Albany, NY -- (SBWIRE) -- 10/04/2018 -- The global printing ink market is teeming with a variety of players having a range of contribution to the value chain. Competition is stiff among them and in order to surge ahead of rivals, players are seen integrating vertically through mergers, acquisitions, and collaborations to gain more control over the entire production process. This enables them to gain easy access to technologically improved solutions, equipment procurement, and distribution channels.
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At the forefront of driving demand in the global printing ink market is the ever-soaring demand from the packaging industry. Further, demand from UV-cured inks from the fast-expanding digital printing market is also having a positive impact on the global printing ink market. Nevertheless, major headwinds are being posed by the rising uptake of e-books and online editions of newspapers. A noticeable trend in the global printing ink market is the shift towards water-based ink segments owing to its environmental friendly nature. Currently, oil- and solvent-based inks hold a sway over the market.
Market Growth Stoked By Uptake of Letterpress Printing
The different types of products available in the global printing inks market can be broadly classified into gravure, flexographic, digital, and lithographic. There are others too such as letterpress printing. At present, lithographic printing accounts for maximum share in the market. In the near future too it is predicted to account for a leading market share. However, with respect to growth, digital printing is predicted to surpass all others because of the perceptible shift towards modern printing methods.
Different application areas are serving to generate sales in the global printing inks market. Those include publication, packaging, and commercial printing. Decorative printing is another application area.
Currently, most of the demand is created by the segment of packaging because of the unprecedented proliferation of the ecommerce sector and skyrocketing consumerism. In the next couple of years too, the packaging segment will likely register most of the demand. Printing inks are used in tags and labels, flexible materials, and metal cans – all of which are used in packing a range of products.
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Europe and North America Market Catapulted to Fore by Surging Demand for Flexible Packaging
Geographically, North America and Europe hold majority of the share in the global printing inks market. The regions' growth have been mainly facilitated by the proliferating flexible packaging and commercial printing market. Easy availability of resins has also contributed to market growth in the region. In the near term, Asia Pacific printing ink market is predicted to spell maximum opportunity. This is mainly on account of the rising demand from China and India, economic superpowers in the region. The expansion in manufacturing of goods, trade and commerce, and demand for international shipping of non-consumer goods in the region have fuelled the market. Paperboard packaging has become important in the packaging sector due to its sturdy nature, and the global printing inks market has benefited immensely from the consistent demand for printing on packaging equipment.