Printing Inks Market Size to Cross USD 43090.6 Mn by 2031 Due to the Increasing Demand from Packaging Industry | Transparency Market Research

Wilmington, Delaware, United States, March 25, 2023 (GLOBE NEWSWIRE) -- According to Transparency Market Research, the global printing inks market was estimated to reach a global market valuation of USD 24,306.4 Mn in the year 2020. With a steadily expanding CAGR of 5.4% during the forecast period of 2021 to 2031, the market is anticipated to reach USD 43,090.6 Mn by 2031.

Major consolidations are being planned for the printing inks industry globally to boost productivity, enhance growth, and gain more negotiating power with suppliers and clients. Market consolidation has been a long-term trend, notably in the western region, with minimal organic growth.

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Market Snapshot:

It is projected that advancements in manufacturing technology, better packaging techniques, and case-ready packaging would have a beneficial impact on the printing inks industry. Additionally, improvements in food processing technology in the United States and Europe are anticipated to accelerate the expansion of the packaged food business. In consequence, it is predicted that this will increase demand for flexible packaging during the forecast period.

The booming need for energy-curing pigments in the printing & packaging industries is another important reason driving the global printing inks market expansion. UV-cured inks, solvent-UV hybrid inks, latex (resin) inks, and solid inks are some examples of energy-curing inks. Due to their exceptional qualities, zero or low volatile organic content (VOC), and expanding application range, these inks are popular on a global scale.

Key Findings of the Market Report

• The global market for printing inks is expected to garner a 5.4% CAGR from 2021 to 2031.
• In 2020, Asia Pacific was estimated to occupy the dominant market share.
• Demand for various packaging and increase in production will be the primary drivers of the market.
  

Printing Inks Market Trends

• Gravure printing inks are typically used for picture printing, although they may also be used on films, metal foils, thin papers, and paper cups. This method employs "liquid inks." Owing to the versatility of this ink technology, such print processes may cover a wide range of applications in tobacco goods, food packaging, and cosmetics on a wide range of substrates like cardboard, plastics, papers, foils, as well as labels.
• On a variety of substrates, including paper, films, laminates, foils, as well as corrugated cardboard, flexographic inks can be used. Due to their affordability and eco-friendliness, these inks are predicted to rise significantly throughout the projected period. Additionally, the requirement for flexographic ink in the United States and other European nations is aided by the rising need for flexible packaging along with cardboard printing following logistical volume.

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Global Printing Inks Market Regional Landscape

• Geographically, Asia Pacific held the largest revenue share and led the printing inks market in 2020, and it is anticipated that this dominance would last during the forecast period. The region's market growth has been influenced favorably by rising processed food consumption as well as the packaging and labeling industry's rapid expansion as a result of the establishment of several enterprises, including the food and beverage industry, the healthcare sector, consumer products, and e-commerce.
• China led the Asia Pacific market for printing inks in 2020, and this dominance is likely to continue during the forecast period. Rising packaging sector demand is likely to be a prominent driver boosting market demand in the nation. The packaging business has grown significantly in recent years as a result of the fast rise of e-commerce and the increasing demand for international shipment of non-consumer items in the country.

Global Printing Inks Market: Key Players

• Flint Group
• Sun Chemical Corporation
• Altana AG
• Siegwerk Druckfarben AG & Co. KGaA
• Sakata INX Corporation
• Wikoff Color Corporation
• T&K Toka Corporation
• Toyo Ink Group
• Zeller+Gmelin GmbH & Co. KG
• Royal Dutch Printing Ink Factories Van Son
• Huber Group
  

Some developments by the key players are:

• Sun Chemical purchased SAPICI in January 2022. Sun Chemical has strengthened its integrated supply strategy in the packaging sector with the purchase of SAPICI by gaining the capacity to create distinctive polymers for the company's whole line of coatings, inks, and lamination adhesives. Industrial adhesives, elastomers, varnishes, and sealants are also included in this extensive and distinctive polymer range.
• Encres DUBUIT purchased POLY-INK in January 2022, expanding their product line by including conductive Inks. Through this purchase, the business has united its expertise in application engineering and nanomaterial science. Thanks to the acquisition of POLY-INK, Encres DUBUIT is now in a good position to take use of its larger client base to develop creative biosourced solutions and replace indium tin oxide (ITO) in sensors, flexible displays, OLEDs, touch screens, as well as photovoltaic cells.

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Global Printing Inks Market: Segmentation

By Product

• Solvent-based
• Water-based
• Oil-based
• Others

By Process

• Gravure
• Flexographic
• Lithographic
• Digital
• Others
  

By Application

• Packaging & labels
• Publication & Commercial Printing
• Others
  

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa
  

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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