Published on: May 2022
Uncovering the market overview of Printing Ink on a global scale
The global printing inks market was assessed at USD 19.2 billion in 2020, with a compound annual growth rate (CAGR) of 2.8 percent predicted from 2021 to 2028. Over the forecast period, the business is expected to increase at a modest pace. This market has been fueled by factors such as the rising end-use industry, which includes adaptable packaging, commercial printing and publishing, and package labels. The superior properties of constituents such as colorants, binders, solubilizers, and additives to generate text, architecture, or images, as well as growing demands from the packaging industry, commercial printing, and changing consumer preferences, are expected to keep these solutions in high demand for the foreseeable future.
Organic Growth versus Paid Growth
To boost efficiency, promote growth, and gain greater power with suppliers and consumers, the worldwide printing inks industry is seeing major consolidations. With low organic growth, market consolidation has been a long-term trend, notably in the western market. However, due to the slow growth in product pricing caused by severe rivalry within the sector, downward pricing pressure is projected to hinder revenue growth in the printing inks market. Furthermore, strict regulatory frameworks such as the Federal Food, Drug, and Cosmetic Act and the United States Food and Drug Administration restrict the use, manufacture, and sale of numerous inorganic solvents and hazardous metals. As a result, market growth is likely to be hampered over the projection period. Apart from crude oil derivatives and inorganic pigments, which are important raw materials, the development of cost-effective and non-toxic raw materials such graphene, carbon, and modified celluloid is a top research priority. Advancements in technology and methods, such as ink-jet products and digital printing, have a significant impact on and drive this market.
Scalable market share of Printing Ink in the international business
In 2020, Asia Pacific dominated the global printing inks market with a 35.39 percent share and a market value of over USD 6 billion. The marketplace Demand from end-use industries is expected to be robust in emerging regions such as Asia Pacific. Over the projected period, Brazil, Southeast Asia along with China, and India are expected to lead their respective regional markets. Packaging and labels dominated the resin market in 2020, accounting for more than 47.0 percent of the total. Other emerging APAC nations that have seen healthy growth in the industry include India, Vietnam, Thailand, and Indonesia. North America is the second-largest regional market, with the United States leading the way thanks to a thriving packaging industry and abundant resin supply.
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