The market is projected to experience growth at a CAGR of 6.1% from 2019 to 2026.
Digital ink can be defined as ink used in the digital printing process. This process enables inks or drawings to be printed electronically to substrates or documents.
The global digital ink market is analyzed on the basis of ink type, technology type, substrate, application, and region. Depending on type, the market is categorized into digital textile ink, UV ink, solvent ink, water-based ink, packaging ink, and others.
By technology type, it is classified into electrography, ink-jet. Different types of substrates analyzed in the report textiles, plastics, ceramic & glass, and others.
Various applications of digital inks studied in the market are commercial printing, office printing, packaging, industrial printing, publication, textiles, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By ink type, the digital textile ink segment dominated the global digital ink market, in 2018. UV ink has the second-highest share in the market in terms of revenue. This is attributed to its high-energy efficiency. Its other advantages include line efficiency, quality control, and product consistency. UV curable inks enhance the performance of the printer, thereby increasing the speed of the process. UV curable inks are more efficient than traditional printers are as they emit very small amounts of volatile organic compounds and generally require no add-on air pollution control equipment. UV curable inks find frequent application in the publications, automobile, consumer goods and others.
On the basis of technology type, ink-jet is anticipated to grow at the fastest growth rate. Ink-jet printing technology is anticipated to witness significant growth during the analysis period owing to a surge in the demand from industrial printing and the 3D printing industry.
By substrate, the plastic segment has garnered a dominant share in the market. Plastic is highly adopted in the packaging sector as it is lightweight, easy to handle, cost-effective, and others.
By region, Asia-Pacific has gained a second-highest share in the market in terms of volume and revenue. This is attributed to the presence of a large consumer base such as packaging, textiles, and others in countries such as China, Japan, and India.
"There is an increase in demand for digital ink in commercial and office printing applications in India. This is attributed to rapid industrial development," said Eswara Prasad, manager, Chemical and Materials. "China is one of the major countries. It has garnered the highest share in the Asia-Pacific market. This is attributed to the large consumer base as well as the presence of key players."