Global printing ink market is estimated to witness considerable growth in the years to come due to increasing application from various sectors, especially packaging industry. Printing ink is the pigment or dye that is used to color an image, design, or a surface. It is widely used in the form of paste or thick inks in lithographic printing and letterpress. Printing ink has wide applications medical, architecture, apparels, furniture, housings, functional inks & coatings and automotive.
The drivers of printing ink market comprise explosive demand from packaging and paper media industry from emerging economies like China and India, growth in urbanization and increase in education levels in these regions. Additionally, rise in digital printed books, upgrades in the fashion sector, increase in demand for various publishing print products like newspaper, books and magazines are also fueling the growth of the market. However, market faces restraints due to high cost of printing inks.
Increase in demand for printed electronics, textile printing in packaging sector is an emerging trend witnessed in the market. Moreover, increase in printed electronics due to developing electronic industry is expected to offer opportunities in the market.
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Market is categorized on the basis of type, end user, application, and geography. On the basis of type, market is divided into flexographic, gravure, lithographic and digital. Digital printing segment is expected to register significant share of printing ink market owing to the speedy inclination towards modern digital methods.
In terms of application, market is split into gravure printing inks, digital printing inks, screen printing inks, offset printing inks, specialty inks, and flexographic printing inks. Digital printing ink segment registers maximum growth owing to the increase in demand for digital printing techniques.
Based on end user, market is bifurcated into packaging, publication, decorative printing, and commercial printing. Packaging segment is predicted to hold larger share of the market owing to the proliferation of ecommerce industry due to increase in use of labels and tags and incomparable growth in consumerism.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America, followed by Europe are predicted to hold significant share of the printing ink market due to proliferation in commercial printing sector and flexible packaging. The major players in printing ink market comprise GL Specialized Inks (Pty) Ltd., Hi-Tech Inks (Pty) Ltd., Africa Inks (Pty) Limited, Constantia Printing Inks, Select Inks, Millian Inks, NUtec Digital Ink (Pty) Ltd., Hostmann-Steinberg South Africa (Pty) Ltd., and Flint Group South Africa Ltd.
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