Global Printing Inks Market - Segmented by Type, Process, and Application - Growth, Trends, and Forecast (2018 - 2023)
The global printing ink market is expected to grow at a significant rate during the forecast period of 2018-2023. This growth is estimated due to its various increasing applications in the field of packaging, commercial and publication, textiles, and others (including decorative printing, security printing, etc.). Asia-Pacific is estimated to lead the market owing to its rapid economic development in countries, like India and China.
One of the major drivers of the growing demand in this market is the increasing environmental concern around the globe and government policies encouraging environment-friendly products in the developed and developing nations.
Growing Demand from Digital Printing Industry
The market for digital printing is growing at a rapid rate mainly due to its high demand in packaging. High advancement in product innovation has been increasing in recent times for folding cartons, flexible films, labels, etc. The major advantage of digital printing is its capacity to produce short print runs, being economical, and its usage to print a variety of different designs. Printing-on-demand reduces the waste produced. All these advantages are acting as a catalyst for the growing demand for global printing ink market.
Printing ink producers are still contending with continued downward pressure on margins from intense competition in high-volume printing segments. Also, persistently increasing raw material costs are few of the market restrains.
Packaging Industry Drive the Demand
The demand for printing inks is driven by the rapid growth of the packaging industry. The increasing demand for flexible packaging from the consumer goods industry and the adoption of several technological innovations in packaging have led to a significant growth of the packaging industry. The packaging industry is also rising rapidly with a significant demand from the food & beverage industry. The consumption of bottled water has been witnessing a continuous growth and is expected to rise further. Bottled water consumption accounted for about 117084.3 million gallons in 2017. Thus, the growing packaging applications are expected to fuel the market for printing inks during the forecast period.
Meanwhile, new markets, like conductive Inks and printed electronics, are emerging which will show new applications in this space.
China, the Emerging Leader in the Market
The landscape of China’s ink industry is relatively stable, with foreign companies still holding most market share. However, with small- or middle-sized printing companies spread throughout China, the domestic ink companies are taking advantage of their flexibilities and efficiencies and growing their businesses in the printing ink market around the world. With policies like, China’s legalized environmental regulations, the market for environment-friendly inks will grow much faster. Southeast-Asia registered the highest CAGR due to the growing demands from China.
Notable Developments in the Market
March 2018: InkJet, Inc., NiceLabel partnered to offer advanced labeling solutions.
August 2017: Hubergroup, INGEDE seek deinkable UV ink.
The major players include - DIC/SUN CHEMICALS, FLINT GROUP, TOYO INK, SAKATA INX, SIEGWERK GROUP, and DOWDUPONT, amongst others.
Reasons to Purchase the Report
To understand the impact of end-user applications on the market.
Analyzing various perspectives of the market with the help of Porter’s Five Force analysis.
Countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
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