Global Printing Inks Sales Expected to Reach $20 Billion by 2020
in Latest News11 Jun 2015 | 0 Comments
‘Sales of printing inks will rise to $20 billion in 2020 at a rate of five per cent a year.’
This finding came from a new report titled ‘Printing Inks Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020’ released by the Transparency Market Research, a market research, analysis and intelligence company based in New York, U.S.A.
Part of the study revealed that the growing demand in oil, solvent and water based inks is anticipated to drive the global printing inks market over the next few years. The research provided a decisive view of the printing inks market in three segments: the product, process and application.
The growth in water based printing inks (such as Permaset ink) is anticipated to surpass the growth in solvent-based and oil-based inks in the next few years due to the increasing demand for eco-friendly inks for printing.
The Product Segment Analysis
This segment comprises three categories: the solvent based printing inks; water based printing inks and oil based printing inks. The study revealed that oil and solvent based inks currently hold the biggest portions of the printing inks market. However, the growth in water based printing inks is anticipated to surpass the market share of the two segments in the next few years due to the increasing demand for eco-friendly inks for printing, such as water based inks and UV-cured inks.
The Process Segment Analysis
This segment analysis includes studies on gravure, lithographic, flexographic and digital printing. The research revealed that in 2013, lithographic printing held the majority of the global market with 40 per cent of the total volume. Digital printing is anticipated to be one of the fastest growing segments, projected to rise in the next few years due to the growing need for digital printing along with the substantial demand for inkjet used in household applications. The increasing demand for inks in commercial printing and flexible printing is also expected to push the sales in North America for the next few years. In the Asia Pacific, countries like China and India are projected to boost the print inks market as well. The steady economic recovery of Europe and the US as well as the increasing demand for printing inks across other international markets are projected to drive the global printing inks market in the coming years.
The Application Segment Analysis
The application segment includes analysis of the following: packaging; publication and commercial printing; and decorative printing. The packaging segment is projected to be the fastest growing application segment of the global market. It is anticipated to drive the sales in the global market in the next few years due to the increasing demand for printing inks in packaging products, such as flexible packaging, tags, labels and metal cans.
The findings from the Transparency Market Research showed that the global printing inks market will continue to boom, projected to reach around $20.17 billion (€19.02 billion) by 2020, a compound growth rate of 30 per cent for the next five years.
For more of the latest industry news and helpful features, keep checking our blog. And for top quality water based inks, turn to Colormaker Industries. We develop a range of innovative products, such as Permaset Aqua, Permaprint Premium, and Permatone inks for screen printing and other fabric printing, which are safe for the environment.