Press release
Printing Ink Market – Analysis and Forecast To 2024, Ink SC Holdings Co., Ltd., Sakata INX Corporation, T&K Toka Co., Ltd, and Zeller+Gmelin GmbH & Co. KG.
The global printing ink market is valued at USD 19,341.7 million in 2018 and is expected to reach USD 25,237.6 million by 2024. The market for printing ink is observing a significant growth due to its increasing demand in domestic applications, metal cans and packaging application offerings such as labels and tags. This market is expected to witness CAGR of 4.6% during 2019–2024 owing to robust scope for advertisement expenditure and incremental growth in label printing and packaging.
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Market Segmentation
On the basis of product, printing ink market is segmented into lithographic inks, flexographic inks, gravure inks, digital inks, letterpress inks, and other products. Of all these products lithographic ink becomes the largest market by 2024 owing to its advantages that are observed by the manufacturers such as printing flexibility, quick process and superior quality. Moreover, digital ink is expected to witness the highest growth worldwide due to extensive shifting trend of key industry players into digital fields. As a result, digital ink is expected to witness fastest growth during 2019–2024.
Insight by Application
On the basis of application, printing ink market is segmented into labels and packaging, publication, commercial printing, and other applications. The publication is further segmented into newspaper, books and magazines and other publications. Amongst all the applications labels and packaging holds the largest market and is also expected to witness fastest growth during the forecast period. The packaging is considered to be the most crucial aspect in marketing of products as it helps in effectively positioning the products in the mind of the consumers and also helps in influencing their purchasing decision. The packaging industry in North America is observed to be a foremost customer of printing inks. Furthermore, accelerating demand for flexible packaging and expansion of the food and beverage industry is expected to strengthen the growth of the printing ink market globally.
Geographic Overview
Asia-Pacific is observed to witness the fastest growth in this market. As the region comprises of largest population, increase in disposable income and accelerating demand for packaged products is contributing significantly towards the growth of this market. Additionally, increasing application of printing ink in several industries such as printing, packaging and publication, food and beverages are expected to drive the demand of printing ink in Asia-Pacific.
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Competitive Insight
Market players in the printing ink industry are seeking ample opportunities in publishing and packaging industry that comprises of commercial printing such as magazines and newspapers. Some of the key players operating in this market are Flint Group, hubergroup Deutschland GmbH, Siegwerk Druckfarben AG & Co. KGaA, ALTANA, Wikoff Color Corporation, Ink SC Holdings Co., Ltd., Sakata INX Corporation, T&K Toka Co., Ltd, and Zeller+Gmelin GmbH & Co. KG.
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VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.
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