The report "Digital Inks Market by Formulation (Solvent-Based, Water-Based, UV-Cured), Application (Advertising & Promotion, Ceramic Tiles Printing, Clothing & Household Textiles, Packaging, Glass Printing), Substrate, and Region - Global Forecast to 2023", The global digital inks market is projected to grow from USD 2.71 Billion in 2018 to USD 4.17 Billion by 2023, at a CAGR of 9.1% from 2018 to 2023. The growth in the demand for digitally printed soft signage is driving the market for digital inks. In addition, the extensive use of digital inks in ceramics printing has created a high demand for digital inks for use in the application. Packaging is the fastest-growing segment of the digital inks market, owing to the high demand for digital inks for label printing.

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Based on substrate, the plastics segment is estimated to account for the largest share of the digital inks market in 2018.

Based on substrate, the plastics segment is estimated to account for the largest share of the digital inks market in 2018. Digitally printed plastics can be used on Point-of-Purchase displays, labels, nameplates, lightbox displays, industrial graphics, exhibition graphics, and promotional graphics and membrane switches. Plastics are suitable substrates for printing, as they have strength, resilience, flexibility, durability, and protective properties. UV-curable wide-format ink-jet technologies, such as digital roll-to-roll and digital cut-sheet are used to print on plastics digitally. Various plastic substrates used for digital printing include polyester, polycarbonate, rigid vinyl, cast vinyl, and polystyrene acrylic.

Global Growth Driven by Top 3 Markets: China, the US, and Japan

Improvements in digital printing have led to the increased use of digital inks in high-end point-of-purchase retail applications, such as soft signage printing. In soft signage printing, vinyl is being replaced with fabrics as a substrate, owing to the lightweight nature of fabrics.

The digital inks market is projected to reach USD 4.17 billion by 2023, at a CAGR of 9.1% from 2018 to 2023. The development of the digital textile market has majorly contributed to the growth of the digital inks market.

China is the largest market for digital inks in the world. Growth in the Chinese retail sector has driven the demand for digital inks in the country, especially in the advertising & promotion application. Growth has also been witnessed in the Chinese retail sub-sectors, such as cosmetics, jewelry, sports & leisure articles, furniture, communication devices, household appliances, and consumer electronics. The US and Japan, the next two largest markets after China, will also offer significant growth opportunities for the players involved in the digital inks market.