printing inks market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2021 to 2027
Printing inks are used in a wide range of applications owing to high tensile strength, bonding potential and tear resisting properties. The rising demand for packaging & labels in various industries across the globe is substantially affecting the growth of the printing inks market. The global printing inks market has been driven by a range of application such as labels and packaging, corrugated cardboards, commercial printings, and publications among others. Moreover, it is estimated that the packaging and labels application sector is set to witness the highest growth due to the growing application of printing inks in both secondary and primary labels, which are extensively used in the packaging industry.
Market Segmentation:
The global printing inks market is
segmented into process, resin type, and application. On the basis of the
process, the market is segregated into gravure, flexographic, lithographic,
digital, and others. The market by resin type is bifurcated into modified
rosin, hydrocarbon, modified cellulose, acrylics, polyamide, polyurethane, and
others. The market by application is further bifurcated into packaging and
labels, corrugated cardboards, publication & commercial printing, and
others.
Market Scenario:
The lithography printing inks
process segment is anticipated to observe a higher CAGR during the forecast
period. The enhanced and superior qualities of these printing inks such as
image quality and low cost among others find its application in wide range of
materials. Moreover, the growing demand for food & beverage and the
automotive industry is also significantly adding to the growth of the segment.
The global Printing
Inks Market is spanned across five key regions: Asia Pacific, North
America, Europe, Latin America, and the Middle East & Africa. Among these,
Asia Pacific holds a major share of the market and is expected to be the
fastest growing region at an exponential CAGR. The presence of the most
populated countries of the world such as India and China has augmented the
demand for various sectors such as food and beverage, personal care, home care,
and automotive among others, which, in turn, is anticipated to fuel the demand
for printing inks in the region. Moreover, the growing processed food demand
mainly in Japan, India, and China owing to the growing working population and
changing lifestyle is also expected to contribute to the market. The European
region is estimated to witness a significant growth in the countries owing to
burgeoning personal care, pharmaceutical industry, and packaging.
The increasing demand for printing
inks from well-developed automobile industry is driving the market to a
positive growth. The North American printing inks market is mainly driven by
the U.S. and Canada. The presence of the developed end-user industries coupled
with the increasing adoption rate is contributing significantly to the growth
of the market. Moreover, the growing use of processed food and beverages among
others is fuelling the growth of the printing inks market in this region.
Furthermore, the developed packaging industry coupled with increasing export of
food and other consumer goods from the region has augmented the use of printing
inks in barcodes and product informative labels which is also contributing to
the market growth.
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Competitive Analysis:
Some of the prominent players
operating in the global printing inks market are Flint Group (Luxembourg), DIC
Corporation (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Sakata
Inx Corporation (Japan), Toyo Ink S.C. Holdings (Japan), T&K Toka (Japan),
Wikoff Color Corporation (U.S.), Sun Chemicals (U.S.), Royal Dutch Printing Ink
Factories Van Son (Netherland), and Zeller+Gmelin GmbH & Co. KG (Germany)
among others.
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