Wide use of printing inks in publishing and packaging industry is one of the major key growth prospects driving the market. Printing inks include three components, the vehicle, the coloring ingredients, and the additives. Printing inks are composed of a pigment, binder, a solvent and various other additives, such as, chelating agents.. Ink is a liquid of pigments and dyes used for writing and printing. Ink properties can vary greatly in terms of thickness, color, flow, and even permanence. Moreover, the nature and proportions of the ingredients vary according to the printing process to be used and to the material to be printed. Solvent-based, water-based, oil-based, UV, UV-LED, etc., are various types of the printing inks used in the market. Also, lithographic printing, flexographic printing, gravure printing, digital printing, and others are various process of the printing ink. Packaging, commercial and publication, textiles, etc., are some of the applications of printing ink.
Growing demand from digital printing industry and rising demand from packaging and labels sector is expected to increase the printing ink market. Also, rising textile industry in Asia Pacific region, and increasing demand for the digital printing ink services are contributing towards the growth of the printing ink market. In Asia Pacific region, low cost of production, high availability of labor, reduced commercial barriers, and material supply availability. Along with that, continuously growing population, increasing sustainability concerns, more spending power in developing regions, and rising demand for smart packaging, among others create the market for printing ink in forecast period. Furthermore, increasing commercials and digital printing throughout the world, this number is expected to increase exponentially in the coming years. Along with that, growing trend of flexible, rigid, and paper and board packaging materials. All these factors create the market for printing ink in up-coming years.
Based on analysis, for year 2021, forecasted publishing printing market size in the Asia Pacific region is expected to reach 43.3 billion U.S. dollars, which is followed by the marketing and commercial printing sector with a market size of 19.4 billion U.S. dollars. Moreover, the overall print packaging market size in the region was expected near about 130.3 billion U.S. dollars by 2020.
Leading companies operating in printing and textile industry have been working towards advanced development thus, offering various advanced features in printing ink. In addition, lack of raw material supply and inconsistency in material prices along with, lack of workers due to lockdown situation and effective government regulations. All these things may hamper the printing ink market. Some of the key players in the market include Flint Group, DIC Corporation, Sun Chemicals, Sakata Inx Corporation, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink S.C. Holdings, Huber Group, Epple Druckfarben AG, Dainichiseika Color & Chemicals Mfg. Co., Ltd., ALTANA AG, and others.
While analyzing the overall market region wise, DIC Corporation’s net sales for year 2020 is Japan-35.20%, USA-13%, and other-51.8%. Also, for previous year 2019 the total net sales according to region is Japan-36.5%, USA-12.5%, and Other-51%. Therefore,, the major key players are investing more amount based on regional requirement.
Trends and Future Outlook:
- Growing packaging and digital packaging sector create the demand for the printing ink.
- In January 2020, INX International Ink Co., which is a part of worldwide operations by Sakata INX, acquired RUCO Druckfarben.
- Increasing implementation of printing ink solutions for commercial printing and labeling.
- Growing end-use industry, flexible packaging, commercial printing & publishing, and packaging label.
- In December 2019, ALTANA acquired Schmid Rhyner AG, which is said to be the Overprint Varnish Specialist.