Rise in Packaging Industry Pushes Global Printing Inks Market to Witness New Highs: MRRSE
Albany, NY, Aug. 23, 2016 (GLOBE NEWSWIRE) — The primary growth driver for the global printing inks market, as per the report, is the increasing focus on manufacture and demand of flexible packaging. This segment is witnessing a high growth rate, and the packaging industry being the largest end-user of printing inks, has created a major scope for the growth of this market.
On the basis of type of products, the report divides the global printing inks market into water-based, oil-based, and solvent-based printing inks, along with other minor segments. Of these, the global printing inks market was led collectively by solvent-based and oil-based printing inks. The future of the global printing inks market, however, lies in the growth of the water-based printing inks segment, according to the report. This spike in demand for water-based inks is caused by a growing concern over the harmful effects of the other types of printing inks.
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The report includes a detailed value chain analysis, which provides a comprehensive view of the global printing inks market. Analysis of Porter’s five forces model for the printing inks market has also been covered to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness.
The study provides a decisive view of the global printing inks market by segmenting it in terms of product, process and applications. All the three segments have been analyzed based on present and future trends. The global printing inks market has been estimated from 2014 to 2020.
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Geographically, the global printing inks market has been segmented into regions such as North America, Europe, Asia Pacific and Rest of the World (RoW). North America was the largest regional market for printing inks, constituting over 30% share in 2013. Increasing demand for printing inks in the packaging industry, especially flexible packaging, is projected to drive the printing inks market in North America in the next few years. Asia Pacific is estimated to be the fastest growing region in the global printing Inks market during the forecast period. Higher demand for printing inks in developing countries in Asia, such as China and India, is likely to boost the printing Inks market in Asia Pacific in the next few years. The printing inks market in Europe is projected to expand moderately in the next six years, due to steady recovery of the economy in the region.
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Increasing demand for printing inks in rapidly growing application segments such as packaging and commercial printing is anticipated to propel the global printing inks market in the next few years. Higher mass production of UV-cured printing inks and water-based printing inks is projected to offer significant opportunities to the printing inks market, especially in food & beverage, packaging and other end-user industries, in the next six years. However, fluctuation in prices of raw materials coupled with several environmental regulations on solvent-based printing inks and wide acceptance of e-books and e-commerce is likely to hamper market growth during the forecast period. Major manufacturers of printing inks include Sun Chemical Corporation, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, TOYO Ink Group, Sakata INX Corporation, ALTANA AG, Huber Group, T&K TOKA Corporation, Wikoff Color Corporation, Zeller+Gmelin GmbH & Co. KG and Royal Dutch Printing Ink Factories Van Son.
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