The increasing demand from packaging & labels industry proliferated the growth of the printing inks market over the forecast period.
The global printing inks market was valued at US$ 18.47 Bn in 2020 is expected to reach US$ 25.13 Bn by 2027, with a growing CAGR of 4.5% during the forecast period (2021-2027).
The increasing adoption of 3-D technologies and their high adoption across end users across the globe is one of the major factors that has accelerated the growth of the printing inks market since last few years. The 2D inks are utilized for the making of planar surfaces whereas 3D inks are used for the making of volumetric constructs and devices. For instance, the scientists of the Georgia Institute of Technology, Atlanta, in 2018, introduced a novel ink, which, when combined with a new method of printing and with varying lighting, hardens with the 3D printing object..
The development in the food industry and increasing population in the countries such as China, India, the United States and others boost the growth of the packaging industry, which in turn, accelerates the demand for printing inks. For instance, according to the report published by PMMI (The Association for Packaging and Processing technologies), the growth in the global packaging industry is anticipated to reach USD 42.2 billion by 2021, an increase from USD 36.8 billion in 2016, owing to the increasing population, growing sustainability concerns, more spending power in developing regions, and rising demand for smart packaging. However, an increase in awareness about the presence of e-books and stringent environmental regulations on the production of the inks are expected to restrain the market growth.
Based on resin, polyurethane is the fastest-growing resin segment and is anticipated to account for over 18% of the resin revenue in 2027. The composition of the resins is a significant factor for the type of ink produced. Hydrocarbons & modified resins are used for producing lithographic solvents, polyamides & polyurethanes are used for manufacturing gravure and solvent-based-flexographic products.
Global Printing Inks Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, Asia-Pacific dominated the printing inks market in 2020 and expected to hold the largest revenue share during the forecast period. The emergence of advanced technologies & solutions in developing economies such as China, India, & South Korea along with the growing demand for convenient packaging solutions are the key factors which are responsible for the growth of printing inks across the region. Moreover, the rapid expansions of e-commerce industries in the region are the significant factors to accelerate the growth of the printing inks during the forecast period. For instance, according to the report published by IBEF (Indian Brand Equity Foundation), 2021, India’s e-commerce order volume increase by 36% in the last quarter of 2020, with the personal care, beauty & wellness segment being the largest beneficiary.
The Global Printing Inks Industry Segmentation:
Global Printing Inks Market by Product Outlook (Revenue, USD Million, 2021-2027)
Global Printing Inks Market by Resin Outlook (Revenue, USD Million, 2021-2027)
Global Printing Inks Market by Application Outlook (Revenue, USD Million, 2021-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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