North America Printing Inks Market: Stringent Emission Regulations to Increase Demand for Water-based Products, says TMR
The North America printing inks market features a largely consolidated competitive landscape, with the leading three companies collectively accounting for over 65% of the market in 2015, observes Transparency Market Research (TMR) in a recent report. These leading players, namely Sun Chemical Corporation, Flint Group, and INX International Ink Co. command prominent positions in the market on account of their well-established distribution channels, several research and development centers, and operating facilities across a number of potential markets.
The market is going through a sluggish growth path and more focus on the development of on innovative and trendy products such as the environment-friendly water-based and UV-cured printing inks over solvent-based products is expected to be the key distinguishing factor in the next few years. Stringent emission regulations in the U.S. and Canada will lead to an increased demand for water-based and UV-cured products in the near future.
Transparency Market Research estimates that the North America printing inks market will exhibit a 5.7% CAGR over the period between 2016 and 2024, rising to a valuation of US$8.7 bn by 2024 from the US$5.3 bn valuation in 2015.
Oil-based Printing Inks to Retain Dominance in North America Printing Inks Market
The report examines the North America printing inks market for product varieties such as solvent-based printing inks, water-based printing inks, UV-cured printing inks, and oil-based printing inks. Of these, the segment of oil-based printing inks is presently the leading contributor of revenue to the North America market. The high share of the product segment in the overall market is attributable to its extensive usage in commercial and publication printing.
From a geographical standpoint, the North America market has been segmented into the U.S. and Canada. Of these, the market in the U.S. dominates in terms of production, consumption, as well as revenue contribution to the North America printing inks market. The U.S. is expected to remain the dominant region for the printing inks market in North America over the report’s forecast period as well, exhibiting a 5.55% CAGR from 2016 through 2024.
Healthy Growth of Packaging Industry to offer Lucrative Growth Opportunities
The consistently healthy growth of the packaging industry in North America is considered a key growth factor for the North America printing inks market. Rising disposable incomes, a thriving e-commerce industry, increased consumption of packaged food products, and improving economies have all significantly contributed to the growth of the packaging industry. The increased use of accurate labelling on packages to ensure appropriate transactions provides a significant boost to the North America printing inks market and is expected to remain the key driver for the market in the next few years as well.
Thriving Market for Digitized Books Emerges as Key Challenge to Growth
Some of the key challenges faced by the North America market for printing inks include the thriving market for e-learning and the increasing trend of higher demand for digitized books and other communication and publication material over paper-based ones. The resultant decline in the market for paper-based communication and publication media is expected to remain a key threat to the overall growth of the North America market for printing inks.
The market is also expected to bear the brunt of the vast and increasingly stringent emission-related regulations that prohibit the use of toxic metals such as cadmium, mercury, and lead and inorganic solvents for the preparation of printing inks. These metals and inorganic solvents are considered harmful for the environment as well as for human health are rapidly being replaced by organic products. The ensuing high costs from research and development activities for the formulation of organic products, with characteristics equally strong or better than solvent-based products, could lead to shrunken profit margins.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Printing Inks Market (Product - Solvent-based, Water-based, Oil-based, UV-Cured; Application - Flexographic, Gravure, Offset, Digital, Screen, and Specialty; End Use - Publication and Commercial Printing, Packaging, Textiles, Metal Cans, and Decorative Printing) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
For the study, the North America market for printing inks has been segmented as follows:
North America Printing Inks Market: By Product
North America Printing Inks Market: By Application
- Flexographic Printing
- Gravure Printing
- Offset Printing
- Digital Printing
- Screen Printing
- Specialty Printing
North America Printing Inks Market: By End-Use
- Publication & Commercial Printing
- Metal Cans
- Others (Decorative Printing, etc.)
North America Printing Inks Market: By Country
- The U.S.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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