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Albany, New York, May 07, 2019 (GLOBE NEWSWIRE) -- The global water based inks market is prognosticated to experience a substantial growth in the upcoming years due to several changes in the market strategies. The key firms operating in the water based inks market are concentrating on the strategies for example, mergers, product launch, expansion, and mergers and acquisitions. These business strategies are intended to fortify the market reach of these firms across the globe. In July 2017, a market giant, Flint Group, in 2017, released a range of water based inks, PremoNava for board and paper applications in order to fulfil the surging demands from the users in the Middle East, Europe, and so forth. The major players leading the global water based inks market include Flint Group, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co. KGaA, Huber Group, and Toyo Ink SC Holdings Co., Ltd.
According to Transparency Market Research, The global water based inks market was valued at US$ 5,107.1 Mn in 2018 and is anticipated to expand at a CAGR of 6.45% from 2019 to 2027.
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Based on resin type, the global water based inks market is categorized majorly into polyester, acrylic, maleic, and so on, for example, phenolic and polyurethane. Among these, the acrylic segment, is estimated to be highly lucrative one for the growth in the global water based inks market, and is foreseen to sustain its lead in the span of coming years as well owing to increasing demand for acrylic resin-based inks in the packaging sector across the globe. Geographically, Asia Pacific region leads the global water based inks market, as far as volume and value in concerned. The region is estimated to keep on dominating, and being a potential ground for development in coming years as well. Moreover, rising demand for water-based inks in packaging and publication sector is also fueling the growth of the region.
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Demand in Flexible Packaging Boost Market Growth
Packaging provides a distinct value to a product. It provides the users to separate different product from one another. Flexible packaging method used in cosmetics, beverages, pharmaceuticals, and personal care are pick up pace in the global market. The humongous packaging industry development is churning the demand regarding water based inks market in the entire world.
Moreover, the flexography printing method, in 2018, was another lucrative type of printing fueling growth in the global water based inks market. Flexography printing is among the widely used printing methods. This methods is utilized in printing several substrates for example, paperboard, plastic, and paper. Moreover, the sector is also flourishing significantly in terms of market share, owing to capacity to print a wide range of substrates and utilization of environment-friendly inks, like water-based printing inks. Besides, a rise in tags and labels and flexible packaging sectors is further propelling the development in water based inks market.
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Inability to Work around Alkaline Environment to Hamper Market’s Expansion
Another factor contributing in the growth of water based inks market are rising development in packaging sector, especially in 2018. Additionally, surging demand for folding cartons and corrugated cardboard applications is as well fueling the growth in water based inks market. These inks are however used only around alkaline surroundings, since they are soluble in alkaline solutions. In addition, it is difficult for the inks to work smoothly on difficult substrates because of high friction and surface energy. Nevertheless, consistent advancements in innovations are likely to overcome these hindrances in future.
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The review is based on the findings of a report by Transparency Market Research, titled “Water based Inks Market (Resin Type - Acrylic, Polyester, Maleic, Others; Technology - Flexographic, Gravure, Digital; Application - Packaging, Publication, Tags and Labels) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.”
The global water based inks market is segmented as follows:
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