Printing Inks Market Trend, Share, Growth Drivers and Business Opportunities

The surging requirement of printing inks in several end-use industries, such as advertising, labeling, and packaging, is fueling their sales across the world. With the increasing gross domestic product (GDP) of many countries, surging disposable income of people, mushrooming population of young individuals, and rapidly changing lifestyles of people, the demand for packaged products is soaring, which is, in turn, driving the expansion of the packaging industry. This is subsequently fueling the requirement for printing inks.

The adoption of printing inks in the packaging industry is predicted to soar in the coming years, primarily because of their growing requirement in labels and tags, flexible materials, and metal cans. Besides, the rising demand for ultra violet (UV)-cured printing inks is also propelling their sales across the world. These printing inks provide low heat generation, zero ozone generation, long service life, and energy efficiency. Moreover, these printing inks are environment-friendly.

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Organizations, such as Co. KGaA and Siegwek Druckfarben AG are increasingly focusing on producing innovative and environment-friendly printing inks, such as UV-cured inks and water-based inks in order to achieve short production time and optimal efficiency. Furthermore, the growing public awareness about the benefits of using flexible printing products in directories, periodicals, inserts, catalogs, and magazines is also driving the expansion of the global printing inks market.

Apart from the aforementioned factors, the growing usage of printing inks in the commercial and publication printing sector, owing to the rapid digitalization and rising shift towards e-commerce, is also predicted to fuel the market at a CAGR of 4.7% from 2017 to 2023. Furthermore, the value of the market will surge from $17,537.4 million in 2016 to $23.9 billion by 2023, as per the estimates of P&S Intelligence, a market research company based in India. Letterpress inks, digital inks, gravure inks, flexographic inks, and lithographic inks are the most widely used types of printing inks across the world.

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Globally, the sales of printing inks were observed to be the highest in North America in the years gone by. In this region, the demand for these inks was the highest in the U.S. during the last few years. On the other hand, in the Asia-Pacific (APAC) region, the sales of these inks were the highest in China, while Germany dominated the European printing inks market in the past years. Additionally, in Latin America, Brazil witnessed the highest demand for these inks, while Turkey registered the highest sales of these inks in Middle East and Africa during the past few years.

Hence, it can be said without any hesitation that the demand for printing inks will surge sharply in the coming years, mainly because of their growing requirement in various end use industries, such as packaging and advertising.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.