by The global Latex Ink Market is estimated to be valued at US$ 19.82 Bn or Mn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Latex ink is a water-based ink made by the dispersion of pigment particles in an aqueous medium by using latex binders. It provides benefits such as no odor emissions, resistance to water, and better color consistency compared to conventional ink. Latex ink is primarily used for applications where aqueous ink is preferred over traditional oil-based or UV curable ink due to its eco-friendly properties.
Market key trends:
One of the key trends in the latex ink market is the rising demand for latex ink from digital printing applications. Latex ink is gaining widespread acceptance in digital printing owing to its high dot placement accuracy, superior adhesion to various substrates like paper, vinyl, and textiles, and ability to deliver high-quality images at fast printing speeds. It allows achieving optimized optical density and color consistency even at high speeds. Additionally, latex ink does not clog printer nozzles, providing consistent and reliable printing performance over long runs. The development of new latex ink formulations compatible with varied printing technologies is further augmenting the demand.
SWOT Analysis
Strength: Latex ink offers high-quality printing with excellent color richness and lightfastness. It has fast drying properties and provides resistance to water, smudging, and fingerprints.
Weakness: Latex inks tend to be more expensive than other printing inks. They require expensive printer hardware as well.
Opportunity: Increasing applications of latex ink in signage, industrial marking, and textile printing offer significant growth opportunities. Growing demand for high-quality prints is also boosting the market.
Threats: Availability of alternate printing technologies like UV-curable inks poses threats to the latex ink market. Stringent environmental regulations also restrict the use of certain chemicals in latex inks.
Key Takeaways
Global Latex Ink Market Demand is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing applications of latex ink in signage and industrial marking.
Regional analysis: Asia Pacific dominates the global latex ink market and is expected to grow at the fastest rate during the forecast period. This can be attributed to the growth of printing industries in China and India. North America and Europe are also major markets for latex inks.
Key players operating in the latex ink market are HP Inc. (United States), Epson Corporation (Japan), Canon Inc. (Japan), Roland DG Corporation (Japan), Mimaki Engineering Co., Ltd. (Japan), Seiko Epson Corporation (Japan), DuPont de Nemours, Inc. (United States), Agfa-Gevaert N.V. (Belgium), Fujifilm Holdings Corporation (Japan), Sun Chemical Corporation (United States), Sawgrass Technologies, Inc. (United States), Sensient Technologies Corporation (United States), Marabu GmbH & Co. KG (Germany), Nazdar Ink Technologies (United States), JK Group (Italy). Key players are focusing on new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
