Market Introduction
APAC continent comprises several developing economies such as India, China, Japan, South Korea, Australia, among others. These emerging countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the water-based ink market. The water-based ink market in the countries of Asia Pacific has experienced a considerable shift over the years. Moreover, with the continual development of science and the continuous improvement of the theoretical system, water-based ink technology will be exploited in more industries and become a universally recognized means of parts processing. The massive growth of the Asia Pacific region is due to a manufacturing base in the emerging economies, such as India, Japan, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries. The packaging printing market is rising in the Asia Pacific region which is due to the multiple printing technologies and applications in a wide spectrum of industries. The presence of various established industries which are related to food and beverages, consumer electronics, and many others in countries such as China, India, Japan, and South Korea has resulted in an increase in demand for printed packaging solutions in the region. There has been an increase in the demand for printing of packages due to the increase consumer spending as well as the rising demand for sustainable products. The rise in the consumption of processed food as well as the emerging technologies for packaging printing can also drive the water-based ink market in Asia Pacific. .As the demand for printed packaging increases, it also leads to an increase in demand for printing inks, which will mostly lead to an increase in demand for water-based inks as they are more environmentally friendly than the solvent-based inks. Water-based inks reduces VOC emissions as well as the carbon footprint.
The COVID-19 is anticipated to cause a significant economic loss in Asia Pacific. The consequence and impact are likely to worsen with the spread of the virus. The governments of various AP Asia Pacific AC countries-imposed lockdown in early 2020 to restrict the spread of the virus, which, in turn, negatively impacted the production of water-based inks. The Government have asked the chemical & materials manufacturers to delay their production which will adversely affect the global supply of water-based inks. However, the demand for corrugated and paper packaging have experienced moderate growth even during the lockdown in region due to consistent demand of food & consumer goods products. The packaging companies operating in region have realign their operations, restructure their production facilities and procure raw materials required for packaging products in advance to avoid imbalance between the supply and demand. This factor has indirectly supports the demand for packaging inks including water-based inks. Thus, the overall impact of COVID-19 on water-based inks market is minor as compared to other regions.
Market Overview and Dynamics
The water-based inks market in Asia Pacific is expected to grow from US$ 3,622.01 million in 2020 to US$ 5,371.56 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2020 to 2028. As per Flexible Packaging Association, flexible packaging is a type of packaging or any part of the packaging made from a non-rigid structure, and it can be easily molded into different shapes. This type of packaging allow for better transportation of the packaged goods, along with enabling customizable designs and better life span. The inks used in flexible packaging help enhance the overall graphic representation and maintain the quality of imprinted images during phases such as manufacturing, packaging, and transportation, as well as at the time of the final use of the product. Earlier, solvent-based inks were extensively in use, instead of the water-based inks, due to drawbacks associated with the latter, such as lower printing speeds, slower water evaporation, improper wetting mechanism, and imperfect printability on critical substrates. However, the demand for water-based inks have grown incessantly in lieu with focus towards sustainability. The advancements in printing techniques such as deployment of improved resins, better ink formulation, and high-performance printing equipment have helped printing manufacturers to overcome the drawbacks of water-based inks. These developments have enabled the water-based inks to meet the performance standards associated with flexible packaging materials. Marabu is involved in production and supply of water-based inkjet inks used in flexible packaging of the food & beverages industry products as well as the consumer goods industry products, such as cardboard boxes, toys, and digitally printed wallpapers.
Key Market Segments
In terms of resin type, the acrylic segment accounted for the largest share of the Asia Pacific water-based inks market in 2019. In terms of technology, the flexographic segment held a larger market share of the water-based inks market in 2019. Further, the packaging segment held a larger share of the market based on application in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the water-based inks market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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; and Wikoff Color Corporation among others.
Reasons to buy report
Asia Pacific Water-Based Inks Market Segmentation
Asia Pacific Water-Based Inks Market – By Resin Type
Asia Pacific Water-Based Inks Market – By Technology
Asia Pacific Water-Based Inks Market – By Application
Asia Pacific Water-Based Inks Market – By Country
Asia Pacific Water-Based Inks -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 3,622.01 Million |
| Market Size by 2028 | US$ 5,371.56 Million |
| CAGR (2020 - 2028) | 5.8% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Water-Based Inks Market is valued at US$ 3,622.01 Million in 2020, it is projected to reach US$ 5,371.56 Million by 2028.
As per our report Asia Pacific Water-Based Inks Market, the market size is valued at US$ 3,622.01 Million in 2020, projecting it to reach US$ 5,371.56 Million by 2028. This translates to a CAGR of approximately 5.8% during the forecast period.
The Asia Pacific Water-Based Inks Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Water-Based Inks Market report:
The Asia Pacific Water-Based Inks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Water-Based Inks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Water-Based Inks Market value chain can benefit from the information contained in a comprehensive market report.
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