Printing Inks Market Overview
The market value of the printing inks industry was at USD 19.6 billion in the year 2021 and it is expected to surpass the market value of over USD 23.8 billion by the year 2028 while registering a CAGR of 2.8% during the forecast period
The development of the printing sector in terms of technology is estimated to spur the printing inks market created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market is estimated to be fueled by a growing CAGR in the forecast period.
The need for eco-friendly practices is estimated to create momentum for the expansion of the printing inks market share. The increased requirement from the packaging sector is estimated to fuel the development of the printing inks market companies.
Segmental Analysis
The segmental study of the printing inks market is conducted on the basis of technology, resin type, region, and application. The technology segment of the printing inks market consists of water-based and solvent-based. The resin type segment of the printing inks market consists of polyamide, nitrocellulose, acrylic, and polyurethane. The application segment of the printing inks market consists of publication, product & promotion, packaging, and others. The regions included in the printing inks market consist of Latin America, Europe, Asia Pacific, and North America.
Detailed Regional Analysis
The regional investigation of the printing inks market consists of Latin America, Europe, Asia Pacific, and North America. The Asia Pacific printing inks market controls the major portion of the global market owing to the increasing requirement for rotogravure printing inks in publication, product & promotion, packaging, and others. The packaging segment is projected to add momentum to the market’s growth due to the growing use of inks to add a glossy finish on catalogs, images, which are in incredibly high usage in countries such as Japan, China, and India. Consequently, adding to the development of the APAC region’s position in the forecast period. The North American region is increasing considerably in the rotogravure printing inks market due to the collective need for nitrocellulose and polyamide resins in the packaging sector. In the European region’s market, the packaging application has witnessed outstanding progress. This is credited to the increase in automotive and food & beverage businesses. Additionally, an upsurge in publicity activities to reach out to customer necessities is also estimated to supplement the rotogravure printing inks market. The Latin American region’s rotogravure printing inks market is appraised to witness significant development in the market due to the rising use of rotogravure inks in publication, packaging, and product & promotion segments owing to its non-carcinogenic content and outstanding quality presented by them.
Competitive Analysis
The market is appraised to be stimulated by an increased development upsurge that is bracing the contenders who are active in the market. The competition in the market is estimated to flare-up following the disruption created by the COVID- pandemic. The emphasis on ensuring sustainability in long-term operations is estimated to be a key cause for development in the upcoming period. The trends in the market are estimated to bolster the progress in the worldwide market. The tendency to invest and expand capacities is estimated to create a promising scope for the market in the impending years. The change in several regulations that are running the development of the market is estimated to impact the innovations that can be seen in the global market. The increased contribution of online channels towards the swell in transactions is predicted to further encourage the advancement of the market in the future. The government intervention in the creation of opportunities that can incentivize the development of key regions in the market is predicted to further add an optimistic touch to the proceedings in the market.
The prominent contenders in the the printing ink company are DIC CORPORATION (Japan), Toyo Ink SC Holdings Co., Ltd. (Japan), Flint Group (Luxembourg), Dainichiseika Color & Chemicals Mfg.Co., Ltd. (Japan), T & K TOKA Corporation (Japan), SAKATA INX CORPORATION (Japan), MHM Holding GmbH (Germany), Tokyo Printing Ink MFG. Co., Ltd. (Japan), Siegwerk Druckfarben AG & Co KGaA (Germany), and Wikoff Color Corporation (U.S.), among others.
Industry Updates:
Mar 2021 Flint Group Image Transfer Technologies has presented Enviroflex, a set of biodegradable products for cleaning anilox rollers and rotogravure cylinders, flexo presses, and flexo plates, and flexographic printing services. According to Flint, the Enviroflex biodegradable product range has been advanced to produce a safe work setting whilst presenting daily maintenance or weekly/monthly deep washing and also guarantees delivery of the highest possible print quality and optimum Overall Equipment Effectiveness (OEE).
Dec 2020 Lorpon Labels of Canada has amplified its digital label production volume with a novel HP Indigo 6900 Digital Press, progressing agility to bring labels with the fast change to back the upswing in demand for food packaging. The HP Indigo solution can correspond to roto-gravure while bringing the best print register in the industry.
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