Asia-Pacific Printing Inks/Packaging Inks Market, By Technology (Solvent Based, Oil Based, Water Based, UV Curable, LED Curable, EB Curable and Others), Type (Flexo Inks, Offset Inks, Gravure Inks, Jet Inks, Metal Decorative Inks, Security Inks, and Others), Resin (Polyurethane, Acrylic, Vinyl, Polyamide, Polyketone, Nitrocellulose, and Others), Substrate (Paper and Board, Polyethylene, Aluminum, Polyvinyl Chloride, Polypropylene, Polyvinyl Acetate, Polyolefin, Cellophane, Polyester, Nylon, and Others), Application (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), Country (China, South Korea, Japan, India, Australia, New Zealand, Taiwan, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific,) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Printing Inks/Packaging Inks Market
The Asia-Pacific printing inks/packaging inks market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.6% in the forecast period of 2021 to 2028 and is expected to reach USD 5,770.98 million by 2028. Rising demand for the packaging and labels sector is boosting the Asia-Pacific printing inks/packaging inks market.
Printer ink is a type of ink that flows smoothly, dries quickly, and is of a consistency able to hold enough color to make printed matter legible. It is made in a fashion similar to paint. Colored dyes are added to the liquid base and are mixed well. The base ingredient of printer ink is usually oil, either linseed oil, soybean oil, or petroleum distillate. Carbon black and varnish are combined to make basic black ink. Colored ink is made with dyes/compounds like peacock blue, yellow lake, diarylide orange, and phthalocyanine green. Color shading is adjusted through the addition of white pigments, such as titanium dioxide. In addition, it contains numerous additives to make it flow properly and adhere to the paper.
Packaging inks are applied on different substrates with the help of different printing processes depending on the requirement. The growth of the market of packaging ink is expected to be driven by the high demand from the food industry. In addition, rise in the pharmaceutical industry, the demand for packaging ink will increase.
The rising demand for packaging ink in the food industry acts as a driver in the Asia-Pacific 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 Asia-Pacific printing inks/packaging inks market. Government regulations on the production of the inks restrain the market.
The Asia-Pacific printing inks/packaging inks market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Asia-Pacific printing inks/packaging inks market scenario, contact Data Bridge Market Research for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Printing Inks/Packaging Inks Market Scope and Market Size
The Asia-Pacific printing inks/packaging inks market is segmented based on technology, type, resin, substrate, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of technology, the Asia-Pacific printing inks/packaging inks market is segmented into solvent based, oil based, water based, UV curable, LED curable, EB curable, and others. In 2021, the solvent based segment is expected to dominate the Asia-Pacific printing inks/packaging inks market as it is more durable and can be applied to various materials. The availability of raw materials in the region also makes it a cheaper option.
- On the basis of type, the Asia-Pacific 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 as ink costs and material costs are relatively low, with no special coatings required. The Asian region has the large manufacturing of packaging converters where flexo ink is the preferred one.
- On the basis of resin, the Asia-Pacific printing inks/packaging inks market has been segmented into polyurethane, acrylic, vinyl, polyamide, polyketone, nitrocellulose, and others. In 2021, the polyamide segment is expected to dominate the Asia-Pacific printing inks/packaging inks market as the resin is low-cost and suitable in the region for mass packaging.
- On the basis of substrate, the Asia-Pacific 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 segment is anticipated to dominate as it can be manufactured in all shapes and sizes with good strength. This packaging is suitable for large volumes of packaging in all industries.
- On the basis of application, the Asia-Pacific 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 as packaging ink in the packaged food industry requires good quality packaging for hygiene purposes.
Asia-Pacific Printing Inks/Packaging Inks Market Country Level Analysis
The Asia-Pacific printing inks/packaging inks market is analyzed, and market size information is provided by the country, technology, type, resin, substrate, and application as referenced above.
The countries covered in the Asia-Pacific printing inks/packaging inks market report are China, India, Australia, Japan, South Korea, Taiwan, Hong Kong, New Zealand, Malaysia, Thailand, Singapore, Indonesia, Philippines, and the Rest of Asia-Pacific. China dominates the Asia-Pacific printing inks/packaging inks market due to the increased manufacturing and availability of raw materials.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rising demand for packaging ink in the food industry is boosting the market growth of Asia-Pacific printing inks/packaging inks market
The Asia-Pacific printing inks/packaging inks market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Asia-Pacific Printing Inks/Packaging Inks Market Share Analysis
The Asia-Pacific printing inks/packaging inks market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the Asia-Pacific printing inks/packaging inks market.
The major companies which are dealing in the Asia-Pacific printing inks/packaging inks are DIC CORPORATION, SAKATA INX CORPORATION, Siegwerk Druckfarben AG & Co. KGaA, TOYO INK SC HOLDINGS CO., LTD., hubergroup Deutschland GmbH, Flint Group, Kao Collins Corporation, SICPA HOLDING SA, T&K TOKA Corporation, and TOKYO PRINTING INK MFG CO.,LTD., among others in domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies worldwide, which accelerates the Asia-Pacific printing inks/packaging inks market.
For instances,
- In April 2021, Siegwerk Druckfarben AG & Co. KgaA inaugurated its new Blending Center in the Dhaka region in Bangladesh. The new center will help the company solve technical issues locally and provide additional technical support with less turnaround time. With this, the company will be able to expand its market in Bangladesh while enhancing its market leadership position across the Asian region
- In March 2021, Kao Collins Corporation launched the NEXXO line of inkjet inks for the new solvent-compatible Funai thermal inkjet ink cartridge. The inks offer greater opportunities for printing on new and challenging substrates with thermal inkjet technology. Also this the ink-cartridge combination reduces VOC emissions by almost 90%. With this, the company will be able to expand its product portfolio.
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