majority Market Share?

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.

How is The Europe Market Fairing?

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.

How Does the Market Look for New Entrants?

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.

Recent Developments

• HP Inc. announced that it is set to acquire Poly, a global leader in workplace collaboration solutions, for an enterprise value of USD 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.

Key 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.

Key Segments Covered

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)

Frequently Asked Questions

What is the Market Size in 2023?

The market is valued at USD 1.21 billion in 2023.

Which are the Key Players in the Market?

Videojet Technologies, Inc., Mylan Group, and Rex-Tone Industries Ltd are key players.

What the Market May Expand by 2033?

The market may reach USD 1.99 billion by 2033.

What was the Market Share in North America in the Past?

North America accounted for 31% of market share in 2022.

Which Trends are Prevalent in the Thermal Inkjet Inks Market?

High speed and high-quality printing option may transform the market.