The global printing inks market is expected to rise to a total volume of 4,180.2 kilo ton by the end of 2016 and further rise to 4,989.7 kilo ton by 2020. The information in this preview comes from a Transparency Market Research report titled ‘Printing Inks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.’
Oil-based Printing Inks to Retain Dominance due to Widespread use in Lithographic Printing
By process type, lithographic printing dominates the printing inks market, with the volume of printing inks consumed for lithographical printing expected to be 1,690.8 kilo tons by the end of 2016. Despite the rapid growth of the digital printing segment, lithographic printing is likely to remain in the lead in the coming years.
Due to their use in lithographic printing, oil-based printing inks hold the leading share in the global market by product type. However, water-based printing inks are expected to exhibit the highest growth rate – 5.5% from 2014 to 2020 – of all product segments of the global printing inks market. The total volume of the water-based printing inks segment is expected to be 658.4 kilo ton by the end of 2016 and further rise to 817 kilo ton by 2020.
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Regionally, North America is the leading contributor to the global printing inks market, with the regional market’s total volume expected to reach 1,659.1 kilo ton by the end of 2020. Nevertheless, the flourishing online retail industry in countries such as India and China is expected to drive the Asia Pacific printing inks market in the coming years, with the region likely to become a contender to North America in the coming years.
Rising Demand from Packaging Industry Vital for Printing Inks Market
The global printing inks market is driven primarily by the booming global packaging industry, where printing inks are crucial for identification and marketing purposes. The packaging sector has received a significant boost from the booming online retail industry, where packaging carries paramount importance. The steady growth of the online retail sector and its ongoing transition from desktops to smartphones is likely to ensure steady demand for printing inks in the coming years.
“The rise of the digital printing industry in recent years has also been hugely beneficial for the printing inks market, with digital printing likely to become a leading contributor to the printing inks market in the coming years,” said TMR’s lead analyst. Along with the proliferation of digital printing, the increasing use of household printing devices is another key driver for the printing inks market.
Rising Popularity of E-books to Restrict Printing Inks Market
While digital printing has become a key segment of the printing inks market, the growing popularity of digital content such as e-books is likely to be detrimental to the global printing inks market in the coming years. The widespread awareness about the hazards of deforestation and the ease of accessing online content through smartphones and tablets have led to a remarkable growth of the digital content industry, with even newspapers starting to go all-digital due to the falling revenue from conventional sales. This could be a significant restraint on the printing inks market in the coming years.
Environmental regulations to minimize the impact of the manufacture and use of printing inks on the environment are another key restraint on the printing inks market. Due to the requirement for legal compliance, many players are entering the field of biobased printing inks. Industry-wide implementation of environmental standards is thus crucial for the sustainability of the industry.
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The global printing inks market was dominated by companies such as Sun Chemical Corporation, Flint Group, and Siegwerk Druckfarben AG & Co. KGaA in 2013. According to Transparency Market Research, these three giants accounted for 26.3% of the market in 2013, with other key players such as TOYO Ink Group, Sakata INX Corporation, Huber Group, and Wikoff Color Corporation following.
The future of the global printing inks market is likely to be determined on whether the key players succeed in coming up with biobased formulations for printing inks. Due to the significant total volume of the printing inks market, the development of biobased inks is being backed by several governments through environmental regulations. This has made product advancement the key goal for printing inks manufacturers.
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