Albany, NY -- (SBWIRE) -- 11/06/2017 -- The oil-based printing inks are expected to witness a remarkable rate of consumption in the near future due to their extensive usage in publication and commercial printing. During the period of 2016 and 2024, the oil-based printing inks segment is expected to expand at a CAGR of 5.15%. Out of the two countries, the U.S. and Canada, the former is expected to generate maximum demand for printing inks during the forecast period. The report anticipates that the U.S. printing inks market will exhibit a CAGR of 5.55% during the forecast years.

In terms of application, the North America printing inks market will be segmented into flexographic printing, gravure printing, digital printing, offset printing, specialty printing, and screen printing. The report suggests that offset printing held a dominant share of 41.2% in 2015 in the overall market, which was closely followed by flexographic printing. The growing preference for offset printing due to advantages such as high and consistent image quality that it offers. On the other hand, lithography is extensively used printing processes by several individual companies as compared to other application processes.

The North America printing inks market exhibits a moderately fragmented competition due to presence of several large number of players. Several companies are focusing on developing bio-based printing inks in order to tackle challenges pertaining to regulatory framework vying to curb the usage of toxic materials. Transparency Market Research states that the leading players in the North America printing inks market held a collective share of 65.7% in 2015. The leading players in the market are Sun Chemical Corporation, INX International Ink Co., Flint Group, Quad Graphics Inc., and Siegwerk Druckfarben AG & Co. KGaA.

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