Albany, NY -- (SBWIRE) -- 11/17/2017 -- The global printing inks market is dominated by companies such as TOYO Ink Group, Royal Dutch Printing Ink Factories Van Son, Sakata INX Corporation, Flint Group, Wikoff Color Corporation, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Corporation, Sun Chemical Corporation, and Huber Group. The high number of players in the global printing inks market is likely to remain a feature of the market in the coming years, as the diverse presence of the printing inks market has enabled a number of revenue generation avenues.
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The global printing inks market is expected to be valued at more than US$20 bn by 2020.
Rising Demand for Digital Printing Offset by Growing Packaging Sector
One of the prime drivers for the global printing inks market is the rising demand from the packaging sector. The packaging sector has attained unprecedented importance in recent years due to the steady growth of ecommerce and rising demand for international shipping of non-consumer goods. 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. Rapid globalization has also resulted in growing demand from the global printing inks market and is likely to remain a key driver for the market in the coming years.
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On the other hand, the printing inks market is restrained by the decline of the publishing industry in recent years, as digital publishing has become more popular due to its greater convenience to users. This has led to a reduction in the demand for printing inks from the publishing industry and is likely to hinder the printing inks market's growth in the coming years. The rising number of newspapers focusing on digital subscriptions in addition to or even in place of conventional paper printing is a key factor in this and could damage the printing inks market significantly in the coming years.
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Water-based Inks Likely to Exhibit Rapid Growth in Demand
By product type, the global printing inks market is segmented into water-based, oil-based, and solvent-based printing inks. Of these, oil-based and solvent-based printing inks hold the dominant share in the global printing inks market at present due to their widespread use and compatibility with the current technological framework. However, the use of oil- and solvent-based printing inks has come under the scanner in many regions due to their adverse environmental impact, leading to a promising opportunity for the water-based inks segment. The water-based inks segment is thus likely to exhibit steady growth in the global printing inks market in the coming years, aided by growing research in making water-based inks suitable for diverse purposes.
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Geographically, North America is the leading contributor to the global printing inks market. The steady presence of the commercial printing industry as well as the flexible packaging industry in North America is a key driver for the printing inks market in the region. The growing demand for international shipping from North American companies is likely to remain an important driver for the printing inks market. The firm establishment of the ecommerce sector has also enabled steady demand from the printing inks market in North America. The rapid urbanization in Asia Pacific is likely to drive the shipping industry in the region in the coming years, leading to steady growth of the printing inks market.