Printing Ink Market to Reach US$ 42.63 Billion by 2034, as Demand Rising in Industrial Sector

High Demand for Visually Appealing Packaging in e-Commerce Sector Increasing Usage of Printing Inks: Fact.MR Report

ROCKVILLE, MARYLAND, UNITED STATES, May 9, 2024 /EINPresswire.com/ -- Sales of printing inks are increasing as they are vital for achieving vibrant shades, intricate designs, and readable text on packaging materials such as labels, boxes, and flexible packaging. As per Fact.MR’s new study, the global printing ink market is set to reach a valuation of US$ 25.19 billion in 2024 and is forecasted to expand at 5.4% CAGR through 2034.

Printing ink demand growth has been strong demand from industries such as packaging, publishing, advertising, textiles, and labels. Due to the growth of the e-commerce sector, there is an increasing need for high-quality packaging and labeling solutions, which is driving global demand for printing inks. Furthermore, the expansion of the publishing and advertising industries, along with rising consumer expenditure on printed materials, is additionally fueling the growth of the printing ink market.

One of the primary reasons for the rising demand for printing inks is undoubtedly the expansion of the packaging industry, driven by factors such as the growth of consumer packaged goods and e-commerce. In the current digital era, packaging not only acts as a protective covering but also serves as a marketing tool, communicating brand identity and product details to consumers.

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Key Takeaways from the Market Study

The global printing ink market is projected to expand at a CAGR of 5.4% through 2034. The market is forecasted to reach US$ 42.63 billion by the end of 2034. The North American market is forecasted to expand at a CAGR of 5.6% from 2024 to 2034.

East Asia is projected to account for 38.4% of the global market share by 2034. Sales of water-based printing inks are estimated to reach US$ 7.94 billion in 2024. Demand for oil-based printing inks is projected to reach US$ 9.63 billion by 2034-end.

“Crude oil price fluctuations directly impact the production and final cost of printing inks, as it is an important component in their formulation. Nevertheless, the adoption of digital printing and the shift toward environmentally friendly inks are driving market growth,” says a Fact.MR analyst.

Market Benefitting from Innovation and Technology Advancements in Printing Ink Formulations

Recent progress in printing ink innovation is transforming the industry, paving the way for more efficient, flexible, and eco-friendly solutions. A key innovation is UV-curable inks, offering quicker drying, superior adhesion to different materials, and enhanced durability against fading and abrasion. Nanotechnology integration is enabling the manufacturing of inks with ultra-fine pigments, resulting in sharper imagery and finer particulars.

Water-based and bio-based inks are also becoming popular due to their environmentally friendly qualities, low volatile organic compound compounds, and compatibility with diverse printing uses. Moreover, the introduction of digital printing technologies such as inkjet and electrophotography is increasing popularity for customization, personalization, and on-demand printing. These innovations are not just improving print quality and efficiency but also promoting sustainability and reducing environmental impact.

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Innovations Driving Growth: Printing Ink Market Trends in Packaging and Textiles

In the packaging industry, aesthetics play a vital role in product presentation and brand identity. Printing inks are essential for compliance with strict regulatory requirements concerning product information. With increasing environmental concerns, there's a shift towards inks with fewer bio-based components and lower VOC emissions. In food packaging, printing inks find extensive use on materials like carton board, plastic, and paper.

The e-commerce sector's expansion is a significant driver behind the growing sales of printing inks. Particularly in East Asia, the booming e-commerce industry, fueled by a large population and evolving consumer preferences, is pushing for branded packaging. Many e-commerce platforms mandate their retailers to use branded packaging, necessitating printing inks for customization and branding purposes.

Efficient digital textile printers are increasingly preferred by consumers, leading to the adoption of digital printing technology in the textile industry. This trend, prominent in developed countries, contributes to the overall growth of the printing ink market. Europe and Asia are key hubs for digital textile printing inks, catering to the needs of fabric manufacturers as printer technology continues to evolve rapidly.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the printing ink market, presenting historical demand data (2018 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on formulation (solvent-based, water-based, oil-based), product type (lithographic, flexographic, gravure, digital, letterpress), and application (labels & packaging, commercial printing, publication), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

Explore More Studies Published by Fact.MR Research:

3D Printing Plastics Market: The global 3D printing plastics market is projected to rise at a prolific CAGR of 20% through 2028. At present, photopolymers lead with 50% share of the global market.

Digital Textile Printing Ink Market: The global digital textile printing ink market size is projected to attain a value of US$ 4.16 billion by the end of 2034, up from US$ 1.26 billion in 2024.

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