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.