Placeholder image

Printing inks market to “grow strongly”

February 17, 2017

The market is expected to grow in value and size by 2020.

A report from Transparency Market Research (TMR) stated that the global printing inks market is “estimated to grow strongly” by 2020, with the “moderately fragmented competitive landscape” featuring eight “prominent” companies dominating “almost half the global printing inks market”. The “top eight” companies included Siegwerk Druckfarben. KGaA, Sun Chemical, ALTANA, Flint Group, TOYO Ink Group, Sakata INX, Huber Group, and T&K TOKA.

The eight were said to have “identical shares in the market”, and “most of them have integrated backwards to ensure steady flow of raw materials”, while due to “a host of raw material suppliers, the market players find it easy to procure raw materials at reduced prices”. However, “providing stiff competition to the established players in the market are new entrants who are enticing consumers with eco-friendly printing inks”.

The analysts noted that “other noticeable trends in the global market for printing inks are continued product development, product improvement, and acquisitions of smaller players by global giants in order to expand their geographical footprints”. Its predictions were that the demand for printing inks would “attain a value” of 4,989.7 kilo tonnes by 2020, and “revenue-wise” it was to reach a value of $20.16 billion (€18.92 billion) by 2020.

They also stated that “depending upon the type of ink, its composition, and physical state”, the global market “can be segmented into water-based […] oil-based printing […] solvent-based […] and other printing inks”, with oil-based inks holding “a dominating share”. In future, this segment “will likely retain its leading position despite paring its share marginally due to a decrease in the market share of lithographic printing processes” that use these inks in publication and commercial printing.

This segment is expected to reach a value of $7.51 billion (€7.05 billion) by 2020, while a regional trend in North America was “growing digitalisation” that is set to “slow down” that market, with the continent said to “dominate” the global industry, “trailed closely” by Europe. The “expanding” packaging segment will “stoke growth” in both “in the near future”, but North America “is expected to trim its share slightly” by 0.6 percent “on account of rapid growth in digitisation” and slowing industries.

The Asia-Pacific region meanwhile is forecast to “outshine all the region segments to account for maximum market share by 2020”, with “substantial demand” from packaging to “fillip growth” globally as well. This “robust demand” is “slated to majorly boost” the industry, with the analysts commenting that “inks are widely used in the packaging of foods, beverages, pharmaceuticals, cosmetics, and personal care products.

“Among the various printing inks, flexographic printing and gravure printing are primarily used in flexible package printing. Expansion of the food and beverages market along with the increased demand for flexible packaging in the healthcare industry is expected to boost the demand for printing inks in the next six years”. Another factor in the market’s future growth however was “stringent” environmental laws”, which might “deter” its expansion.

TMR noted that these laws are “countering the growth”, with “strict” regulations having an impact because of being “primarily fluids on account of the use of petrochemicals as their solvents”. The solvents “dry in ambient air, emitting significant quantities of volatile organic compounds (VOCs) that harm the environment”, and some regulations the market is “subjected to” include the Toxic Substances Control Act (TSCA) and Clean Air Act (CAA).

Categories : City News

Tags :

Leave a Reply