Report : Middle East and Africa Water-Based Inks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Resin Type (Acrylic, Polyester, Maleic, and Others), Technology (Flexographic, Gravure, Digital, and Others), and Application (Packaging, Publication, Tags and Labels, and Others)
Packaging Segment to Dominate Middle East & Africa Water-Based Inks Market during 2020–2028
According to a new market research study on “Middle East & Africa Water-Based Inks Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Resin Type, Technology, and Application,” is expected to reach US$ 607.34 million by 2028 from US$ 462.34 million in 2020. The market is estimated to grow at a CAGR of 4.0% from 2020 to 2028. The report provides trends prevailing in the Middle East & Africa water-based inks market along with the drivers and restraints pertaining to the market growth. Elevating use of water-based inks in textile printing, steady demand in flexible packaging, and accelerated investments in product innovation are the major factor driving the growth of the Middle East & Africa water-based inks market. However, technical and operational Limitations pertaining to water-based inks hinder the growth of Middle East & Africa water-based inks market.
Saudi Arabia has the highest number of COVID-19 cases in the Middle East & Africa, followed by Turkey and UAE, among others. The UAE was the first country in the Middle East & Africa to report a confirmed case of COVID-19. Due to lockdown in Middle East & African countries, various chemicals & materials companies remain closed which led to the reduction in the sale of various products which has drastically altered the growth status of the water-based Inks industry. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disturbed value chain has had a negative impact on raw material supply. However, as the economies are planning to revive their operations, the demand for water-based Inks is expected to rise in the coming months.
The market for water-based inks market is segmented into resin type, technology, application, and country. Based on resin type, the market is segmented into acrylic, polyester, maleic, and others. In 2019, the acrylic segment held the largest share Middle East & Africa water-based inks market. Based on technology the water-based inks market is divided into flexographic, gravure, digital, and others. Flexographic held the largest share Middle East & Africa water-based inks market. On the basis of application the market is segmented into packaging, publication, tags and labels, others. The packaging segment contributed a substantial share in 2019.
DIC Corporation; Flint Group; Hubergroup; Siegwerk Druckfarben AG & Co. KGaA; T&K TOKA Co. Ltd.; Toyo Ink SC Holdings Co., Ltd.; Fujifilm Holdings Corporation; and Wikoff Color Corporation are among the leading companies in the Middle East & Africa water-based inks market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Flint Group Paper & Board introduced HexaCode, a broad range of water-based inks produced for corrugated board, paper bags and sacks, paper shopping bags, and gift wraps. The HexaCode ink range has been designed to lessen converters’ overall total cost to print showing significant key features such as optimized resolubility, superior pH and viscosity stability, excellent print quality, and high color strength.
The report segments the Middle East & Africa Water-Based Inks Market as follows:
Middle East & Africa Water-Based Inks Market – By Resin Type
Middle East & Africa Water-Based Inks Market – By Technology
Middle East & Africa Water-Based Inks Market – By Application
- Tags and Labels
Middle East & Africa Water-Based Inks Market – By Country
- South Africa
- Saudi Arabia
- Rest of MEA
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