North America Printing Inks Market
North America Printing Inks Market (Product: Solvent-based, Water-based, Oil-based, and UV Cured; Application: Flexographic Printing, Gravure Printing, Lithographic & Offset Lithographic Printing, Digital Printing, Screen Printing, and Specialty Printing; and End Use: Packaging, Publication & Commercial Printing, Textiles, Metal Cans, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Demand for Environment-friendly Printing Inks on Rise Due to Stringent Regulatory Landscape
The soaring demand for printing inks from the packaging, publication, and textiles industries, among others, continues to scale new heights. With significant advancements in technology and research, an array of printing inks are available in the current market, including solvent-based, oil-based, UV cured, and water-based inks to name a few. While traditional applications of printing ink such as intaglio, flexographic, screen printing, etc., are projected to aid market growth, the advent of new applications of printing inks, including digital printing, screen printing, and specialty printing are expected to provide an impetus to the growth of the North America printing inks market during the forecast period.
Although the demand for printing inks from the commercial offset printing sector has declined over the past couple of years, the ascending demand from the packaging industry is expected to drive the North America printing inks market in the upcoming years. While brands operating in the current market landscape are focusing on the development and production of new printing inks, the evolving nature of the regulatory landscape is projected to play a key role in influencing operations. Environment and human safety concerns pertaining to the use of printing ink in different end-use industries are set to impact the operating models and product development activities within the North America printing inks market. At the back of these factors and research, the North America printing inks market is expected to attain a market value of ~US$ 6 Bn by the end of 2030.
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Packaging Sector Leans toward Eco-friendly Printing Inks
The packaging sector is projected to provide abundant lucrative opportunities for market players operating in the North America printing inks market. However, with evolving demands of retailers, food brands, consumers, and new-age printers, printing ink manufacturers are required to tune their products in line with the ongoing trends and demand. The regulatory landscape circling around the use of printing inks is primarily pinned on improving consumer food safety. Although market players operating in the current market landscape are focusing on tracking consumer trends, packaging trends are also required to be closely monitored. Food companies and participants in the supply chain are projected to ensure product freshness and safety and comply with regulations.
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The soaring emphasis on food safety has played an important role in influencing operations across the packaging sector. At present, across the food and cosmetic sector, it is imperative for manufacturers to operate in tandem with their printing partners to ensure that adhesives, substrates, and printing inks are well suited for the application. In recent years, environment-friendly inks made from bio-renewable materials have gained notable attention and the trend is set to continue through the entirety of the assessment period. The demand for eco-friendly inks is on the rise, as food brands can fulfill the required environment safety standards. Printing ink companies are increasingly working in tune with converters to launch innovative solutions.
Brands Focus on Expanding Portfolio, New Innovations on Horizon
Brands operating in the current North America printing inks market are increasingly focusing on launching new products to break through the neck and neck competition. While the focus on launching new products is expected to gain momentum during the forecast period, complying with regulatory standards is critical. Several brands are likely to expand their product portfolio to gain an advantage in the current market landscape. For instance, in July 2019, Epson America launched a new line of inks and printers– a move that is likely to further consolidate its position in the North America printing inks market. In addition, several brands are also expected to diversify their product portfolio and focus on product development.
Supply Chain Issues on Rise as COVID-19 Pandemic Affects Printing Sector
The onset of the COVID-19 pandemic has crippled the supply chains of major industries worldwide including the printing sector. As governments across the world continue to combat the novel COVID-19 pandemic by enforcing lockdowns and curfews, supply chain challenges are expected to dent the expansion of the North America printing inks market, particularly in 2020. As conferences and exhibitions wherein brands focus on launching new products stand to be canceled, several companies are projected to focus on marketing their products on digital platforms. Companies are also expected to diversify their products and seek different ways to assist the government in combating the COVID-19 pandemic. For instance, Inkjet, Inc. is currently producing hand sanitizers that are high in demand across the U.S.
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The North America printing inks market is expected to grow at a CAGR of ~3% during the forecast period. High demand from packaging, textile, and publication industries, along with focus on innovations are some of the major factors that are likely to propel the market during the forecast period. Eco-friendly printing inks made from biodegradable resins and materials will gain traction in the upcoming years. While innovations are expected to gain momentum after the COVID-19 pandemic subsides, product diversification will remain key for brands while moving forward.
Global Printing Inks Market – Overview
Printing inks are now an indispensable part of our day to day lives. They are utilized for several different purposes of printing in several different sectors. These printing inks small pigments that are integrated with varnish or oil in order to get the desired effect. The launch of several different new products, services, and solutions in the North America printing inks market has been the key factor for its overall development in recent years. As per the research report published by Transparency Market Research, the North America market for printing inks was initially valued at US$5.3 bn in the year 2015. The market is expected to reach a valuation worth US$8.7 Bn by the fall of 2024. During the given forecast period ranging from 2016 to 2024, the North America printing inks market is expected to grow at a healthy CAGR of 5.70%.
Printing inks are mostly used in thin films and a broad range of substrates such as paper boards, paper, and metal sheets among others. These inks are also utilized for other operations such as decorative purposes, protecting surfaces, and primarily for communicative functions as well. These printing inks are manufactured from resins, solvents, pigments, and additives. Whereas, the colorants are made from pigments, toners, dyes, or blending all the mentioned materials.
Oil-based Printing Ink to Witness Increasing Demand
Because of the increasing concerns over the deterioration of the environment, the North America printing inks market is trying to concentrate on producing bio-based printing inks. The demand for these printing inks is directly reliant on the costs of crude oil. Hence, constant fluctuations in the prices of crude oil across the world has a considerable impact on the overall development of the North America market. The overall market growth is also helped by the increasing demand for UV-cured ink, increasing number of consumers, and the growing spending and economic power of consumers on wide range of products. Among the different type of products available in the printing inks market, the segment of oil-based printing inks is expected to account for a dominant share. This dominance of the segment is because of its increasing and extensive demand from commercial sector for application such as publications and others. The segment of oil-based printing ink in the North America market accounted for 39.9% of the overall share in the year 2015.
Offset Printing to Remain Most Dominant Application Segment
Based on application, the North America market for printing inks is segmented into screen printing, specialty printing, offset printing, digital printing, gravure printing, and flexographic printing. Among these, the segment of offset printing is expected to account for the largest share in the North America market. It accounted a 41.2% share in 2015 and was closely followed by the segment of flexographic printing. Increasing preference for offset printing because of its several advantages such as consistent and high quality of image output is one of its key driving factors. On the other hand, the segment of lithography is increasingly used for printing procedures by numerous independent companies.
In terms of end users, the segment of packaging accounted for 46.5% share of the overall North America printing inks market. The other segments such as textiles, commercial printing, metal cans, publication, and others are expected to witness a decent growth in the near future.
The leading players operating in the North America printing inks market are
- Siegwerk Druckfarben AG & Co.
- INX International Ink Co.
- Flint Group
- Sun Chemical Corporation
- Wikoff Color Corporation
- Toyo Ink America, LLC
- American Ink and Coatings
- DuPont, Huber Group
- Electronics For Imaging, Inc.
- Sanchez SA de CV
- Quad Graphics Inc., and
- FUJIFILM Corporation.
North America Printing Inks Market: Scope of Report
Transparency Market Research’s recent report on the printing inks market in North America provides readers with an assessment of the landscape of the market with the help of a comprehensive outlook. This study on the printing inks market in North America analyzes the market for the period from 2020 to 2030, wherein 2019 is the base year. The report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
This TMR study on the printing inks market in North America also provides data on developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of drivers, restrains, opportunities, and market trends.
This study also discusses the underlying trends and the impact of various factors that are driving the printing inks market in North America, along with their influence on growth of the market.
This study also offers Porter’s Five Forces analysis and value chain analysis of the printing inks market in North America in order to elaborate on crucial growth strategies of players operating in the regional market.
Key Questions Answered in North America Printing Inks Market Report
- How much revenue is the printing inks market in North America expected to generate by the end of the forecast period?
- Which country currently accounts for the maximum share of the printing inks market in North America?
- What are the factors anticipated to drive the printing inks market in North America during the forecast period?
- Which country is likely to be a highly lucrative for printing inks during the forecast period?
- What are the essential strategies adopted by key stakeholders of the printing inks market in North America to expand their geographical presence?
- What are major advancements in the printing inks market in North America?
This report answers these questions about the printing inks market North America, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.
North America Printing Inks Market: Research Methodology
This TMR report on the printing inks market North America is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the printing inks market North America is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the printing inks market North America arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the printing inks market North America by using both bottom-up and top-down approaches.
This detailed assessment of the printing inks market North America, along with an overview of the market, is provided on the basis of a careful examination of growth opportunities. Analysts’ conclusions on how the printing inks market North America is set to expand are based on carefully vetted primary and secondary sources.
North America Printing Inks Market – Segmentation
This report on the printing inks market in North America segments the market based on product, application, end use, and country.