Global Printing Inks Market 2020–2024 | Rising Demand for Bio-Based Printing Inks to Boost Growth | Technavio
The global printing inks market is expected to post a CAGR of nearly 5% during the period 2020–2024, according to the latest market research report by Technavio. Request a free sample report
Water-borne printing inks have lower VOC levels and hazardous air pollutants which make them less toxic and less flammable. They provide excellent adhesion and exhibit good resistance to heat and abrasion. Also, waterborne printing inks do not require additional additives, thinners or hardeners, and are cost-effective compared to solvent-borne coatings. Many such advantages are encouraging end-users to opt for water-borne printing inks. This is one of the key factors driving the growth of the global printing inks market.
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As per Technavio, the rising demand for bio-based printing inks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020–2024.
Global Printing Inks Market: Rising Demand for Bio-Based Printing Inks
End-users across industries such as packaging, publishing, and printing paper are exhibiting strong demand for eco-friendly printing inks. This is compelling major market vendors to use bio-based raw materials such as soy, palm, and other vegetable oils to offer a sustainable alternative to conventional petroleum-based inks. The use of such raw materials is also helping printing ink manufacturers to produce eco-friendly and biodegradable products with low VOC emissions. This trend is expected to boost the growth of the global printing inks market during the forecast period.
“New product development and the increasing demand for UV-curable printing inks will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Printing Inks Market: Segmentation Analysis
This market report segments the global printing inks market by type (lithographic inks, gravure inks, flexographic inks, digital inks, and others), end-users (packaging, publishing and commercial printing, and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the proliferation of e-commerce companies in the region.
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