Market Introduction
The rising demand in the packaging industry for water-based ink printing is driving the European water-based ink market. The Technological innovation, sustainability, and attractive economics are among the reasons that is driving the growth of consumer packaging in Europe. The rising focus on sustainability, consumers are preferring recyclable carton packaging over plastic or tin packaging. This will in turn lead an increase in demand for water-based inks as it is more sustainable and eco-friendlier than solvent-based inks. The growing demand for customer-friendly packages as well as heightened product protection is expected to boost sustainable consumer packaging as a viable and cost-effective solution which will drive the growth of water-based ink market in Europe. The demand for flexographic printing has increased in Europe as it is having various applications in printing of packaging materials, as well as newspapers, catalogues, corrugated cardboard boxes and many such things. There has been an increase in the demand for water-based ink, which is due to the supportive government norms, abundant solvent availability, and comparatively lower-cost than its substitutes.
In Europe, currently the Russia and UK, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. These countries are estimated to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partial closing of their border. COVID-19 has also affected the supply chain of raw materials required for paints. Coating & inks at greater extent which has eventually hampered the overall manufacturing processes, research, and development activities thus impacting the market growth.
Market Overview and Dynamics
The water-based inks market in Europe is expected to grow from US$ 2,625.10 million in 2020 to US$ 3,644.02 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2020 to 2028. Sustainability has become a significant area of focus in advanced manufacturing set-ups, as the eco-friendly processes as well as the introduction of improved, sustainable materials have often been associated with the growth of many businesses. This is propelling the use environmentally friendly materials across the packaging industry. Printing is a significant stage in this industry. The deployment of water-based flexo printing is gaining momentum as one of the sustainable alternative in the packaging industry. The demand for water-based inks has increased due to the observations that flexo and gravure systems using water-based inks emit 50% less CO2 levels than that emitted by conventional solvent-based gravure printing systems. Such inks minimize the impact of volatile organic compounds (VOC) entering the environment, thereby contributing to the decrease in carbon footprint of the packaging process. Instead of emitting volatilized chemical solvents, water-based inks leave behind a trail of pigments, which has no impact on environment. The water-based ink significantly finds application in the reverse printing of labels along with lamination of packaging in the food & beverages industry. Other than this, such inks enable manufacturers to conform to regulatory compliances associated with the use of local chemical substances. For instance, the Toyo Ink Group are committed to the production of water-based inks by following safety standards, in line with environment sustainability. Hence, with the shift in focus toward sustainable development goals, manufacturers have reshaped their products to meet the consumer demand and address the environmental issues.
Key Market Segments
In terms of resin type, the acrylic segment accounted for the largest share of the Europe 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 Europe 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
Europe Water-Based Inks Market Segmentation
Europe Water-Based Inks Market – By Resin Type
Europe Water-Based Inks Market – By Technology
Europe Water-Based Inks Market – By Application
Europe Water-Based Inks Market – By Country
Europe Water-Based Inks -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 2,625.10 Million |
| Market Size by 2028 | US$ 3,644.02 Million |
| CAGR (2020 - 2028) | 4.8% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Resin Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Water-Based Inks Market is valued at US$ 2,625.10 Million in 2020, it is projected to reach US$ 3,644.02 Million by 2028.
As per our report Europe Water-Based Inks Market, the market size is valued at US$ 2,625.10 Million in 2020, projecting it to reach US$ 3,644.02 Million by 2028. This translates to a CAGR of approximately 4.8% during the forecast period.
The Europe 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 Europe Water-Based Inks Market report:
The Europe Water-Based Inks Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Water-Based Inks Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Water-Based Inks Market value chain can benefit from the information contained in a comprehensive market report.
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