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Printing Inks Global Market Report 2021: COVID 19 Impact and Recovery to 2030

·4-min read

Major companies in the printing inks market include DIC Corporation; Flint Group; Toyo Ink S. C. Holdings; Sakata Inx and Siegwerk Druckfarben. The global printing inks market is expected to grow from $35.

New York, Feb. 03, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Printing Inks Global Market Report 2021: COVID 19 Impact and Recovery to 2030" -
58 billion in 2020 to $37.01 billion in 2021 at a compound annual growth rate (CAGR) of 4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $42.21 billion in 2025 at a CAGR of 3%.

The printing inks market consists of sales of printing inks by entities (organizations, sole traders or partnerships) that manufacture printing and inkjet inks. Printing inks are liquids that contain pigments or dyes, which are used to produce images, text and designs. They are widely used in letterpress and lithographic printing. Printing inks consist of a pigment or pigments of the required color mixed with oil or varnish. For example, a black ink made from carbon blacks is mixed with thick linseed oil or a similar oil, often with rosin oil to which rosin varnish is added. Inkjet inks consist of a base carrier such as water, oil or a solvent, and colorants such as dyes or pigments and small amounts of chemical additives to provide some unique characteristics. There are two types of inkjet inks – dye-based inks and pigment-based inks. The printing inks market is segmented into oil-based printing inks; solvent-based printing inks and water-based printing inks.

Western Europe was the largest region in the global printing inks market, accounting for 30% of the market in 2020. Asia Pacific was the second largest region accounting for 25% of the global printing inks market. Africa was the smallest region in the global printing inks market.

The printing inks market witnessed consolidation with a significant number of mergers and acquisitions. Top companies in the printing inks market are strategically acquiring and merging with start-ups and mid-sized companies to broaden their products and services range or to enter emerging regions. For instance, in 2017 and 2018, Siegwerk Group acquired Agfa’s UV inkjet ink division as well as Tupahue Tintas, a Brazilian flexo and gravure ink manufacturer, and Van Son Liquids B.V., a Netherlands-based producer of water-based flexo and gravure printing inks.

A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the printing inks market. Printing ink companies globally are suffering from a shortage of raw materials, including resins, monomers, photo initiators, oligomers, and additives. This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution. China is dominant in printing inks raw materials supplies due to the presence of strong refinery capacity and associated chemicals manufacturing ecosystem. Market players have already started facing challenges due to shortages of raw materials. For instance, in May 2018, Sun Chemical, a global printing ink manufacturer, faced disruptions in its printing inks supply due to global raw material shortage resulting from ongoing environmental regulatory compliance inspections in Chinese raw material plants and factories. Again, in July 2018, printing ink manufacturer Hubergroup announced an increase in prices for all energy curing inks and varnishes across Europe and the Americas with immediate effect due to shortages of raw materials.

3D technology will be a driver of the printing inks market during the forecast period. With a rise in worldwide interest in 3D printing technology from consumers, researchers, and industrial production, there is expected to be a high demand for 3D printing inks. Unlike 2D inks which are intended for the fabrication of planar surfaces, 3D inks are intended for the fabrication of volumetric constructs and devices. In April 2018, researchers at Dartmouth College developed a smart ink that turns 3D-printed structures into objects that can change shape and color. The ink aims to add even more functionality to 3D printing. Similarly, in June 2018, scientists at the Georgia Institute of Technology, Atlanta, developed a novel ink, which, when combined with a new method of printing and with varying lighting, hardens with the 3D printing object.
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