Water-based Inks Market – Snapshot
Water-based inks are also known as waterborne inks. The drying speed of water-based inks is slower than that of solvent-based inks. Water-based inks are a blend of colorants, resins, solvents, and additives. These inks contains 60% water or other solvents, 20% resin, 15% colorant, and 5% additives. The main solvent is water; however, other co-solvents are also present.
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In terms of resin type, the water-based inks market has been divided into acrylic, polyester, maleic, and others such as polyurethane and phenolic. Acrylic was a highly attractive segment of the global water-based inks market in 2018 and this trend is likely to continue during the forecast period due to rise in demand for acrylic resin-based inks from the global packaging industry. Acrylic resins offer soft-film ink polymers with excellent resistance to ice water crinkles, pH stability, and high adhesion.
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Based on technology, the global water-based inks market has been divided into flexography, gravure, digital, and others, which include screen, sheet-fed, and offset. The flexography segment dominated the water-based inks market in 2018. The segment is likely to remain highly lucrative during the forecast period, as the demand for flexographic technology is rising, as it can be used print onto a wide range of substrates. Flexographic inks exhibit high adherence to substrate surface and provides excellent printing quality, irrespective of the substrate material.
In terms of application, the global water-based inks market has been classified into packaging, publication, tags & labels, and others such as decorative and product. The packaging segment dominates the water-based inks market in 2018. The segment is likely to remain highly lucrative during the forecast period, as water-based inks are extensively used in corrugated and flexible packaging applications. Flexible packaging is largely employed in the food & beverages industry. The influence of digitalization has negatively affected the usage of paper in various applications such as newspapers and books. This, in turn, hampers the usage of different printing inks. This trend is likely to continue and lower the usage of water-based inks in publication application.
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Based on region, the global water-based inks market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of volume and value, Asia Pacific dominated the global water-based inks market in 2018. The region is likely to remain highly lucrative during the forecast period due to rapid industrialization and increase in demand for water-based inks from publication and packaging industries in the region. The market in Asia Pacific is projected to be an expanding during the forecast period, owing to growing awareness among consumers in the region about the use of inks with low VOC content. The market in China is rapidly expanding owing to the expansion of industries such as publication, corrugated cardboards, tags & labels, and folding cartons in the country. Europe constituted a key share of the global water-based inks market in 2018, as the European Commission and the European Parliament and Council of Ministers representing European Union governments are developing EU-wide circular economy harmonized rules on recycling, reusing, and safe disposal of potentially harmful chemicals. This, in turn, encourages ink and coating producers to be aware about chemicals used in their products and adopt the possible changes required to maintain the product safety. This, in turn, is driving the water-based inks market in Europe. Demand for water-based inks in Latin America has been increasing significantly due to the rise in packaging and increase in usage of tags & labels as a mode of advertising.
Key players operating in the global water-based inks market include Sun Chemical Corporation, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co., Ltd., Huber Group, Wikoff Color Corporation, Doneck Euroflex S.A., Sebek Inks, Dolphin Inks, BCM Inks, and Chimigraf.
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