Printing Ink Market worth $28.6 billion by 2028

CHICAGO, Aug. 28, 2023 /PRNewswire/ -- The report "Printing Ink Market by Type (Nitrocellulose, Polyurethane, Water based, Acrylic, UV Curable), Process (Gravure, Flexographic, Lithographic, Digital), Application (Cardboards, Flexible Packaging, Tags & Labels, Cartons), & Region - Global Forecasts to 2028", is estimated at USD 19.0 billion in 2022 and is projected to reach USD 28.6 billion by 2028, at a CAGR of 7.0% from 2023 to 2028. The growth of the market is being driven by a few factors, including the growing demand for flexible packaging, the increasing demand for digital printing, the growing demand for sustainable printing inks, and the growth of the electronics industry. The growing demand for flexible packaging is being driven by the increasing popularity of online shopping and the need for packaging that is both durable and attractive. Digital printing is becoming increasingly popular due to its ability to produce high-quality prints on a variety of materials. Sustainable printing inks are becoming more popular due to growing concerns about the environmental impact of traditional printing inks. The electronics industry is a major user of printing inks, and the growth of this industry is driving the demand for printing inks.

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Polyurethane type segment is expected to account for the third largest market share in 2022.

The demand for polyurethane printing inks is experiencing notable growth due to their unique properties. Polyurethane inks, which are formulated using polyurethane resins, offer exceptional adhesion to a wide range of substrates, including plastics, metals, fabrics, and leather. Their flexibility and elasticity make them particularly well-suited for applications requiring durability and resistance to abrasion, bending, and stretching. This has led to their increasing use in industries like textiles, automotive, electronics, and packaging. Additionally, polyurethane inks are valued for their ability to create tactile and three-dimensional effects, enhancing the visual and tactile appeal of printed materials. As sustainability gains importance, manufacturers are also exploring water-based polyurethane inks that have lower VOC emissions and reduced environmental impact. With their combination of adhesion, flexibility, durability, and creative potential, polyurethane printing inks are carving out a significant presence in the market, meeting the evolving demands of industries seeking both performance and aesthetics in their printed products.

Digital process segment is expected to register second highest CAGR during forecasted period

Flexographic process segment is expected to grow at a significant pace over the forecast period owing to its wide applications. Flexo print inks allow prints upon a range of materials at a low cost. It is designed to print strong cardboard boxes, paper bundles, folded cartons, plastic bags, dairy and beverages boxes, disposable utensils and cartons, labels, bonding adhesives, postcards, newsprint, and local supermarket packaging.

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Middle East and Africa region is expected to register second highest CAGR in terms of value during forecasted period

The printing ink market has been studied in North America, Europe, Asia Pacific, South America and Middle East and Africa. The growing demand for packaged goods due to the COVID-19 pandemic has boosted the Middle East print inks industry and is expected to grow over the forecast period. Consumers prefer packaged commodities over loose products because of their inherent security. This opens up new potential for the whole FMCG value chain, including the print inks business in the Middle East and Africa region. Saudi Arabia dominated the Middle East and Africa printing ink market in 2022 and is expected to maintain its dominance over the forecast period. Increasing demand for packaging ink from the food & beverage industry, along with the presence of broad food & beverage companies in the country, is expected to fuel the country's growth over the forecast period.

Prominent companies include DIC Corporation (Japan), Toyo Ink SC Holdings Co., Ltd. (Japan), T&K TOKA CORPORATION (Japan), Tokyo Printing Ink Mfg. Co., Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Yip's Chemical Holdings Limited (Hong Kong), Sakata Inx Corporation (Japan), Dainichiseika Color & Chemicals Mfg. Co., Ltd. (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Hubergroup (Germany), Flint Group (Luxembourg), SICPA Holding SA (Switzerland), Wikoff Color Corporation (US), ALTANA (Germany), and DEERS i Co., LTD. (South Korea) among others.

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