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The printing inks market size is estimated to grow by USD 2.85 billion at a CAGR of 2.69% between 2022 and 2027. The growing economies of emerging markets are also significant, as they drive increased consumption and, consequently, demand for printed materials. Additionally, the shift towards waterborne printing inks, driven by environmental concerns and regulations, is influencing market growth, as these inks are seen as more eco-friendly alternatives to traditional solvent-based inks. The market's growth is further propelled by technological advancements, such as the development of UV-curable and LED-curable inks, which offer faster curing times and reduced environmental impact compared to traditional inks. Additionally, the increasing focus on sustainable packaging solutions is driving the adoption of eco-friendly printing inks, further boosting market growth.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This market report extensively covers market segmentation by type (lithographic inks, gravure inks, flexographic inks, digital inks, and others), end-user (packaging and labeling, publication and commercial printing, corrugated cardboards, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The lithographic inks segment is estimated to witness significant growth during the forecast period. The market includes a sizable section for the lithographic inks segment. Lithography printing is a popular technique for high-quality printing used in various applications such as packaging, commercial printing, publishing printing, and others. It requires special inks, known as lithographic inks, which are often made by combining pigments, resins, solvents, and additives to ensure proper adherence to the printing surface.
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The lithographic inks segment was the largest segment and was valued at USD 7.10 billion in 2017. The demand for lithographic inks is influenced by the commercial printing industry, which produces promotional materials, advertisements, and other related items. The Asia Pacific region is currently experiencing significant growth in this sector due to rapid industrialization, urbanization, and increased consumer spending in nations like China and India. The lithographic inks segment is the dominant player in the market. The growth of industries such as packaging and commercial printing, which produce high-quality prints suitable for various applications, will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. The North American region dominated the market in 2022. This was due to the increasing demand for packaging in the food and beverage as well as personal care sectors. The growing trend of retail e-commerce sales in North America is also contributing to the increased demand for packaging. As a result, the demand is expected to rise in the region during the forecast period.
Moreover, the US and Canada are the leading contributors to North American retail e-commerce sales in 2022, accounting for over 60% of the market share. The US market is also witnessing a surge in the demand for flexible packaging, which includes bags, overwraps, and pouches made from high-quality papers, plastics, aluminum foils, and plastic films. Such factors are expected to drive the regional market during the forecast period.
The market is crucial for industries like commercial printing & publishing and packaging labels. Key components include pigments, binders, and solubilizers, along with various additives for specific properties. While the market faces challenges such as downward pricing pressure in the Western market and concerns over toxic metals in inorganic solvents, it continues to innovate. Technologies like energy-curing inks, including UV-cured inks, are gaining traction, especially in the food sector for case-ready packaging. The shift towards digitalization and the demand for sustainable practices are also influencing the market's direction. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand from emerging economies is notably driving market growth. Significant growth in the market is expected in emerging countries such as India, China, Mexico, Brazil, Cambodia, Indonesia, and the Philippines. This growth can be attributed to the improvement in the standard of living, economic development, and industrialization in these countries. As a result of the high gross domestic product (GDP) and an increase in manufacturing activities, the Printing ink market is expected to rise in these emerging economies. This growth is likely due to the Western market facing downward pricing pressure and the shift towards waterborne printing inks due to concerns over inorganic solvents." The manufacturing growth in India and China as well as the increasing demand for consumer goods and sophisticated packaging in emerging markets will also drive the consumption in various applications.
Moreover, the growing middle-class population and increasing purchasing power parity in developing countries are expected to drive the demand for food and beverages and pharmaceutical products, leading to higher investments in the market, which ultimately will drive the market during the forecast period.
Rising demand for bio-based printing inks is an emerging trend shaping the market. Many major printing ink manufacturers are now opting for bio-based products due to the increasing demand for eco-friendly products from end-users in packaging, publishing, and printing paper. To comply with stringent government regulations on the use of solvent-borne vendors are focusing on manufacturing bio-based products. The use of bio-based products in several applications, such as packaging and domestic goods, has encouraged manufacturers to reduce their dependence on petroleum-based plastic products.
Consequently, printing ink manufacturers are now using eco-friendly products that are biodegradable and reduce VOC emissions. The preference for bio-based products is increasing globally, and this trend is expected to boost the growth of the market during the forecast period.
Stringent VOC regulations are a significant challenge hindering market growth. The environment is facing a major challenge due to Volatile Organic Compounds (VOC). These are chemicals that vaporize at room temperature and cause air pollution at ground level. Countries like the US have strict regulations on the use of products that contain harmful VOCs. The US Environmental Protection Agency (EPA) has mandated that solvents should be VOC-free in printing inks. This new requirement has forced key vendors in the market to install new dispensers that can handle no-VOC colorants for printing inks.
In addition, the European Commission (EC) has implemented regulatory guidance on the use of pigments, resins, dyes, solvents, and others. According to the EC, only VOC-free can be used for printing on paper and other products. Such regulations on the use of VOCs will have a negative impact on the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Altana AG - The company offers cubic ink which is designed with low viscosity, thus used for commercial and industrial printing applications.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by a variety of factors, including the demand for crude oil derivatives used in manufacturing, particularly in the production of inorganic pigments and graphene-based inks. These inks are crucial for various applications, from newspapers and magazines to packaging materials for the snacks & confectionery category. With the rise of digitalized needs and increased demand for sustainable solutions, there's a growing interest in modified celluloid and UV LED inks, offering high performance and environmental benefits. The market's growth is also fueled by advancements in production technologies and packaging practices, catering to the evolving needs of the food & beverage industry and online retailing.
The market is influenced by a range of factors, including the use of crude oil derivatives in ink production and the integration of innovative materials like graphene and carbon. These materials contribute to the development of advanced ink-jet products used in various applications such as publications and journals. Consumer demands and the growth of the packaging industry drive the market, leading to the development of inks with enhanced properties like bonding qualities and reduced drying time to boost productivity and lower energy costs. Additionally, the market sees advancements in environmentally friendly formulations, including latex (resin) inks, solvent-UV hybrid inks, and solid inks, meeting the needs of a global population increasingly interested in bio-degradable products.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.69% |
Market growth 2023-2027 |
USD 2.85 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.1 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 45% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altana AG, Dainichiseika Color and Chemicals Mfg. Co. Ltd., DEERS i Co. Ltd., DIC Corp., Dow Chemical Co., Encres DUBUIT, Epple Druckfarben AG, Flint Group, FUJIFILM Corp., MHM Holding GmbH, SICPA HOLDING SA, Sun Chemical Corp., Tokyo Printing Ink Mfg Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Vibrantz Technologies, Zeller and Gmelin GmbH and Co. KG., Bordeaux Digital PrintInk Ltd., Sakata Inx India Pvt Ltd., Siegwerk Druckfarben AG and Co. KGaA, and T and K TOKA Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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