Global packaging printing ink market is estimated to reach US $13.45 billion by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the biotechnology market based on Substrate, Printing process, end use and region.
As per the report, the worldwide packaging industry drives the packaging printing inks market growth. These printing inks are mostly used on packaging materials like paper, plastics, rubber, metal, and others. The product also caters to the demand of large end-use industries like the food & beverage, pharmaceuticals, and industrial packaging.
Numerous trends in different end-use sectors have led to rapid growth in the packaging industry. For instance, flexible packaging is used in the food & beverage industry to offer consumers a wide selection of package sizes for portion control in snacks & confectioner segments. Meanwhile, health-led consumption trends related to bottle packaging are key growth influencers along with increasing consumer demand for use of safe packaging materials.
In terms of printing process, flexographic process has recorded growth on account of increasing application in folding cartons, corrugated boxes, tag & labels, and narrow web. This trend has further led to higher growth in the flexible packaging segment. The gravure process is mostly used for paper print packaging materials.
The report cites that rapid technological developments have led to new growth prospects in the global packaging printing ink industry. High color strength water-based flexo, enhanced UV blocking packaging inks, 100% VOC free EB flexo, and nanographic printing technology are some of the recent developments in the sector. Advancements in resin materials, such as use of plant-derived resins in the formulation of packaging printing inks, has also contributed towards growth in the packaging printing inks industry.
According to the report, the packaging printing ink market is subjected to regulatory policies and framework mainly because some of ink formulations are known to have a negative impact. For instance, end-use segments like food and pharmaceutical packaging are highly affected due to ink formulation containing VOC (volatile organic compound) or solvent-based inks.
Nevertheless, international agencies like REACH, EPA, and Food and Agricultural Organization (FAO) have implemented and initiated different policies for the use of safe or water-based packaging printing inks.
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In terms of regional development, Asia Pacific is a leading regional contender of the packaging printing inks market. Key countries like China, India, and Japan are contributing towards packaging printing ink industry growth. Meanwhile, Europe and North America markets have grown considerably due to the advanced packaging industry in the regions.
Global packaging printing ink market includes various domestic and large multinational companies like AkzoNobel NV, PPG Industries, Inc., Valspar Corp., Flint Group, Sun Chemical Corp., Siegwerk Druckfarben AG & Co., Sakata, Toyo Ink, ALTANA, Arkema, Nippon Paints, and ColorMatrix.
The company profiles of leading firms are mentioned in the report alongside their business overview, product benchmarking, financials, and recent developments. The report also provides an extensive quantitative and qualitative analysis of potential trends and growth prospects in packaging printing inks market between 2018-2026.