Printing Inks Market Size Worth USD 24.77 Billion in 2032 | Emergen Research

Rising demand from the textile and ceramic tile printing industries, increasing adoption of printing inks from the packaging industry, rising advancements in new ink resin technologies, and rising demand for paper media and colored printing are expected to drive Printing Inks market revenue growth

Vancouver, Jan. 10, 2024 (GLOBE NEWSWIRE) — The global printing inks market size was USD 19.12 Billion in 2022 and is expected to register a revenue CAGR of 2.7% during the forecast period. Rising demand from the textile and ceramic tile printing industries, increasing adoption of printing inks from the packaging industry, rising advancements in new ink resin technologies, and rising demand for paper media and colored printing are expected to drive market revenue growth.

The global demand for printing inks is growing rapidly due to the rising popularity of textile and ceramic tile printing. The demand for textile printing is expected to surge over the next ten years, with the demand for digital printing expected to rise 7.2% every year until 2023. Most of this demand will be driven by digital printing in printing applications, particularly in textiles and ceramic printing.

Consequently, manufacturers in the printing inks market are witnessing a substantial uptick in orders and sales volumes, as they play a pivotal role in meeting the rapidly inclining demand for packaging industries. In July 2023, Koenig & Bauer entered into a collaborative agreement with the printing ink expert Hubergroup Print Solutions, establishing a partnership focused on conventional printing inks designed specifically for Rapida sheetfed offset presses. Rigorous testing of hubergroup’s printing inks was undertaken before finalizing the agreement. These inks were fine-tuned for optimal performance in high-speed printing on Rapida presses, and their continual application in the Koenig & Bauer CEC undergoes regular quality monitoring procedures.

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The complex and resource-intensive manufacturing process involves raw material selection and pigment dispersion, requiring advanced technology, specialized equipment, and skilled labor, all of which contribute to higher operational expenses. Stringent quality control measures further increase production costs. This prompts potential buyers to explore more cost-effective alternatives, which could restrain revenue growth of the global printing inks market.

Segment Insights

Process Insights:

On the basis of process, the global printing inks market is segmented into gravure inks flexographic inks, lithographic inks, digital inks, and others.  Lithographic printing inks segment accounted for largest revenue share in the global printing inks market in 2022 due to rising demand for this segment in high quality graphics, photographs and packaging materials. Lithographic printing inks generate a range of colors and shades during operation, and printing inks is particularly effective in distributing these shades, ensuring optimal designs and glossiness.

Resin Insights:

On the basis of resin, the global printing inks market is segmented into modified resin, modified cellulose, acrylic, polyrethane and others. Polyrethane segment accounted for largest revenue share in the global printing inks market in 2022 due to increasing use of this resin to produce printing inks owing to its capability for production of 3D printing. Polyrethane resin offers the potential for increased production yields and cost savings over the long term, making it an attractive option for manufacturers seeking both versatile and durable printing advantages.

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Regional Insights:

North America is expected to register a fast market growth rate during the forecast period due to the growing demand for commercial printing industries in countries across the region especially in U.S. and Canada. The printing industry holds the 152nd position among the largest manufacturing sectors in the United States. California is at the forefront, boasting the highest concentration of printing businesses, with over 2,900 establishments. Following closely, Texas and Florida have 1,600 and 1,480 printing businesses, respectively. North America recorded the second-highest revenue in the commercial printing sector in 2022, accounting for more than 33% of global revenue. At the same time, U.S. printing industry profits fell about 2. 6% per year from 2017 to 2022. The industry still earned USD 85. 8 billion in 2022. Commercial printing generated USD 77. 7 billion in the United States in 2021.

Europe is expected to register a moderately fast market growth rate during the forecast period due to rising demand for digital printing industry in countries across the region especially in U.K., Germany, and France owing to the rapid expansion of printing industry. Heidelberg, known as the City of Science in Germany, is set to host Europe’s biggest 3D-printed structure — the data center and cloud facility for managing IT in Heidelberg. Construction on this groundbreaking project begins in March 31 2023, and is expected to be completed by the end of 2023. 3D printing expertise for this joint venture is provided by PERI 3D Construction, the company uses COBOD’s BOD2 construction printer, based in Denmark, to form the walls of the building. PERI takes advantage of the technology’s fast printing capabilities and aims to complete walls in just 140 hours, using exclusively 100% recycled materials. This equates to an impressive printing speed of 4 square meters per hour.

Scope of Research

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Major Companies and Competitive Landscape

The global printing inks market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective printing inks. Some of the major companies included in the global printing inks market report are:

• DIC Corporation
• Tokyo Ink SC Holdings Co. Ltd
• Flint Group
• Siegwek Druckfarben AG & Co. KGaS
• Hubergroup
• Avreon Chemicals
• Altana
• Mallard Ink Co. and Offset Blanket Co. Inc
• Inknovators
• Royal Dutch Printing Ink Factories Van Son
• Sun Chemical
• Zeller + Gmelin
• INX International Ink Co.
• Gardiner Colours Limited
• Wikoff Color Corporation
• T&K TOKA Corporation
• Kohinoor Printing Ink Co.
• FujiFilm Corporation

Strategic Development

• On 22 March 2023, Domestic manufacturer of printing inks, innovative packaging solutions, and related materials, DIC India Limited, part of the DIC Group, a global leader in printing inks and packaging, inaugurated Optima’s toluene-free plant for manufacturing liquid inks at Saykha in Bharuch district, Gujarat. Spread over an area of ​​92,500 m2, the factory has a production capacity of more than 10,000 tons of TF, KF/NTNK liquid inks (toluene-free/ketone-free) in two shifts in phase I. The factory will continue to expand production of value-added products, specialized for domestic and export markets.

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For the purpose of this report, Emergen Research has segmented global printing inks market on the basis of process, resin, product, application, and region:

• Process Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Gravure inks
  • Flexographic Inks
  • Lithographic Inks
  • Digital Inks
  • Others
• Resin Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Modified Resin
  • Modified Cellulose
  • Acrylic
  • Polyrethane
  • Others
• Product Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Solvent Based
  • Water Based
  • Oil Based
  • UV-Cured Based
• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
  • Packaging and Labels
  • Corrugated Cardboards
  • Commercial Printing
  • Others
• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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