Printing Inks Market To Continues to increase by 2023
United States, 23 November 2017 -- According to a new market research report “Global Printing Inks Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by Product (Lithographic Inks, Flexographic Inks, Gravure Inks, Digital Inks, Letterpress Inks and Other Printing Inks), by Application (Labels and Packaging, Commercial Printing, Publication and Others), by Formulation (Water-based, Solvent-based, Oil-based and Others)” published by P&S Market Research, the global printing inks market is projected to reach $23,881.9 million by 2023, growing at a CAGR of 4.7% during 2017 - 2023.
As per the research, the global printing inks market is likely to grow from $17,537.4 million in 2016 to $23.9 billion by 2023. With the increasing applications in end-use industries such as food and beverages, printing, packaging and publication industry, the global market for printing inks is expected to grow at a robust pace during the forecast period. The steady growth in the packaging industry in the U.S., China and India is expected to augment the demand of printing inks at a significant level during the forecast period. The U.S. is expected to remain the largest market during the forecast period on account of growing penetration of eco-friendly inks comprising water-based and UV-cured printing inks, increasing demand in packaging sector backed by steady growth in consumer retail sales worldwide.
As per the findings of research, the labels and packaging industry has been the largest consumer of printing inks globally. Based on product, lithographic inks have been the largest revenue generator for the market. Oil-based inks generate the largest revenue in the global printing inks market, in terms of formulation.
Geographically, North America was the largest market for printing inks market, where the U.S. was the largest contributor to the regional market. China was the major market in Asia-Pacific, whereas in Europe, Germany generated the highest revenue. Additionally, Turkey was the largest market in the Middle East and Africa, while in Latin America, Brazil emanated the maximum demand.
The factors driving the growth of the market include growing demand from packaging industry and rising demand for UV-cured inks globally. The use of printing inks in packaging industry is expected to further rise during the forecast period on account of their increasing application in tags and labels, metal cans and flexible materials. UV-cured printing inks offer energy-efficiency, low-heat generation, long service-life and zero ozone generation, which is expected to propel the growth of UV-cured printing inks. Additionally, the increasing awareness towards the use of flexible printing products in periodicals, directories, inserts, magazines and catalogs would further spike the demand for printing inks during the forecast period.
Some of the key players in the global market include Flint Group, Siegwerk Druckfarben AG & Co. KGaA, DIC Corporation, hubergroup Deutschland GmbH, Toyo Ink SC Holdings Co., Ltd., Sakata INX Corporation, ALTANA, Wikoff Color Corporation, T&K Toka Co., Ltd, and Zeller+Gmelin GmbH & Co. KG.
Recent developments in the printing inks market include various product launches and strategic partnerships. For instance, hubergroup recently introduced new printing inks solutions. Additionally, Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical Corporation, and Flint Group were some of the major players to announce partnerships in this market.
# # #
Media Contacts: Contact:
Manager – Client Partner
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Note To Editors: New York
Disclaimer: New York
Submitted by Jacob, P&S Market Research on Thursday, 23 November 2017 at 12:47 PM
Category: News & Media
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!
Scoop Line (Instant Information Request) The easiest way to ask questions and request information from the PR community.
Advanced Search Drill down, dig deep, for media information the way you want it.