The Global Printing Inks/Packaging Inks Market is Expected to reach USD 14,605.39 Million by 2028, Growing with a CAGR of 6.7% from 2021 to 2028

To transfer and reproduce an image from a printing surface, printing inks are colored liquids and pastes. Printing inks ensure a decorative image, carry the message, and offer protection to the substrate. Additionally, these inks are made up of dye solutions and dispersions of insoluble colorants in a varnish or other vehicle. Numerous printing techniques, including lithography, rotogravure, flexography, and digital printing—the most recent technique with the greatest growth potential—also distinguish these inks. The reputation of the company's technical support staff and high-quality goods is the foundation of the printing inks sector.  ​

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The global printing inks/packaging inks market is expected to reach USD 14,605.39 million by 2028 from USD 8,875.00 million in 2020, growing with a CAGR of 6.7% in the forecast period of 2021 to 2028. The rising demand for packaging ink in the food industry acts as a driver in the global printing inks/packaging inks market. Increasing environmental concerns in the market prove to be a challenge. However, advancements in products and technology are expected to provide opportunities for the global printing inks/packaging inks market. Government regulations on the production of the inks restrain the market.      

Increasing demand for digital printing across the world will drive the market's growth rate

Digital printing methods are used to provide cost-effective, accurate, and short-run color printing within a short time frame. It helps to print high-quality graphics on substrates such as plastic films, fabrics, release liners, and other materials to make packaging more appealing. These printers may also change colours, text, and graphics to satisfy customers' needs for numerous languages, regional preferences, or targeted marketing. The demand for digital printing is increasing rapidly due to rapid adoption of laser and inkjet printing solutions across the packaging and paper sector. Also, due to the adaptation of IoT and AI-based technologies, its demand in the market is rising. Thus, as the demand for digital printing is increasing in the market, the demand for printing ink is also expected to rise.

Report Scope and Market Segmentation

Segment Analysis:

Global Printing inks/packaging inks market is segmented into five notable segments, which are based on the technology, type, resin, substrate and application.

• On the basis of technology, the global printing inks/packaging inks market is segmented into solvent based, oil based, water based, UV curable, LED curable, EB curable and others. In 2021, solvent based segment is expected to dominate the global Printing inks/packaging inks market with 26.69% market share as it is more durable and can be applied to other materials such as uncoated vinyl and PVC, as well as paper, canvas and other synthetic films.
• On the basis of type, the global Printing inks/packaging inks market has been segmented into flexo inks, offset inks, gravure inks, jet inks, metal decorative inks, security inks and others. In 2021, the flexo inks segment is anticipated to dominate the global Printing inks/packaging inks market with 25.37% market share as it is a strong choice for volume production and fast turnaround requirements. Ink costs & material costs are relatively low, with no special coatings required rising its demand in the market.
• On the basis of resin, the global Printing inks/packaging inks market has been segmented into polyurethane, acrylic, vinyl, polyamide, polyketone, nitrocellulose and others. In 2021, polyamide is expected to dominate the global printing inks/packaging inks market with 28.03% market share as it is mostly used for flexible packaging & reverse printings and is highly suitable for flexographic and gravure inks and laminating inks.
• On the basis of substrate, the global printing inks/packaging inks market has been segmented into paper and board, polyethylene, aluminum, polyvinyl chloride, polypropylene, polyvinyl acetate, polyolefin, cellophane, polyester, nylon and others. In 2021, the paper and board is expected to dominate the global Printing inks/packaging inks market with 18.79% market share as it can be manufactured in all shapes and sizes using recycled materials and can be easily used for packaging.

The paper and board segment will dominate the substrate segment of the printing inks/packaging inks market

The paper and board segment will emerge as the dominating segment under substrate segment in 2021. This is because of the growing number of activities and operations involving the application of paper and board in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of application, the global printing inks/packaging inks market is segmented into food packaging, wall paper, corrugated and soil board, panels, labels, laminates, carrier bags, aluminum foils, shrink wrap films, envelopes, paper synthetic films, wrapping paper heavy duty sacks, deep freeze packaging, hygiene packaging, flower wrap and others. In 2021, the food packaging segment is anticipated to dominate the global Printing inks/packaging inks market with 11.09% market share as packaging ink help to mark date coding and traceability information on food packaging which is use to track individual units as well as batches of product, quality control, and aiding in the sale of the products.    

The food packaging will dominate the application segment of the printing inks/packaging inks market

The food packaging will emerge as the dominating segment under application in 2021 with approximately 45% market share. This is because of the growing number of infrastructural development activities and store based retailers in the market especially in the developing economies. Further, growth and expansion of the materials and packaging industry all around the globe will further bolster the growth of this segment.

Major Players

Data Bridge Market Research recognizes the following companies as the market players in printing inks/packaging inks market: DIC CORPORATION (Japan), SAKATA INX CORPORATION (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), TOYO INK SC HOLDINGS CO., LTD. (Japan), hubergroup Deutschland GmbH (Germany), Flint Group (Luxembourg), Kao Collins Corporation (U.S.), SICPA HOLDING SA (Switzerland), T&K TOKA Corporation (Japan), and TOKYO PRINTING INK MFG CO.,LTD (Japan).

Market Development

• In February 2021, Toyo Printing Inks, Inc., a subsidiary of TOYO INK SC HOLDINGS CO., LTD. announced the release of the LP-9000 Toyo Life Premium Food LO/LM, a new series of sheetfed offset inks with low odour and low migration characteristics. The LP-9000 LO/LM product is suitable for printed packages for food, cosmetics, pharmaceutical, and other sensitive applications. It has been specially formulated for printing on the non-food contact surface of paper and cardboard media. With this, the company has delivered innovative food packaging solutions through advanced science to the customers.
• In July 2020, SAKATA INX CORPORATION collaborated on industrial inkjet projects worldwide with Global Inkjet Systems (GIS). The companies has worked together where SAKATA INX will provide access to large end users and major OEMs, while GIS will provide complete workflow solutions for industrial inkjet applications. With this, the company can provide digital printing solutions to their customer.

Regional Analysis

Geographically, the countries covered in the printing inks/packaging inks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in printing inks/packaging inks market during the forecast period 2021 - 2028

The market is dominated by Asia Pacific, which in 2021 had the biggest revenue share. In 2021, Asia Pacific dominated the worldwide printing inks market, and it is anticipated that it will do so again throughout the forecast period. The region's market growth has been influenced favorably by rising packaged food consumption and the packaging and labeling industry's rapid expansion due to the emergence of numerous businesses, including the food & beverage industry, consumer goods industry, health care sector, and e-commerce.

Europe is estimated to be the fastest growing region in printing inks/packaging inks market the forecast period 2021 - 2028

However, Europe is anticipated to have the greatest CAGR during the forecast period. This is due to rising packaged food consumption and the packaging and labeling industry's rapid expansion due to the emergence of numerous businesses.

COVID-19 Impact

The COVID-19 effect in 2020 resulted in the closure of numerous manufacturing facilities and a decrease in packaging demand. This had an impact on the packaging industry's use of printing inks. However, the food and beverage business began to rebound and has had a favorable effect. The manufacturing sector was amidst a recovery process in 2021, and the manufacturers overcame the numerous difficulties the epidemic brought forth.

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