New York City, 07 February 2019: The global Packaging Printing Ink Market is anticipated to reach USD 13.45 billion by 2026 according to a
new study published by Polaris Market Research. Packaging printing inks market
is driven by the tremendous growth of the global packaging industry. These
printing inks are used on different packaging materials such as paper,
plastics, metal, rubber, and others. Packaging printing inks also cater to the
demand of large end-use industries for packaging such as food & beverage,
pharmaceuticals, and industrial packaging.
The growth
of the packaging industry is mainly led by numerous trends in different end-use
sectors. Such as flexible packaging in food & beverage industry that is
available for consumers with greater choice in pack sizes for portion control
in snacks & confectioner segments of the food & beverage industry.
Health-led consumption trends concerning bottle packaging is instrumental to
gains in tandem with the consumer demand for safe packaging materials.
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Different
types of printing ink processes are used for applying packaging printing inks
on to the substrates. Flexographic process has witnessed growth on account of
its application in corrugated boxes, folding cartons, tag & labels, and
narrow web. This has also resulted in higher growth for flexible packaging
segment. Gravure is mainly used for paper print packaging materials.
The global
packaging printing ink market has also witnessed growth prospects on account of
continuous technological developments. High color strength water-based flexo,
100% VOC free EB flexo, improved UV blocking packaging inks, and nanographic
printing technology are among some of the recent developments in the field.
Advancements in resin materials such as use of plant-derived resins in the
formulation of these inks is also a significant contributing factor towards
higher growth.
Packaging
printing ink market is subjected to regulatory framework and policies as some
of the ink formulations are known to have harmful impact. Food and
pharmaceutical packaging are the most affected end-use segments if the ink
formulation contains volatile organic compound or is a solvent-based ink.
International agencies such as EPA, REACH, and Food and Agricultural
Organization (FAO) have initiated and implemented different policies for the
use of water-based or safe packaging printing inks.
Competitive Landscape and Key Vendors:
Asia Pacific
is a major regional market for the packaging printing inks market. China,
Japan, and India are the major contributing nations towards the growth of this
region in packaging printing ink market. Different regions of the world make
use of different types of packaging printing inks processes. North America and
Europe are also mature regional markets due to their advanced packaging industries.
The global
packaging printing ink market comprises of large multinational and domestic
companies. Some of the key packaging printing ink market players include
PPG Industries, Inc., AkzoNobel NV, Flint Group, Valspar Corporation, Sun
Chemical Corporation, Siegwerk Druckfarben AG & Co., ALTANA, Sakata, Toyo
Ink, Nippon Paints, Arkema, and ColorMatrix.
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