Global printing ink market was valued at over USD 16 billion in 2015. The increasing popularity of environment-friendly ink for commercial, publication and packaging printing applications is expected to drive the global market. 3D printing technology is anticipated to possess enormous potential in all key industries including healthcare and manufacturing sectors.
Key application segments for printing ink including commercial printing and packaging are foreseeing an exponential growth over the next eight years. Improved lifestyle and varied packaging techniques are expected to drive the global packaging market growth. It will have a direct impact on the printing ink market.
There is a rise in requirement towards water based and UV-cured printing inks due to higher functionality and added benefits. Applications in 3D technology, greater efficiency and increased focus on eco-friendly technology are creating a huge demand for UV-cured printing inks. They are majorly used in packaging and food & beverage industries.
Fluctuating raw material prices are posing a grave concern for manufacturers. It has become hard to estimate the variable cost of production, making it difficult to fix the maximum retail price. Various environmental regulations along with increased awareness regarding health hazards of using solvent-based ink is limiting the market growth.
Massive acceptance of E-books across the world is hampering the commercial printing applications, thus restraining the market growth to a great extent. Innovative technologies resulting in better electronic products are increasing the comfort level of customers, thus driving them to use more E-books.
Key market participants anticipate that high-quality 3D printing will dominate the global market in future thus making it a focal in research by many companies globally. 3D printing technique is evolving rapidly with new ideas that seemingly create objects of value from trash; for instance, procedures that use rust powder to form objects. These objects are lightweight, stable, as well as safer when compared to iron particles.
Research has also discovered a way to build 3D printed metallic structures that are incredibly complicated, through the use of a whole new type of printing ink. This ink works well with a broad range of print materials, including oxides and some alloys. This technology can be extremely useful and has already found application in manufacturing of batteries, medical implants, small components, and solid-oxide fuel cells.
Global printing ink market is segmented by product, process and implementation. By product, the market is classified as oil-based, water-based and solvent-based printing inks. Printing ink market by process segment is classified as digital, flexographic, gravure and lithographic printing.
Application segments of printing ink include publication & commercial printing and packaging.
Out of different processes which use printing inks, the global market is overseen by lithographic printing. The segment accounted for over 40% of the total printing ink market in 2015. At present, growth in digital distribution sector is experiencing faster growth and is expected to be a primary driver for market growth.
Regulatory pressures from various governments across the world toward using oil-based inks are supposed to trigger the demand for water-based printing inks. Packaging was most dominant application segment in 2015, and it is expected to continue its supremacy in the market over the next eight years.
North America dominated the global printing ink market in 2015 by contributing to over 30% of total market volume across the globe. Higher consumable resource and ability to meet the demand along with the economic strength of the region are accountable for this growth.
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