PUBLISHER: The Business Research Company | PRODUCT CODE: 1435506
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435506
Printing inks are liquid substances containing pigments or dyes utilized for creating images, text, and designs. They find widespread application in letterpress and lithographic printing methods. These inks typically comprise a pigment or pigments of the desired color mixed with oil or varnish. For instance, black ink, derived from carbon black, is blended with thick linseed oil or a similar oil, often incorporating rosin oil to which rosin varnish is added. Inkjet inks, on the other hand, are composed of a base carrier such as water, oil, or a solvent, along with colorants such as dyes or pigments. Small amounts of chemical additives are included to impart unique characteristics.
The primary categories of printing inks include oil-based printing inks, solvent-based printing inks, and water-based printing inks. Water-based printing ink, distinctively, is formulated with water instead of plastic or PVC. The product variations encompass offset printing inks, flexographic printing inks, rotogravure printing inks, and digital printing inks. These diverse inks find application across various end-use industries such as packaging, print media, commercial printing, and other sectors.
The printing inks market research report is one of a series of new reports from The Business Research Company that provides printing inks market statistics, including global market size, regional shares, competitors with a printing inks market share, detailed printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the printing inks industry. This printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The printing inks market size has grown strongly in recent years. It will grow from $31.81 billion in 2023 to $33.46 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The expansion observed in the historical period can be ascribed to the growth of publication and commercial printing, the development of the packaging industry, fluctuations in raw material costs, the impact of globalization, and prevailing economic conditions.
The printing inks market size is expected to see steady growth in the next few years. It will grow to $40.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated expansion during the forecast period is a result of sustainable practices, the surge in e-commerce, brand distinctiveness, smart packaging, and adherence to health and safety standards. Key trends in the upcoming period encompass progress in digital printing, the prevalence of digital printing, the adoption of environmentally friendly inks, UV LED technology, 3D printing inks, and the integration of smart packaging and RFID inks.
Throughout the forecast period, the printing ink market is anticipated to experience a boost from 3D technology. The increasing global interest in 3D printing technology, spanning consumers, researchers, and industrial production, is expected to generate a substantial demand for 3D printing inks. In contrast to 2D inks designed for planar surfaces, 3D inks are tailored for constructing volumetric entities and devices. A notable development in this realm occurred in November 2021 when Cubic Ink materials from ALTANA and DP Polar revolutionized industrial 3D inkjet printing, employing a continuous Multi-material Jetting process to process a diverse range of printing materials for maximum productivity.
The growth of the printing inks market is projected to be driven further by the expanding textiles and garments sectors. The textile industry encompasses the entire process of manufacturing textiles or fabrics, while the garments sector focuses on producing, manufacturing, and distributing clothing and wearable accessories. Printing inks play a crucial role in labeling textiles with care instructions, size details, branding, and other essential information. For example, in 2023, the National Council of Textile Organizations reported that U.S. textile and apparel shipments reached $65.8 billion in 2022, making the United States the third-largest exporter of textile-related products globally, with exports totaling $34.0 billion in 2021. Consequently, the growth in the textiles and garments sectors is a driving force behind the printing inks market.
The printing ink market is such as ly to face challenges due to a shortage of raw materials, leading to increased market prices. Global printing ink companies are grappling with shortages of key raw materials such as resins, monomers, photoinitiators, oligomers, and additives. The shortage is primarily attributed to the closure of raw material plants in China, a major supplier of these materials, driven by the country's efforts to reduce industrial pollution and improve its environmental impact. China's dominance in the supply chain for printing inks raw materials further exacerbates the challenges faced by market players. Already, manufacturers in Asia, such as Toyota and Honda, experienced supply chain disruptions in June 2021 due to shortages of various materials and the impact of COVID-19.
Prominent players in the printing inks market are introducing innovative solutions, such as the Onset 560 ink, to enhance their competitive position. The Onset 560 inkjet printing press features a comprehensive full-width printhead system and integrates advanced automation, including robotic technology. It is designed to cater to diverse applications in signage, display, and packaging, achieving impressive speeds of up to 1450 square meters per hour. A notable example is Agfa Corporation, a Belgium-based developer and provider of imaging systems and IT solutions for the printing industry. In May 2023, Agfa Corporation launched the Onset 560 ink, delivering exceptional print quality, a wide range of colors, and minimal ink consumption. This unique combination results in significant cost savings, with ink savings surpassing 20% compared to alternative ink options.
In July 2023, Koenig & Bauer, a Germany-based manufacturer of printing presses, completed the acquisition of Hubergroup Print Solutions for an undisclosed amount. This strategic move positions Koenig & Bauer to enhance its printing capabilities by leveraging the high-performance inks produced by Hubergroup Print Solutions. Hubergroup Print Solutions, a US-based producer of specialty inks, caters to various applications such as packaging, paints, primers, cosmetics, displays, and more.
Major companies operating in the printing inks market report are DuPont Inc., Arkema SA, DIC Corporation, Sun Chemical Corporation, Altana AG, TOYO Ink Group, Agfa-Gevaert NV, Flint Group, Siegwerk Druckfarben AG & Co., Rieger Druckfarben GmbH & Co. KG, Sakata INX Corporation, Ferro Corp., Huber Group, T&K TOKA Corporation, Tokyo Printing Ink Mfg. Co. Ltd., Nazdar Company, DYO Matbaa Murekkepleri Sanayi ve Ticaret A.S., Wikoff Color Corporation, Sanchez SA de CV, Dainichiseika Color & Chemicals Mfg.Co. Ltd., Marabu GmbH & Co. KG, Epple Druckfarben AG, Fujifilm Sericol India Private Limited, Doneck Euroflex S.A., RUCO Druckfarben, Encres Dubuit, Zeller+Gmelin GmbH & Co. KG, Royal Dutch Printing Ink Factories Van Son, Brancher Company
Western Europe was the largest region in the printing inks market in 2023. Asia-Pacific was the second largest region in the printing inks market. The regions covered in the printing inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the printing inks market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The printing inks market consists of the sales of liquid Ink, solid ink, toner, ribbon ink, UV ink, and 3D printing inks. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Printing Inks Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on printing inks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for printing inks ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The printing inks market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.