According to a recent market research report published by Transparency Market Research, the global printing inks market is estimated to expand at a CAGR of 5.0% during the period between 2014 and 2020. The report, titled “Printing Inks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” projects the global printing inks market to be worth US$20.17 bn by 2020. The overall market was valued at US$14.41 bn in 2013.
Printing inks usually contain pigments of required color mixed with varnish or oil. For example, a black ink is made from carbon blacks and thick linseed oil. Printing inks flow smoothly and dry faster, and their consistency makes it possible to hold enough color to make printed matter legible.
The growing demand from the packaging industry is expected to boost the growth of the global printing inks market. Rising demand for UV-cured inks from various printing processes is also expected to fuel market growth. However, the increasing popularity of e-books, and stringent government regulations will hamper the demand for printing inks in the near future. The introduction of bio-based printing inks is expected to create new growth opportunities for the market.
In terms of process types, the report categorizes the global printing inks market into gravure, lithographic, digital, flexographic, and others including letterpress printing. In terms of volume, the lithographic printing segment accounted for 40% of the market and dominated the overall market in 2013. The digital printing segment is anticipated to be the fastest growing segment during the forecast horizon with the rising demand for digital printing and an increasing number of households buying printing inks.
On the basis of product type, the global printing inks market has been divided into oil-based, water-based, solvent-based, and other printing inks. The water-based inks segment is expected to witness the fastest growth by 2020 as water-based inks are environment-friendly. Presently, the global printing inks market is dominated by oil- and solvent-based inks.
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In terms of applications, the global printing inks market has been categorized into publication and commercial printing, packaging, and others including decorative printing. Packaging was the largest application segment in 2013 owing to the steady growth in demand for flexible packaging across various industries. The packaging segment is expected to continue its dominance through 2020. In the packaging industry, printing inks are being increasingly used in metal cans, tags and labels, and flexible materials.
The report studies the global printing inks market across Europe, Asia Pacific, North America, and Rest of the World. In terms of volume, North America dominated the overall market with share of 30% in 2013. The growing demand for commercial printing and flexible packaging is expected to fuel the demand from this regional market. However, during the forecast horizon, Asia Pacific is projected to emerge as the fastest growing region owing to the rising demand for printing inks from China and India. In the U.S. and Europe, the market is estimated to witness steady growth in the coming years.
Describing the competitive landscape, the report profiles some of the key players in the global printing inks market such as TOYO Ink Group, Wikoff Color Corporation, T&K TOKA Corporation, Royal Dutch Printing Ink Factories Van Son, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, Sakata INX Corporation, Huber Group, Sun Chemical Corporation, Zeller+Gmelin GmbH & Co. KG, and ALTANA AG. The report provides detailed information about the key players including financial overview and recent developments.
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