Press release
Ink Market Growth Drivers, Developments, Technology And Future Trends 2031
The global ink market was valued over US$ 17.3 Bn in 2021
It is estimated to grow at a CAGR of 3.3% from 2022 to 2031
The global ink market is expected to surpass value of US$ 24.1 Bn by the end of 2031
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Analysts' Viewpoint on Global Ink Market Scenario
Rapid increase in packaging and commercial printing in emerging economies is estimated to considerably boost the ink market. Manufacturers operating in the ink market are focusing on advanced technologies, such as lithographic ink, and high growth applications, such as packaging printing ink and ceramic tiles, to make their businesses stable after the COVID-19 pandemic. Ink is utilized to produce an image, design, or a text to effectively communicate and address the target audience. The growth of the print media industry is expected to fuel the demand for books, magazines, and other reading materials, which in turn is projected to propel the demand for printing presses. Furthermore, country-level manufacturers should focus on collaborations with global players operating in the ink market. Thus, the demand for ink in the printing industry is expected to rise in the near future.
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Overview of Global Ink Market
Ink is a liquid or paste containing dyes and pigments, and its primary application areas are packaging, tags & labels, textiles, and publication commercials. Packaging ink possesses better optical and structural properties, as compared to other inks, for the application segments mentioned above. The global ink market is projected to grow, owing to its favorable properties specifically for applications in packaging and ceramic tiles.
Rise in Demand for Printing Ink in Packaging Industry to Boost Global Ink Market
In terms of type, the printing ink segment of the global ink market is expected to exceed the value of US$ 4.3 Bn by end of 2022, attributed to huge demand from various industries such as textiles, clothing, and packaging. Flexible packaging ink is extensively utilized in the packaging industry. Flexography is used throughout the packaging industry for printing text, graphics, and images on non-porous materials that are employed in various applications such as food packaging, cloth packaging, etc.
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Growth of Print Media Industry to Propel Global Ink Market
Rise in demand for ink from the print media industry is expected to drive the ink market during the forecast period. The demand for ink for paper media is significantly high in emerging economies, especially in developing countries such as India and Vietnam. Newspapers, magazine, books, and others publishing mediums are expected to grow at a rapid pace during the forecast period. Inks are used in books to create attractive images and different textures to attract the attention of readers, thereby propelling the ink market.
The increase in urbanization and education levels across the globe is also likely to propel the ink market. Consistent rise in population, improvement in purchasing power of people, and technological advancements are fueling the ink market.
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Analysis of Key Players in Global Ink Market
The global ink market is associated with a small number of large-scale vendors controlling majority of the market share. Key firms are spending significant sums of money on comprehensive research and development, primarily to develop environment-friendly products.
Diversification of product portfolios and mergers & acquisitions are key strategies adopted by major players. Sun Chemical, Flint Group, Wikoff Color Corporation, Siegwerk Druckfarben AG & Co. KGaA , Toyo Ink SC Holdings Co., Ltd., INX International Ink Co. (Subsidiary of Sakata INX), Huber Group, ALTANA AG, T&K Toka Co., Ltd., Zeller+Gmelin GmbH & Co. KG, Sakata INX Corporation, Dainichiseika Color & Chemicals Mfg. Co., Ltd., Tokyo Printing Ink Mfg. Co., Ltd, Marabu GmbH & Co. KG, FUJIFILM Holdings America Corporation, Nutec Digital Ink, DIC Corporation, Royal Dutch Printing Ink Factories Van Son, Intenze Tattoo Ink, SICPA Holding SA, Eternal Ink, Inc., Millennium Colors, Inc., Gleitsmann Security Ink GmbH, Kao Collins Corporation , Zhuhai Letong Chemical Co., Ltd, and ZSCHIMMER & SCHWARZ Ltd are the prominent entities operating in the global ink market.
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