The printing inks market consists of sales of printing inks by entities (organizations, sole traders or partnerships) that manufacture printing and inkjet inks. Printing inks are liquids that contain pigments or dyes, which are used to produce images, text and designs. They are widely used in letterpress and lithographic printing. Printing inks consist of a pigment or pigments of the required color mixed with oil or varnish.
The global printing inks market is expected to decline from $37.2 billion in 2019 to $35.8 billion in 2020 at a compound annual growth rate (CAGR) of -3.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of % from 2021 and reach $35.5 billion in 2023. Western Europe was the largest region in the global printing inks market, accounting for 30% of the market in 2019. Asia Pacific was the second largest region accounting for 25% of the global printing inks market. Africa was the smallest region in the global printing inks market. The printing inks industry has introduced high-resolution replacement inks as a cost-effective alternative for barcode case coding applications. High resolution inks are more effective than traditional inks as they allow fine and solid printing at high speed. They also enable re-printability and drastically reduce the number of cleaning stencils required. For instance, in August 2018, IIMAK introduced Sure Scan II Plus, high-resolution replacement compatible inkjet ink, which reduces the cost of printing and downtime, and eliminates waste. This functions as a replacement option that offers performance in various high-resolution inkjet printers such as Foxjet, Matthews and Diagraph. Top companies in the market are developing high definition inks with premium durability, fast dry time, and a 12-month shelf life.
The major players in the global printing inks market are DIC Corporation, Flint Group, Toyo Ink S.C. Holdings, Sakata Inx, Siegwerk Druckfarben
The countries covered in the global printing inks market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Printing Inks Market is segmented:
1) By Type: Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks
2) By Product Type: Offset Printing Inks, Flexographic Printing Inks, Rotogravure Printing Inks, Digital Printing Inks
3) By End-Use Industries: Packaging, Print Media, Commercial Printing, Others