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Digital Inks Market Insights, Leading Players and Future Scope
Digital inks are extensively used in the packaging industry in various regions such as Asia-Pacific, South America, the Middle East and Africa, and North America.
By: P&S Intelligence
Moreover, the surging investments in research and development (R&D) of printing technology will help the digital inks market advance at 5.4% CAGR during 2017–2023. According to P&S Intelligence, the market revenue reached $1,147.4 million in 2016. In recent years, digital ink manufacturers, such as Nitro Quimica and Siegwerk Budingen, have heavily invested in R&D to improve their products and services in the printing sector. Furthermore, Siegwerk Budingen has made extensive investments in the establishment of regional centers of excellence, dedicated to the manufacturing and automation domains.
Additionally, the burgeoning demand for packaged consumer goods in North America, South America, the Middle East and Africa (MEA), and Asia-Pacific (APAC) will also fuel the consumption of digital inks in the foreseeable future. The escalating demand for packaged consumer goods in such regions can be attributed to the rising gross domestic product (GDP), mounting disposable income of people, booming population of youth, and changing lifestyle of customers. Digital inks are being used by the packaging industry in tags and labels, metal cans, and flexible materials of the packaged consumer goods.
Geographically, North America led the digital inks market (https://www.psmarketresearch.com/
Therefore, the rising technological advancements in printing technology and mounting investments being made in R&D will propel the usage of digital inks in the future.