The resounding call for sustainable development has reverberated in countries around the world. This has driven manufacturers across various industries to incorporate green innovation and eco-friendly practices into their business processes. In this context, the water-based inks market has undergone significant change, particularly in the Asia Pacific. The use of water-based inks aids in reducing hazardous waste production; this is the foremost growth driver of the water-based inks market. Moreover, ongoing innovations in water-based inks technology, including new ways to use resins in ink formulation and the development of pH-stable inks are expected to unlock lucrative opportunities in the water-based inks market. Over the study period, extensive use of these inks in the packaging industry is anticipated to create fresh business prospects in the global water-based inks market.
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Soaring Demand from Packaging Industry Creates Prospects for Water-based Inks Market
Water-based inks contain co-solvents with water as the primary solvent. This composition helps these inks to reduce the heat and time needed to cure ink film on fabric. Consequently, water-based inks have several advantages in terms of flow characteristics, colour, gloss, and surface appearance. Additionally, high-tech developments in the water-based inks market have led to the creation of inks that have lower inflammability while being simpler to clean. Owing to these benefits, water-based inks are quite popular in the packaging industry. In the foreseeable future, the global packaging industry is set to witness promising business growth, with an increase in demand for flexible packaging and superior printing inks. This factor will, in turn, soar the demand for water-based inks during the study period.
Thriving E-commerce Industry to Open New Business Prospects for Water-based Inks Market
Over the past few years, the e-commerce industry has observed unprecedented growth and expansion. Every day, more and more consumers turn to online channels to purchase goods for their routine needs. The booming e-commerce industry has positively impacted the demand for water-based inks as they are actively used in the packaging of e-commerce products. In the coming years, expansion of the global water-based inks market will be tied to the growth in the e-commerce industry. The ever-evolving trend of online shopping, especially among urban settings and the youth, is set to unleash fresh revenue outcomes for the water-based inks market. Furthermore, to offer unique customer experiences, vendors in the e-commerce industry are expected to experiment with customised and high-quality packaging, creating sound growth prospects for the water-based inks market.
Asia Pacific Emerges as the Leader in Water-based Inks Market amid Rising Demand for Consumer Goods
The Asia Pacific is fast-rising as the most prominent region in the global water-based inks market. This region is replete with novel opportunities for key vendors of the packaging industry as online shopping continues to gain momentum in countries like India, Japan, and China. Moreover, the APAC attracts high FDI owing to greater ease of doing business and the presence of a large population base. Consequently, these reasons are predicted to increase the demand for goods bought online, creating growth prospects for its water-based inks market.
Major Market Players
Prominent players of the global water-based inks market include DIC Corporation (Japan), Toyo Ink S.C. Holdings (Japan), Siegwerk Druckfarben AG Co. KGaA (Germany), Flint Group (Luxembourg), TK Toka (Japan), and Sakata Inx (Japan).
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