Printing inks are used in a wide range of applications owing to high tensile strength, bonding potential and tear resisting properties. The rising demand for packaging & labels in various industries across the globe is substantially affecting the growth of the printing inks market. The global printing inks market has been driven by a range of application such as labels and packaging, corrugated cardboards, commercial printings, and publications among others. Moreover, it is estimated that the packaging and labels application sector is set to witness the highest growth due to the growing application of printing inks in both secondary and primary labels, which are extensively used in the packaging industry.
The global printing inks market is segmented into process, resin type, and application. On the basis of the process, the market is segregated into gravure, flexographic, lithographic, digital, and others. The market by resin type is bifurcated into modified rosin, hydrocarbon, modified cellulose, acrylics, polyamide, polyurethane, and others. The market by application is further bifurcated into packaging and labels, corrugated cardboards, publication & commercial printing, and others.
The lithography printing inks process segment is anticipated to observe a higher CAGR during the forecast period. The enhanced and superior qualities of these printing inks such as image quality and low cost among others find its application in wide range of materials. Moreover, the growing demand for food & beverage and the automotive industry is also significantly adding to the growth of the segment. The global Printing Inks Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as food and beverage, personal care, home care, and automotive among others, which, in turn, is anticipated to fuel the demand for printing inks in the region. Moreover, the growing processed food demand mainly in Japan, India, and China owing to the growing working population and changing lifestyle is also expected to contribute to the market. The European region is estimated to witness a significant growth in the countries owing to burgeoning personal care, pharmaceutical industry, and packaging.
The increasing demand for printing inks from well-developed automobile industry is driving the market to a positive growth. The North American printing inks market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing use of processed food and beverages among others is fuelling the growth of the printing inks market in this region. Furthermore, the developed packaging industry coupled with increasing export of food and other consumer goods from the region has augmented the use of printing inks in barcodes and product informative labels which is also contributing to the market growth.
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Some of the prominent players operating in the global printing inks market are Flint Group (Luxembourg), DIC Corporation (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Sakata Inx Corporation (Japan), Toyo Ink S.C. Holdings (Japan), T&K Toka (Japan), Wikoff Color Corporation (U.S.), Sun Chemicals (U.S.), Royal Dutch Printing Ink Factories Van Son (Netherland), and Zeller+Gmelin GmbH & Co. KG (Germany) among others.
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