Wilmington, Delaware, United States, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The gravure printing inks market was estimated to have acquired US$ 3.9 billion in 2022. It is anticipated to register a 4.3% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 5.7 billion.
Rising demand for packaged goods is a result of rapid urbanization and lifestyle changes. This is expected to increase consumer acceptance of eye-catching and educational packaging. In order to develop their identity and stand out in a congested market, brands are making use of packaging. Gravure printing makes it easier to realize complex branding components and design intricacies.
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Global Gravure Printing Inks Market: Key Players
An extremely limited number of dominant global manufacturers of gravure printing inks hold the majority of the market share. To increase their product line, the majority of gravure printing ink producers make large investments in product research and development.
With these improvements, gravure printing will be able to handle a wider variety of substrates and applications while also strengthening print quality as well as environmental sustainability.
The following companies are well-known participants in the global gravure printing inks market:
- Toyo Ink SC Holdings Co. Ltd.
- Sakata INX Corporation
- Wikoff Color Corporation
- Dainichiseika Color & Chemicals Mfg. Co., Ltd.
- Siegwerk Druckfarben AG & Co. KGaA
- Huber Group
- Tokyo Printing Ink Mfg. Co., Ltd.
- DIC Corporation
- FUJIFILM Holdings Corporation
- Marabu GmbH & Co. KG
- Nutec Digital Ink
Key developments in the global gravure printing inks market are:
- INX International Ink Co., a significant North American ink manufacturer, and VerifyMe, Inc., a technology solutions provider that specializes in counterfeit avoidance, authentication, serialization, along with track and trace features for packaging, labels, and products, signed a supply agreement in February 2021.
In the next years, the growth of the gravure printing inks market is anticipated to be fueled by the expansion of the e-commerce industry. Products are protected throughout transport by packaging, which also creates an engaging unpacking experience. The demand for high-quality printing is consequently growing. Gravure printing perfectly fills this demand because to its capacity to produce lifelike pictures and complex patterns.
Key Findings of Market Report
- For packaging, a variety of end users are progressively implementing eco-friendly gravure inks to reduce their environmental effect and advance sustainable practices.
- With the use of water-borne gravure inks, companies can tell their customers how committed they are to sustainability.
Market Trends for Gravure Printing Inks
- The nitrocellulose resin segment is anticipated to rule the market during the projected period. Inks made from nitrocellulose are renowned for their adaptability, quick drying times, and superb adherence to a variety of surfaces. They become a popular option for gravure printing purposes across sectors as a result of this fact.
- Inks made from nitrocellulose stick to porous as well as non-porous materials including film, paper, and metal with ease. They may be used in periodicals, labels, packaging, and other printed items thanks to their adaptability. For high-volume printing operations, nitrocellulose inks are the best choice because of their quick drying characteristics, which considerably increase production speeds.
- Inks made from nitrocellulose are renowned for their adaptability, quick drying times, vivid color reproduction, and superior adherence to a range of surfaces.
- The sector's growing emphasis on sustainability is encouraging the investigation of alternative ink formulations that comply with environmental norms and laws, despite the fact that they have a number of benefits.
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Global Market for Gravure Printing Inks: Regional Outlook
Various reasons are propelling the growth of the gravure printing inks market in different countries. These are:
- Asia Pacific is expected to have the majority of the share from 2023 to 2031. In 2022, the area held a 42.5% share. The region's market dynamics are being fueled by the rapid industrialization and growth of the manufacturing sector, notably in nations like India, China, Japan, and South Korea.
- The expansion of the market in North America is being fueled by the presence of a widely recognized packaging industry, a rise in product development investment, and a strong focus on product appearance and branding. Gravure printing inks are being used by the food and beverage, pharmaceutical, cosmetics, and other sectors in the area for high-quality printing.
- Market trends in Europe are driven by mature packaging and labeling industries and the execution of strict rules regarding package information and safety. During the projection period, the industry is expected to expand slowly in the regions of Latin America, the Middle East, and Africa.
Global Gravure Printing Inks Market Segmentation
- Resin
- Nitrocellulose
- Polyamide
- Polyurethane
- Acrylic
- Others
- Technology
- Water-based
- Solvent-based
- Others
- Application
- Packaging
- Publication
- Furniture
- Others
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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