Printing inks consist of pigments of different colors mixed with oil or varnish. Unlike paints, a thin layer of printing inks, with thickness varying between 2-30 μm, is applied on the surface. Presently, manufacturers are working on developing printing inks that can last long, be printed on different surfaces, and can offer high performance & a glossy finish.
Owing to these properties, the applications of printing inks are scaling across multiple verticals worldwide. Some prominent industries with soaring demand for next-generation printing inks include packaging, food & beverages, apparel, & cosmetics, among various others.
The Global Next-Generation Printing Ink Market is projected to grow at a CAGR of around 8.24% during the forecast period, i.e., 2021-26. The market is driven primarily by the escalating need for printing inks from end-users like the packaging industry to add flexible labels, commercial letterpress, etc., on packaging items with corrugated cardboard & foldable cartons.
In addition, the packaging industry is extensively expanding across regions like Asia-Pacific & North America, which is anticipated to play a crucial role in fueling the demand for next-generation printing inks. Several prominent market leaders are actively participating in the market & introducing new products & expansion strategies with more focus on items that suffice consumer requirements through technological, production, & distribution progressions. Moreover, the recent market trends include the rising importance of flexographic & digital toners, food-safe printing inks, etc., as well as the surging inclination of consumers toward environment-friendly products.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain, Switzerland|
|Asia-Pacific: China, India, Japan, South Korea, Australia|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, Qatar, Egypt, South Africa|
|Key Companies Profiled||Mimaki Engineering Co., Ltd., Altana AG, Kornit Digital Ltd., DuPont de Nemours, Inc., Flint Group, DIC Corporation, Huntsman Corporation, Domino Printing Sciences PLC, FUJIFILM Holdings Corporation, Memjet, Sakata INX Corporation, Dover Corporation, HP Inc. (Hewlett-Packard), Roland DG Corporation, Sensient Technologies Corporation, Arrow Systems, Inc., Domino Printing Sciences plc, TOYO INK CO., LTD., Epson, Bühler Group|
|Unit Denominations||USD Million/Billion|
Impact of Covid-19 on the Global Next-Generation Printing Ink Market
The Covid-19 pandemic in 2020 had a decelerating effect on most industries, where the Global Next-Generation Printing Ink Market was no exception. With the exponential spread of the virus worldwide, governments of different countries were compelled to impose stringent movement restrictions & lockdowns.
Due to this, the next-generation printing ink market witnessed several unprecedented challenges like disruption in the supply chain, shortage of labor & raw materials, reduced demand & production, & difficulties in supplying pre-produced products. It, consequently, led to the shut-down of the manufacturing units and introduced massive financial losses to the leading players.
However, with the gradual improvement in the pandemic situation, the governments of different countries swiftly began to uplift restrictions and allowed the recommencement of business operations. The market is now regaining its usual momentum while recovering from financial losses and is very likely to create remunerative growth opportunities for the leading players during the forecast period.
Key Trend in the Global Next-Generation Printing Ink Market
The advent of Digital Printing is anticipated to project as a prominent growth opportunity for the Global Next-Generation Printing Ink Market during the forecast period. With the mounting trend of label production & electrophotography, the global market is expecting a significant revolution in the coming years with the surging use of digital printing.
Based on the Application:
Of them all, the Packaging application dominated the market with the largest share in recent years & is anticipated to prevail the same trend during 2021-26. It owes principally to the rapidly increasing demand for printing inks in packaging different materials & products.
Since packaging is used widely as a strategic way of advertisement to attract customers, numerous manufacturers & leading players are massively investing in elaborative & unique packing solutions, which is fueling the demand for printing inks. Moreover, the stringent norms by governments of many countries worldwide have mandated manufacturers to print prominent details like date of manufacturing & expiry, ingredients, product price, quantity, etc., on the packaging.
Furthermore, the substantially surging demand for next-generation printing inks in the packaging industry is also since these inks have many types and deliver gloss finish, surface protection, and other benefits. Nonetheless, the quick-drying property of these inks is another crucial aspect propelling their demand across the packaging sector.
Based on the Ink-Type:
Of them all, Solvent-Based Ink acquired the largest market share in recent years and is anticipated to observe a significant hike during 2021-26. It owes principally to their benefits to reduce Volatile Organic Compounds (VOCs) and enhance the health & safety of the manufacturers & workers working with these inks.
Besides, these materials are more cost-effective and can be used in the formulation of different high-performance & advanced printing systems for better results. Owing to this, several market players are actively investing in solvent-based inks and, in turn, driving the global market.
On the other hand, the demand for Aqueous inks is anticipated to gain momentum in the coming years. These inks are applied using an offset printing process and are used for magazines, brochures, newspapers, plastic, & metals, among others. Moreover, aqueous inks use pigment dispersion technology to spread the ink particles and are easily applied with printing inks.
Nonetheless, UV-Cured Inks are anticipated to gain traction across regions like Europe during the forecast period. It owes principally to their swiftly growing demand in the digital printing sector as well as the packaging sector for labeling & printing requirements. Besides, several countries like Germany, Italy, etc., are actively participating in the market and developing bio-based UV-Curable inks, which shall display a plethora of growth opportunities for the leading market players in the coming years.
Geographically, the Global Next-Generation Printing Ink Market expands across:
Of them all, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. It owes principally to the massive & swiftly expanding packaging industry across the region, especially in countries like China, thereby displaying immense growth potential for the regional market.
Besides, China is seeking the adoption of rigid, flexible, and paper & board packaging materials & making a positive influence on the packaging industry and, in turn, instigating the demand for printing inks. Moreover, the region is also expecting significant expansion of the textile sector, which, in turn, would contribute to the overall market growth.
China is among the largest producers & exporters of textiles globally, which helps strengthen the region's textile industry & economy. Furthermore, the easy availability of labor & raw materials, hassle-free distribution pipeline, & reduced barriers giving a competitive edge to Asia-Pacific is another crucial aspect driving the Next-Generation Printing Ink Market across the region.
Recent Developments by Leading Players
In October 2019, market leader DuPont announced the launch of its new ink offerings for the digital textile market at the Kay Bailey Hutchison Convention Center in Dallas, Texas. These inks use innovative pretreatment technology and are designed for roll-to-roll printing to allow a stain-free printing & superior hand feel on cotton & polyester blends.
The rapid growth in the demand for flexible & unique packaging is also expected to drive the next-generation packaging ink market through 2026. With technological advancements, packaging inks offer benefits like lower inflammability & ease of cleaning. Hence, the use of color printing inks on different surfaces & materials for better appearance, glossy finish, enhanced performance & flow behavior is anticipated to surge the demand for next-generation printing inks substantially in the coming years.
Next-generation printing inks have extensive applications in the packaging of e-commerce products. Hence, with the surging prevalence of the e-commerce sector owing to the mounting inclination of people, especially the youth, toward online shopping, the demand for packaging inks is projected to rise significantly across the e-commerce sector in the coming years. Besides, with stringent policies by several food regulatory bodies worldwide, manufacturers must print details of the products right from manufacturing & expiration dates, ingredients, price, quantity, etc., on the packaging. As a result, it would also boost the next-generation packaging ink market in the years to come.
Growth Restraint: Stringent Regulations for Volatile organic compounds (VOCs) Emissions
Since manufacturing printing inks causes Volatile Organic Compounds (VOCs) emissions, the governments of different countries around the world are laying out stringent restrictions to create a safe working environment for the workers and address various concerns associated with the fumes released by these inks into the atmosphere. Hence, this might act as a prominent growth restraint for the Global Next-Generation Printing Ink Market during 2021-26.
According to MarkNtel Advisors, the major leading players in the Global Next-Generation Printing Ink Market are Mimaki Engineering Co., Ltd., Altana AG, Kornit Digital Ltd., DuPont de Nemours, Inc., Flint Group, DIC Corporation, Huntsman Corporation, Domino Printing Sciences PLC, FUJIFILM Holdings Corporation, Memjet, Sakata INX Corporation, Dover Corporation, HP Inc. (Hewlett-Packard), Roland DG Corporation, Sensient Technologies Corporation, Arrow Systems, Inc., Domino Printing Sciences plc, TOYO INK CO., LTD., Epson, Bühler Group
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global Next-Generation Printing Ink Market is projected to grow at a CAGR of around 8.24% during 2021-26.
A. The Packaging application is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Next-Generation Printing Ink Market during 2021-26.
A. The rapidly expanding food & beverages industry, growing prevalence of online shopping, and the swiftly escalating packaging industry with flexible printing inks are the prime aspects anticipated to drive the Global Next-Generation Printing Ink Market and generate lucrative growth opportunities for the leading industry players in the coming years.
A. With the betterment in the pandemic situation, several companies are actively investing in the Global Next-Generation Printing Ink Market and seeking product developments to promote their sustainable growth. It, in turn, shall enable the market to expand during the forecast period.