Printing Inks Market Growth – Size, Share, trends, covid-19 impact, and forecasts (2022 - 2030)
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 growth 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 Growth 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.
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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.
Competitive Analysis:
Some of the prominent players operating in the global printing
inks market growth 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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