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Digital Inks Market Market Share, Strategies, Emerging Technologies, Growth Rate Analysis and Forecast by 2023
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Geographically, North America has been the largest market for digital inks during 2013 – 2016 and it will also remain the largest market during the forecast period. The North American market is driven by growing electronic media market and increasing demand from office and commercial printing industry. The market for eco-friendly digital inks in North America is expected to increase during the forecast period. The market for eco-friendly digital inks in the region has benefited from the stringent regulations imposed by the Environmental Protection Agency (EPA) regarding the use of inks, which contain high quantities of volatile organic compound (VOC).
UV-cured inks offer fast curing speed, high print quality and durability. These inks having flexible ink films contain minimum VOC levels and have more resistance to scratches and wear and tear. These inks can be used in any kind of surface or absorbent thereby, offering brand owners a wide range of inflexible and flexible print substrates. Due to these factors, UV-cured inks are being widely adopted across the globe in applications such as food and pharmaceutical packaging, printing and publication industry.
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The digital inks market has witnessed number of acquisitions as key strategy for growth and expansion recently. In December 2016, Flint Group confirmed the acquisition of Xeikon, a digital solutions provider to the packaging and commercial printing markets. The Group has purchased XBC B.V., a company that holds more than 95% of the shares in Xeikon N.V. The newly created division will be called as Flint Group Digital Printing Solutions. Similarly, in October 2016, Sun Chemical Corporation and DIC Corporation jointly acquired Gwent Electronic Materials Ltd., a U.K.-based manufacturer of conductive inks, pastes and powders for the printed electronic market.
Some of the other key players in the market include Electronics For Imaging, Inc., Siegwerk Druckfarben AG & Co. KGaA, TOYO INK SC HOLDINGS CO., LTD., SAKATA INX CORPORATION, E.I. du Pont de Nemours and Company, Marabu GmbH & Co. KG, Nazdar Ink Technologies, and Wikoff Color Corporation.
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