FELTON, California, Feb. 11, 2019
FELTON, California, Feb. 11, 2019 /PRNewswire/ -- Global Printing Inks Market is expected to reach USD 25.83 billion by 2025. Printing ink is an ink consisting of dyes or pigments of the required color mixed with varnish or oil. It is used in thin films on various substrates like molded plastic articles, textiles and glass, paper, plastic films, paperboard, and metallic foil and sheets. It is designed to have communicative, decorative, or protective functions. However, in many cases, a combination of these functions are used. As per the end use property it has resistive property, visual characteristics, bond to the given substrate, good printability, and drying under stated conditions. The printing inks industry is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.
Growing government initiative for development of bio-friendly inks, and high demand from packaging industry as it is water resistant and resistant to fade when subjected to UV light are documented as major factors of the market that are estimated to enhance the growth in the years to come. However, presence of toxic compounds that may harm environment is a factor that may restrain overall market growth in the coming years. The market is segmented based on product types, resin type, applications, and region.
Digital, gravure, lithographic, flexographic, and other products type could be explored in printing inks market in the forecast period. The lithographic segment accounted for the largest market share of the market and is estimated to lead the overall market in the coming years. This may be because of its high quality for practical and smooth surfaces at comparatively low costs. Also, gravure sector is estimated to grow at fastest pace in the coming years. It is a high-speed process and is costly.
There are resin type that include polyurethane, modified rosin, acrylics, modified cellulose, hydrocarbon, polyamide, and others could be explored in printing inks industry in the future period. Polyurethane segment is estimated to lead the market with largest market share in the upcoming years, as the composition of resins is suitable for the type of ink to produce. Polyurethanes and polyamides together used for producing solvent based flexographic products and gravure products. However, lithographic solvents are produced using modified rosins and hydrocarbons.
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The market may be categorized based on applications like commercial printing/publishing, tags & labels, corrugated cardboards, flexible packaging, folding cartons, and others that could be explored in forecast period. Flexible packaging sector accounted for the largest market share of printing inks market and is estimated to lead the overall market in the coming years. This may be because of rising demand for printing ink from packaging industry. However, commercial printing/publication sector is estimated to grow at fastest pace in the coming years.
Globally, North America accounted for the largest market share of printing inks industry and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers in the region like flexible packaging and commercial printing industry. Also, high demand for international shipping and developing e-commerce sector is also estimated to boost the overall market in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The developing countries like India and China are the major consumers of printing inks market in the region, as rising advancements in printing inks.
The key players of printing inks industry are Sun Chemical, DIC Corporation, SiegwerkDruckfarben, FlintGroup, and SAKATA INX CORPORATION. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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