Ceramic Inks Market Predicted to Reach $2.8 Billion by 2025
Published Date: August 13, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
According to the latest research published by Global Market Insights, Inc., the ceramic inks market is likely to surpass $2.8 billion by 2025, growing at a CAGR of 5.6% from 2019 to 2025.
Rising building & construction activities in the U.S and Asia Pacific region will drive the growth of ceramic inks market during the anticipated timeframe. Ceramic inks’ wide usage in ceramic tiles for wall tiling, flooring and other glass-based applications will increase its demand in the near future.
Increasing urbanization in Latin America and Middle East is another driving factor which will fuel the ceramic inks demand for growing construction projects in the region. Rising income levels in emerging countries will also create a positive impact on the market to cater swelling demand for quality residential spaces in the region.
Growing automotive sector globally will further upsurge the ceramic inks demand for several applications. This includes glass printing, component etching, etc. that resist weathering, scratch, acid, alcohol, and improves glass strength. Additionally, improved quality of lifestyle and rising demand for food packaging will also create a positive impact on the ceramic inks market.
Continuously fluctuating oil-based resources will affect the product prices globally which may hinder the oil-based ceramic inks business during the anticipated timeframe and will also reduce profit margin among the product manufacturers and suppliers in the ceramic inks market share.
By product, it is classified into decorative and functional. In 2018, functional segment generated a revenue of over USD 900 million and is expected to grow at a fair rate during the anticipated timeframe. Functional ceramic inks segment finds extensive usage in the automotive industry for glass printing as they offer various properties such as slip resistance, scratch resistance and other properties that improve the reliability of indoor and outdoor automotive glasses.
Browse key industry insights spread across 240 pages with 393 market data tables & 23 figures & charts from the report, “Ceramic Inks Market Size By Product (Functional, Decorative), By Formulation (Solvent Based, Water Based, Oil Based), By Technology (Digital, Analog), By Substrate (Ceramic, Glass), By End-use Sector (Building & Construction, Automotive, Food & Beverage Containers) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Thailand, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Based on formulation, the market share is segmented into water based, oil based, and solvent based inks. Water based ceramic inks, which are cost effective, are anticipated to increase with a significant CAGR of around 6% till 2025, owing to its wide usage in automotive industry. Moreover, its growing demand from food & beverage packaging will further strengthen its position in the ceramic inks market.
Based on technology, the market includes analog and digital printing. Analog printing inks accounts for nearly 40% of the market owing to its wide usage in food & beverage container printing. By substrate, glass substrate nearly accounts for half of the market size and is likely to grow significantly in the foreseeable future.
By end-use sector, the market is classified into automotive, building & construction, food & beverage container etc. food & beverage container segment accounts a fair revenue and is likely to grow with the CAGR of around 6% in the near-term. Furthermore, rising demand from automotive industry will propel the product ceramic inks market size.
In 2018, the North American region accounts over USD 300 million for the ceramic inks market share internationally and is likely to grow at a reasonable rate during the forecast timespan. The region is likely to undergo high growth owing to growing automotive industry. Additionally, the high-volume infrastructure activities in U.S. will propel its market size.
Major participants in the ceramic inks industry includes Torrecid SA, Ferro Corporation, Fritta SPA, Sun Chemical, Sicer SPA and Zschimmer-schwarz Group to name some.