Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Printing Inks Market.
Market Research Future (MRFR), in their latest report on the global printing inks market, revealed that the product potential can help it achieve remarkable CAGR during the forecast period (2023-2032). Printing inks are liquids or paste that are used often in coloring surfaces of books, magazines, newspapers, ceramic tiles, cardboard. These inks are made of dyes and pigments and upon mixing with oil or solvents, they form a paste which is then used to mark things. Its extensive use is in packaging and commercial printing. MRFR in their latest report based their research primarily on the segments with value-wise and volume-wise data. In addition, they made an extensive research on the competitors to provide a holistic picture of the market.
Major factors triggering the market growth are packaging industry and commercial printing. The packaging industry is growing with great gusto as it is enjoying the benefits of logistical supports and growth in the e-commerce segment. Consumer taste has spurred a growth in varieties and labelling of products which is also ensuring substantial increase in the sale of the printing ink market. But the presence of toxic materials can deter the market and steer it towards innovation.
MRFR, in their article on the global printing inks market, segmented the study by process, resin type, and application.
Based on the process, the printing inks market can be segmented into gravure, flexographic, lithographic, digital, and others. The lithographic segment has the maximum share and it is also expected to maintain its supremacy in the coming years. It is getting mileage owing to the quality of the end result and low cost. However, the digital segment is expected to grow with the grow with the fastest CAGR during the forecast period.
Based on the resin type, the printing inks market is segmented into modified rosin, hydrocarbon, modified cellulose, acrylics, polyamide, polyurethane, and others. The polyurethane segment is expected to grow the fastest in the coming years. Features such as tensile strength, enhanced bonding potential, corrosion resistance, and flexibility are helping the segment cementing its foothold.
Application-wise the printing inks market includes publication & commercial printing, corrugated cardboards, packaging & labels, and others. The packaging & labels segment previously held over 40% of the market share.
MRFR, in their region-specific analysis of the printing inks market, includes, namely, Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA).
The APAC region held the maximum market share and is expected to reign in the coming years as well. The market has huge potential in the region. The vast population is driving the packaging industry ahead which is directly impacting the intake of printing inks. Increasing disposable income is allowing a rise in consumption of commodities that require both packaging and printing. It has also triggered a sale in the on-the-go or ready-to-eat food products. This has influenced the market in increasing the production of labels and tags.
The presence of several globally leading end-user industries in the North American region can ensure the prospect of the printing ink market in the coming years. The fast-paced lifestyle has given rise to the intake of ready-to-eat foods and e-commerce segment triggering a massive growth in the packaging industry. At the same time, FDA’s regulation to clearly state all on product label is ensuring more market proliferation of printing inks.
Prominent players, as per the MRFR report, influencing the global printing inks market are Siegwerk Druckfarben AG & Co. KGaA (Germany), DIC Corporation (Japan), Sakata Inx Corporation (Japan), T&K Toka (Japan), Toyo Ink S.C. Holdings (Japan), Flint Group (Luxembourg), Wikoff Color Corporation (U.S.), Royal Dutch Printing Ink Factories Van Son (Netherland), Sun Chemicals (U.S.), Zeller+Gmelin GmbH & Co. KG (Germany), and others.
In 2018, Sun Chemical and DIC acquired Luminescence Holdings Ltd., a security ink company that specializes in manufacturing currency, ID cards, secure documents, tax stamp, passports, and brand protection inks for the security market.
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