Epoxy Ink Market: Introduction
- The global epoxy ink market is anticipated to expand rapidly during the forecast period, due to growth in the packaging sector
- Epoxy ink imparts important characteristics to printing inks. These include viscosity, strong pigment adhesion, high solid content, gloss, and improvement of pigment wetting.
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Key Drivers of Epoxy Ink Market
- Ink provides vital information about the goods that are packaged. It tells the purchaser the price, size, condition, and texture of the product; where and when it was made; and when it should be used by.
- Packaging addresses basic needs and quality-of-life issues of consumers. It provides the consumer with varied information that can be of crucial importance to their health: the degree of freshness and ripeness, color, shelf life, ingredients, and nutritional values. Many of the functions above can only be fulfilled by packaging, if printing inks are applied to packaging. Ink conveys information medium that simplifies and makes consumers’ lives safer in many aspects.
- The global packaging market stood at US$ 851 Bn in 2017, registering an increase of 2.8% over that in the previous year. It reached US$ 876 Bn in 2018 and is expected to reach US$ 980 Bn in 2022 and US$ 1,000 Bn in 2023. Rise in population and urbanization is fueling trade, and subsequently the use of packaging. Increase in online trade is further driving the need for packaging. Products are also being consumed on the go. This is boosting the need for food service packaging and different sizes of packaging.
- The printing ink market in Asia Pacific is projected to expand at a substantial pace during the forecast period. China is estimated to account for 48% increase in consumption of printing inks by 2022. Expansion of the packaging market in Asia Pacific can be primarily ascribed to the rise in demand for packaging in the e-commerce retail industry in countries such as China, India, Australia, Singapore, Japan, and South Korea.
- Inks are primarily used to print on flexible and rigid materials. Increase in preference for food & beverage packaging, flexible packaging, labels, tags, and corrugated board packaging is estimated to propel the epoxy ink market in the near future.
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Packaging Application Segment to Offer Lucrative Opportunities
- Based on application, the packaging segment accounted for major share of the global epoxy ink market in 2019. Packaging is the most common application of printing inks. All types of packaging require printing inks to denote information such as date of manufacturing, logo, and design.
- The commercial printing segment also accounted for key share of the global epoxy ink market in 2019. The segment is anticipated to gain higher share during the forecast period, due to increase in sale of paperback books. Sales of paperback books are increasing owing to an increase in subscriptions of e-books. This, in turn, is driving the commercial printing segment of the global epoxy ink market.
- The others segment comprises photograph reproduction, fine art, and wall covers. Market share of the segment is expected to decline during the forecast period, due to factors such as rise in digitization and increase in consumption of substitute products.
Asia Pacific Expected to Hold Major Share of Global Epoxy Ink Market
- Based on region, the global epoxy ink market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of demand, Asia Pacific dominated the global epoxy ink market in 2019, due to presence of a large number of manufacturers of food, beverages, and personal care products in the region. Asia Pacific has a rapidly expanding commercial printing industry.
- Europe also held vital share of the global epoxy ink market in 2019. Europe also has a strong rigid packaging industry. Food & beverages and personal care industries in the region have reached the saturation stage. Several countries in Europe are witnessing high per capita consumption of packaged products. Growth of the packaging sector in the region is propelling the demand for inks, as inks are mostly employed to print product details onto packaging.
- Rise in adoption of next-generation packing in North America is likely to be one of the key trends that would gain traction in the packaging industry. Growth of the packaging industry in the region is boosting the demand for epoxy inks in North America.
Key Players in Market
Key players operating in the epoxy ink market include:
- AGC Inc.
- Central Glass Co., Ltd.
- Olin Corporation
- Nan Ya Plastics Corporation
- Hexion Inc.
- Kukdo Chemical Co. Ltd.
- Huntsman Corporation
- Chang Chun Plastics Co. Ltd.
- Aditya Birla Chemicals
- The 3M Company
- BASF SE
- Sinopec Corporation
Global Epoxy Ink Market: Research Scope
Global Epoxy Ink Market, by Process
Global Epoxy Ink Market, by Application
- Commercial Printing
Global Epoxy Ink Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.