The market value of the printing inks industry was at USD 19.6 billion in the year 2021 and it is expected to surpass the market value of over USD 23.8 billion by the year 2028 while registering a CAGR of 2.8% during the forecast period.
Printing Inks Market Overview
The printing inks are the specialized inks used on the packaging materials. The primary consumers of the printing inks industry are the packaging industry and the publishing industry. The growing urbanization and industrialization had augmented the growth of educational institutions and thereby increased the demand for educational books and magazines. Moreover, the rapid growth of e-marketing has promoted business online and increased the sales of several commodities. Such factors have augmented the demand for packaging and thereby impacted the growth of the printing inks industry as well.
COVID 19 Analysis:
The pandemic has created distress across the world economically and the industrial processes and operations were reduced. The change in the attitude of the consumers and the decline in the demand of certain industries like consumer electronics, automotive have also reduced. On the other hand, Food and beverage industry has increased during the pandemic. Additionally, the packaging industry also gained momentum during the pandemic, as the retail shops were not accessible. Therefore the consumption of printing inks has significantly increased due to the increasing demand for the packaging industry. Also, the medical sector was rapidly growing during the pandemic due to the increasing emergencies across the world. The medical equipment, products, blood samples were labeled and segregated, and organized in those medical sectors. Such factors have also fuelled the overall growth of the printing inks industry during the pandemic.
With the convenience and the varied offers across online shopping and easier return and exchange options, the trend of e-commerce is increasingly gaining momentum across developing countries. The marketing strategies and the growth of e-marketing have gained huge consumers and possess strategies to retain them as well. Such factors are considered as the major drivers of printing inks market growth.
The presence of varied types of printing inks in the industry based on the substrates used is propelling the manufacturers to adopt the suitable one for their application. The solvent-based and the water-based is used for different applications. Also, there are several advancements in printing technology which is capable of producing quality printing. Such factors are considered as the primary drivers of printing inks market growth.
The presence of established delivery partners and the express delivery systems with affordable rates across the developed countries and the advancement in the packaging technologies across the globe are presenting lucrative opportunities for the overall growth of the printing inks industry during the forecast period.
The demand for ceramic printing and electronic printing across the developed countries is presenting lucrative opportunities for the printing inks industry during the forecast period. The ceramic tiles are increasingly gaining momentum with the growing construction industry. Additionally, the demand for consumer electronics is also growing and the production rate is also increasing at the manufacturing facilities. Such factors are expected to bolster the overall growth of the printing inks industry during the forecast period.
The down pricing pressure that exists across the industry and the availability of the lower revenue and the other pricing issues are considered as the major restraints of printing inks market growth.
The changing economic condition and the stringent regulations regarding the disposal of the printing inks and the residues are expected to hamper the printing inks market growth. The countries are also constantly updating their regulations with various perspectives.
The penetration of the internet and the news channels available online have reduced the demand for newspapers and magazines, which were considered as the primary consumer of the printing inks industry. However, the decline of these industries has significantly affected the overall growth of the printing inks industry.
The utilization of toxic metals and inorganic solvents in the food industry is restricted with stringent regulations imposed by the organizations like Federal Food, Drug and cosmetic act, and U.S food and drug administration. This factor is considered as the major challenge for the printing inks industry across the food industry.
Cumulative growth analysis:
The market value of the printing inks industry was at USD 19.6 billion in the year 2021 and it is expected to surpass the market value of over USD 23.8 billion by the year 2028 while registering a CAGR of 2.8% during the forecast period. The advancements in the printing inks and the varied types such as lithographic techniques, flexographic inks, and other advancements in the industry are presenting favorable conditions for the overall growth of the printing inks industry during the forecast period. The manufacturers are utilizing the flexographic inks as they can be used upon varied substrates such as films, papers, plastics, corrugated boxes, and others. The advent of printing inks which are capable of providing higher printing quality and the eco-friendly nature of the inks and the affordability are some of the growth-stimulating factors for the printing inks industry.
With the decline of the newspapers and the magazine industry, due to the emergence of social media and penetration of the internet, advertising revenues have been reduced significantly. This changing preference has also affected the printing inks market growth.
Value chain analysis:
The growth of the e-commerce sector and the established market players with the aid of advanced technologies has adopted strategies to promote the printing inks market growth. The varied types of printing inks include UV, UV-LED, solvent-based, water-based, and significant others. The varied types are used for varied substrates and used in varied applications. Therefore the overall growth of printing inks is expected to grow with a healthy CAGR. Although the packaging industry is considered the primary consumer of printing inks, the publishing industry is also consuming the printing inks significantly. With the growing demand for books, a growing number of writers with the help of social media influencers are gaining large consumer background. Such factors are considered as the key driving factors for printing ink's market growth.
The growing economies of the countries like India, China, and Vietnam and the increasing urbanization across the globe are stimulating the educational institutes and the publishing industry is rapidly growing due to these factors. Therefore the printing inks industry is expected to witness a healthy growth rate during the forecast period.
Based on Type:
Based on Process:
Based on Printing Process:
Based on Resin:
Based on Application:
The Global Printing inks market share by Application
Source: MRFR analysis
The Asia-pacific region has been dominating the printing inks market share since the year 2021 and growth with a CAGR of 5.6%. although the region had been witnessing a slower expansion phase in recent times due to COVID 19, countries like China are projecting their exports and showcasing higher demand for the packaging industry. A recent study shows that the country had produced over 70.3 million metric tons of packaging paper in the year 2020 and is considered as the largest manufacturing hub of packaging materials in the year 2020. Moreover, customers across the country demand flexible packaging and demand convenience and functionality. Therefore the country is more inclined towards producing flexible packaging as well. Other factors such as established home delivery and faster deliveries across Asia-pacific regions are also impacting the overall growth of the printing inks industry across Asia-pacific regions.
The textile industry in China contains millions of laborers and the favorable conditions and the trading strategies have propelled the packaging industry forward across the country. Therefore the express delivery sector had surpassed the market value of USD 83.4 billion in the year 2020.
In the year 2022, one of the leading market players, Sun chemicals had joined hands with a leading packaging company named SAPI. This acquisition had strengthened the capacity of both companies and had paved the way for the introduction of several types of inks, coatings, and laminating adhesives used in the packaging industry.
In the year 2022, one of the leading market players, Encres DUBUIT had acquired with another leading market player, Poly-ink. This acquisition had paved the way for novel engineering capabilities and presented novel products in the printed electronics stream.
This report has covered:
Based on Type:
Based on Process:
Based on Printing Process:
Based on Resin:
Based on Application:
|Market Size||2028: USD 23.8 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Process, Resin, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Flint Group (Luxembourg), DIC Corporation (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Sakata Inx Corporation (Japan), Toyo Ink S.C. Holdings (Japan), T&K Toka (Japan), Wikoff Color Corporation (U.S.), Sun Chemicals (U.S.), Royal Dutch Printing Ink Factories Van Son (Netherland), Zeller+Gmelin GmbH & Co. KG (Germany)|
|Key Market Opportunities||The growing packaging industry in the developing regions is also expected to significantly contribute to the growth|
|Key Market Drivers||The growing demand for packaging and commercial printing is expected to have a positive impact|
• Solvent-based • Water-based • Oil-based • UV • UV-LED • Other Types
• Lithographic Printing • Flexographic Printing • Gravure Printing • Digital Printing • Other Processes
• Modified Rosin • Modified Cellulose • Acrylic • Polyurethane • Others
North America and Asia Pacific are both likely to be important for the global graphite market over the forecast period.
• Packaging and labels • Corrugated cardboards • Commercial Printing • Others