The global printing inks market was valued at USD 19.2 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 2.8% from 2021 to 2028. This growth, although moderate, is driven by several key factors, including the expansion of end-use industries such as flexible packaging, commercial printing and publishing, and packaging labels. These industries have significantly influenced the demand for printing inks and are expected to continue shaping the market over the forecast period.

Historically, printing inks were predominantly used in the production of printed publications such as newspapers, magazines, and journals. However, with rapid urbanization and the increasing digital needs of consumers, the application of printing inks has expanded beyond commercial printing and publication, with a strong shift towards the packaging industry. In packaging, printing inks are applied to packaging materials to enhance their visual appeal and marketability. As packaging is a critical marketing tool for consumer products, this shift has opened new opportunities for the printing inks market.

The flexible packaging segment is playing a significant role in the growth of the printing inks market. Flexible packaging provides greater customization options, allowing brands to design packaging that better suits their products and appeals to consumers. The food and beverage industry, particularly the snacks and confectionery categories, is driving the demand for flexible packaging. Additionally, the growing global population and the increasing need for packaged food products have further boosted the demand for flexible packaging.

The flexible packaging industry's growth is expected to provide substantial opportunities for printing ink manufacturers. As flexible packaging continues to expand, the need for high-quality, durable, and visually appealing ink applications for food packaging, personal care products, and other consumer goods is likely to increase, further driving the growth of the printing inks market.

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Regional Insights:

Asia Pacific Printing Inks Market Trends

Asia Pacific led the global printing inks market in 2021, accounting for the largest revenue share of 35.60%. The region is expected to maintain its dominance throughout the forecast period, largely due to increasing consumption of packaged food products and significant growth in packaging and labeling industries. These industries are driven by the expansion of sectors such as food & beverage, consumer goods, healthcare, and e-commerce, all of which have a high demand for packaged products.

A notable trend in the region is the rising preference for flexographic inks, particularly for use in flexible packaging applications. Flexographic inks are known for their ability to print on non-absorbent materials, offering a faster printing process and enhanced color options across various substrates. This trend is expected to contribute significantly to the growth of the printing inks market in the Asia Pacific region.

Japan

In Japan, the printing ink market is experiencing a gradual decline, especially in the commercial printing and publishing sectors. The increasing digitalization of information and a shift toward online media consumption have reduced demand for traditional print media such as newspapers and magazines, which were once major drivers for the printing ink market. This shift has led to a shrinking customer base for printing inks in the country.

However, despite the decline in traditional printing, the demand for printing inks in food packaging, corrugated cardboard, and printing on containers is growing. As the packaging sector continues to expand, driven by factors like consumer demand for packaged foods and goods, the printing inks market in Japan is expected to see a steady increase, particularly in the food packaging segment.

China

China is the dominant player in the Asia Pacific printing inks market and is expected to maintain its lead in the coming years. The country’s rapid growth in the packaging industry, fueled by the boom in e-commerce and the increased demand for international shipping of goods, is expected to continue driving demand for printing inks. Packaging is a critical component of e-commerce, as it protects products during shipping and enhances brand visibility, thus creating strong demand for high-quality printing inks in the sector.

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Key Companies & Market Share Insights:

The global printing inks market is highly competitive, with several vertically integrated players offering advanced technological solutions and efficient procurement and distribution channels. The market has seen considerable consolidation in recent years, with several companies pursuing expansion strategies such as mergers and acquisitions.

One example of such an expansion strategy is Epple Druckfarben Italia S.r.l. in Milan, Italy, a subsidiary of Epple Druckfarben. This company specializes in high-quality German offset printing inks. Another example is Sakata Inx Corporation, which expanded its operations by opening a new plant in Kansas, U.S. These strategic expansions enable companies to strengthen their market presence and enhance their ability to meet the growing demand for high-quality printing inks across different regions.

Overall, the printing inks market is set to grow moderately due to the increasing demand from flexible packaging, commercial printing, and the packaging labels sector. While the packaging industry remains a key driver, the shift towards digitalization in certain regions, such as Japan, is influencing the demand for traditional printing inks. However, ongoing technological advancements and regional trends, especially in Asia Pacific, offer significant growth opportunities for ink manufacturers in the coming years.

Key Printing Inks Companies:

• Flint Group
• DIC Corporation
• Siegwerk Druckfarben AG & Co. KGaA
• Sakata Inx Corporation
• T&K TOKA Corporation
• Dainichiseika Color & Chemicals Mfg. Co., Ltd.
• DEERS I CO., Ltd.
• Epple Druckfarben AG
• TOYO INK SC HOLDINGS CO., LTD.
• Hubergroup
• TOKYO PRINTING INK MFG CO., LTD.

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