Digital Printing Packaging Market worth $45.1 billion by 2027 | Key players Huhtamaki, Constantia Flexibles, Quad/Graphics, Inc., THIMM The Highpack Group, Printpack, DS Smith

According to recent market research the "Digital Printing Packaging Market by Printing Inks (Solvent-based, UV-based, Aqueous), Printing Technology, Format, Packaging Type (Corrugated, Folding cartons, Flexible Packaging, Labels), End-use Industry and Region - Global Forecast to 2027", published by MarketsandMarkets, the global digital printing packaging market size is projected to grow from USD 29.4 billion in 2022 to USD 45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027. The growth of the digital printing packaging market is attributed to incorporation of digital printing into different packaging media, such as corrugated boxes, cartons, bags, metal, cans, tags, and labels. Digital printing on packaging mediums provides a variety of benefits, such as photo-realistic illustrations, aesthetic appeal, and better communicability, and also plays a role in the marketing, promotional, and distributional activities of end-products. In 2020, the digital printing packaging market was significantly impacted by the COVID-19 pandemic, with a substantial decline in its CAGR. However, recovery was witnessed with a positive impact on the digital printing packaging market because of demand in the construction sector in 2021.

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UV-based inks are cured by exposure to strong UV light. These inks are pure solid systems and do not contain solvents. The lack of solvents offers environmental benefits, high speed, and faster turnaround time. The curing process takes place through the interaction of the ink ingredients and a strong UV light source in a dryer. They can be rapidly cured, thereby increasing the print speed and saving production time. UV-based inks include colorants in dye or pigment form. These inks can be applied to a wide range of uncoated substrates and produce a very clear image with excellent color value. Owing to the high density, UV-based inks are capable of being printed on rigid substrates. This has increased the usage of UV-based inks for printing on POS/POP, wood, metal, glass, and other such substrates.

The demand for these inks is lower compared to water-based inks, as they are expensive, require expensive curing modules in the printer, and the cured ink has a significant volume, resulting in slight relief on the surface. The major drawbacks of UV-based inks are that they cannot be used on all substrates and cannot be printed on dark substrates and are susceptible to cracking when applied on flexible substrates. The most common type of UV-based ink used in digital printing is composed mainly of monomer and oligomer acrylate resins, along with photoinitiators.

UV-based inks are a 100% solid system and do not contain solvents. They do not emit any VOCs as they are devoid of solvents. Hence, using this type of ink helps lower the environmental impact and achieve an excellent color value. The major disadvantage of UV-based ink is that it cannot be used on all substrates and cannot be printed on dark substrates. UV-based inks are suitable for food packaging labels only when it is fully cured.

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The global digital printing packaging market size is projected to grow from USD 29.4 billion in 2022 to USD 45.1 billion by 2027, at a CAGR of 8.9% from 2022 to 2027. The growth of the digital printing packaging market is because of its ability to offer aesthetic appeal to packed products as most purchasing decisions are made at the point of sale. The usage of digital printing in packaging is growing, and the need to reduce the cost of printing without compromising the quality of the image will drive the market for digital printing. In 2020, the digital printing packaging market had a nominal impact on its demand due to COVID-19. Slowing raw material production, supply chain disruption, hampered trade movements, declining construction demand, and reduced demand for new projects also have hampered market growth.

The digital printing packaging market has major players including DS Smith (UK), Smurfit Kappa (Ireland), CCL Industries Inc. (Canada), Quad/Graphics Inc. (US), and Printpack (US)., among others. These players have adopted various growth strategies, such as mergers & acquisitions to increase their market shares and enhance their product portfolios.

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Smurfit Kappa is Europes leading manufacturer of corrugated packaging, containerboard, and bag in box. It is the only pan-South American manufacturer of corrugated and containerboard packaging. The company operates in 36 countries, has 242 packaging conversion plants, 34 paper mills, 46 recycling plants and wood procurement, and 34 other production facilities. It provides packaging of 11.7 billion m2 per year. Smurfit Kappa has 350 production sites worldwide, with locations in 23 European countries and 13 American countries. Smurfit Kappa is a member of the FTSE 100.

CCL Industries is the worlds largest label company and a global specialty packaging pioneer. The company has 204 manufacturing facilities across 43 countries on six continents. CCL is the worlds largest converter of pressure-sensitive and specialty extruded film materials for decorative, instructional, functional, and security applications for government institutions and large global customers in the consumer packaging, healthcare and chemicals, consumer electronic devices, and automotive markets. Extruded and laminated plastic tubes, aluminum aerosols and specialty bottles, folded instructional leaflets, precision decorated and die cut components, electronic displays, polymer bank note substrates, and other complementary products and services are sold concurrently to specific end-use markets.

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