The market for printing inks was estimated at USD 2.1 billion in 2020, and from 2021 to 2028, it is anticipated to expand at a CAGR of 3.9%. Over the projection period, the market is predicted to develop moderately. This market has been significantly influenced by factors including the expanding end-use industry, which includes flexible packaging, commercial printing & publishing, and package labels.
These products are anticipated to remain in high demand in the future due to their greater ability to produce text, design, or images, as well as increased demand from the packaging industry, commercial printing, and shifting consumer preferences.
Major consolidations are being planned for the printing inks market globally in order to boost productivity, enhance growth, and gain more negotiating power with suppliers and clients. Particularly in the western market, market consolidation has established itself as a long-term trend with little organic development.
Market Trends for Printing Inks
Initially, newspapers, periodicals, and journals were printed primarily using printing inks. However, the application range of printing inks has changed from commercial printing & publication to the packaging industry as a result of fast urbanisation and the expanding digitalized needs of customers. As one of the most effective ways to market and advertise items, printing inks are used in the packaging sector to print on packing materials to make them appealing to consumers.
Better alternatives for individualised packaging are provided by flexible packaging. The food and beverage industry is the main driver of flexible packaging demand, and the category of snacks and confectionery has experienced significant development as well. Moreover, one of the major aspects boosting the expansion of the flexible packaging business is the rising need for food as a result of the expanding world population. The vibrant flexible packaging market is predicted to present the printing inks market with significant potential opportunities.
Furthermore, the printing inks market is predicted to benefit from advancements in production technology, better packaging techniques, and case-ready packaging. Additionally, improvements in food processing technologies in the United States and Europe are anticipated to accelerate the expansion of the packaged food industry. In consequence, it is predicted that this will increase demand for flexible packaging.
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In terms of value, the lithographic category had a significant portion of the market in 2020. Due to a combination of excellent prints and effectiveness in large-scale projects, the segment is anticipated to have significant expansion over the course of the projection period. Additionally, flat material like fabric, foil, paper, plastic, and flat cardboard are appropriate for this lithographic method.
Photographs can be printed using gravure printing inks, which can also be used to print on paper cups, thin papers, films, and metal foils. In this procedure, “liquid inks” are used. These printing technologies can be used to produce a wide range of applications for food packaging, tobacco products, and cosmetics on a range of substrates, including cardboard, paper, plastic, foil, and labels.
insight into resin
The fastest-growing resin category, polyurethane, is anticipated to generate more than 16% of resin sales in 2028. The sort of ink generated is significantly influenced by the resins’ composition. Producing lithographic solvents requires the use of hydrocarbons and modified rosins, while gravure and solvent-based flexographic goods are made with polyamides and polyurethanes. Due of its quicker drying characteristics, availability, and affordability, acrylic is the most commonly employed resin type while creating solutions.
The largest and fastest-growing ink application segment is packaging & labels, which generates over 45% of the segment’s overall revenue. Due to factors including the expansion of the middle class in developing countries like Thailand and India, shifting consumer preferences toward more convenient food packaging and online retailing due to widespread internet use, and the demand for biodegradable products, the growth of this application has seen a flourishing trend over the past five years.
With a 35.60% sales share in 2021, Asia Pacific was the global leader for printing inks. In 2021, Asia Pacific dominated the worldwide printing inks market, and it is anticipated that it will do so again throughout the forecast period. The region’s market growth has been influenced favourably by rising packaged food consumption as well as the packaging and labelling industry’s rapid expansion as a result of the emergence of numerous businesses, including the food & beverage industry, consumer goods industry, health care sector, and e-commerce.
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Market share information for printing inks
Due to the existence of vertically integrated main competitors with cutting-edge technological solutions, equipment, and channels for procurement and distribution, the worldwide ink market is extremely competitive. The industry has undergone significant regional consolidation, including expansions, mergers, and acquisitions, which has increased industry competition. Epple Druckfarben Italia S.r.I in Milan, Italy, a subsidiary of Epple Druckfarben for better German offset printing inks in Italy, and the Kansas, U.S. facility, which was an expansion strategy of Sakata Inx Corporation, are a few examples of growth strategies. Important market participants include
- Flint Group
- Sakata Inx Corporation
- DIC Corporation
- Fujifilm North America
- SICPA Holding SA
- Toyo Ink SC Holdings Co. Ltd.
- Siegwerk Druckfarben AG & Co. KGaA
- Tokyo Printing Ink Mfg. Co. Ltd.
- T&K Toka Co. Ltd.
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