LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global printing inks market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
This market research report segments the global printing inks market into the following type (lithographic inks, flexographic inks, digital inks, and gravure inks), end-use industry (packaging, publishing, and commercial printing), and key regions (North America, APAC, EMEA, and ROW).
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In this report, Technavio analysts highlight the demand for water-based ink technology as a key factor contributing to the growth of the global printing inks market:
Demand for water-based ink technology favoring market growth
Water-based printing inks perform well in printing applications involving textiles, cardboard, and paper and are increasingly preferred. Water-based printing inks are also used for printing plastics and foils. These printing inks can easily recycle the substrate. Moreover, the advances in the water-based ink technology that includes the development of novel additives along with water-based printing processes are expected to drive the demand for printing inks. For example, surface preparation techniques, such as the corona treatment, are majorly used in a wide range of materials, including foils and plastics.
According to a senior analyst at Technavio for paints, coatings, and pigments, “The players in the market are focusing on switching their operations from the solvent-borne printing inks to water-based or waterborne printing due to the eco-friendly properties of water-based printing inks. These inks are also increasingly preferred as they improve the flow of inks. As they are manufactured using water-dispersible polymers, they benefit printers and reduce the overall cost by enhancing the ink-flow.”
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Global printing inks market segmentation
Of the four major types, the lithographic inks segment held the largest market share in 2017, accounting for nearly 43% of the market. The market share for this type is expected to decrease by 2022. The fastest growing type is digital inks, which will account for nearly 17% of the total market share by 2022.
North America was the leading region for the global printing inks market in 2017, accounting for a market share of nearly 54%. By 2022, APAC is expected to witness the highest growth rate of nearly 2%.
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