Water-Based Inks Market Size, Trends and Growth Analysis by 2027

The global market for water-based inks was valued at approximately US$ 9,141.20 million in 2019 and is anticipated to grow to US$ 13,496.39 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.2% from 2020 to 2028.

Water-based inks consist of pigments or dyes suspended in a colloidal solution, with water serving as the primary solvent. Although water is the main solvent in these inks, they may also include co-solvents to expedite the curing process of the ink film on various substrates, particularly fabrics. One of the advantages of water-based inks is their enhanced viscosity stability during printing, as water evaporates at a slower rate compared to other solvents. The increasing demand for these inks can be attributed to heightened environmental and safety concerns, the expansion of flexible packaging, and a rise in screen printing applications.

The water-based inks market is categorized by technology into several segments: flexographic, gravure, digital, and others. Among these, the flexographic segment dominated the market in 2019. Flexography is a printing technique that employs a flexible relief plate, primarily used for high-volume label and packaging printing. In the realm of packaging, various ink types are utilized, including water-based, energy curable, and solvent-based inks. Water-based inks are particularly favored for printing on corrugated packaging materials. The use of flexographic water-based inks is increasing for packaging films due to their lower ink consumption compared to gravure printing. This is largely because flexographic printing requires less ink, and the slower drying time of water-based inks compared to solvent-based alternatives results in lower energy consumption and improved productivity, enabling high-speed printing capabilities.

Regionally, the water-based inks market is divided into North America, Europe, Asia Pacific (APAC), South America (SAM), and the Middle East & Africa (MEA). In 2019, the APAC region held the largest market share, followed closely by Europe. The growth of the water-based inks market in APAC is primarily driven by increasing demand from developing nations such as China and India. In these countries, water-based inks are predominantly used in flexible packaging as well as paper and corrugated packaging. The rapid expansion of the food and beverage, pharmaceutical, and personal care sectors in these developing markets necessitates high-quality packaging solutions, thereby propelling the growth of the water-based inks market. Furthermore, the increasing emphasis from various governmental bodies on environmental sustainability has led to restrictions on solvent-based inks that produce hazardous waste, further encouraging the adoption of water-based inks.

In addition to packaging, water-based inks find applications in tags and labels, publications, and textile printing. The rising demand from these sectors is expected to significantly boost the market throughout the forecast period.

In 2019, APAC was the leading region in the global water-based inks market, driven by the burgeoning demand from developing countries like China and India. These nations are witnessing substantial growth in their printing and packaging industries. The continuous expansion of the food and beverage, pharmaceutical, and personal care sectors necessitates high-quality packaging and labeling solutions. Water-based inks are particularly effective for printing on paper and cardboard, offering superior gloss, color vibrancy, and surface finish compared to other ink types on absorbent substrates. Additionally, water-based inks emit significantly lower levels of volatile organic compounds (VOCs), resulting in reduced pollution-related costs compared to solvent-based inks. These benefits have led to a higher adoption rate of water-based inks in the APAC region. Moreover, water-based inks penetrate fabrics more effectively, producing durable prints with exceptional detail and sharpness, making them ideal for intricate designs. The increasing demand for water-based inks in textile printing within APAC is projected to further drive market growth during the forecast period.

Key players in the global water-based inks market include DIC Corporation, Flint Group, Hubergroup, Sakata Inx Corporation, Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Co., Ltd., Toyo Ink SC Holdings Co., Ltd., Fujifilm Holdings Corporation, American Inks & Technology, and Wikoff Color Corporation.

The overall size of the global water-based inks market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this research included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants, valuation experts, research analysts, and key opinion leaders specializing in the water-based inks market.