The research study covers the present scenario and growth prospects of the global packaging print inks market for 2017-2021. Technavio’s database and industry-specific repositories are used for defining the hypothesis for the study, which is further fine-tuned through primary research involving industry experts.
The global packaging printing inks market depends on the driving factors that influence both the printing sector and the packaging sector. Packaging printing inks are produced for the convenience of the customer and the requirements of the product. Apart from these, packaging printing inks also play a major role in aiding brand building and attracting customers to purchase the products.
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Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the global packaging print inks market:
Brand building for FMCG
The considerable growth of fast-moving consumer goods (FMCGs), including food, beverages, and pharmaceuticals, is encouraging the growth of the global packaging printing inks market. Packaging provides protection against heat, gases, and environmental agents for a variety of consumer goods. Along with protection, packaging also enhances the aesthetic appeal of a product and makes it unique among the available counterparts, which is attributable as a unique selling point.
Mahita Mallishetty, a lead paints, coatings, and pigments research analyst at Technavio, says, “Many manufacturers are entering the FMCG market, and the products offered under this segment are expanding. Furthermore, established manufacturers are venturing into new markets. This has intensified the competition in the market considerably, thereby compelling manufacturers to develop packaging products that are unique and have a lasting impact on the consumers.”
Increasing demand for premium packaging
A marketing strategy that has been driving the packaging print market is the premium packaging of products. Prominent brands are acknowledging the potential of expensive looking packaging and are using it as an effective means to generate premium products. This approach is focused more toward the personal care, cosmetics, and confectionery segments.
“The premium packaging also has brought in high-quality substrates for printing and packaging. For instance, high-grade paperboards are increasingly gaining popularity as a leading substrate for premium packaging. In addition, the premium products also employ novel embellishment options such as metal foil effects, glittering, and embossing,” adds Mahitha.
Superior characteristics of waterborne printing inks
Manufacturers in the market are switching from solvent-based printing inks to waterborne printing inks because of their eco-friendly features and due to the ease of substrate recycling. Solvent-based inks consist of hydrophobic resins. This results in an inadequate flow and formation of lumps while recycling the substrate in an aqueous condition, affecting the quality of the recycled product.
Waterborne inks are used in flexographic printing process on non-absorbent polypropylene and polyethylene substrates for packaging applications. Waterborne inks were initially used in limited applications in the packaging industry due to their incompatibility with non-absorbent substrates, which are primarily used in food packaging.
- DIC CORPORATION
- Flint Group
- INX International Ink
- Siegwerk Druckfarben
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