Global Printing Ink Market: Snapshot
The global printing ink market is teeming with a variety of players having a range of contribution to the value chain. Competition is stiff among them and in order to surge ahead of rivals, players are seen integrating vertically through mergers, acquisitions, and collaborations to gain more control over the entire production process. This enables them to gain easy access to technologically improved solutions, equipment procurement, and distribution channels.
At the forefront of driving demand in the global printing ink market is the ever-soaring demand from the packaging industry. Further, demand from UV-cured inks from the fast-expanding digital printing market is also having a positive impact on the global printing ink market. Nevertheless, major headwinds are being posed by the rising uptake of e-books and online editions of newspapers. A noticeable trend in the global printing ink market is the shift towards water-based ink segments owing to its environmental friendly nature. Currently, oil- and solvent-based inks hold a sway over the market. By 2020, the global printing inks market is predicted to reach a valuation of US$20 bn.
Market Growth Stoked By Uptake of Letterpress Printing
The different types of products available in the global printing inks market can be broadly classified into gravure, flexographic, digital, and lithographic. There are others too such as letterpress printing. At present, lithographic printing accounts for maximum share in the market. In the near future too it is predicted to account for a leading market share. However, with respect to growth, digital printing is predicted to surpass all others because of the perceptible shift towards modern printing methods.
Different application areas are serving to generate sales in the global printing inks market. Those include publication, packaging, and commercial printing. Decorative printing is another application area.
Currently, most of the demand is created by the segment of packaging because of the unprecedented proliferation of the ecommerce sector and skyrocketing consumerism. In the next couple of years too, the packaging segment will likely register most of the demand. Printing inks are used in tags and labels, flexible materials, and metal cans – all of which are used in packing a range of products.
Some of the key players operating in the global printing ink market are Royal Dutch Printing Ink Factories Van Son, TOYO Ink Group, Sakata INX Corporation, Wikoff Color Corporation, Flint Group, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical Corporation, T&K TOKA Corporation, and Huber Group.