Printing Inks Market

Analysis from GMI Research finds that the Printing Inks Market earned revenues of USD 18.6 billion in 2022 and forecast to touch USD 23.7 billion in 2030 will grow at a CAGR of 3.1% from 2023-2030.

Major Printing Inks Market Drivers

The global printing inks market growth is supported by different key factors such as a high rise in demand from developing regions, growing usage of printing ink in the packaging industry, and significant development in the e-commerce industry. The effective growth in applications of printing ink in industrial printing, commercial printing, and packaging printing, is predicted to propel the market in the forecast period. Printing inks find different applications in food packaging, being used on materials such as carton boards, paper, plastics, and multilayered materials. Printing inks are extensively employed in food packaging to convey essential customer information and for marketing determinations. The growing usage of printing ink in the packaging industry leads producers with significant growth opportunities, allowing them to discover new revenue streams and extend their businesses. The expansion of printing ink utilization in packaging is attributed to factors such as the growing population, evolving customer lifestyles, greater adoption of convenience foods, and the high growth in demand for biodegradable products. In manufacturing procedures, technological innovations are attributed to revenue growth and introduce lucrative business opportunities for producers in the printing ink market.

The rapid rise in demand from developing nations is notably propelling the printing ink market share. Global printing ink market growth is estimated in developing nations such as China, India, Indonesia, Mexico, Cambodia, and Brazil due to significant development in living style, growth in industrialization across these evolving regions, and economic improvement. The growing gross domestic product and the rise in production activities in these nations are predicted to present a positive impact on printing inks demand. Also, there is a higher need for packaging materials, which further drives the demand for printing ink around these nations. The growing demand for customer goods and multi-layered packaging across China and India as well as growth in manufacturing activities in markets will also propel the need for printing inks for various applications.

In addition, the competitive market insight, coupled with the focus of market players on scaling up printing ink production to meet the growing demand around different industries, is a significant factor attributing to the growth of the global printing inks market share. Market players are strategically placing themselves to stay ahead of the competition, specifically in applications such as tags, metal cans, and labels where there is an increasing demand for printing inks. This driver fosters the growth of the global market. Scientists from emerging nations are intensifying their research efforts in the field of printing solvents, discovering developed methods to produce printing inks. The integration of improved technologies in the manufacturing procedures of printing inks propels market growth. The printing ink market is rising significantly in different nations due to their stringent rules and regulations. European regions follow regulations established by the Exclusion Policy for Printing Inks and Related Products to ensure the production of high-quality printing inks. Hence, their printing inks have a massive requirement globally.

The developing trend of growing need for bio-based printing inks is shaping the global market growth in the forecast period. Different producers of printing ink are now going for products that are primarily bio-based owing to the growing demand for sustainable inks from different end-user industries involving publishing, printing paper, and packaging. To conform with severe governmental rules on the usage of solvent-borne printing inks, market players are aiming to produce sustainable products. The usage of bio-based inks in various applications, involving domestic goods, and packaging, has motivated printing inks producers to decrease their dependency on plastic products that are petroleum-based. Subsequently, producers of printing inks are now utilizing sustainable products that decrease VOC emissions and are biodegradable. The prevalence of bio-based printing inks is growing around the globe, and this effective trend is predicted to foster the printing ink market trends globally in the forecast duration.

However, the printing inks market faces hurdles owing to downward pricing pressure, which is predicted to restrict revenue growth because slow product pricing growth is a result of intense competition within the industry. stringent regulatory frameworks such as the Federal Food, Drug, and Cosmetic Act, and the Food and Drug Administration of the U.S. impose limitations on the utilization, distribution of inorganic solvents, and toxic metals, and manufacturing. These regulations are predicted to impede market growth in the forecast period.

Based on Application, Packaging segment dominated the global packaging ink market

The growth of the packaging segment is attributed to the significant rise in the middle-class population in developing nations such as Thailand, and India, significant changes in the preferences of customers for ready-to-eat food packaging, and growth in demand for bio-based products. The considerable growth in packaged food consumption, growing investment in the packaging industry, and the emergence of e-commerce in the packaging industry drive the packaging segment growth in the forecast period.

By Type, UV Curable segment held the largest revenue share in the printing ink market

UV Curable printing inks are attaining prevalence in the industry because of their ability to cure instantly when exposed to UV light. This characteristic enables for faster production procedures and significantly decreases drying times. The proficiency and speed offered by UV curable inks make them a preferred choice in different printing applications, propelling their increased adoption in the market. UV curable printing inks not only deliver environmental friendliness with low Volatile Organic Compound emissions but also carry superior print quality, excellent adhesions, and vibrant colors, to a wide range of substrates including metals, paper, plastics, and glass. The resistance to abrasion, and chemicals, and durability, along with customization capabilities, make UV-curable printing inks appropriate for a broad series of applications. Despite issues such as initial equipment spending and ink prices, UV curable inks are well-positioned to fulfill the need for quality, speed, sustainability, and versatility in different industries which further predicted that the UV curable printing ink type segment witness the fastest CAGR in the forecast period.

By Process, Lithographic Printing dominated for the highest CAGR of the global printing ink market

The growth of this segment is attributed to the considerable growth in demand for lithographic printing in different applications such as publication, and packaging, industrial and commercial printing, and several other applications. For processing lithographic printing it needs a special ink such as lithographic inks, often generated by mixing resins, pigments, additives, and solvents to confirm suitable observance to the coat the surface.

Based on Region, Asia Pacific region registered the market growth

Asia Pacific region accounted for the largest market share due to high growth in consumption of packaged food items, substantial advancements in the food industry, and continuous growth in population in regions such as India, China, and others. It is predicted that China will be the largest contributor to the printing ink market growth in the Asia Pacific region because in China there is a huge packaging requirement. In Sept 2022, the China packaging industry introduced 11.6 million metric tons of paperboard and packaging papers and was the largest manufacturer globally during that year. China is experiencing a growing trend in the usage of different packaging materials, such as rigid, flexible, and paper and board packaging. This positive push in the packaging industry is predicted to propel the market requirement for printing inks in the country.

In addition, the presence of giant market players and rise in the technological printing ink advancements will further foster the growth of the printing ink market in the Asia Pacific region in the forecast period. Moreover, the growing urbanization in the Asia Pacific region, substantial growth in disposable incomes of consumers, and diversified lifestyles attributed to greater customer need for products, developing the requirement for successful labeling, branding, and packaging – all of which heavily depend on printing inks.

By Region, North America is predicted to witness fastest growth in the printing ink market

The steady growth of this region is attributed to growing penetration of bio-based goods in different industries such as packaging, food and beverages, and printing and rising consciousness towards the usage of flexible printing products in directories, catalogs, and others. In addition, the U.S. is predicted to rise at a substantial level on account of growing need for printing goods in different end-use segments such as commercial printing, packaging, and publication industry. Drivers alike growing customer spending choices, rising awareness of high-performance packaging products and changes in living standards of individuals would lead to a positive impact on the North America printing ink market growth.

Top Market Players

Various notable players operating in the market include ALTANA, Dainichiseika Color & Chemicals Mfg. Co. Ltd, Dow, Epple Druckfarben AG, Flint Group, FUJIFILM Corporation, Hubergroup Deutschland GmbH, SAKATA INX CORPORATION, Sanchez SA de CV, SICPA HOLDING SA. among others

Key Developments

• • In 2023, Toyo Ink Group announced an acquisition of Thai Eurocoat to expand its local business functions to become the topmost metal coatings supplier around the canned food market in ASEAN.
  • In 2022, ALTANA announced a stake acquisition in SARALON to support SARALON in the development of its goods and extend its product portfolio of advanced solutions for printed electronics.
  • In 2022, UbiQD and SICPA expanded their partnership to significantly develop the anti-counterfeit security inks which is constructed by UbiQD’s quantum dot technology.
  • In 2022, Sun Chemical successfully acquired SAPICI to introduce and develop unique polymers for the complete portfolio of coatings, inks, and lamination adhesives.
  • In 2022, Encres DUBUIT announced an acquisition of POLY-INK to develop its prevailing competitive portfolio globally and introduce developed bio-based solutions.

Segments covered in the Report:

The Global Printing Inks Market has been segmented on the basis of Type, Process, Application. Based on the Type, the market is segmented into Nitrocellulose, Polyurethane, Water based, Acrylic, UV Curable. Based on the Process, the market is segmented into Lithographic Printing, Flexographic Printing, Gravure Printing, Digital Printing, Other Processes. Based on the Application, the market is segmented into Packaging, Commercial and Publication, Textiles, Other Applications.

Report Coverage	Details
Market Revenues (2022)	USD 18.6 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Process, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ALTANA, Dainichiseika Color & Chemicals Mfg. Co. Ltd, Dow, Epple Druckfarben AG, Flint Group, FUJIFILM Corporation, Hubergroup Deutschland GmbH, SAKATA INX CORPORATION, Sanchez SA de CV, SICPA HOLDING SA. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Printing Inks Market by Type

• • Nitrocellulose
  • Polyurethane
  • Water based
  • Acrylic
  • UV Curable

Global Printing Inks Market by Process

• • Lithographic Printing
  • Flexographic Printing
  • Gravure Printing
  • Digital Printing
  • Other Processes

Global Printing Inks Market by Application

• • Packaging
  • Commercial and Publication
  • Textiles
  • Other Applications

Global Printing Inks Market by Region

• • North America Printing Inks Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Process
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Printing Inks Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Process
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Printing Inks Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Process
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Printing Inks Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Process
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Printing Inks Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ALTANA
  • Dainichiseika Color & Chemicals Mfg. Co. Ltd
  • Dow
  • Epple Druckfarben AG
  • Flint Group
  • FUJIFILM Corporation
  • Hubergroup Deutschland GmbH
  • SAKATA INX CORPORATION
  • Sanchez SA de CV
  • SICPA HOLDING SA