Waterborne Ink Market: Global Market Opportunity Assessment Study 2024

The global waterborne ink market displays a moderate degree of consolidation with top three companies holding 27.8% of the market in 2015, notes a market study by Transparency Market Research (TMR). These are Siegwerk Druckfarben AG & Co. KGaA, Flint Group, and Sun Chemical Corporation. Top companies such as Sun Chemical Corporation are consistently involved in development and innovation along with aggressive market expansion for distribution of high-quality products.

The global waterborne ink market is projected to display an intensive competitive scenario, says the author of the study. The lot of older and prominent players operate on the basis of long-term agreements and goodwill. This gives them an advantage of a safe playing field for engaging in expansion strategies. At the same time, the abundance of raw materials with their low costs attracts several new players in the market despite the fluctuating pricing in this market.

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The global waterborne ink market stood at US$2.3 bn in 2015 and is projected to reach a valuation of US$4.1 bn by 2024 expanding at a CAGR of 6.5% between 2016 and 2024.

Packaging Application Segment Leads Market

Packaging stood as the leading application segment of the waterborne ink market in 2015. Currently, the food and beverages industry is displaying an incessantly increasing demand for flexible packaging. This is because waterborne ink printing is low in weight and has an improved aesthetic appeal, which is expected to boost its demand for packaging solutions. The flyers and brochures application segment is expected to display growth opportunities over the forecast period.

In 2015, North America took the largest share in the global market in terms of volume and is expected to be leading until 2024. The region will be followed by Europe and Asia Pacific. The growing packaging industries in China, India and other ASEAN countries are expected to be the major driving forces for the growth of the global waterborne ink market during the forecast period.

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Need to Substitute Conventional Printing Inks for Environmental Reasons Bode Well for Market

The global waterborne ink market is displaying positive growth in terms of both revenue and volume due to several factors. Printing inks are harmful to the environment in terms of emissions and product disposal. As a result, printing inks related industries are closely monitored by government agencies and have come under the scrutiny of environment-conscious consumers. In the U.S., the implementation of mandates such as the TSCA and CAA, which is under federal control has been instrumental in lowering VOC emissions. Several other developed economies of the world have adopted similar processes for curbing VOC emissions leading to plummeted demand for conventional printing inks. As a result, the demand for waterborne inks is on the rise due to its low VOC emissions.

In several parts of the world, government regulations for the industrial emissions to be VOC-free is posing a challenge for the global waterborne ink market. Despite the low VOC content of waterborne inks, the rising prominence of UV-cured inks is expected to be strong contender to the waterborne ink market. UV-cured inks are completely free of VOC emissions and are quick to dry as they are treated with UV drying methods. Consequently, the risk of losing demand to UV-cured inks is anticipated to rise over the coming years.

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