According to the latest research study released by Technavio, the global printing inks market is expected to reach USD 1.06 trillion by 2020.
This research report titled ‘Global Printing Inks Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including lithographic inks, flexographic inks, digital inks, and gravure inks.
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“The global packaging market is expected to grow at a CAGR of 4.41% to reach USD 1.06 trillion by 2020 from USD 861.5 billion in 2015. The growth of the global packaging industry since 2005 had a significant impact on the development and expansion of the global printing inks market, especially liquid waterborne printing inks,” said Chandrakumar Badala Jaganatha, one of Technavio’s lead analysts for chemicals and materials research.
“During the forecast period, the demand for vegetable oil-based and biodegradable inks is expected to grow significantly. Vegetable oil-based and biodegradable inks reduce the use of mineral oils, conserve non-renewable reserves, and minimize VOC emissions. The primary advantage of eco-friendly inks is the improved recyclability of paper, as it enables efficient separation of ink from paper,” added Chandrakumar.
Global printing inks market by printing process 2015
- Lithographic inks 41.80%
- Flexographic inks 26.22%
- Digital inks 16.35%
- Gravure inks 10.70%
Source: Technavio research
Lithographic inks: largest segment of the global printing inks market
The lithographic inks segment reported a revenue of USD 7.03 billion in 2015. Lithographic printing is widely used by commercial printers. It offers advantages such as longer plate life, image quality, lower costs, lower ink consumption, and printing flexibility.
The market for web offset inks will dominate the market share during the forecast period. The market for sheetfed offset inks is expected to grow rapidly due to the increased use in short-run publications such as commercial printing and special event promotions.
Flexographic inks: second largest segment of the global printing inks market
Flexographic inks are primarily used for printing on corrugated board cartons, flexible packaging, bags and sacks, labels, shrink sleeves, flexible sleeves, mold, wrap around, folding cartons, newspapers, envelopes, sanitary ware and kitchenware, and other products.
The benefits of flexographic printing such as shorter runs, lower costs, and quicker set-up times over other printing processes, influence this segment's growth. Further, the use of UV inks, which enable rapid curing, provides immense growth opportunities for the flexographic inks segment. As packaging is considered a unique selling point for many brands, manufacturers are likely to scale up investments in packaging that appeals to consumers. This trend will continue to buoy market growth until 2020.
Global market for digital inks
The digital inks segment recorded a revenue of USD 2.75 billion in 2015. The global cloud IDS/IPS market was valued at USD 410.4 million in 2015. The sophistication of cyber threats and hacking attempts is a major factor that drives the growth of the global cloud IDS/IPS market. An exorbitant increase in the number of intrusion attacks on enterprise networks and applications located in remote cloud servers has motivated enterprises and CSPs to increase their spending on cloud security. Instances of internal frauds, and high dependence on cloud computing have further fueled the demand for cloud IDS/IPS among enterprises.
Browse related reports:
Global Electrophotographic Printing Market 2015-2019
Global Commercial Printing Market 2015-2019
Electrophotographic Printing Market in Japan 2015-2019
Global Liquid Waterborne Printing Inks Market 2015-2019
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Source : businesswire.com