The global printing inks market is expected to reach US$20.17bn by 2020, according to Transparency Market Research report
Used in applications such as packaging, publication and commercial printing, packaging was the largest application segment of the printing inks market in 2013, led by rising demand for flexible packaging and other forms of packaging in numerous end-user industries.
The printing inks market has been segmented into process type based on various printing processes that use printing inks. In terms of products, the printing inks market has been segmented based on the composition of inks.
“Packaging is estimated to be the fastest growing segment of the global printing inks market in the next few years. Rising demand for printing inks in packaging application products, such as flexible packaging, tags and labels and metal cans, is anticipated to drive the global printing inks market in the next few years,” added the report.
Demand for printing inks is likely to increase further due to significant rise in digital printing coupled with substantial demand for printing inks in household printing applications.
“Water-based printing inks segment is projected to be the fastest growing product segment in the printing inks market. Global demand for environmentally-safe printing inks such as water-based printing inks and UV-cured printing inks is estimated to increase at a rapid rate in the next few years. Currently, oil-based printing inks and solvent-based printing inks account for a major portion of the printing inks market. However, growth in water-based printing inks is anticipated to overshadow the market share of the two segments in the next six years,” noted the report.
Asia-Pacific is anticipated to be the fastest growing region in the printing inks market in the next few years. Rising demand for printing inks in rapidly developing countries such as India and China is estimated to boost the printing inks market in the region in the next six years.