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Increasing Investments in Infrastructure Development in Emerging Economies to Prominently Drive Ceramic Inks Market Potential
United States, Rockville MD, June 15, 2022 (GLOBE NEWSWIRE) — In 2022, the ceramic inks market stands at a valuation of US$ 2.34 billion and is anticipated to reach US$ 4.93 billion by the end of 2032. As per this new analysis by Fact.MR, a market research and competitive intelligence provider, worldwide consumption of ceramic inks is predicted to increase at a CAGR of 7.7% through 2032.
Urbanization and industrialization have fueled the demand for infrastructure development on a global scale, and this has resulted in an increase in construction activities, which subsequently drives the demand for construction materials such as tiles, glass, etc. Ceramic inks are used for decorating tiles and glass in construction projects; hence, increasing construction activity is expected to drive market growth through 2032.
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Increased automotive manufacturing is also expected to propel the demand for ceramic inks across the forecast period. However, limited availability of colors in ceramic inks is anticipated to have a restraining effect on the global ceramic inks industry growth. Ceramic ink manufacturers are focusing on acquisitions and mergers to improve their market presence on a global scale and strengthen their revenue generation capacity.
In January 2020, Esmalglass-Itaca Group, a Spanish multinational organization, announced the acquisition of the Tile Coatings Business of Ferro Corporation. The acquisition was valued at US$ 460 million and some additional amount based on pre-closing business performance.
Why is the APAC Region Seen as a Highly Opportune Market for Ceramic Inks?
“Supportive Government Initiatives to Boost Development Will Drive Ceramic Ink Demand”
Asia Pacific region is anticipated to be highly lucrative for ceramic ink manufacturers owing to rapid urbanization and industrialization in this region. Demand for infrastructure development in this region is increasing and is resulting in increased construction activity. This is driving demand for construction materials such as glass and tiles which utilize ceramic inks extensively.
Increasing disposable income, rising demand for tiles and decorative glass, and growing demand for decorative ceramic tableware are other factors that positively influence sales of decorative ceramic inks in this region through 2032.
The APAC ceramic inks market is projected to account for a dominant market share of 30.4% by 2032 while expanding at a high CAGR of 8.4%.
The economies of India and China are anticipated to lead the ceramic inks market growth in this region throughout the forecast period owing to rising infrastructure development activity in these countries.
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Key Segments Covered in the Ceramic Ink Industry Survey
Competitive Landscape
Key ceramic ink manufacturers are focusing on expanding their business scope by acquiring new investments and increasing their market presence.
Ceramic ink companies are also expected to increase the launch of new products to boost their sales potential over the coming years.
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In January 2021, a team of scientists at the University of New South Wales produced ceramic-based ink for the 3D printing of bone components. The ink is made up of calcium phosphate, and hence, can also be used to repair damaged bone tissues.
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In December 2020, Tecglass, a leading digital glass printing supplier based in Spain, announced the launch of its new professional ink line. The JETVER HA series of inks are designed to deliver durability and precision, especially for the in-home appliance sector.
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Key players in the Ceramic Ink Market
Key Takeaways from Ceramic Ink Market Study
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Ceramic inks industry revenue is valued at US$ 2.34 billion in 2022.
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The global ceramic inks market is set to evolve at a high CAGR of 7.7% across the period of 2022-2032.
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By the end of 2032, the ceramic inks market is expected to account for a valuation of US$ 4.93 billion.
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Increasing construction activity, rising automotive manufacturing, increasing use in food packaging, and technological advancements in printing technology are expected to boost ceramic ink demand.
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Demand for ceramic inks in Europe is projected to increase at a CAGR of 8.8% through 2032, and this regional market currently accounts for US$ 613.3 million.
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The functional inks segment is expected to account for a dominant market share of 56.2% by 2032.
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Use of ceramic inks in ceramic tile application is anticipated to account for a revenue total of US$ 1.9 billion by 2032, currently accounting for a market share of 35.9%.
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