Printing Ink Market by Type (Nitrocellulose, Polyurethane, Water based, Acrylic, UV Curable), Process (Gravure, Flexographic, Lithographic, Digital), Application (Cardboards, Flexible Packaging, Tags & Labels, Cartons), & Region - Global Forecasts to 2028
Printing Ink Market
The global printing ink market was valued at USD 19.0 billion in 2022 and is projected to reach USD 28.6 billion by 2028, growing at 7.0% cagr from 2023 to 2028. Over the world, the printing ink market is expanding significantly, and during the forecast period, a similar trend is anticipated.
The printing ink industry is experiencing a substantial increase in demand, driven by a convergence of factors that span various sectors and applications. As industries continue to evolve and consumer preferences shift, the demand for printing inks is on the rise for several reasons. These include the persistent need for visually appealing and informative packaging in sectors like food, beverages, and consumer goods, as well as the packaging requirements of the booming e-commerce market. Furthermore, the demand for sustainable and eco-friendly solutions is fueling the adoption of printing inks with lower VOC emissions, bio-based components, and water-based formulations. The prominence of digital printing technologies, such as inkjet and UV-curable inks, is contributing to the growth, as they enable efficient short-run printing, customization, and faster production times. Additionally, industries such as textiles, automotive, and electronics rely on printing inks for labeling, branding, and product markings, further bolstering the market's expansion. As consumer expectations for unique, high-quality, and environmentally conscious products persist, the demand for innovative printing inks that can effectively meet these diverse requirements is set to continue its upward trajectory.
Attractive Opportunities in Printing Ink Market Trends
To know about the assumptions considered for the study, Request for Free Sample Report
Printing Ink Market Dynamics
Driver: Rising demand from packaging industry
The increasing demand for visually appealing and informative packaging in industries like food, beverages, and consumer goods is driving the need for high-quality printing inks. Packaging serves as a crucial tool for brand differentiation, product communication, and consumer engagement, fueling the demand for innovative ink formulations that can enhance packaging aesthetics and functionality. Also, the growing environmental consciousness is pushing industries to adopt eco-friendly practices, leading to the demand for printing inks with lower VOC emissions, bio-based components, and water-based formulations. This driver aligns with both regulatory requirements and consumer preferences for sustainable products, driving the market towards greener and more responsible ink solutions.
Restraint: Stringent regulatory compliance
Stringent regulations related to food safety, health, and safety standards restricting the types of inks that can be used for specific applications. Printing ink formulations often need to be altered to comply with regulations that restrict the use of certain chemicals or compounds. This lead to challenges in maintaining the same level of performance and quality while meeting the new regulatory requirements. Regulatory restrictions limits the types of printing inks that can be offered in the market. This limitation can hinder a company's ability to cater to specific customer needs or to develop innovative products. Meeting these regulations is challenging for ink manufacturers, potentially limiting the range of ink options available for certain industries and applications.
Opportunity: Growing demand in emerging markets
Emerging markets, such as China and India, are experiencing rapid economic growth. This is leading to an increase in demand for printing inks in these markets. Also, Industries like automotive, electronics, and textiles require specialized printing inks for labeling, branding, and marking purposes. As these industries evolve and incorporate innovative materials and technologies, there is an opportunity for ink manufacturers to develop tailored solutions that meet their unique requirements.
Challenge: Environmental concerns
While there is a demand for eco-friendly inks, the formulation and production of such inks must strike a balance between sustainability and performance. Some printing inks contain hazardous chemicals such as heavy metals, solvents, and other toxic substances. These chemicals can pose risks to workers, consumers, and the environment during production, use, and disposal. Many traditional printing inks contain VOCs, which are volatile chemicals that can evaporate into the air and contribute to air pollution. VOCs can have adverse effects on air quality, human health, and contribute to the formation of smog. Developing inks with low VOC emissions and eco-friendly components without compromising on color vibrancy, adhesion, and durability remains a technical challenge for manufacturers.
Printing Ink Market Ecosystem
Based on type, the UV curable segment is anticipated to register the highest CAGR
Based on type, the market is segmented into nitrocellulose, polyurethane, water-based, UV curable and acrylic. UV curable printing inks are gaining prominence due to their instantaneous curing when exposed to UV light, enabling faster production and reduced drying times. Offering environmental friendliness with low VOC emissions, they deliver superior print quality, vibrant colors, and adhesion to diverse substrates like paper, plastics, metals, and glass. Their durability, resistance to abrasion and chemicals, and customization capabilities make them suitable for applications ranging from packaging to wide format printing. Despite challenges like initial equipment investment and ink costs, UV curable inks are poised to meet the demand for speed, quality, sustainability, and versatility across various industries. Due to these factors, the UV curable printing ink type is expected to witness the highest CAGR between 2023 and 2028.
Based on the application, the tags and labels segment is estimated to account for the largest market share during the forecast period
Based on the application type of tags and labels segment is estimated to account for the largest market share. In the printing ink market, the application of printing inks in tags and labels is projected to hold the highest share due to its wide-ranging significance across industries. Tags and labels serve as crucial elements for product identification, branding, information dissemination, and regulatory compliance. Whether on consumer goods, pharmaceuticals, food and beverages, textiles, or industrial products, printing inks play a pivotal role in creating visually appealing and informative tags and labels. These inks are required to exhibit exceptional adhesion to various substrates, resistance to external factors like moisture and friction, and compliance with health and safety standards. With growing consumer demands for personalized packaging, high-quality visuals, and traceability, the use of printing inks in tags and labels has become a cornerstone of effective marketing, supply chain management, and consumer communication. As industries continue to innovate in packaging design, sustainability, and brand differentiation, the demand for versatile and reliable printing inks in the tags and labels application is expected to maintain its leading position in the market.
Asia Pacific to hold the largest market share during the forecast period
Asia Pacific is poised to dominate the printing ink market by holding the largest market share, driven by a combination of factors that underscore the region's economic growth, industrial expansion, and consumer demands. With the presence of several emerging economies and a significant manufacturing base, Asia Pacific is witnessing increased production activities across diverse industries such as packaging, textiles, electronics, and automotive. This growth fuels the demand for printing inks used in packaging, labels, promotional materials, and industrial applications. Moreover, the region's rapid urbanization, rising disposable incomes, and changing lifestyles contribute to greater consumer demand for products, enhancing the need for effective branding, labeling, and packaging – all of which rely heavily on printing inks. As industries prioritize innovation, customization, and sustainability, Asia Pacific's substantial market share is expected to persist, fueled by its evolving manufacturing landscape and its role as a hub for both production and consumption across multiple sectors. This factors driving the printing ink market in the region.
To know about the assumptions considered for the study, download the pdf brochure
Printing Ink Market Players
The printing ink market is dominated by a few globally established players such as DIC Corporation (Japan), Toyo Ink SC Holdings Co., Ltd. (Japan), T&K TOKA CORPORATION (Japan), Tokyo Printing Ink Mfg. Co., Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Yip’s Chemical Holdings Limited (Hong Kong), Sakata Inx Corporation (Japan), Dainichiseika Color & Chemicals Mfg. Co., Ltd. (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Hubergroup (Germany), Flint Group (Luxembourg), SICPA Holding SA (Switzerland), Wikoff Color Corporation (US), ALTANA (Germany), and DEERS i Co., LTD. (South Korea) among others, are the key manufacturers that secured major contracts in the last few years. Major focus was given to the contracts and new product development due to the changing requirements across the world.
These companies are pursuing a variety of inorganic and organic strategies in order to gain a foothold in the printing ink market. The research includes a detailed competitive analysis of these key players in the printing ink market, including company profiles, recent developments, and key market strategies.
Printing Ink Market Report Scope
Report Metric |
Details |
Market Size Value in 2022 |
USD 19.0 billion |
Revenue Forecast in 2028 |
USD 28.6 billion |
CAGR |
7.0% |
Market size available for years |
2022–2028 |
Base year considered |
2022 |
Forecast period |
2023–2028 |
Units considered |
Value (USD Billion), Volume (Million Tons) |
Segments Covered |
By Type, By Proess, By Application, Region |
Geographies covered |
North America, Europe, Asia Pacific, South America and Middle East and Africa |
Companies covered |
DIC Corporation, Toyo Ink SC Holdings Co., Ltd., T&K TOKA CORPORATION, Tokyo Printing Ink Mfg. Co., Ltd., FUJIFILM Holdings Corporation, Yip’s Chemical Holdings Limited, Sakata Inx Corporation, Dainichiseika Color & Chemicals Mfg. Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, Hubergroup, Flint Group, SICPA Holding SA, Wikoff Color Corporation, ALTANA, and DEERS i Co., LTD. |
The study categorizes the printing ink market based on Type, Process, Application, and Region.
By Type:
- Nitrocellulose
- Polyurethane
- Water based
- Acrylic
- UV Curable
By Process:
- Gravure
- Flexographic
- Lithographic
- Digital
- Others
By Application:
- Corrugated Cardboards
- Flexible Packaging
- Tags & Labels
- Folding Cartons
- Others
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Recent Developments
- In March 2023, Toyo Ink SC Holdings Co., Ltd., the Japan-based parent company of the specialty chemicals company Toyo Ink Group, announced that, in March 2023, it and its consolidated subsidiary Toyo Ink (Thailand) Co., Ltd. concluded a share purchase agreement to wholly acquire Thai Eurocoat Ltd., the top manufacturer of external coatings for non-printed cans in the Thai canned food market.
- In December 2022, The specialty chemicals group ALTANA has acquired a stake in the tech startup SARALON. The young company specializes in the development of inks for printing electronics. In addition, it offers prefabricated electronic components that enable printers to quickly build capacities for printing electronics.
- In September 2022, UbiQD, Inc., a New Mexico-based nanotechnology company, and SICPA SA, a Swiss technology company expanded their partnership in the development of anti-counterfeit security inks based on UbiQD’s quantum dot technology.
Frequently Asked Questions (FAQ):
Which are the major companies in the printing ink market? What are their major strategies to strengthen their market presence?
Some of the key players in the printing ink market are DIC Corporation (Japan), Toyo Ink SC Holdings Co., Ltd. (Japan), T&K TOKA CORPORATION (Japan), Tokyo Printing Ink Mfg. Co., Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Yip’s Chemical Holdings Limited (Hong Kong), Sakata Inx Corporation (Japan), Dainichiseika Color & Chemicals Mfg. Co., Ltd. (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Hubergroup (Germany), Flint Group (Luxembourg), SICPA Holding SA (Switzerland), Wikoff Color Corporation (US), ALTANA (Germany), and DEERS I Co., LTD. (South Korea) among others, are the key manufacturers that secured contracts, deals in the last few years. Contracts and deals were the key strategies adopted by these companies to strengthen their position in the printing ink market.
What are the drivers and opportunities for the printing ink market?
The need for printing ink has increased significantly around the world, particularly in Asia Pacific, Europe, followed by North America, where the major printing ink manufacturers are present. Rising R&D efforts and growing technological advancement in manufacturing are anticipated to accelerate market expansion globally.
Which region is expected to hold the highest market share?
Asia Pacific dominated the market share in 2022, showcasing strong demand for printing ink from this region. Well-established and prominent manufacturers in this region include DIC Corporation (Japan), Toyo Ink SC Holdings Co., Ltd. (Japan), T&K TOKA CORPORATION (Japan), Tokyo Printing Ink Mfg. Co., Ltd. (Japan), FUJIFILM Holdings Corporation (Japan), Yip’s Chemical Holdings Limited (Hong Kong), Sakata Inx Corporation (Japan).
What is the total CAGR expected to be recorded for the printing ink market during 2023-2028?
The CAGR is expected to record a CAGR of 7.0% from 2023-2028.
How is the printing ink market aligned?
The market is growing at a significant pace. The market is a potential market, and many manufacturers are planning business strategies to expand their existing business. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involves two major activities in estimating the current market size for the printing ink market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. This research involves the extensive use of secondary sources and databases, press releases of companies, Bloomberg, and Factiva to identify and collect information useful for a technical and market-oriented study of the printing ink market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. The primary sources are mainly industry experts from related industries and preferred suppliers, manufacturers, distributors, technologists, standards & certification organizations, and organizations related to all segments of the value chain of the printing ink industry. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering printing ink and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the printing ink market, which was validated by primary respondents.
Secondary research has been used to obtain key information about the supply chain of the printing ink industry, the market's monetary chain, the total pool of key players, market classification & segmentation according to industry trends to the bottom-most level, and regional markets. It has also been used to obtain information about the key developments that have taken place from a market-oriented perspective
Primary Research
Extensive primary research was conducted after obtaining information regarding the printing ink market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from printing ink industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the printing ink industry, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of printing ink and future outlook of their business which will affect the overall market.
The Breakup of Primary Research :
To know about the assumptions considered for the study, download the pdf brochure
COMPANY NAME |
DESIGNATION |
SICPA Holding SA |
Sales Head |
AT Inks |
CEO & Founder |
Sakata Inx Corporation |
Printing ink Consultant |
Boston Industrial Solutions, Inc. |
Sales Head |
Market Size Estimation
The research methodology used to estimate the size of the printing ink market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in printing ink in different applications of the printing ink industry at a regional level. Such procurements provide information on the demand aspects of the printing ink industry for each application. For each application, all possible segments of the printing ink market were integrated and mapped.
Printing Ink Market Size: Botton Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Printing Ink Market Size: Top Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Printing inks are complex chemical compound mixtures. The composition of printing inks differs depending upon the printing process, whether it is sheet-fed or web-fed, and the target substrate. The composition varies depending upon whether the solvent is oil or water. It varies depending upon the drying mechanism and whether the drying is primarily chemical, such as oxidation polymerization, ultraviolet cure, or physical, such as evaporation or absorption. Inks are classified as liquid or paste. Liquid inks (or toners) are used in gravure, flexo, inkjet, electrographic, and some electrophotographic processes. Paste inks include lithographic, screen, and letterpress.
Printing inks are extremely versatile and can be applied to almost any surface, regardless of texture, size, or shape. They are suitable for coloring paper, plastics, metal, glass, and textiles. Unlike paints and varnish coatings, printing inks are applied to surfaces in the forms of very thin layers, which can range in thickness from 2 to 30 micron depending upon the printing process. The visual characteristics of the ink are determined by three major factors: its color, transparency, and gloss. Several interconnected features also influence the color of the ink.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, segment, and forecast the size of the printing ink market based on type, process, application, and region
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, Middle East and Africa and South America, along with major countries in each region
- To provide detailed information about key factors (drivers, restraints, opportunities, and challenges) influencing market growth
- To analyze technological advancements and product launches in the market
- To strategically analyze micromarkets, with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers following customizations for this market report:
- Additional country-level analysis of the printing ink market
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company's market
Growth opportunities and latent adjacency in Printing Ink Market