Global ceramic inks market is expected to witness significant growth on account of growing construction & infrastructure industry. Increasing construction spending in emerging economies of Asia Pacific and Latin America is expected to drive the global market growth. High demand for decorated tiles and glass is expected to fuel the market growth. Ceramic ink is used in ceramic tile printing, food container printing and glass printing. Increasing demand for above mentioned printing forms in construction is expected to foster global market growth. Increasing ceramic inks application scope in vitrified tiles, porcelain tiles and automotive glass is expected to further strengthen the market growth. Technological advancements in construction & infrastructure industry are further expected to augment market growth. Shift in trend towards replacing paints, metal slabs and marbles with ceramic products is expected to further contribute towards global ceramic inks market growth. Market participants are expected to face challenges from high costs involved in print setup and sample designing in analog printing.
Asia Pacific emerged as a major ceramic inks regional market on account of growing infrastructure industry in the region. India, China and Southeast Asia are expected exhibit high ceramic inks demand over the forecast period. Asia Pacific is further expected to grow on account of high investments in key end-use industries and rising income levels in the region. Untapped markets of Middle East and Latin America have huge potential and are expected to grow significantly over the forecast period. Growth of construction industry in Mexico and increasing automotive production in the U.S. is expected to drive the North American ceramic inks market over the forecast period. Europe is expected to witness sluggish growth rates on account of economic crisis in Western Europe. Stagnant growth from major industries such as construction, automotive, and packaging is expected to be a major factor restraining the market growth.
Key players operating in the global ceramic inks market include Xennia Technology, Imak, Dip-Tech, Arrow Systems Ink, Electronics for Imaging Inc., Six Stars Ceramic Inks Ltd., Unico Digital S.A., Chimigraf Lberica S.L., Fritta S.L., Torrecid and Vaanix Industries Pvt. Ltd. Major companies are involved in expanding their presence in emerging markets to enhance their global presence and strengthen their market position.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.