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The global printing inks market, valued at USD 19.12 billion in 2022, is set to experience a steady revenue growth rate of 2.7% CAGR through the forecast period

VANCOUVER, BRITISH COLUMBIA, CANADA, June 6, 2024 /EINPresswire.com/ -- The global printing inks market, valued at USD 19.12 billion in 2022, is set to experience a steady revenue growth rate of 2.7% CAGR through the forecast period, driven by rising demand from the textile and ceramic tile printing industries, increasing adoption in packaging, and advancements in ink resin technologies.

The global printing inks market is predicted to grow slowly throughout the forecast period. This market has been significantly fueled by factors such as the expanding end-use industry, which comprises flexible packaging, commercial printing & publishing, and package labels. These solutions are expected to be in high demand in the future due to the superior properties of constituents such as colors, binders, solubilizers, and ingredients utilized for creating text, layout, or images, as well as increasing demand from the packaging sector, commercial printing, and evolving consumer tastes.

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The global printing inks market is consolidating in order to boost efficiency, support growth, and gain more negotiating power with suppliers and consumers. With low organic growth, market consolidation has been a long-term trend, notably in the western market.

Market Drivers

The surge in demand for printing inks is propelled by the booming textile and ceramic tile sectors. The global textile industry, valued at approximately USD 1.3 trillion, employs over 60 million individuals worldwide, significantly contributing to the high demand for printing inks. Notably, the demand for digital textile printing is projected to grow at an annual rate of 7.2% until 2023, further bolstering market growth.

Printing Inks Top Companies and Competitive Landscape

The global printing inks market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective printing inks.

Some of the major companies included in the global printing inks market report are:

DIC Corporation
Tokyo Ink SC Holdings Co. Ltd
Flint Group
Siegwek Druckfarben AG & Co. KGaS
Hubergroup
Avreon Chemicals
Altana
Mallard Ink Co. and Offset Blanket Co. Inc
Inknovators
Royal Dutch Printing Ink Factories Van Son
Sun Chemical
Zeller + Gmelin
INX International Ink Co.
Gardiner Colours Limited
Wikoff Color Corporation
T&K TOKA Corporation
Kohinoor Printing Ink Co.
FujiFilm Corporation
Printing Inks Latest Industry News

On 22 March 2023, Domestic manufacturer of printing inks, innovative packaging solutions, and related materials, DIC India Limited, part of the DIC Group, a global leader in printing inks and packaging, inaugurated Optima's toluene-free plant for manufacturing liquid inks at Saykha in Bharuch district, Gujarat. Spread over an area of 92,500 m2, the factory has a production capacity of more than 10,000 tons of TF, KF/NTNK liquid inks (toluene-free/ketone-free) in two shifts in phase I. The factory will continue to expand production of value-added products, specialized for domestic and export markets.
Additionally, the packaging industry is experiencing a notable uptick in demand for printing inks. Recent collaborations, such as the agreement between Koenig & Bauer and Hubergroup Print Solutions in July 2023, underscore the critical role of printing inks in high-speed, high-quality packaging solutions.

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Market Restraints

Despite the positive growth outlook, the market faces challenges due to the increasing shift towards digital media and a decline in the commercial printing industry. High production costs and complex manufacturing processes, requiring advanced technology and skilled labor, also pose significant barriers. These factors prompt potential buyers to seek cost-effective digital alternatives.

Segment Insights

Process Segment: Lithographic inks lead the market, driven by their high-quality output in graphics, photographs, and packaging materials. Their resistance to water and UV light, coupled with their ability to produce vibrant colors, makes them a preferred choice in various applications.
Resin Segment: Polyurethane resin dominates, owing to its suitability for 3D printing and its capacity to produce durable, high-purity inks. The recent launch of environmentally friendly water-based polyurethane resins by DIC Group highlights the industry's move towards sustainable solutions.
Product Segment: Oil-based inks hold the largest market share, favored for their vibrant, long-lasting prints, and resistance to water, abrasion, and UV radiation. These attributes make them ideal for newspapers, packaging, and labels.
Application Segment: The packaging and labels segment is expected to witness significant growth. Printing inks enhance the quality and durability of packaging materials, ensuring vibrant and consistent prints that meet the industry's evolving needs.

Printing Inks Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global printing inks market on the basis of process, resin, product, application, and region:

Process Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Gravure inks
Flexographic Inks
Lithographic Inks
Digital Inks
Others

Resin Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Modified Resin
Modified Cellulose
Acrylic
Polyrethane
Others

Product Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Solvent Based
Water Based
Oil Based
UV-Cured Based

Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Packaging and Labels
Corrugated Cardboards
Commercial Printing
Others

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However, due to the moderate growth in product pricing induced by industry competition, downward pricing pressure is likely to hinder revenue growth in the printing inks market. Furthermore, severe regulatory frameworks such as the Federal Food, Drug, and Cosmetic Act and the United States Food and Drug Administration restrict the use, manufacture, and sale of numerous inorganic solvents and hazardous metals. As a result, market expansion will most likely be stifled over the forecast period.

Apart from crude oil derivatives and inorganic pigments, which are key raw materials, the research initiative at the forefront is the creation of inexpensive and non-toxic raw materials that include graphene, carbon dioxide, and modified celluloid. This market is heavily influenced and pushed by technological and process improvements such as ink-jet devices and digital printing.

The global printing inks market is on a growth trajectory, driven by expanding applications in textiles, ceramics, and packaging. Despite challenges from digital media and production costs, advancements in resin technologies and a focus on high-quality, durable printing solutions position the market for continued success.

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