According to latest printing inks market research report, the industry will be touching the USD 5 billion mark by 2028 at a CAGR of 3.9% from the base year or 2020.
According to the report, the global printing inks market registered earnings worth approximately 2.1 (USD Billion) in 2020. The huge demand in printing inks will create lucrative growth avenues for printing inks industry over forecast timespan. Printing inks are used in flexible materials, metal cans, and labels & tags and this is why the industry will see quite an expansion. Massive use of printing inks in publishing sector will scale up expansion of printing inks industry over years ahead.
Large-scale use of printing inks on corrugated cardboard printing, modern letterpress, and folding cartons will translate into prolific expansion of printing inks market in years to come. Apart from this, swift digitization witnessed in printing inks industry and breakthroughs in printing inks technology will chart a profitable growth curve for printing inks industry over forthcoming years.
Additionally, with digital printing providing quick turnaround time and gaining immense popularity in printing inks industry, it is predicted to harvest lucrative growth prospects for printing inks market in years ahead. All these aforementioned factors will help printing inks business enter a new era of growth in next few years. It will also help in inscribing a new landscape of growth for printing inks market in upcoming years.
Moreover, launching of UV curable inks embedded with beneficial features will define a new doctrine (or new line) of growth for printing inks market in coming decade. In addition to this, rise in demand for screen printing will contribute noticeably towards printing inks market size over forecast timeframe. However, outbreak of COVID-19 pandemic and lockdown imposed in various countries to contain spread of the coronavirus can deplete growth of printing inks industry in ensuing years.
As printing inks industry is highly profitable one with huge growth potential, a large number of new entrants are entering printing inks business and hence printing inks market is becoming highly fragmented and competitive. It is likely that in coming years each industry player will try to retain market position and establish a stronghold in printing inks business. Currently, only few of giant players are accounting majorly towards market share and this include Flint Group, Sakata Inx Corporation, DIC Corporation, Fujifilm North America, SICPA Holding SA, Toyo Ink SC Holdings Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, Tokyo Printing Ink Mfg. Co., Ltd., Hubergroup, and T&K Toka Co., Ltd.