The global printing inks market is predicted to display a 5.72% CAGR by 2022, according to a report available on Radiant Insights, Inc. Growing requirement for environment-friendly products owing to rising concerns regarding air pollution is anticipated to propel the market over the forecast period (2018 to 2022). Printing inks have low levels of toxic substances that can cause harmful effects on environment and humans.
Rising concerns regarding emission of toxic metals and volatile organic compound (VOC) present in printing inks can fuel market growth in the coming years. Increasing focus on packaging in retail sector to attract consumer can further fuel the expansion of the market. High demand for international shipping of non-consumer products can also augment market growth in the forthcoming years. Adoption of eco-friendly products owing to rising environmental concerns can impel growth of the market during the forecast period. High demand for UV curable inks owing to provision of textured coating and soft-touch coating can fuel market growth during the forecast period.
High Preference for digital publishing can hinder growth of printing inks market in the coming years. In addition, growing number of newspapers focusing on digital subscriptions can also obstruct market growth in the next few years.
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The worldwide printing inks market can be segregated on the basis of product, resin type, application/end-use, and region. Based on product, the market can be classified into flexographic, lithographic, gravure, and digital. The lithographic segment is expected to hold major market share over the forecast period owing to superior properties of the product such as high image quality on smooth and practical surfaces and affordability. On the other hand, digital printing inks is likely to emerge as the fastest growing segment owing to high preference over conventional products.
Based on end-use, the market can be divided into packaging, publishing and commercial printing, and others. Regional segmentation includes North America, Europe, Middle East & Africa (EMEA), Asia Pacific, and Rest of World (ROW). North America is expected to be the leading contributor owing to high demand for commercial printing and flexible packaging in the region. In addition, growing requirement for international shipping among local e-commerce companies is expected to further influence the demand for printing inks in this region during the forecast period.
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The Asia Pacific market for printing inks is anticipated to witness significant growth in the coming years owing to growing urbanization and industrialization in the region. High adoption of e-commerce platforms among young shoppers can fuel regional market growth over the forecast period. Increasing focus on packaging technologies among local vendors to meet consumer expectations is also expected to stimulate growth of market in near future. In Middle East and Africa, Turkey is expected to be the largest market for printing inks.
Some of the leading companies in the global printing inks market are DIC Corporation, Flint Group, SAKATA INX CORPORATION, Siegwerk Druckfarben, and Sun Chemical. Most companies are focusing on research and development activities to introduce advanced products.For instance, Flint Group Narrow Web recently introduced its new UV LED ink system called EkoCure XS for shrink sleeves. The system offers a combination of photo initiators and binders allowing the ink to cross link from top to bottom and cure completely when exposed to UV wavelengths from either LED lamps or mercury. The product can exhibit strong adhesion at high printing speed while using standard 355W/inch mercury lamp.
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