August 23, 2016
Digital Journal reported that the volume of printing inks being made is expected to rise to a “total of 4,180.2 kilotonnes by the end of 2016” according to the analysis, and rise to “4,989.7 kilotonnes by 2020” said the market research report, Printing Inks Market-Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.
Lithographic printing “dominates the printing ink markets” and the volume of ink used by the end of 2016 is expected to be 1,690.8 kilotonnes, expected to retain its “lead in the coming years”. Water-based inks are “expected to exhibit the highest growth rate [of] 5.5 percent from 2014 to 2016” and the total “volume” of this segment is expected to be “684.4 kilotonnes by the end of 2016 and rise further to 817 kilotonnes by 2020”.
The leading contributor to the global printing inks market is North America, with the “market’s total volume expected to reach 1,659.1 kilotonnes” by the end of 2020. However, the “online retail industry” in countries like China and India is “expected to drive the Asia Pacific printing ink markets”, in the next few years becoming a contender with North America.
The report noted that the printing inks market is “driven primarily by the booming global packaging industry”, and has been boosted by “booming online retail industry”. It was also reported that 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”.
Digital printing and the increase of household printers is “another key driver” for the market, although the “popularity of e-books could restrict the printing inks market”. The reason for this was cited as “awareness about the hazards of deforestation” and the ease of using online content with smartphones and tablets.
“Environmental regulations to minimise the impact of the manufacture and use of printing inks on the environment” are a key factor of the effect on the printing inks market. Many companies are diversifying into the “field of bio-based printing inks” because of the legal issues in the industry, and “implementation of environmental standards is thus crucial for the sustainability of the industry”.
Categories : City News