Water-based Inks Market

Water-based Inks Market Outlook (2023 to 2033)

The Water-based Inks Market size is projected to be worth USD 9,120.0 million in 2023. The market is likely to surpass USD 12,415.0 million by 2033 at a CAGR of 3.1% during the forecast period. Water-based inks are now widely utilized in nearly all printing processes and on most materials for a wide range of applications. Owing to the development of novel printing techniques and additives.

The water-based inks market is experiencing steady growth and gaining prominence as a sustainable alternative to solvent-based inks. These are formulated using water as a primary solvent, making them less harmful to the environment and human health.

Other Drivers Propelling the Demand for Water-based Inks include:

• Environmental Regulations: Stringent environmental regulations and increasing restrictions on volatile organic compounds (VOCs) have encouraged the adoption of water-based inks.
• Health and Safety Considerations: Water-based inks are less harmful to human health compared to solvent-based inks. Companies are prioritizing the health and safety of their employees and customers, driving the adoption of water-based inks.
• Packaging Industry Requirements: The packaging industry, including food and beverage packaging, is subject to stringent regulations regarding ink safety and compliance. The need for safe and compliant packaging solutions has boosted the demand for water-based inks.
• Technological Advancements: Manufacturers are investing in research and development to develop innovative formulations that offer vibrant colors, fast drying times, improved adhesion, and durability.
• Corporate Social Responsibility: Many companies are incorporating corporate social responsibility (CSR) initiatives into their business strategies. CSR efforts positively impact brand reputation and consumer loyalty.

Challenges for Companies /Manufacturers in the Market:

• Performance and Durability: Water-based inks may exhibit reduced resistance to water, chemicals, and abrasion, impacting their longevity and suitability for certain applications.
• Equipment and Infrastructure: Transitioning from solvent-based inks to water-based inks may require certain modifications or upgrades to printing equipment and infrastructure.
• Education and Awareness: Many end-users may have limited awareness and understanding of water-based inks and their benefits. Companies need to invest in educating and informing customers about the advantages of water-based inks. Dispelling misconceptions and promoting their environmental and safety benefits.
• Cost Considerations: Water-based inks can sometimes be more expensive than solvent-based inks. Primarily due to the higher cost of raw materials and additional production processes.

Opportunities in the Water-based Inks Industry:

• Market Expansion and Diversification: The water-based inks market offers opportunities for expansion and diversification into new applications and industries. Exploring new markets and applications can open doors to untapped customer segments and revenue streams.
• Technological Innovations: Manufacturers have the opportunity to invest in R&D and innovative formulations. As it improves the performance, durability, color range, and drying speed of water-based inks. Technological advancements can unlock new possibilities and enhance market competitiveness.
• Collaboration and Partnerships: Collaborative efforts can lead to the development of customized solutions, improved substrate compatibility, and optimized printing processes. Creating mutually beneficial opportunities for all stakeholders.
• Education and Awareness Campaigns: Educating end-users about the benefits and advantages of water-based inks presents an opportunity to create awareness and drive market adoption.

Recent Market Trends in the Water-based Inks:

• Increased Focus on Bio-based and Renewable Materials: Manufacturers are exploring sustainable alternatives to conventional raw materials, such as plant-based pigments and resins.
• Customization and Special Effects: Water-based inks are being increasingly used to achieve unique and customized printing effects. Manufacturers are developing formulations that offer special effects such as metallic finishes, gloss, texture, and embossing.
• Digital Transformation and E-commerce: The rise of e-commerce and online platforms is influencing the water-based inks market. Water-based inks enable cost-effective, on-demand printing, and are well-suited for short-run customization.
• Integration of Smart Technologies: Water-based inks are being integrated with smart technologies to enable functionalities. Such as anti-counterfeiting, track-and-trace, and interactive packaging.

Attribute	Details
Market Size (2023)	USD 9,120 million
Market Projected Size (2033)	USD 12,415 million
Value CAGR (2023 to 2033)	3.1%

2018 to 2022 Water-based Inks Demand Outlook Compared to 2023 to 2033 Forecast

The historical sales of water-based inks have demonstrated a positive growth trajectory of 2.0%. Driven by factors such as environmental regulations, sustainability initiatives, and consumer demand for eco-friendly products. As the market continues to evolve, the future demand for water-based inks is expected to further increase.

The Future Sales Outlook for the Market is Optimistic, Driven by Several Factors

Environmental regulations are expected to become even more stringent in the future, favoring the use of water-based inks. Governments and regulatory bodies are likely to promote the adoption of sustainable inks to reduce the environmental impact of printing processes.

The water-based inks market is witnessing growth in emerging markets and applications. Industries such as textiles, industrial printing, and digital printing are adopting water-based inks due to their eco-friendly nature and improved performance.

Based on these factors the market is likely to record a CAGR of 3.1% in the analysis period of 2023 to 2033.

Country-wise Insights

The United States is one of the Key Consumers of Printing Inks Globally, and within that, Water-based Inks have Gained a Significant Share of 18.7% in 2022.

The United States has stringent environmental regulations that have influenced the adoption of water-based inks. Regulations by agencies such as the Environmental Protection Agency (EPA) and state-specific agencies focus on reducing VOC emissions and promoting the use of environmentally friendly alternatives.

Consumer awareness of environmental issues and their preference for sustainable products have played a significant role in the adoption of water-based inks. Consumers in the United States are increasingly seeking products that align with their values and have a lower environmental impact.

Rising Demand for Water-based Inks in Food and Beverages Industries to Propel the Europe Market Growth

Europe is one of the influential markets for water-based inks, capturing a market share of 17.9% in 2022. The region has witnessed a shift towards sustainable packaging materials, driven by consumer preferences and regulatory requirements. European countries actively promote collaboration between industry players, research institutions, and governmental bodies to drive sustainability initiatives in the printing industry. These collaborations foster innovation, knowledge sharing, and the development of environmentally friendly solutions like water-based inks. Such initiatives have created a supportive ecosystem for the growth of the water-based inks market in Europe.

India has Emerged as a Leading Player in the Water-based Inks Market, Witnessing a Progressive Growth of 6.0%.

India has a significant share in the water-based inks market and has been experiencing steady growth. Factors driving this growth include increasing environmental awareness, the expansion of the packaging industry, regulatory support, technological advancements, and the demand for sustainable printing solutions. The government's focus on reducing VOC emissions and promoting eco-friendly practices has further fueled the adoption of water-based inks in India. The market is expected to continue expanding as more businesses and consumers prioritize environmentally friendly printing solutions.

The United Kingdom has a Mature Printing Industry and a Strong Market for Water-based Inks

The United Kingdom is witnessing a growth of 2.1% between 2023 to 2033. The market has experienced steady growth, driven by factors such as environmental regulations, sustainability initiatives, and the increasing demand for eco-friendly printing solutions.

Consumer awareness and demand for sustainable products have played a significant role in the adoption of water-based inks in the United Kingdom. Consumers are increasingly seeking environmentally friendly options, and businesses are responding by adopting water-based inks to meet this demand.

Category-wise Insights

Flexographic is Highly Adopted by Manufacturers in the Printing Processes, Contributing a Market Share of 20.1% in 2022

Flexography is a popular printing process used for various applications such as packaging, labels, and corrugated materials. The use of water-based inks in flexographic printing has gained traction due to their eco-friendliness, low VOC emissions, and compliance with regulatory standards.

The ability of water-based inks to adhere well to a wide range of substrates makes them suitable for flexographic printing on materials like paper, cardboard, and flexible packaging. As the demand for sustainable and environmentally friendly printing solutions continues to rise, the flexographic segment is expected to contribute significantly to the growth of the water-based inks market.

Based on End-users, the Food and Beverages Segments Hold the Command Over Others.

The food and beverage sector holds a prominent share of 43.2% in the global market. Water-based inks are widely used for printing on food packaging materials, including cartons, labels, flexible packaging, and beverage cans.

The stringent safety and regulatory requirements for food contact materials make water-based inks a preferred choice. They offer low levels of migration, ensuring that the ink does not transfer to the food or beverage product, thereby maintaining its safety and quality.

Additionally, water-based inks are non-toxic, odorless, and environmentally friendly, aligning with the industry's increasing focus on sustainability. As consumer demand for safe and sustainable food packaging grows, the food and beverages segment is expected to continue driving the demand for water-based inks.

Competitive Landscape

The competitive landscape in the water-based inks market is characterized by the presence of several key players, both global and regional, vying for market share. These companies compete based on factors such as product offerings, technological advancements, pricing strategies, distribution networks, and customer relationships.

Key market players operating in the water-based inks market include DIC Corporation; Flint Group; Hubergroup; Sakata Inx Corporation; Siegwerk Druckfarben AG & Co. KGaA; T&K TOKA Co. Ltd.; Toyo Ink SC Holdings Co., Ltd.; Fujifilm Holdings Corporation; American Inks & Technology; and Wikoff Color Corporation.

Recent Developments:

• Epple Druckfarben AG and Zeller+Gmelin GmbH & Co. KG collaborated in the field of UV ink technology in May 2021. The initial outcome of this collaboration is a jointly created UV-LED ink for sheetfed offset printing. The items are designed for various applications and be marketed globally by Epple under the LightStar brand.
• Poteet Printing Systems paid an unknown sum to acquire the Flint Group. The firm specializes in color management techniques, develops, manufactures, and markets a diverse portfolio of printing consumables and printing equipment. This acquisition is an important component of Flint Group Packaging's ambition to grow not only organically but also through acquisition.

Segmentation Analysis of the Water-based Inks Market  

By Printing Process:

• Flexographic
• Gravure
• Lithographic
• Digital
• Screen
• Others (Letterpress, etc.)

By Application:

• Packaging and Labeling
• Publishing and Printing
• Textiles
• Flexible Films and Laminations
• Others (Decorative Printing, Wallpaper, etc.)

By Colorants:

• Organic
• Inorganic
• Metallic
• Fluorescent
• Specialty

By End Use:

• Food and Beverage
• Pharmaceuticals and Healthcare
• Personal Care and Cosmetics
• Textiles and Apparel
• Paper and Packaging
• Others (Automotive, Electronics, etc.)

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East & Africa

Frequently Asked Questions

What is the Growth Potential of the Water-based Inks Market?

The growth potential of the market is 3.1% through 2033.

What Limits the Growth Potential of the Market?

Expensive costs are likely to limit market growth.

What is Japan’s Expected Growth by 2033?

Rising technological advancements are fueling Japan’s growth by 2033.

What is the Current Market Valuation?

The market is estimated to attain a valuation of USD 9,120 million in 2023.

Which Country is Set to Register Exponential Growth in the Global Market?

The United Kingdom, the United States, and India may witness significant growth in the market.