Printing ink is a liquid material used for printing. Printer ink is made using ingredients such as pigments, solvents, resin, varnish, and additives, including lubricants and waxes. Various colored pigments are used to prepare different ink colors. White and black inks are made from titanium dioxide and carbon black. Traditional printers use four main colors of ink: black, yellow, magenta, and cyan. Whole spectrum of colors is made from these four colors when mixed together in various proportions.
Packaging is considered as one of the major promotional aspects that determine a consumer's purchasing decision. Printer inks are widely used in the packaging industry. Rapidly growing food & beverages industry in the world, along with rising demand for flexible packaging from the healthcare sector, is anticipated to drive the demand for printer inks during the forecast period. There is a huge growth opportunity for printer inks in packaging applications, both in single and multiple pass printing.
Increase in processed and packaged food demand, growing usage of high-barrier plastic packaging materials, increasing adoption of flexible packaging over rigid, rising adoption of pouches across industries are some of the factors propelling the packaging printing market, which, in turn, is projected to drive the demand for industrial printers during the forecast period.
The rising consumer disposable income is projected to drive the consumption of printed clothing, thus complementing printer ink market growth. Furthermore, in order to resist washing and friction, printed fabrics provide better bonding of the color with fibers due to which, the demand for printer ink for textile printing application is growing.
Increase in urbanization, middle-class population, and disposable income due to the growing economies is boosting the e-commerce industry. Encouraged by the growth of companies such as Amazon, EBay, Flipkart, etc., the packaging industry, especially flexible packaging has been on the rise, which, in turn, is anticipated to boost the printer ink market during the forecast period.
The global packaging and printing industry is transforming due to the incorporation of digital printing. Moreover, changes in the way brands communicate with consumers, strong growth in e-Commerce, and changes in the retail supply chain have further promoted the application of digital printing. Device processors and manufacturers are prospecting how to realize new value through the personalization and customization of packaging, as packaging is becoming an important channel for brands to interact with consumers. The transition from analog printer to digital printer is projected to create new opportunities for the printer ink market globally.
The global printer ink market can be segmented based on ink type, printing process, market segment, end-use application, and region
Based on ink type, global printer ink market has been segmented into water-based, UV-cure, LED-cure, EB-cure, solvent-based, and others
In terms of printing process, the global printer ink market has been classified into digital, offset, flexographic, gravure, lithographic, and others
Based on market segment, the global printer ink market has been divided into packaging, publication, digital, commercial, and others
In terms of end-use application, the global printer ink market has been split into coatings, coldest, commercial sheetfed, corrugated, flexible paper, flexible film, folding carton, and others
Based on region, the global market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (India, Japan, China, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America)
Key players operating in the global printer ink market include Siegwerk Druckfarben AG & Co. KGaA, INX International Ink Co., ALTANA AG, Huber Group, Sun Chemical, Toyo Ink SC Holdings Co. Ltd, Wikoff Color Corporation, Flint Group, DIC Corporation, and Encres Dubuit