|Fastest Growing Market:||Middle East and Africa|
|Largest Market:||Asia Pacific|
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The printing inks market was valued at USD 16,657.52 million in 2021, and the market is projected to register a CAGR of over 2% during the forecast period (2022-2027).
Due to the COVID-19 impact in 2020, various manufacturing plants were shut down, and the demand for packaging has declined. Thus, this affected the consumption of printing inks in the packaging sector. However, the food and beverage industry started recovering and has shown a positive impact. In 2021 the industry was in the recovery process, and the manufacturers overcame the many challenges that the pandemic created.
- In the short term, the major factors such as growing demand from the digital printing industry and the rising demand from the packaging and labels sector are expected to drive the market's growth.
- On the flip side, a decline in the conventional commercial printing industry and stringent regulations regarding disposal are expected to hinder the growth of the market studied. The increase in the cost of conventional printing is also hampering market growth.
- Asia-Pacific dominated the market across the world, with the largest consumption from China.
Scope of the Report
Printing inks consist of a pigment or pigments of required color mixed with oil or varnish, majorly a black ink made from carbon blacks and thick linseed oil added. The market for printing inks is segmented by process, application, and geography. By type, the market is segmented into solvent-based, water-based, oil-based, UV, UV-LED, and other types. By process, the market is segmented into lithographic printing, flexographic printing, gravure printing, digital printing, and other processes. By application, the market is segmented into packaging, commercial and publication, textiles, and other applications. The report also covers the market size and forecasts for the printing inks market in 19 countries across major regions. The report offers market size and forecasts for printing inks in revenue (USD million) for all the above segments.
|Commercial and Publication|
Key Market Trends
Increasing Demand from the Packaging Segment
- Digital printing is rapidly expanding into label production and electrophotography. The packaging industry is expected to experience a significant revolution over the next decade due to the increasing application of digital printing.
- Due to the quick turnaround capability that digital printing offers, it has been very popular among various brand owners. Recent developments in digital printing, such as digital carton cutting, creasing, and other completion technologies, have increased the potential for more applications in flexible packaging, corrugated packaging, and folding cartons.
- With the advantages of the inkjet process, such as being non-contact and low cost, this process is extensively used for printing large formats on a wide range of substrates, making it suitable for packaging. It can be integrated into existing conversion lines more efficiently than toner systems.
- With the developments in the food industry and the growing population in countries like China, India, and the United States, rigid packaging has been increasing over the past few years.
- One of the biggest drivers for flexographic printing is the flexible packaging industry. Owing to the COVID-19 pandemic, the demand for hygienic safe packaging has increased, resulting in the rise of flexographic printing.
- Hence, the demand for printing inks from the packaging industry is expected to grow at a rapid rate during the forecast period.
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China to Dominate the Asia-Pacific Market
- In Asia-Pacific, China is one of the largest economies in terms of GDP. The country registered a GDP of 5.6% in 2021. The country witnessed the slowest expansion phase in 2020 and 2021, mostly due to the pandemic.
- The country stands to be the world's largest manufacturing economy and exporter, due to which its packaging requirement is huge. The packaging industry in China produced 70.3 million metric ton of packaging paper and paperboard in 2020 and was the largest producer worldwide that year. China sees a growing trend in the use of flexible, rigid, and paper and board packaging materials. This positive momentum in the packaging industry is expected to boost the market demand for printing inks.
- Additionally, the packaging industry witnessed noticeable growth, with the increasing trend of express deliveries. China's express delivery sector grew from USD 31.3 billion in 2016 to USD 83.4 billion in 2020.
- The textile industry in China employs millions of people and contributes significantly to the country's exports and economy. Chinese apparel cloth businesses are profitable and expanding, with the export sector experiencing day-to-day growth.
- In both the domestic and global consumer markets, the Chinese garment cloth industry is progressing in many areas, including raw material quality, industrial structure, modern high-tech machinery, label development, and work process.
- China is the world's largest clothing producer and has the world's greatest textile production capacity, including cotton, synthetic fibers, and silk.
- Owing to all the above-mentioned factors, the market for printing inks in the region is projected to increase during the forecast period.
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The printing inks market is partially consolidated, with the top five players accounting for around 45% (in terms of revenues generated) of the global market share. Major players include Sun Chemicals, Flint Group, Sakata Inx Corporation, Toyo Ink SC Holdings Co. Ltd, and Siegwerk Druckfarben AG & Co.
- On January 10, 2022, Sun Chemical acquired SAPICI. Sun Chemical's integrated supply strategy in the packaging sector is strengthened by this purchase, which adds capabilities to develop and create new polymers for the company's whole array of inks, coatings, and laminating adhesives.
- On January 7, 2022, Encres DUBUIT purchased Poly-Ink. The company has combined nanomaterial scientific competence with application engineering capabilities through this acquisition. Encres DUBUIT is now a significant partner for important printed electronics applications.
- In January 2020, INX International Ink Co., a part of Sakata INX worldwide operations, acquired RUCO Druckfarben, a printing ink manufacturer in Eppstein, Germany.
- In December 2019, ALTANA acquired Overprint Varnish Specialist Schmid Rhyner AG.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Demand from the Digital Printing Industry
4.1.2 Rising Demand from the Packaging and Labels Sector
4.2.1 Decline in the Conventional Commercial Printing Industry
4.2.2 Stringent Regulations Regarding Disposal
4.2.3 Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume and Value)
5.1.6 Other Types
5.2.1 Lithographic Printing
5.2.2 Flexographic Printing
5.2.3 Gravure Printing
5.2.4 Digital Printing
5.2.5 Other Processes
22.214.171.124 Rigid Packaging
126.96.36.199.1 Paperboard Containers
188.8.131.52.2 Corrugated Boxes
184.108.40.206.3 Rigid Plastic Containers
220.127.116.11.4 Metal Cans
18.104.22.168.5 Other Rigid Packaging
22.214.171.124 Flexible Packaging
126.96.36.199 Other Packaging
5.3.2 Commercial and Publication
5.3.4 Other Applications
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.2 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Dainichiseika Color & Chemicals Mfg. Co. Ltd
6.4.4 Epple Druckfarben AG
6.4.5 Flint Group
6.4.6 FUJIFILM Corporation
6.4.7 hubergroup Deutschland GmbH
6.4.8 SAKATA INX CORPORATION
6.4.9 Sanchez SA de CV
6.4.10 SICPA HOLDING SA
6.4.11 Siegwerk Druckfarben AG & Co. KGaA
6.4.12 Sun Chemical
6.4.13 T&K TOKA Corporation
6.4.14 Tokyo Printing Ink Mfg Co. Ltd
6.4.15 Toyo Ink SC Holdings Co. Ltd
6.4.16 Wikoff Color Corporation
6.4.17 Yip's Chemical Holdings Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emergence of Bio-based and UV-curable Inks
7.2 Other Opportunities
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Frequently Asked Questions
What is the study period of this market?
The Printing Inks Market market is studied from 2017 - 2027.
What is the growth rate of Printing Inks Market?
The Printing Inks Market is growing at a CAGR of >2% over the next 5 years.
What is Printing Inks Market size in 2017?
The Printing Inks Market is valued at 16479 Million USD in 2017.
Which region has highest growth rate in Printing Inks Market?
Middle East and Africa is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Printing Inks Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Printing Inks Market?
Flint Group, Sakata Inx Corporation, Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical, Toyo Ink SC Holdings Co. Ltd are the major companies operating in Printing Inks Market.