Printing Inks Market to Cross USD43090.6 Mn by 2031 Due to the Increasing Demand from Packaging Industry
01 April 2023: According to Transparency Market Research, the global printing inks market was estimated to reach a global market valuation of USD 24,306.4 Mn in the year 2020. With a steadily expanding CAGR of 5.4% during the forecast period of 2021 to 2031, the market is anticipated to reach USD 43,090.6 Mn by 2031.
Major consolidations are being planned for the printing inks industry globally to boost productivity, enhance growth, and gain more negotiating power with suppliers and clients. Market consolidation has been a long-term trend, notably in the western region, with minimal organic growth.
Market Snapshot:
- Market Revenue: USD 24,306.4 Mn in 2020
- Estimated Value: USD 43,090.6 Mn by 2031
- Growth Rate: CAGR 5.4%
- Forecast Period: 2021–2031
- No. of Pages: 106 Pages
- Market Segmentation: By Product, Process, and Application
- Regions Covered: North America, Europe, Asia Pacific, Middle East & Africa, South America
- Format: Electronic (PDF) + Excel
Improvements in food processing technology in the United States and Europe are anticipated to accelerate the expansion of the packaged food business. In consequence, it is predicted that this will increase demand for flexible packaging during the forecast period. The booming need for energy-curing pigments in the printing & packaging industries is another important reason driving the global printing inks market expansion. UV-cured inks, solvent-UV hybrid inks, latex (resin) inks, and solid inks are some examples of energy-curing inks. Due to their exceptional qualities, zero or low volatile organic content (VOC) and expanding application range, these inks are popular on a global scale.
Key Findings of the Market Report:
- Global market for printing inks is expected to garner a 5.4% CAGR from 2021 to 2031
- In 2020, Asia Pacific was estimated to occupy the dominant market share
- Demand for various packaging and increase in production will be primary drivers of the market
- Printing Inks Market Trends
Gravure printing inks are typically used for picture printing, although they may also be used on films, metal foils, thin papers, and paper cups. This method employs “liquid inks.” Owing to the versatility of this ink technology, such print processes may cover a wide range of applications in tobacco goods, food packaging, and cosmetics on a wide range of substrates like cardboard, plastics, papers, foils, as well as labels.
On a variety of substrates, including paper, films, laminates, foils, as well as corrugated cardboard, flexographic inks can be used. Due to their affordability and eco-friendliness, these inks are predicted to rise significantly throughout the projected period. Additionally, the requirement for flexographic ink in the United States and other European nations is aided by the rising need for flexible packaging along with cardboard printing following logistical volume.
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