Market Research Report
Oil-Based Printing Inks Global Market Report 2022
|Oil-Based Printing Inks Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
Oil-Based Printing Inks Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global oil-based printing inks market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the oil-based printing inks? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Oil-Based Printing Inks market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider oil-based printing inks market, and compares it with other markets.
Markets Covered: 1) By Type: Vegetable Oil-Based Printing Inks; Mineral Oil-Based Printing Inks
2) By Application: Marking and Coding; Package Printing; Signage
3) By End User Industry: Packaging; Print Media; Commercial Printing; Other End-Use Industries
Companies Mentioned: Nazdar Ink Technologies; Van Son Holland Ink Corp.; Superior Printing Inks; Flint Group; Hubergroup
Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the oil-based printing inks market are Nazdar Ink Technologies, Van Son Holland Ink Corp., Superior Printing Inks, Flint Group, Hubergroup, Sun Chemical, Wikoff Color Corp., and Siegwerk Druckfarben AG & Co.
The global oil-based printing inks market is expected to grow from $10.88 billion in 2021 to $11.35 billion in 2022 at a compound annual growth rate (CAGR) of 4.3%. The market is expected to grow to $12.95 billion in 2026 at a CAGR of 3.3%.
The oil-based printing inks market consists of sales of oil-based printing inks. Oil-based inks consist of a pigment or pigments of the required color mixed with oil. For example, black inks are made from carbon blacks and thick linseed oil.
The main types of oil-based printing inks are vegetable oil-based printing inks and mineral oil-based printing inks. Vegetable-based printing ink is created from vegetable oil as a substitute for petroleum, such as soybean or maize oil. The amount of VOCs (volatile organic compounds) discharged into the air during printing is greatly reduced by using vegetable-based inks. The oil-based printing is applied in marking and coding, package printing, and signage that are used by packaging, print media, commercial Printing, and other sectors.
Western Europe was the largest region in the oil-based printing inks market in 2021. Asia Pacific was the second-largest region in the oil-based printing inks market. The regions covered in the oil-based printing inks report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The demand for environmentally friendly inks is increasing and it is expected to drive the oil-based printing inks market in the forecast period. The supply and use of several important chemicals, including ingredients used in paints, coatings, and printing inks have been banned due to an explosion and fire that occurred in March 2019 in Jiangsu Province, China. The incident has increased the demand for oil-based printing inks which can be used as a substitute for petroleum and chemical-based inks and it is produced from vegetable oils such as soybean, sunflower, cottonseed, safflower, and canola oils. For instance, Mojoprint, which is Japan's number one English-language printing service company uses vegetable oil-based printing inks derived from soy, palm, and other vegetable oils because these inks are an environmentally friendly and sustainable alternative to petroleum-based inks.
A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the printing inks market. Printing ink companies globally are suffering from a shortage of raw materials, including resins, monomers, photoinitiators, oligomers, and additives. This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution. China is dominant in printing inks raw materials supplies due to the presence of strong refinery capacity and associated chemicals manufacturing ecosystem. Market players have already started facing challenges due to shortages of raw materials. For instance, Sun Chemical, a global printing ink manufacturer, faced disruptions in its printing inks supply due to global raw material shortages resulting from ongoing environmental regulatory compliance inspections in Chinese raw material plants and factories.
The printing inks industry has introduced high-resolution replacement inks as a cost-effective alternative for barcode case coding applications. High-resolution inks are more effective than traditional inks as they allow fine and solid printing at high speed. They also enable re-printability and drastically reduce the number of cleaning stencils required. For instance, IIMAK introduced Sure Scan II Plus, a high-resolution replacement compatible inkjet ink, which reduces the cost of printing and downtime, and eliminates waste. This functions as a replacement option that offers performance in various high-resolution inkjet printers such as Foxjet, Matthews, and Diagraph. Top companies in the market are developing high definition inks with premium durability, fast dry time, and a 12-month shelf life
In October 2020, Flint Group Packaging Inks, an India-based Chemical manufacturer acquired Poteet Printing Systems LLC for an undisclosed amount. This acquisition strengthens Flint Group Packaging Inks' position within, and technical support to, the Paper & Board market in North America. Poteet Printing Systems LLC, a USA-based Chemical manufacturer.
The countries covered in the oil-based printing inks market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.