Global increase in applications in end-use industries such as packaging and lamination is expected to remain a key driving factor for gravure printing ink market over the next seven years. Within the packaging industry, tags and labels are slated to dominate gravure demand. Gravure printing ink is anticipated to be a dominant and preferred type over its counterparts owing to high & consistent graphic quality printing and higher ink coating weight to be used. It finds application in wrapping papers, magazines, food packaging, furniture laminates, postcards, wall paper, paneling and greeting cards. Increasing processed food demand leading to rising food packaging demand is anticipated to drive market growth. Its usage extends further to various niche applications such as UV light and moisture resistant based on different printing needs. UV cured inks are used for non-food products packaging such as for tobacco products. Increasing demand for water based and UV-cured printing inks owing to its compliance with environmental regulations is anticipated to drive gravure printing ink market growth over the forecast period. Also, protection from environmental exposure results in excess packaging requirement reduction for manufacturers. This is expected to positively impact the market growth over the forecast period. Gravure printing faces stiff competition with flexo printing owing to its low installation cost and thus higher profitability. However, the market is projected to witness considerable growth owing to new cylinder and press technologies have reduced lead time and cut cost making it attractive to producers.
Gravure printing involves engraving and uses a rotary printing press. It is of two types including solvent based and water based. While solvent based is swift and takes less time to dry, water based is eco-friendly and takes longer duration to dry. Oil and solvent based printing inks dominated printing inks market over the past few years while water based printing ink is expected to emerge as fastest growing segment. Raw material price volatility coupled with various environmental regulations on solvent based printing inks is expected to obstruct gravure printing ink market growth and pose challenges to industry participants over the forecast period. UV cured and water based printing inks’ mass production is slated to create attractive opportunities for industry participants over the forecast period. Technological advancements such as quick change press developed by Cerrutti and Schiavi, allowing changeovers in considerably shorter time span and ensuring high efficiency at minimized cost is expected to yield opportunities to industry participants.
Asia Pacific is projected to witness significant gravure printing ink market growth over the forecast period owing to growing lamination and food packaging industries in the region. Increasing processed and canned food demand in emerging countries such as China and India is expected to positively impact the market in the region. Increasing disposable income resulting in growing demand for interior designing with customized wallpapers is slated to drive demand and in turn market growth. Europe is anticipated to remain a key regional market owing to its acceptance in environmental friendly category and growing commercial printing demand. North America is projected to witness considerable growth in gravure printing ink market over the forecast period owing to gravure becoming competent with technological advancements.
Flint Ink has launched two new gravure laminating ink systems including sterling GL and arrowbond ultra.They are aimed at providing good bonds and low retained solvents on a wide variety of substrates & extremely low retained solvents with excellent printability respectively. Both the systems are press-friendly and are expected to be reliable performers. Sun Chemical has launched variety of new products such as RotoPure which are tin free and used in food packaging. Such strategies are expected to be adapted by companies in global gravure printing market. Companies are investing majorly in developing new products and technology which increases efficiency, are environmentally safe and incur minimal production costs. Key players operating in the market include Flint Group Italia s.r.l, SiegwerkDruckfarben AG, MITSU Inks Pvt. Ltd., CHEMICOAT, WorldtexSpeaciality Chemicals. Other industry participants include VirBandhu Industries, Technocrafts India Pvt. Ltd., Sun Chemical, Shivasakhti Printing Ink, Mac-Mixu Coating & Chemicals, Skata Inks Ltd.
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