NEWARK, Del, Sept. 12, 2023 (GLOBE NEWSWIRE) -- In 2023, the ink receptive coatings market is expected to be worth US$ 1,256.4 million. The market is expected to reach US$ 1,932.5 million by 2033, expanding at a 4.4% CAGR throughout the forecast period. Ink-receptive coatings are used in various applications where high-quality printing is required. These coatings enhance ink adhesion, color vibrancy, print resolution, and durability on different substrates.
Ink receptive coatings are primarily used in printing applications such as digital printing, flexography, gravure printing, and screen printing. They are applied to a wide range of substrates including paper, plastic films, metal, glass, and textiles. The coatings provide a receptive surface that allows inks to adhere better and spread evenly, resulting in sharp and vibrant printed images.
The market for ink receptive coatings has been witnessing growth due to the increasing demand for high-quality printing across various industries such as packaging, advertising, publishing, textiles, and automotive. The rise of digital printing technologies, which require specialized coatings to optimize ink performance, has also contributed to the market expansion.
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Industries such as packaging and advertising require precise and vibrant printing results, which can be achieved with the use of ink receptive coatings. Digital printing methods, such as inkjet and UV-curable printing, have gained popularity in recent years. These technologies often require specialized coatings to ensure optimal ink adhesion and color reproduction.
Ink receptive coatings play a vital role in two major industries: packaging and textiles. In the packaging sector, driven by the expansion of e-commerce and consumer goods markets, these coatings are extensively utilized to improve the visual attractiveness and longevity of printed designs on packaging materials. They enable vibrant and durable prints, enhancing the overall appeal of the packaging.
Similarly, in textile printing processes, ink receptive coatings are employed to enhance color vibrancy, fix the ink on the fabric, and increase resistance to washing. This application is found in various areas, including garment printing, textile signage, home textiles, and promotional textiles. These coatings facilitate the creation of intricate and vivid designs on fabrics while ensuring excellent colorfastness and long-lasting durability.
Key Takeaways from the Ink Receptive Coatings Market:
- The ink receptive coatings industry in the United States is predicted to reach US$ 282.5 million by 2033, increasing at a 3.1% CAGR.
- The ink receptive coatings industry in India is estimated to reach a market share of US$ 86.6 million, expanding at a CAGR of 5.1% by 2033.
- During the forecast period, the ink receptive coatings industry in China is expected to reach a market share of US$ 487.0 million, securing a 4.8% CAGR.
- The ink receptive coatings industry in Japan is predicted to reach US$ 76.5 million by 2033, increasing at a 4.1% CAGR.
- Germany’s ink receptive coatings industry is predicted to achieve a market share of US$ 111.7 million, rising at a 3.7% CAGR during the forecast period.
- With a CAGR of 4.0% from 2022 to 2033, the Labeling and Packaging segment is expected to dominate the ink receptive coatings industry.
- With a CAGR of 3.5% from 2022 to 2033, the textile industry is expected to dominate the ink receptive coatings industry.
“The ink receptive coatings industry is poised for significant growth in the coming years, fueled by rising demand across diverse sectors and the increasing adoption of digital printing technologies, driven by the growing need for high-quality, customizable prints” Says lead Analyst of Future Market Insights, Inc.
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How Does the Competition Look in the Ink Receptive Coatings Market?
The ink receptive coatings market is competitive, with several global and regional players operating in the industry. These companies focus on product development, strategic collaborations, and expansion of their distribution networks to gain a competitive edge. The market is dynamic, with companies striving to innovate and differentiate their products to gain a competitive edge.
Key Players in the Market
- Cabot Corporation
- Lubrizol
- Follmann & Co.
- Mallard Creek Polymers
- The Griff Network
- Roymal Inc.
- Synthomer
Companies compete based on the range and performance of their ink receptive coating products. They develop coatings that are compatible with different printing processes, substrates, and end-use applications. Offering a diverse portfolio that caters to specific customer requirements is a competitive advantage.
Companies can enhance their competitiveness in the ink receptive coatings market through two key strategies. Firstly, establishing a strong global presence and efficient distribution network enables effective customer reach and service across diverse markets. Access to a wide customer base and streamlined logistics capabilities are crucial factors contributing to a company's competitive advantage.
Secondly, strategic collaborations and partnerships with printing equipment manufacturers, ink suppliers, and other industry stakeholders play a vital role in strengthening a company's market position. Such collaborations facilitate joint product development, expanded distribution channels, and improved market penetration. By leveraging the expertise and resources of these partners, companies can enhance their product offerings and broaden their customer reach, thereby bolstering their competitiveness.
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Segmentation Analysis of the Market
By Ink Type:
- Water-based Inks
- Solvent-based Inks
- UV-curable Inks
- Dye-based
- Others
By Application:
- Labelling and Packaging
- Textile
- Graphics Design
- Plastics and Film
- Paper and Board
- Fine Art Printing
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia Pacific
- The Middle East and Africa
Authors:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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