Placeholder image

Global printing inks market to top $20 billion by 2020

March 18, 2015

A new market report estimates a growth of five percent between now and 2020.inkjet

The report, was produced by analysts Transparency Market Research and titled Printing inks market – global industry analysis, size, share, growth, trends and forecasts 2014 – 2020. Its major finding is that the market was valued at $14.41 billion (€13.59 billion) in 2013 and is expected to be worth around $20.17 billion (€19.02 billion) by 2020, a compound annual growth rate (CAGR) of five percent.

The analysis separates the market into product and process segments, with solvent-, water- and oil-based printing inks alongside other printing inks that are part of the product section, including UV-cured inks. The process section meanwhile included lithographic, gravure, flexographic and digital printing, while on an application basis, the report studied packaging, publication and commercial printing.

The packaging segment was the largest in 2013, thanks to “rising demand for flexible packaging”, and is expected to remain a fast growing segment as flexible packaging, tags and label applications are “anticipated to drive the global printing inks market” during the next few years. Lithographic printing held a majority of the market in 2013, with 40 percent of volume, while digital printing is expected to be one of the “fastest growing segment[s]” during the forecast period.

In terms of printer inks, the demand is said to be “likely to increase” over the next six years due to a “significant rise” in digital printing, alongside a “substantial demand” for inkjet use in household printing. Water-based printing inks are a sub-segment of the market set to grow quickly as well, with global demand for “environmentally-safe printing inks” such as water and UV-based inks estimated to “increase at a rapid rate in the next few years”.

At the moment, oil- and solvent-based inks account for a “major portion” of the printing inks market, but the growth of water-based inks is “anticipated to overshadow” the market share of these two segments between 2014 and 2020. Regionally, North America dominated with more than 30 percent share in volume in 2013, thanks to increasing demand for inks in flexible packaging and commercial printing, while the Asia Pacific is “anticipated to be the fastest growing region” in the sector.

This growth in the Asia Pacific, the analysts added, will be due to “rising demand” in India and China, and market share is expected to “increase significantly”. Continued economic recovery in both the USA and Europe, coupled with increased demand for inks across the other international markets, is also predicted to “propel” the market to a higher valuation. Sun Chemical and Flint Group are among the major players that the report highlights, alongside TOYO Ink Group and Huber Group.

Categories : City News

Tags :

Leave a Reply