The global digital printing ink market size was USD 3.21 billion in 2022. The market is slated to expand from USD 3.43 billion in 2023 to USD 5.54 billion by 2030, exhibiting a CAGR of 7.1% over the study period.
Digital printing ink is deployed for producing high quality text and images on various substrates such as fabric, plastic, and paper. The market growth is being driven by the need for personalized packaging designs and the rise of e-commerce.
Fortune Business Insights™ provides this information in its research report, titled “Digital Printing Ink Market, 2023-2030”.
Segmentation:
Solvent-based Segment Held Major Share Due to Rising Product Demand in Numerous Sectors
Based on type, the market ink is fragmented into UV-based, water-based, solvent-based, and others. The solvent-based segment registered a key market share in 2022. The segment growth can be attributed to the increasing product demand in the advertising, textiles, and packaging sectors.
Print Media Segment to Register Prominent Share Owing to Escalating Customized Prints Demand
By application, the market is subdivided into ceramics, textile, print media, packaging & labels, and others. The print media segment is poised to hold a major market share over the study period. The segmental expansion can be credited to the escalating demand for shorter print runs and customized prints.
Based on geography, the market for digital printing ink has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints:
Mounting Digital Printing Demand from Packaging, Textile, and Other Industries to Boost Industry Expansion
The escalating demand for digital prints from various sectors drives the digital printing ink market growth. These industries include advertising, packaging, textiles, and others. This can be attributed to the numerous advantages of the technology, including quick turnaround time, high-quality prints, and others.
However, the industry expansion may be restrained due to the high costs associated with the product.
Regional Insights:
North America Held Major Share Driven by Presence of Pivotal Players
North America registered a dominating share of the market in 2022. The regional market expansion can be credited to the presence of major players and the adoption of new technology in the region.
Browse Summary:
https://www.fortunebusinessinsights.com/digital-printing-ink-market-108924
