Market Research Report
Global Printing Inks Market - 2019-2026
|Published by||DataM Intelligence||Product code||803313|
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|Global Printing Inks Market - 2019-2026|
|Published: December 1, 2019||Content info:||
Global Printing Inks Market Overview
The global printing inks market was worth $XX million in 2018 and is expected to reach $XX million by 2026, at a CAGR of XX% during the forecast period.
Printing inks contain pigments or dyes which are used to produce an image, text or designs. These are used in the publishing, packaging, and promotion industries and are used in varied printing processes, including flexography, lithography, digital printing, and gravure. The market for eco-friendly inks is expected to increase over the forecast period. The development of advanced printing processes such as ink jets and UV-curable inks also provide considerable growth opportunities by creating new avenues for the market.
Global Printing Inks Market - Market Dynamics
Increased demand for eco-friendly inks is one of the major drivers of the market. Rising environmental concerns are influencing regulatory authorities to update standards for the printing industry, which ranks fifth in the emission of VOC globally. Further, there is growing concern regarding the quantity of heavy metals contained in inks.
The demand for vegetable oil-based and biodegradable inks is growing. Vegetable oil- based and biodegradable inks reduce or eliminate the use of mineral oils in inks, conserve non-renewable reserves, and minimize the emission of VOC. The primary advantage of eco-friendly inks is the improved recyclability of paper as it enables efficient separation of ink from paper.
The growth of the global packaging industry since 2005 had a significant impact on the development and expansion of the global printing inks market, especially for liquid waterborne printing inks. The growth in the packaging industry is attributable to the increased demand for flexible packaging from the consumer goods industry. The market growth is also fostered by the rise of technological innovations in packaging since 2005. The shift in perception of packaging as a tool and an essential measure of marketing and promotion strategies has also had a positive impact on the market growth.
However, the increase in awareness about the presence of e-books and stringent government environmental regulations on the production of the inks is restraining the printing inks market growth. Also, the emission of volatile organic compounds and toxic metals present in some inks of printing solutions is hampering the market growth.
Global Printing Inks Market - Segment Analysis
Based on applications the global printing inks market is broadly segmented as packaging, decorative printing, newspaper & other commercial printings, textile and others. Among all these packaging applications accounted for significant market share. In the forecast period, it is expected to grow at a higher pace, owing to its numerous applications such as for displaying sequential barcode and numbering, transportation details during shipping, titles, variable text, graphics, and others to change the appearance of products. Also, the steady rise in the cosmetic, food & beverage and pharmaceutical industries are propelling the need for packaging in these. For instance, according to Beverage Industry Magazine, Anheuser-Busch InBev is one of the leading beverage companies in the market. In 2017, its sales of packed beverages exceeded USD 56.44 billion.
Based on the product the global printing inks market is broadly classified as water-based, UV curable, solvent based and others. Among all these water-based printing inks accounted for the significant market share owing to less flammability, low VOC emissions, and stable viscosity during printing. Increasing non-volatile organic compound-based inks demand is considered to be the significant factor propelling the industry. Furthermore, favoring government norms, low cost and abundant availability of water will further boost the flexographic printing inks market. These are most commonly used in paper, foils, food packing, newspaper, and cardboard printing.
Global Printing Inks Market - Geographical Analysis
The global printing inks market is segmented as North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific occupies the dominant share in the printing inks market and is expected to grow at a CAGR of XX% in the forecast period owing to drastic growth in the pharmaceutical and cosmetic industry, & food & beverage. This growth is primarily due to improved consumer lifestyles. Also, the increase in purchasing power of buyer is boosting the market. Furthermore, the shift of pharmaceutical manufacturers focuses towards establishing their manufacturing facilities in India, China and South East Asia, due to high medicine demand along with low initial investment are boosting the market. For instance, according to Business Monitor International (IFPMA), in 2014, the pharmaceutical industry in Indonesia generated approximately USD 5.9 billion.
Global Printing Inks Market - Competitive Analysis
The global printing inks market is fragmented and has many regional and global players. The market is highly price sensitive, which is leading to price wars among the vendors. These factors are affecting the consolidation of the industry, but profit margins will continue to increase because of the increasing demand from APAC.
Huge R&D investments are being made to develop new competitive technologies and innovations to provide convenience to customers and lower costs. Significant players of global printing ink market are Royal Dutch Printing Ink Factories Van Son, TOYO Ink Group, Sakata INX Corporation, Wikoff Color Corporation, Sun Chemical, Flint Group, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Corporation, InkJet Inc., Huber Group and others. In March 2018 InkJet, Inc., NiceLabel partnered to offer advanced labeling solutions. In January 2019, Huber group has reinvented its MGA NATURA series for folding carton food packaging.