|Study Period:||2016 - 2026|
|Fastest Growing Market:||Middle East and Africa|
|Largest Market:||Asia Pacific|
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The printing inks market was valued at USD 16,757.32 million in 2020, and the market is projected to register a CAGR of over 2% during the forecast period (2021-2026).
Due to the COVID-19 impact in the first half of 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 in the second half of 2020, which has shown a positive impact.
- In the short term, the major factors such as growing demand from the digital printing industry and rising demand from the packaging and labels sector are expected to drive the market 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.
- Asia-Pacific dominated the market across the world, with the largest consumption from China.
Scope of the Report
Printing inks consist of 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. For each segment, the market sizing and forecasts have been done on the basis of volume (kiloton) and value (USD million).
|Commercial and Publication|
Key Market Trends
Increasing Demand from Packaging
- Digital printing is rapidly expanding into label production and electrophotography. The packaging industry is expected to experience a significant revolution over the next decade, owing 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, and can be integrated into existing conversion lines more efficiently than toner systems.
- With the developments in the food industry and growing population in countries, like China, India, and the United States, among others, the use of rigid packaging has been increasing over the past few years.
- According to a report published by PMMI, ‘The Association for Packaging and Processing Technologies’, 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, among others.
- 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 the largest economy in terms of GDP. The country witnessed about 1.9% growth in its GDP during 2020, even after the trade disturbance caused due to its trade war with the United States and the COVID-19 impact in 2020.
- 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 is expected to have tremendous growth, with a CAGR of nearly 6.8% to reach CNY 2 trillion during the forecast period. 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 ignite the market demand for printing inks.
- Additionally, the packaging industry witnessed noticeable growth, with the increasing trend of express deliveries. In 2019, the express delivery companies delivered around 63 billion parcels in the country, which reflected a 23% increase over the previous year.
- China is the largest textile producing and exporting country in the world. With its rapid growth over the last two decades, the Chinese textile industry has become one of the main pillars of the country’s economy and contributes ~7% to the country’s GDP. Low cost of production, high availability of labor, reduced commercial barriers, and material supply availability are a few of the competitive advantages that the country offer for the clothing manufacturing industry.
- China is the largest clothing producer in the world and has the largest production capacity for textile products, consisting of cotton, manmade 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 a partially consolidated market, 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., among others.
- 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.
- In June 2018, Siegwerk acquired Ultra Inks, a Québec ink company, to expands its business in Canada.
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
184.108.40.206 Rigid Packaging
220.127.116.11.1 Paperboard Containers
18.104.22.168.2 Corrugated Boxes
22.214.171.124.3 Rigid Plastic Containers
126.96.36.199.4 Metal Cans
188.8.131.52.5 Other Rigid Packaging
184.108.40.206 Flexible Packaging
220.127.116.11 Other Packaging
5.3.2 Commercial and Publication
5.3.4 Other Applications
18.104.22.168 South Korea
22.214.171.124 Australia & New Zealand
126.96.36.199 ASEAN Countries
188.8.131.52 Rest of Asia-Pacific
5.4.2 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.4.4 South America
126.96.36.199 Rest of South America
5.4.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and 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 2016 - 2026.
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 2016?
The Printing Inks Market is valued at 16757 Million USD in 2016.
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 2020.
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.