The factors such as the increasing applications of printing ink in the packaging industry, food, and beverage, printing and publication industry are extensively driving the demand for printing ink across the globe.
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The increasing demand of printing ink from packaging industry for developing labels, tags and printing the information regarding ingredients and manufacturing details of the product plays a significant role in driving the demand of printing ink worldwide. The enormous growth of the packaging industry across the globe is expected to further expand in the near future and as a result, it is continuously contributing towards the growth of the printing ink market globally.
The UV curing (Ultraviolet curing) is increasingly being adopted by for curing dry inks, coatings and adhesives. Moreover, with continuous innovation and upgradation in printing ink technologies is further anticipated to drive the global printing ink market. Increasing government regulations regarding the use of inorganic solvents and rise of e-commerce and e-books are expected to be the major hindrance in the growth of global printing ink market.
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On the basis of formulations oil based formulations hold largest share in the printing ink market due to its extensive applicability for commercial areas and publications. However, the water-based formulations segment is expected to witness fastest growth during the forecast period, as it is largely helping the manufacturers for printing of yard goods in the form of pieces or in the form of roll. It also helps in faster delivery of products and ensures efficiency in printing.
Some of the key players operating in the global printing ink market are Flint Group, DIC Corporation, 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