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Albany, NY -- (SBWIRE) -- 04/07/2017 -- Printing inks are essentially comprised of pigments of the required color mixed with varnish or oil. Black ink, for instance, is formulated from carbon blacks and thick linseed oil. The unique perceived benefits of printing inks are their smooth flow, consistency that enables them to hold more color, and ability to dry faster. Boosting their market majorly is the robust demand from the packaging industry. Additionally, increasing demand for UV-cured inks, in which high intensity ultra-violet lights are used to dry inks, from the booming digital printing market is also contributing to the growth in the market substantially.
Some of the factors countering the growth in the global market for printing inks are the soaring popularity of e-books and strict government regulations. A recent noticeable trend in the market is the emergence and popularity of bio-based printing inks. The market is slated to be worth US$20.17 bn by 2020.
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Adoption of Modern Printing Methods
Depending upon the different types, the global market for printing inks can be classified into flexographic, gravure, lithographic, and digital, among others including letterpress printing. Of these, the segment of lithographic printing led the market with a significant 40% share in it vis-à-vis volume in 2013. In the foreseeable future, it is expected to continue dominating the market with a leading share. In the years ahead, however, the segment of digital printing is anticipated to witness maximum growth on account of the increasing uptake of modern printing methods and more and more households purchasing printing inks.
Based on the types of products, the key segments in the global market for printing inks are water-based, oil-based, and solvent-based, among others. Among them, the water-based inks segment on account of being environment-friendly, will likely outpace all other segments in terms of growth pace. Currently, oil- and solvent-based inks hold a sway over the market.
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Application-wise, the global market for printing inks can be categorized into packaging, publication and commercial printing, and others such as decorative printing. Among them, the packaging segment leads the market owing to the rising requirement of flexible packaging across various industries. In the upcoming years too, the packaging segment is anticipated to retain is dominance in the market. Printing inks find applications in tags and labels, metal cans, and flexible materials in the packaging industry.
North America Propelled by Booming Commercial Printing and Flexible Packaging Market
From a geographical standpoint, North America, Asia Pacific, Europe, and the Rest of the World
are key regions in the global market for printing inks. Volume-wise, North America leads the market. In 2013, its overall market share was 30%. The booming commercial printing and flexible packaging market is primarily fuelling the region's growth. In the foreseeable future, however, Asia Pacific powered by the growing demand for printing inks from India and China, is forecasted to clock maximum growth. The Europe market is also forecasted to tread on a healthy growth trajectory in the next couple of years.
Some of the prominent names operating in the global market for printing inks are T&K TOKA Corporation, TOYO Ink Group, Wikoff Color Corporation, Sakata INX Corporation, Royal Dutch Printing Ink Factories Van Son, Siegwerk Druckfarben AG & Co. KGaA, Huber Group, Sun Chemical Corporation, Flint Group, and ALTANA AG.