April 24, 2024

Latex Ink Market growth driven by technological advancements in wide-format printing

Latex inks provide high-quality print outputs along with user friendliness, eco-friendliness, and great durability. Latex inks are widely used in various printing applications including signage, textile printing, posters, banners and other wide-format applications. Latex inks have taken over solvent inks mainly due to their water-based composition, and low environmental impact. They are increasingly being used for indoor and outdoor applications in various industries including advertising, construction, event management etc.

The global Latex ink market is estimated to be valued at US$ 23.89 Bn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Technological advancements are fuelling growth in the latex ink market. Inkjet printers that use latex inks now offer higher print speeds, higher resolutions and wider color gamuts. Manufacturers are also developing latex inks that deliver enhanced durability for outdoor signage applications. Further, hybrid latex inks that seamlessly combine properties of solvent inks and latex inks are gaining popularity. Such inks provide high-quality print outputs along with eco-friendliness. Growing adoption of digital printing technologies is also propelling the demand for latex inks. With improvements in inkjet hardware and software, digital printing is becoming increasingly viable for wide-format applications. This wide applicability and technological innovations are projected to drive the global latex ink market during the forecast period.

Porter’s Analysis

Threat of new entrants: The latex ink market requires significant capital investment in R&D and manufacturing facilities which poses barrier for new players.

Bargaining power of buyers: The presence of large printers and OEMs allows buyers to negotiate on price.

Bargaining power of suppliers: Key raw materials suppliers possess some bargaining power due to minimal differentiation in products.

Threat of new substitutes: Alternative printing inks such as solvent inks, UV-curable inks pose threat to latex ink market.

Competitive rivalry: The latex ink market is fragmented with top players competing on factors like product quality, price and innovation.

Key Takeaways

The global latex ink market is expected to witness high growth over the forecast period of 2023-2030. The global Latex ink market is estimated to be valued at US$ 23.89 Bn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023-2030.

Regional analysis: Asia Pacific region holds majority share of the global latex ink market primarily due to high demand from printing and packaging industry in countries like China and India. Further, presence of leading manufacturers in the region also contributes to its large share in the market.

Key players: Key players operating in the latex ink market are HP Inc. (United States), Epson Corporation (Japan), Canon Inc. (Japan), Roland DG Corporation (Japan), Mimaki Engineering Co., Ltd. (Japan), Seiko Epson Corporation (Japan), DuPont de Nemours, Inc. (United States), Agfa-Gevaert N.V. (Belgium), Fujifilm Holdings Corporation (Japan), Sun Chemical Corporation (United States). HP Inc. and Epson Corporation are the dominating players accounting for over 30% share of the market.