The global printing ink market was estimated at 4,136.24 thousand metric ton, by volume, in 2017 and is likely to reach a size of USD 20,804.07 million in revenue terms by 2023, at an estimated CAGR of 3.16% and 2.96%, respectively, over the forecast period (2018-2023).
Growing Demand from the US Digital Printing Industry
With the popularity of online media, the US printing industry in the has contended with many challenges, over the past decade. Nevertheless, with the discovery of digital printing, much has changed in recent years. The textile market has been developing, and printing is gaining a foothold in this field. Customization has a bright future, from the prints and colors that the customers choose to wear, to the size and shape of the design. With the increase in customization, along with more efficient production equipment, digital printing inks are becoming mainstream. While digital printing is a relatively new concept, Epson is already working with numerous leading fashion brands, such as Adidas and Under Armour, which is undergoing a period of rapid adoption. One of the reasons for this rapid change is that the fashion industry is going through an evolution regarding how it gets products from the runway (during fashion week) to stores, and finally to the customers’ wardrobes. The market for digitally printed books is also expanding rapidly. Textbooks can be tailored to students, novels to readers, and business messages to the targeted audience. Increased activity in the textile industry, coupled with the revolution in the fashion industry and the rapid adoption of digital printing, is driving the growth of the printing ink market.
Packaging Industry Drive the Demand
The demand for printing inks is driven by the rapid growth of the packaging industry. The increasing demand for flexible packaging from the consumer goods industry and the adoption of several technological innovations in packaging have led to a significant growth of the packaging industry. The packaging industry is also rising rapidly with a significant demand from the food & beverage industry. The consumption of bottled water has been witnessing a continuous growth and is expected to rise further. Bottled water consumption accounted for about 117,084.3 million gallons in 2017. Thus, the growing packaging applications are expected to fuel the market for printing inks during the forecast period. Flexible packaging inks offer brand owners, retailers, and consumers many advantages, such as high graphic appearance. It also contributes to the performance of the package by preserving the quality of the images during manufacturing, packaging, transportation, and end use of products. With the growing population in countries, such as China and India, the requirement for food is increasing, thus resulting in an increased demand for flexible packaging in the Asia-Pacific region. Hence, the aforementioned factors are, in turn, driving the market for printing ink, during the forecast period.
Asia-Pacific Region to Dominate the Market in terms of Consumption
In 2017, the Asia-Pacific region dominated the global market share in terms of consumption. The trend is expected to continue during the forecast period during the forecast period owing to the demand from the packaging industry in the countries such as China and India. China stands to be the world’s largest manufacturing economy and exporter, due to which the country’s packaging requirement is huge. During 2017, the industrial output in the country expanded by 6.6%, thus having a positive influence on the packaging industry. Moreover, the country witnessed rapid growth in the fast-moving consumer goods (FMCG) market during 2017. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products, by the middle-class consumers, in the country. During 2017, the FMCG market witnessed 4.3% growth, i.e., 0.7% growth more than 2016. Moreover, the packaging demand from the FMCG industry also increased during the year 2017.
Notable Developments in Printing Inks Market
March 2018: InkJet, Inc., NiceLabel partnered to offer advanced labeling solutions.
August 2017: Hubergroup, INGEDE seek deinkable UV ink.
The major players include – Sun Chemical, Flint Group, SAKATA INX CORPORATION, TOYO INK SC HOLDINGS CO., LTD, Siegwerk Druckfarben AG & Co. KGaA, etc., among others.
Printing Inks Market Report Summary
Printing Inks Market
(2016 – 2023)
InkJet, Inc., NiceLabel partnered to offer advanced labeling solutions.
Asia-Pacific, North America, South America, Europe, and Middle East & Africa
ALTANA, Dainichiseika Color & Chemicals Mfg. Co. Ltd, DowDuPont, Epple Druckfarben AG, Flint Group, FUJIFILM Corporation, hubergroup Deutschland GmbH, and SAKATA INX CORPORATION, among others.
Revenue & Volume forecast, market share analysis, and market dynamics
Reasons to Purchase Printing Inks Market Report
To understand the impact of end-user applications on the market.
Analyzing various perspectives of the market with the help of Porter’s Five Force analysis.
Country that is expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Trade Analysis
4. Market Dynamics
4.1.1 Growing Demand from the US Digital Printing Industry
4.1.2 High Demand from the Packaging Sector
4.2.1 Decline in the Commercial Printing Industry
4.2.2 Stringent Regulations Regarding Disposal
4.3.1 Growth in Demand for Bio-based and UV Curable Inks
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Type
5.1.6 Other Types
5.2 By Process
5.2.1 Lithographic Printing
5.2.2 Flexographic Printing
5.2.3 Gravure Printing
5.2.4 Digital Printing
5.2.5 Other Processes
5.3 By Application
18.104.22.168 Rigid Packaging
22.214.171.124.1 Paperboard Container
126.96.36.199.2 Corrugated Box
188.8.131.52.3 Rigid Plastic Container
184.108.40.206.4 Metal Can
220.127.116.11.5 Other Rigid Packaging
18.104.22.168 Flexible Packaging
22.214.171.124 Other Packagings
5.3.2 Commercial and Publication
5.3.4 Other Applications
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Australia & New Zealand
6.1.6 ASEAN Countries
6.1.7 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.7 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.2 Dainichiseika Color & Chemicals Mfg. Co. Ltd
8.4 Epple Druckfarben AG
8.5 Flint Group
8.6 FUJIFILM Corporation
8.7 hubergroup Deutschland GmbH
8.8 SAKATA INX CORPORATION
8.9 Sanchez, SA de CV
8.10 SICPA HOLDING SA
8.11 Siegwerk Druckfarben AG & Co. KGaA
8.12 Sun Chemical
8.13 T&K TOKA Corporation
8.14 TOKYO PRINTING INK MFG CO.LTD
8.15 TOYO INK SC HOLDINGS CO. LTD
8.16 Wikoff Color Corporation
8.17 Yip's Chemical Holdings Limited
*List not exhaustive