Printing inks are liquid pastes that are used in many applications because they have bonding potential, high tensile strength, and tear resisting properties. Market Research Future (MRFR) has published and released a research report about the global printing inks market that anticipates growth for this market during the forecast period between 2017 and 2023.
The key factors that can accelerate the growth of the global printing inks market include growing demand for packaging and commercial printing and growing packaging industry in the developing regions. Growing research and development (R D) activities on eco-friendly inks due to the stringent regulation on the volatile organic compounds (VOC) content mainly in North America and Europe is likely to boost the market in these regions.
The global printing inks market has been segmented on the basis of application, process, resin type, and lastly, region. Based on application, this market has been segmented into corrugated cardboard, packaging and labels, publication commercial printing, and others. The process-based segmentation segments this market into digital, flexographic, gravure, lithographic, and others. By resin type, the market segmentation covers acrylics, hydrocarbon, modified cellulose, modified rosin, polyamide, polyurethane, and others.
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The regional segmentation of the global printing inks market segments the market into the continent-based regional markets namely North America, Europe, Asia Pacific, Latin America, and the Middle East Africa (MEA). According to the report, Asia Pacific holds the major market share, and it is set to grow during the forecast period. The factors responsible for the market include growing inter-country trade in this region resulting in the use of printing inks in packaging, and corrugated boxes, growth in this region include growing population, increasing personal disposable income in the developing countries, and increasing working population. Demand for processed and on-the-go food products is creating the necessity for label and stickers that require printing ink. In this region, the significant country-specific markets are Australia, China, India, Japan, and New Zealand, followed by the rest of the Asia Pacific region.
North America is another important regional market, and it is expected to grow during the forecast period. In the reason, the market is growing primarily due to well-developed end-user industries coupled with the growing adoption rate. Other important factors responsible for market growth include demand for on the go food and beverages and regulations by the Food Drug Administration (FDA) to display product information in packaging and labels. Many key players in this market are based in North America, especially in the United States of America (USA) which is the strongest economy in this region. Other important country-specific markets in this region are Canada and Mexico.
In Europe, the market has a significant presence as well as growth potential due to regulations by governments that are similar to regulations in North America. The increasing demand for printing inks from well-developed automobile industry is also driving the market in this region. The cream of country-specific markets that generates maximum revenue includes France, Germany, Spain, Italy, and the United Kingdom (UK), followed by the rest of Europe. In Latin America, the market is growing steadily. In this region, the important country-specific markets are Argentina and Brazil, followed by the rest of Latin America. In the MEA region, the market is limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability. The cream of MEA region market comprises of Bahrain, Turkey, Israel, Qatar, Kuwait, Oman, North Africa, United Arab Emirates (UAE), and Saudi Arabia, followed by the rest of MEA region.
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Key Players
The key players global printing inks market include DIC Corporation (Japan), Flint Group (Luxembourg), Royal Dutch Printing Ink Factories Van Son (Netherland), Sakata Inx Corporation (Japan), Siegwerk Druckfarben AG Co. KGaA (Germany), Sun Chemicals (USA), Toyo Ink S.C. Holdings (Japan), TK Toka (Japan), Wikoff Color Corporation (USA), and Zeller+Gmelin GmbH Co. KG (Germany).
Latest Industry News
- Flint Group India is set to offer inks for solvent-based gravure lamination printing which are free of ketone and toluene-based solvent. 10 OCT 2018
- Xeikon will exhibit its new five-color Xeikon 3500 line at ALL4PACK 2018 on Nov. 26-29 in Paris-Nord Villepinte. 10 SEP 2018
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