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What's Driving The Low Migration Inks Market Size? | Hubergroup Deutschland, Flint, Inx International Ink, Toyo Ink Europe NV, Zeller+Gmelin, Altana, Ruco Printing Inks, Wikoff Color Corporation and KAO Collins, Sun Chemical, Siegwerk Druckfarben
Low Migration Inks Market
North America low migration inks market is projected to witness promising gains in the coming years. This is mainly due to the stringent regulations imposed by U.S. EPA and FDA to restrict inks beyond a defined migration limit. Additionally, strong R&D investmesnt in the U.S. pharmaceutical industry will trigger the development of new products and devices which in turn will have positive influence on the growth of low migration inks market in the coming years.
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According to International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), North America made a substantial investment in pharmaceutical R&D, which was valued more than USD 115.0 billion in 2016, and this might increase in the coming years, and may influence the low migration inks market growth over the forecast period.
Low Migration Inks Market size is projected to grow at a high CAGR over the forecast timeframe. Strong product demand across food & beverage industry is a major factor contributing substantially to the growth of low migration inks market size over the projected timespan. This is mainly attributed to stringent regulations imposed on packaging and labelling in the food & beverage industry, as undesirable passage of chemicals/ink from printed side to the non-printed side can impose serious harm to the human health.
Additionally, Asia Pacific generated a total of USD 3.23 trillion in 2016, and is anticipated to rise further at a CAGR of 11% in the coming years. These factors coupled with stringent regulations against packaging & labelling in the food & beverage industry will help generate substantial gains to low migration inks market size in the coming years.
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Based on the end-user industry, low migration inks market size can be segmented into food & beverage, cosmetics, and pharmaceutical, end-user industries. Food & beverage industry contributed a significant share of the overall market in 2016. This is primarily due to improving health concerns mainly in Asia Pacific which has resulted in formulation of stringent regulations against packaging & labelling across food industry to avoid contamination caused by chemical/ink migration.
On the other hand, product consumption in pharmaceutical industry is also increasing, as the use of low migration ink labelling improves the drug safety. For instance, U.S. FDA developed guidelines for pharmaceutical manufacturers in 1999 to produce packaging components which will not leach harmful or undesirable substance to a patient when exposed or treated. These factors will collaboratively influence the growth of low migration inks market over the entire forecast timeframe.
Major market share contributors are Sun Chemical Corporation, Siegwerk Druckfarben, Hubergroup Deutschland, Flint, Inx International Ink, Toyo Ink Europe, Zeller+Gmelin, Altana, Ruco Printing Inks, Wikoff Color Corporation and KAO Collins. Most of these players are making significant investment in their R&D facilities to launch new products. For instance, Sun Chemical Corporation launched new high-performance UV flexo inks in May 2017, to meet the next generation customer requirement.
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