The global printing inks market is expected to reach over US$ 25 Bn by 2025, expanding at a CAGR of 4.6% from 2017 to 2025.
Printing is widely used on many different surfaces ranging from aluminum cans and plastic bottles through to paper. The basic raw materials for ink production are pigments, binders, solvents and additives. Demand for printing inks is growing rapidly owing to increasing array of end-use application and industries.
On the basis of product type, global printing inks market is segmented into solvent-based printing inks, water-based printing inks, oil-based printing inks and other printing inks. In 2016, oil based printing inks dominated the global printing inks market followed by solvent based printing inks. However, water-based printing inks and bio based printing inks are expected to grow at a faster rate.
On the basis of application, the printing inks market is categorized into packaging, publication and commercial printing and other applications. In 2016, packaging segment accounted for the largest share of global printing inks market. It accounted for more than 35% revenue share in the global printing inks market. Printing inks is widely used in various sectors such as; automotive sector, sport, toys, promotional items, electronic, household appliances, plastic cups, pots, plastic bottles, plastic cartridges, plastic tubes, glass, labels, optical media, bottle caps, furniture industry, flexible packaging, wallpapers, cigarettes, bottle caps for wine and sparkling wine, aluminum covers, films. Rising demand from publication and commercial printing across the globe is expected to boost the demand for printing inks in upcoming years.
For the purpose of this study, the global printing inks market is categorized into regional markets viz., North America, Europe, Asia Pacific and Latin America and Middle East and Africa. In 2016, North America was observed as the largest market for printing inks followed by Asia Pacific and Europe. The overall growth of the Asia Pacific market will be above the global average during the forecast period. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant growth in packaging and commercial printing industries.
Global printing inks market is highly consolidated. Major players includes DIC Corporation, Flint Group, Royal Dutch Printing Ink, Sakata Inx., Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical, T&K Toka, Toyo Ink S.C. Holdings, Wikoff Color etc.
Existing players are facing intense competition from the small/ regional players as