The global latex ink market has been gaining traction owing to its superior quality printing abilities. Latex inks produce bright, vivid colors and high resolution printing. They are highly durable and resistant to water, UV rays, smearing, and fingerprints. Latex inks dry quickly without losing color vibrancy and have a very long shelf life.
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:
One of the major market trends propelling the latex ink market growth is its increasing adoption in sign & banner and outdoor advertising applications. Latex inks offer long-lasting outdoor durability needed for signage & banners used in outdoor environments. They withstand weathering effects like rain, UV light exposure, extreme temperatures without losing color intensity for several months up to a year. Hence various organizations and advertisers are increasingly preferring latex inks over conventional solvent-based inks to promote their brands through durable signage and hoardings outdoors, thereby fueling the demand for latex inks.
Strength: Latex ink offers high print quality with accurate color reproduction and clear image definition. It delivers moisture, water and abrasion resistance features to prints.
Weakness: Latex ink is more expensive than other ink types such as solvent and UV-curable inks. It also requires specialized latex ink printheads that increases costs.
Opportunity: Growing application of latex ink in sign & graphics, textile printing, industrial & engineering and commercial printing industries offer major revenue opportunities. Increasing usage of latex ink in direct-to-garment printing presents an opportunity.
Threats: Availability of cheaper substitutes such as UV-curable inks pose a threat to latex ink market. Stringent environmental regulations regarding VOC emissions of inks also restrict the market growth.
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.
The global latex ink market is expected to witness high growth. The growing industrial printing industry especially in Asia Pacific drives the demand for latex inks. Countries such as China, India and Japan dominate the APAC latex ink market owing to presence of major printing industries. APAC region holds the major share in the global latex ink market and is expected to grow at the fastest rate during the forecast period. China, India and Japan are some of the key countries contributing to the APAC market growth. This can be attributed to rising population, urbanization, industrialization and growth in end use industries.
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). These players are focusing on new product launches, expansions and collaborations to gain a competitive advantage in the market.