The global printing ink market is projected to reach an estimated value of approximately US$43 billion by 2031 at a CAGR of approximately 5% during the forecast period 2022-2031. The main key growth drivers for the global printing ink market are the expansion of the food and beverage business and the increase in book and magazine circulation.
Fine pigments, called printing inks, are made from resins, solvents, and additives and mixed with varnishes or oils. For ink manufacturers, the increasing use of printing inks for glass decoration and surface protection is profitable. Printing inks convey information, provide protection and provide a beautiful image on the substrate. Inks are also associated with the diffusion of dyes and solutions of insoluble dyes in an ink or medium.
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The market is expected to expand through greater use of strategic marketing alliances, innovative products and acquisitions by major companies to strengthen their market position and gain competitive advantage. For example, to expand its presence in Europe, INX International Inks acquired the German company RUCOINX Druckfarben in January 2020.
Players are also focusing on acquisitions and expansion of manufacturing facilities to ensure proper production of key end products and support market advancement. For example, in December 2019, in order to improve its printing technologies, ALTANA acquired Schmid Rhyner AG, a provider of postpress solutions.
The availability of alternatives to printing inks and strict environmental regulations for ink production are major barriers to the growth of the industry.
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The digital printing segment is expected to hold the largest market share by the end of 2031. Expanding applications in digital printing, label production and electrophotography are driving the growth. In addition, recent advances in digital printing, including digital cardboard cutting, creasing and other finishing techniques, are expected to accelerate the growth of this segment. For example, by 2021, it is expected that there will be about 335 million companies in the world. The growth in the number of enterprises has increased the demand for digital printing and stimulated the expansion of this segment.
The Asia-Pacific market is expected to expand significantly during the forecast period due to increased demand for paper and carton packaging for the import and export of goods, including food and other commodities. For example, China is the world’s largest producer of packaging paper and paperboard in 2020, producing almost 68 million tons. China is also the world’s leading manufacturer and exporter of textiles. In 2020, China accounted for over 40% of global textile exports.
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The Global Printing Ink Market Research Report also includes the market size, market revenue, year-on-year growth, and analysis of key market players in North America (United States and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia- Pacific region (China). , India, Japan, Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, rest of the Asia-Pacific region), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, the Netherlands and Luxembourg, Nordic countries ( Finland, Sweden), Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, rest of Europe) and the Middle East and Africa (Israel, the Gulf countries (Saudi Arabia, UAE, Bahrain, Kuwait), Qatar, Oman ), North Africa, South Africa, the Middle East and the rest of Africa).
Some of the key players in the global printing ink market are Wikoff Color Corporation, T&K TOKA Corporation, FlintGroup, Sakata Inx (India) Private Limited, hubergroup, Sun Chemical, Zeller+Gmelin, ALTANA, TOYO INK EUROPE NV, Siegwerk Druckfarben AG and KGaA Co. and etc.
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Post time: Nov-19-2022