The market for printing ink is observing significant growth due to its increasing demand in domestic applications, metal cans, and packaging application offerings such as labels and tags.

On the basis of product, the printing ink market is segmented into lithographic inks, flexographic inks, gravure inks, digital inks, letterpress inks, and other products. Of all these products lithographic ink becomes the largest market by 2024 owing to the advantages that are observed by the manufacturers such as printing flexibility, quick process, and superior quality.

On the basis of application, the printing ink market is segmented into labels and packaging, publication, commercial printing, and other applications. The publication is further segmented into newspapers, books and magazines, and other publications. Amongst all the applications labels and packaging holds the largest market and is also expected to witness the fastest growth during the forecast period.

The global printing ink market has also been segmented by formulations into oil-based, solvent-based, water-based, and other formulations. Amongst all the segments oil-based formulations are the largest revenue holder and water-based formulations are expected to witness the fastest growth during 2020–2027.

The increasing demand for printing inks from the packaging industry and increasing demand for UV cured inks of several printing processes are expected to drive the growth of the global printing ink market. According to a recent study, it has been observed that the packaging segment has been discerning enormous growth and it is expected to follow a similar trend in the near future.

As per the results of the study conducted by Hochschule der Medien (HdM), Stuttgart, Germany, states that the packaging sector has been witnessing considerable savings with higher print quality by using printing inks.

Implementation of stringent government regulations is anticipated to be the major hindrance to the growth of the global printing ink market. There have been growing concerns for the release of toxic metals such as lead, cadmium, mercury and hexavalent chromium, and volatile organic compounds that are existent in certain printing inks which have forced government organizations to implement regulations on manufacturers for using bio-friendly substitutes.

Globally industry players are leveraging market growth by employing inkjet competencies along with a new trend that is gaining momentum shifting into the digital arena. For instance, in 2017 Siegwerk had announced the opening of its own inkjet centers in France. Globally industry players are leveraging market growth by employing inkjet competencies along with a new trend that is gaining momentum shifting into the digital arena. For instance, in 2017 Siegwerk had announced the opening of its own inkjet centers in France.

North America is the largest printing ink market as the region is home to a large number of industry players in printing ink. Moreover, the increasing demand for UV cured ink, expansion in population base, and growing trend of consumer spending on several products are further strengthening the growth of the printing ink market in this region.

Some of the key players operating in this market are Flint Group, hubergroup Deutschland GmbH, Siegwerk Druckfarben AG & Co. KGaA, ALTANA, Wikoff Color Corporation, Ink SC Holdings Co., Ltd., Sakata INX Corporation, T&K Toka Co., Ltd, and Zeller+Gmelin GmbH & Co. KG.

Source: VynZ Research