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Printing Inks Market Segmented By Solvent-Based, Water-Based, Oil-Based Formulation with Lithographic Inks, Flexographic Inks, Gravure Inks, Digital inks, Letterpress Inks Product
The global printing inks market is estimated to be valued at nearly US$ 18,000 Mn in the year 2017 and is projected to be valued at about US$ 27,500 Mn at the end of the year 2025, registering a CAGR of 5.5% during the period of assessment.
In terms of volume, the global printing inks market is estimated to be pegged at nearly 5,150 KT in the year 2017 and is projected to touch a figure of nearly 7,500 KT at the end of the year 2025, registering a CAGR of 4.7% during the forecast period.
China dominates the global printing inks market in terms of consumption of printing inks. In the year 2016, the country dominated the overall consumption in the APAC region with a considerable market share of 35.8%.
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Due to the rapid economic growth in Asia Pacific and the corresponding growth in population, the demand for packaging inks is expected to soar in the region. There is a huge demand for inks for paper media and packaging in the region, especially in rapidly developing economies such as India, China and Vietnam, and these countries are particularly strong growth areas for printing in the Asia Pacific region.
In addition, it is forecasted that the publishing printing sector will be partially driven by improving economic conditions, a growing rate of urbanization and rise in the education levels across the region. Consequently, there is sharp increase in the demand for publishing print products such as books, newspapers and magazines.
Moreover, owing to a growing middle class in the region, the market demand for educational, professional, business and technical printed materials has risen in the region.
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Get a Customized VersionPrinting inks are used in the packaging of e-commerce products and a growth in the e-commerce industry will subsequently lead to a growth in demand for printing inks. In the Asia Pacific region, e-commerce is a largely preferred retail format especially among the young shoppers who are inclined towards online shopping through their smartphones.
E-commerce and m-commerce have witnessed a rapid proliferation across the Asia Pacific and this has augmented the need for e-commerce packaging. Vendors operating in the Asia Pacific regional market are aligning their businesses with the current market expectations and are bringing in greater innovation and enhanced quality in the packaging of their products to meet customer expectations.
A growth in the e-commerce packaging industry across the Asia Pacific is expected to significantly boost revenue growth of the printing inks market in the region.
Among the various application segments in the printing inks market, the label and packaging segment is estimated to be valued at nearly US$ 8,300 Mn in the year 2017 and is forecasted to be valued at about US$ 12,700 Mn in the year 2025, exhibiting a CAGR of 5.3% during the period of assessment.
In terms of volume, the label and packaging segment is estimated to be pegged at 2,352 KT in the year 2017 and is forecasted to reach 3,420 KT in the year 2025, exhibiting a CAGR of 4.6% during the period of assessment.
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