Printing Inks Market, Overview, Growth, Trends, covid-19 impact, and forecasts (2021 - 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.
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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 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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