Printing Inks Market to Reach $18.2 Billion
SAN JOSE, CA– Global Industry Analysts Inc. (GIA) has released a comprehensive global report on the printing inks market. The report projects that the global market for printing inks will reach $18.2 billion by the year 2017. Growth is driven by the mounting popularity of environment-friendly inks and technology innovations that are opening up newer growth avenues, including relatively new markets such as UV and inkjet inks. Radiation curing inks and energy-curable ink technology also offer numerous opportunities, thereby pepping up industry growth prospects.
Printing inks is an industry that embodies the strength of the global as well as regional economies. With high correlation to a country’s GDP, the printing inks industry is cyclical in nature, with economic ups and downs amplifying the demand patterns. The business of printing inks involves development of products as per application and customer needs. Partly dented by the recent global meltdown, and soaring raw materials prices, the global printing inks industry is projected to grow moderately over the near term. The industry continues to face severe pricing pressures, arising from spiking raw material costs, a scenario that is expected to continue over the near future. The market is also witnessing a transition towards high-value digital and energy-cured inks. Packaging and commercial publishing and printing comprise the largest end-use industries in the printing inks market.
As stated by the new market research report, the United States continues to remain the single largest regional market, in terms of volume as well as value sales. The European market is driven by rising sales of UV as well as free radical and cationic inks. Although dominated by the developed economies, emerging trends in the developing countries are triggering growth in the global printing inks market. Energy-curable ink systems continue to unlock newer applications in the European and Asian markets. Further, rising demand for sleek magazine and catalog covers is driving the use of radiation curing inks in the publishing sector. Asia-Pacific, particularly China and India, represent the fastest-growing printing inks markets. Asia-Pacific is projected to exhibit the fastest CAGR of 5.5 percent over the analysis period. Publication and commercial printing is a growing business in Asia, fuelled by developing markets such as China and India. The opening up of these economies has ushered in ample opportunities for demand expansion.
Technological advancements have revolutionized the inks industry, with printing presses making use of faster and highly automated equipment. Environment-friendly inks such as vegetable oil-based inks and water-based inks are gaining popularity, given the growing concerns over ecological pollution. Lithographic inks represent the largest segment in the market. Benefits of lithographic printing over other processes exert a positive influence on the lithographic inks market. Digital ink is rapidly gaining popularity, with compounded dollar gains grooming the market into a lucrative segment with profitable opportunities. Rotogravure, screen, letterpress and other specialty printing inks represent other rapidly growing segments, which together hold bright prospects for market participants. The digital inks segment is forecast to register the fastest CAGR of 3.7 percent over the analysis period. Improvement in screen-printing technology, increased usage of computers by companies (both small and large scale), and establishment of internal graphics departments facilitating professional-quality, in-house printing have contributed to growing demand for digital inks. Advances in digital printing combined with the tremendous expansion of inkjet printing are likely to spur the digital inks segment.
The research report, titled "Printing Inks: A Global Strategic Business Report," provides a comprehensive review of trends, issues, strategic industry activities and profiles of major companies worldwide. For additional information, visit www.strategyr.com/Printing_Inks_Market_Report.asp.