|Base Year Market Size
|USD 3.8 Billion
|Forecast Year Market Size
|USD 6.7 Billion
|Fastest Growing Market
The global inkjet colorant market size was valued at USD 3.8 billion in 2022 and is projected to reach a value of USD 6.7 billion by 2031, registering a CAGR of 6.6% during the forecast period (2023-2031). The increased popularity of inkjet printers and the rising need for digital printing are the primary factors driving the growth of the inkjet colorant market.
Inkjet colorants are chemicals or compounds employed in producing colored inks for several purposes in inkjet printing. These colorants are vital in defining the print's quality, vibrancy, and longevity. Inkjet colorants are often divided into two types: dye-based and pigment-based.
The global expansion of digital Printing has fueled the market's expansion. It has several advantages over traditional analog printing, including low cost, simplicity of modification, and high output. This will likely increase the inkjet colorant market share throughout the forecast period. Even though the market is moderately consolidated, new entrants can benefit from innovation and partnerships. However, the unpredictable supply of raw resources hampered the market's expansion.
The digitization trend across industries is driving the transfer from traditional printing technologies to digital Printing, particularly inkjet technology. Digital Printing provides more efficient, adaptable, and cost-effective printing options than traditional processes. As organizations attempt to utilize the benefits of digital printing technology for numerous applications, the influence of digitalization is visible in the rise of the inkjet colorant market.
Inkjet technology has seen widespread use in commercial Printing. For example, digital presses that use inkjet colorants provide short print runs, changeable data printing, and quick work turnaround times. Print service companies can give customized prints without requiring extensive setup times or large printing volumes. According to Quocirca, 25% of organizations have already implemented inkjet technology due to the pandemic. Another third (32%) believe they will do so in the coming year.
Furthermore, digitization has been a huge game changer in the printing business, enabling product customization, innovation, and communication closely aligned with digital Printing's rising capabilities. Customers want interactive products that provide all of the information they need to know about them. The devices have technological elements such as QR codes with links to social media, virtual reality, etc. The inkjet colorant market trend aligns with the changing needs of many sectors, encouraging innovation and efficiency in print output.
Inkjet colorants are made from various basic materials such as pigments, dyes, solvents, and additives. The availability and pricing of these raw resources are affected by market conditions, weather occurrences, geopolitical issues, and other uncontrollable phenomena. Natural disasters, trade conflicts, or unanticipated occurrences affecting the production of important raw materials can all cause disruptions in the pigment industry. Disruptions in the supply chain of pigments, such as those required for pigment-based inkjet colorants, can result in shortages and price volatility.
According to Smithers, the inkjet sector has seen variations in raw material prices, affecting the entire cost structure of inkjet ink formulations. The raw material price trend is mostly determined by supply and demand.
Higher crude oil prices have an impact on the ink industry supply chain. The degree of price relief is determined by the ink-producing plant's location and the amount of crude bi-product in the formula. Consumer Reports claims that the cost of building a printer is higher than the retail price of most consumer printers. IHS Markit, for example, puts the manufacturing cost of the HP Envy 4520 all-in-one printer at around $120.
As a result, the industry's capacity to traverse these issues requires strategic planning, diversification, and a proactive approach to managing the global supply chain's intricacies.
Printhead technology advancements are critical in generating demand for high-performance inkjet colorants. As printheads improve in resolution, printing speed, and precision, there is a greater demand for inkjet colorants that can utilize the capabilities of modern printing equipment. Meteor Inkjet Ltd. was issued a US patent for "Inkjet nozzle status detection" by the US Patent and Trademark Office in November 2022. The patent covers a system and method for determining the operating condition of a nozzle in a piezoelectric industrial inkjet printhead in real-time. The invention employs real-time monitoring of electrical feedback from the nozzle following piezoelectric excitation to detect blocked or clogging print nozzles. Such developments are likely to increase the growth of the market under consideration.
With the emergence of high-resolution printheads, such as those with advanced piezoelectric or thermal inkjet technologies, elaborate and detailed designs may now be printed. This innovation raises the demand for inkjet colorants capable of producing sharp, fine details with accurate color reproduction. For example, in December 2022, Xaar, a manufacturer of inkjet technology, will open an advanced inkjet printing laboratory in Shenzhen, China, with the latest printhead test equipment and experimental print process platforms. Xaar said it would partner with prominent local electronics businesses to establish synergies across the industry supply chain by using its printheads, ink recirculation system, and fluids.
Printheads with multi-level printing capabilities, which use varying levels of ink saturation, also allow for the generation of complex color tones. Inkjet colorants that support multi-level printing help to produce prints with a wider color gamut and better tone range.
The global inkjet colorant market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.
Asia-Pacific is the most significant global Inkjet Colorant market shareholder and is estimated to grow at a CAGR of 6.7% over the forecast period.The Asia-Pacific region held a substantial proportion due to the area's rising packaging sector. A recent Globe Packaging study found that packaging was the most influential factor in purchasing decisions. As a result, packing is critical in items manufactured by various industries. Asia has the world's largest packaging business because Asian economies, particularly China and India, are both production- and consumer-based. The Indian packaging industry is rapidly increasing due to the growing pharmaceutical, food manufacturing, FMCG, and healthcare industries. Government initiatives such as Make in India are increasing domestic output, which benefits the packaging business. Asian countries, particularly Southeast Asian countries, are major players in the textile and garment manufacturing business. For digital textile printing, inkjet colorants are utilized, allowing for personalized designs and bright fabric patterns. The advent of digital printing technologies in the textile sector increases demand for inkjet colorants that provide color accuracy and durability.
Additionally, the region's increasing industrialization, urbanization, and expanding e-commerce industry contribute to market growth. The Asia-Pacific region's yearly urbanization rate is 3%. Furthermore, urbanization rates vary greatly across the region, ranging from 33% in South and South-West Asia to 70% in the Pacific. By 2030, more than 55% of Asia's population will be urban. Furthermore, with a market size of $1.49 trillion by 2023, China is the world's and Asia's largest e-commerce market. Japan and South Korea are two more major e-commerce markets. As a result, the region's market growth is likely to benefit from the region's increased urbanization.
North America is anticipated to exhibit a CAGR of 6.9% over the forecast period. North America's inkjet colorants market covers the United States, Canada, and Mexico. The extensive implementation of digital printing technology in numerous industries, including advertising, drives the market. The printing business is the 14th largest manufacturing industry in the United States. The printing business in the United States was worth $87.4 billion in 2022. In 2022, the industry employed 396,996 people. Furthermore, ad expenditure in North America surged by nearly 70% between 2017 and 2022, topping 360 billion US dollars in the latter year.
Furthermore, North America is predicted to dominate the commercial printing market. This is attributable to countries like the United States and Canada's early embrace of modern printing technologies. In addition, 1,748 Printing Services enterprises are in the United States as of 2022. As a result, the growth of the printing sector is likely to fuel the inkjet colorant market.
The European inkjet colorant market is a thriving subset of the larger printing and ink industries, according to inkjet colorant market insights. Inkjet colorants are critical to powering Europe's lively and diverse printing scene across various applications. Inkjet colorants are used in the European packaging industry to print colorful labels, flexible packaging, and cartons. This encompasses food and beverage, medicinal, and cosmetic uses. Screen and Rigoli are two firms that use inkjet digital print technology in the European flexible packaging sector. Rigoli, for example, debuted the Rigoli MVZ on May 22, 2018.
In addition, the European textile sector uses inkjet colorants for digital textile printing, which enables elaborate designs on fabrics, personalized clothes, and home textiles. The trend toward sustainable and on-demand textile printing impacts the development of eco-friendly inkjet colorants that meet European environmental requirements.
|Cabot Corporation Jetcolour Huntsman Corporation BASF SE Lanxess AG Toyo Ink Clariant International AG DIC Corporation Lonsen Kiri Chemical Industries Fujifilm
|U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
|China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
|Middle East and Africa
|UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
|Brazil Mexico Argentina Chile Colombia Rest of LATAM
|Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
The global inkjet colorant market is segmented based on type, application, and region.
The market is further segmented by Type into Pigments and dyes.
Pigments account for the largest share
Pigments are colorful particles that are solidly suspended in ink. Color is provided by selectively absorbing and reflecting light. The pigments type category accounted for a sizable portion of the Inkjet Colorants Market. Colorants for inkjet inks can be of two types: dye colorants and pigment colorants. Pigmented inks are small particles suspended in a liquid. Pigments offer a strong appearance and are lightfast and weather-resistant. Pigment inks pose the least amount of ink transfer risk. Pigment dyes are excellent for outdoor goods such as advertisements. UV-curable pigments have seen increased demand in the industry, particularly in areas such as signage and packaging, because of their quick drying times and increased durability. Furthermore, pigment-based inkjet inks outperform dye-based inkjet inks. Pigment-based inkjet inks, for example, are waterproof and fade-resistant compared to dye-based inkjet inks.
Dyes are liquid pigments that dissolve in ink. Color is produced by absorbing specific wavelengths of light. Reactive dyes are a dye-based colorant often used in textile printing to provide brilliant and vibrant colors.
The market can be bifurcated by application into Industrial Printing and Commercial Printing.
Industrial Printing influenced the market.
Inkjet technology is used in industrial Printing for various applications in manufacturing and industrial processes. Newspapers, periodicals, textiles, graphic arts, plastics, and metals all use inkjet printing. These businesses use inkjet printing technology to mass-produce end items like signage, conductive circuits, and textiles. As manufacturing companies use a considerable amount of inkjet ink, the need for inkjet colorants is high. Furthermore, several businesses are working to create new uses for inkjet printing technology in fields such as 3D Printing. Furthermore, industrial Printing may prioritize durability and substrate compatibility, whereas commercial Printing may concentrate on color vibrancy and print quality.
Commercial Printing covers various corporate and consumer applications, such as marketing materials, magazines, and promotional goods. For commercial Printing, inkjet is the predominant digital printing process. Lower manufacturing costs, higher quality output, conversion of processes from analog to digital, inventory reduction, printing onto very large, very small, fragile, or non-flat substrates, waste reduction, customization, and faster prototyping are all advantages of using inkjet technology in industries. Digital printing technology is rapidly being used in packaging printing.