Digital printing is the newer technology with the highest growth potential in the future. The faster adoption of 3-D technologies across the globe is the significant factor to drive the growth of the printing inks market over the forecast period owing to the rising demand for 3D printing technology from consumers, researchers, and industrial production. The 2D inks are used 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 global printing inks market was valued US$ 18.5 Bn in 2020 is expected to reach US$ 25.1 Bn by 2027, with a growing CAGR of 4.5% during the forecast period (2021-2027).
Printing inks are a complex mixture of chemical compounds. The composition of printing inks differs by the printing process, by sheet-fades or web-fed, and by the target substrate. It is utilized in the coloring of paper, plastics, metal, glass, and textiles. These inks are categorized by multiple processes such as lithography, rotogravure, flexography, and digital printing, among others.
In addition to this, the increasing demand from the packaging industry is expected to accelerate the growth of the printing inks market during the forecast period. Digital printing is widely used in packaging industry owing to the quick turnaround capability that digital printing offers, it has been very popular among various brand owners. Moreover, 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, accelerate 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.
The unique insights provided by this report also include the following:
Based on product, the lithography process segment is anticipated to holds the substantial market share
The three most used manufacturing processes include flexography, rotogravure, and lithography/offset, accounting for a significant share in the printing inks industry. The lithography process holds the most important share of approximately 28% in 2020, due to its advantage to produce the superior quality of images for smooth and practical surfaces in a cost-effective manner. On the other hand, the gravure process is a high cost and high-speed process and is necessarily used for the reason to reproduces very fine details.
The increasing demand from the various industries for digital and electrostatic printing (nonimpact imaging processes) is an emerging trend in the printing inks market. The digital process is the fastest-growing segment in the printing inks market. The digital printing process is totally different from the conventional processes. It is cost-effective for shorter runs and the added advantage of its compliance with the regulatory framework and advanced consumer preference.
Based on the application, the packaging & labels segment holds the significant market share of over 45% of total revenue in 2020
The packaging and labels segment holds the largest market share and accounted for a noteworthy revenue share of 45% in 2020. The growth in the segment is attributed to the increasing disposable incomes especially in developing regions such as India, Thailand, and others. Moreover, changing consumer preference for the convenience of food packaging and online retailing with extensive internet penetration and necessity of bio-degradable products boost the segment growth.
The other applications of printing inks include commercial printing & publishing which has witness declining trend in several regions due to growing digitalization and emergence of Internet of Things (IoT). The other factors for the declining the growth of printing inks is due to the rising demand for textile prints, ceramic printing, printed electronics and folding cartons, corrugated cardboards in the packaging segment. The trends for these applications vary with region, for instance, ceramic printing is a growing market in China owing to its increased production of ceramic tiles.
Based on regions, the Asia-Pacific dominated the printing inks market and accounted for the largest revenue share of US$ XX Bn in 2020 followed By North America and Europe.
Asia-Pacific held the largest revenue share close to US$ xx Bn in 2020 across the globe. The emergence of advanced technologies and solutions in developing economies such as China, India, South Korea and 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 expansion of e-commerce industry in the region is also accelerating the growth of the printing inks market across aforementioned economies. 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 report also provides an in-depth analysis of printing inksmarket dynamics such as drivers, restraints, and opportunities
The COVID-19 has impacted various industries across the globe such as manufacturing, power, chemical, oil &gas, and others. The strict lockdown imposed by the government across the world leads to disrupt the supply chain and distribution of the product and services. The printing inks market impacted negatively in 2020 due to strict lockdown by the regulatory authority. However, in 2021, the demand for printing inks slightly increases due to opening of the market. On the other hand, the penetration in the e-commerce industry as well as the demand of hygienic products such as sanitizers, masks and others will boost the demand for printing inks market.
The report also provides in-depth analysis of key trends in Printing Inks Market
|1||The DOD (Drop on Demand) is the emerging trend in 2021||Positive|
|2||Hybrid digital printers is the key trends and adopted by the various industries because it is cost-effective, and work done in shorter time||Positive|
The report also provides in-depth analysis of recent news developments and investments
The key players operating in the market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
4. Premium Insights
5.Market Overview & Competitive Landscape
6. Market Segmentation (Market Size and Share Analysis)
Market Size by Product
Market Size by Resin
Market Size by Application
8. COVID – 19 Opportunity Mapping
9.Regional Market Analysis