Printing Inks Market Report

Printing Inks Market Analysis By Product (Gravure, Flexographic, Lithographic & Digital) By Resin Type (Modified rosin, Modified cellulose, Acrylic & Polyurethane), By Application, And Segment Forecasts, 2014 - 2025

Published: September 2017  |  113 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-606-6

Industry Insights

The global printing inks market size was valued at USD 16.46 billion in 2016. The market is driven by demand from applications and consumer-specific formulations. Applications such as commercial printing, publications, packaging, corrugated cardboards and others coupled withthe consumer specific need such as eco-friendly solutions have led to burgeoning global demand for inks.

The superior properties of the constituents such as pigments, binders, solubilizers, and additives to produce text, design or images along with rising demand from packaging sector, commercial printing, and changing consumer preference, these solutions are expected to have unceasing demand in the future.

U.S. printing inks market revenue by product, 2014 - 2025 (USD Million)

U.S. printing inks market

Packaging and publishing/commercial printing are two major application segments of this market. The types of inks are generally categorized on the basis of their manufacturing process which includes gravure/rotogravure, lithography, and flexography digital outputs. The other processes, generally conventional account for a smaller portion of revenue generated annually.

Rising concerns regarding emission of volatile organic compound (VOC) and toxic metals present in some inks of printing solutions have compelled government agencies to shift towards bio-friendly alternatives and has resulted in a stringent regulatory framework for manufacturers.

Apart from crude oil derivative and inorganic pigments, which are major raw materials, development of economical and non-toxic raw materials such as graphene, carbon and modified celluloid are the research initiatives on the forefront.  This market is strongly affected and driven by advancements in technology and processes such as ink-jet products and digital printing.

Product Insights

The three most widely used manufacturing process include flexography, rotogravure, and lithography/offset, accounting for a major share in the industry. The lithography process holds the major share of approximately 28%, owing to its characteristic of superior image quality for smooth and practical surfaces at relatively low costs. Gravure is a high cost and high-speed process and is largely used as it reproduces very fine details.

An emerging trend in ink product involves digital and electrostatic printing (nonimpact imaging processes). Digital process is the fastest growing product segment of this market. The competitive space of digital printing solutions is appreciably different from traditional processes and is cost-effective for shorter runs along with the added advantage of its compliance with the regulatory framework and advanced consumer preference.

The growing packaging industry including corrugated cardboards & folding cartons is another factor that has strongly attributed to increased usage of rotogravure, flexographic and digital solutions. The use of flexographic toners for flexible packaging, digital solutions for textile and ceramic printing, conductive inks for printed electronics and UV curing inks for bio-degradable alternatives constitute the major product insights for this industry.

Resin insights

Polyurethane is the fastest growing resin segment and is expected to account for over 16% of the resin revenue in 2025. The composition of the resins is a significant factor for the type of ink produced. Hydrocarbons & modified rosins are used for producing lithographic solvents, polyamides & polyurethanes are used for manufacturing gravure and solvent based-flexographic products. By resin type, acrylic is the predominantly used raw material for manufacturing solutions owing to its faster drying properties, availability and cost-effective nature.

The other factors contributing to polyurethane’s faster growth for manufacturing printing solvents include its high tensile and tear strength, bonding potential with types of substrates, corrosion resistance, and hardness flexibility. Its increased usage in flexible packaging segment and energy curing solution is another factor for its faster growth rate.

Application Insights

Packaging & labels is the largest and fastest ink application segment, which accounts for over 45% of the total segment revenue. The growth of this application has witnessed a flourishing trend in the last five years owing to growing middle-class population in the emerging nations such as India and Thailand, change in consumer preference for the convenience of food packaging & online retailing with extensive internet penetration and requirement of bio-degradable products.

Global printing inks revenue share, by application, 2016 (%)

Global printing inks market

The other applications of inks include commercial printing & publishing which has witnessed a declining trend in many regions due to growing digitalization and Internet of Things (IoT). The other significant reason for the decline could be the growth in demand for textile prints, ceramic printing, printed electronics and folding cartons, corrugated cardboards in packaging segment. The trends for these applications vary with region, for instance, ceramic printing is a growing market in China owing to its increased production of ceramic tiles. Moreover, printed electronics has substantial growth opportunities in Thailand due to its growing electronics industry.

Regional Insights

Asia Pacific was the leading global market and accounted for over USD 5.40 billion of the total revenue in 2016. The major contributors include China and Japan which constitute of numerous major industry players and a growing ink market. Technological printing ink advancements and growth of end-use applications in China also contribute to this trend. Packaging segment, ceramic and textile printing are among the major growing applications in China.

India, Thailand, Vietnam, and Indonesia are the other emerging APAC nations to have witnessed thriving growth in the industry. North America is the second largest regional market with U.S. as the major contributor due to flourishing packaging industry and easy resin availability.

Competitive Insights

Major market players include Flint Group, DIC Corporation, Siegwerk Druckfarben AG & Co. KGaA, Sakata Inx Corporation, Wikoff Color Corporation and Sun Chemicals. The global ink industry is extremely competitive owing to the presence of vertically integrated key players with technologically advanced solutions & equipment and procurement & distribution channels.

The industry has witnessed a strong consolidation period in different regions which include, expansions, mergers and acquisitions, making the industry highly competitive. Some expansion strategies include Epple Druckfarben Italia S.r.I in Milan, Italy, subsidiary of Epple Druckfarben for superior quality German offset printing inks in Italy and Kansas, U.S. plant which was an expansion strategy of Sakata Inx Corporation.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America (U.S., Canada, Mexico), Europe (Germany, Italy, UK), Asia Pacific (China, Japan, India), CSA (Brazil), MEA

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global printing inks market on the basis of product, resin, application, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Gravure

    • Flexographic

    • Lithographic

    • Digital

    • Others

  •  Resin Outlook (Revenue, USD Million, 2014 - 2025)

    • Modified rosin

    • Modified cellulose

    • Acrylic

    • Polyurethane

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Packaging & labels

    • Corrugated cardboards

    • Publication & Commercial Printing

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Italy

      • UK

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America (CSA)

      • Brazil

    • Middle East & Africa

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