Ink Market to Expand at a CAGR of 3.3% from 2022 to 2031, TMR Report

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Jun 21, 2022, 09:30 ET

Companies expanding portfolio of lithographic inks to meet wide spectrum of printing applications; need for advanced formulations to expand avenue in ink market
Expansion of commercial printing industry propelling utilization of various inks, boosting sales revenues of inks in various regions; lucrative demand from packaging sector in North America and Europe to generate sizable revenues

ALBANY, N.Y., June 21, 2022 /PRNewswire/ -- The streams of revenue of ink market have been growing on back of extensive utilization of ink formulations for a variety of printing applications notably in the packaging and construction industries. Abundant demand for printing inks in the packaging application is one of the key market segments in ink. The global ink market is projected to exceed US$ 24.1 Bn by the end of 2031, notes an in-depth study by analysts of TMR.

Oil-based inks held the major share of the global ink market. During the forecast period, the widespread uptake of these in various applications are expected to account for largest opportunity for ink market, as the authors of the TMR study have found. The popularity stemmed from the ease of availability and compatibility with different surfaces in print media applications. Rise in demand for inks in the publication industry will steer the revenue gains.

Massive uptake of flexographic inks in the packaging sector over the years have expanded the lucrative avenue for players in the ink market. Of note, lithographic inks have gained immense popularity with packaging industry, mainly in account of the attributes of supporting high-speed printing, versatility in use, and low cost and clarity. Additionally, the growing awareness of the benefits of lithographic printing has spurred the use of the inks, thus propelling the revenue growth.

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Key Findings of Ink Market Study

Steady Demand for Printing Inks in Packaging Industry Underpins Enormous Revenues: Substantial utilization of inks in rigid and flexible packaging industries is spurring the revenue prospects of the ink market. Inks are extensively used for product labelling and have become crucial way to connect with customers or users by offering them information about the ingredient list, shelf life, and nutritional value. Hence, most of the inks used in the food & beverage packaging need to be safe in terms of safety with food contact. The printing ink held a major share of the global ink market in 2021. Increase in use of UV-cured ink, water-based ink, and solvent-based ink in various applications has also boosted the valuation of the ink market.
Rising Utilization of lithographic Inks Propelling Revenue Growth: Utilization of lithographic inks for the packaging sector is a key trend that has generated vast revenue potential. These are gathering adoption in different types of packaging materials, such as corrugated packaging. Advancements in lithographic printing are expected to open up new avenues in the ink market.

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Ink Market: Key Drivers

Strides being made by the printing industry is a key underpinning for the expansion of the ink market. A case in point is the ebullient prospects of inks for flexographic printing projects.
Rise in R&D on inks to meet the various requirements of packaging sector is a key driver for lucrative opportunities in the ink market. The use of various packaging materials and the changing printing requirements are shaping the demand dynamics of the ink market.

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Ink Market: Regional Growth Dynamics

Asia Pacific held a major share of the global ink market in 2021. Enormous uptake of products in the food & beverage and personal care industries notably for printing application has propelled the revenue streams for companies in the Asia Pacific ink market. Massive demand for inks in commercial printing sector will open up profitable avenues in the near future.
North America has been a lucrative region in the ink market. In part, this is due to the massive demand for inks in the packaging industry. Furthermore, globally prominent firms in the ink market are expected to come out with novel formulations, expanding the horizon in the North America ink market.

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Ink Market: Key Players

Some of the key players in the ink market are SICPA Holding SA, Kao Collins Corporation, Eternal Ink, Inc., Intenze Tattoo Ink, DIC Corporation, Nutec Digital Ink, Marabu GmbH & Co. KG, Sakata INX Corporation, T&K Toka Co., Ltd., Huber Group, Wikoff Color Corporation, and Flint Group.

Global Ink Market Segmentation

Type

Printing Ink
Non-printing Ink

Formulating Technology

Oil-based
Water-based
Solvent based
UV-cured
Others

Application

Packaging
Publication Commercial
Security
Ceramic Tiles
Tags & Labels
Textiles
Consumer

Regions

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Countries Covered

U.S.
Canada
Germany
U.K.
France
Spain
Italy
Russia & CIS
Japan
China
India
ASEAN
Brazil
Mexico
GCC Countries
South Africa

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