The North America printing inks market exhibits a moderately
fragmented competition due to presence of several large number of
players. Several companies are focusing on developing bio-based
printing inks in order to tackle challenges pertaining to regulatory
framework vying to curb the usage of toxic materials. Transparency
Market Research states that the leading players in the North America
printing inks market held a collective share of 65.7% in 2015. The
leading players in the market are Sun Chemical Corporation, INX
International Ink Co., Flint Group, Quad Graphics Inc., and Siegwerk
Druckfarben AG & Co. KGaA.
“Companies are likely to expand their reach to developing countries
of Asia Pacific that are show promise if growth in every sector,
which will have a direct impact on the demand for printing inks,”
states the lead author of this research report. According to the
research report, the opportunity in the North America printing inks
market is projected to be worth US$8.7 bn by the end of 2024 as
against US$5.3 bn in 2015. The analysts state that the overall market
is expected to progress at a CAGR of 5.70% between 2016 and 2024.
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Oil-based
Printing Inks to Remain Popular Products
The oil-based printing inks are expected to witness a remarkable rate
of consumption in the near future due to their extensive usage in
publication and commercial printing. During the period of 2016 and
2024, the oil-based printing inks segment is expected to expand at a
CAGR of 5.15%. Out of the two countries, the U.S. and Canada, the
former is expected to generate maximum demand for printing inks
during the forecast period. The report anticipates that the U.S.
printing inks market will exhibit a CAGR of 5.55% during the forecast
years.
Consumption
of Packaged Food Items offers Lucrative Opportunities to Printing
Inks Market
The continued growth of the packaging industry has had a critical
role to play in the North America printing inks market. The rising
disposable incomes, improving economies, and the emergence of various
business have fueled the packaging industry, which in turn has led a
remarkable demand for printing inks. Packaging is an integral part of
every sector which requires accurate labelling to ensure appropriate
sale of the final products. The growth of food and beverage industry,
health care sector, and other consumer goods as led a significant
uptake of printing inks all across North America. The market is also
benefitting from the high demand for UV-cured printing inks that are
used in printing applications such as inkjet, gravure, and
flexography. These printing inks are gaining popularity as they are
far more advantageous than the traditional printing inks. The demand
for UV-cured printing inks is expected to intensify in the coming
five years due to the stringent environmental regulations pertaining
to the usage of VOC inks.
Some of the other factors fueling the demand for printing inks the
are the rise of young population that has the capability to spend on
packaged food items, rising GDPs of several nations, and growing
investments in healthcare sector. Furthermore, the strong market
drivers of the packaging industry will also keep the sentiment in the
North America printing inks market upbeat for the next five years.
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Digitization
of Books becomes Market’s Toughest Challenge
The North America printing inks market is does face tough challenges.
The stringent regulatory prohibiting usage of inorganic solvents and
toxic metals such as lead, mercury, cadmium, and hexavalent chromium
is expected to restrain the growth of the overall market. The
regulatory framework suggests that the usage of these chemicals can
prove to be hazardous to human health. Furthermore, the emerging
trend of e-commerce and digitization of books is expected to reduce
the demand for printing inks in the publication sector. The loss of
paper-based communication is expected to be a major threat to the
North America printing inks market in the near future.
This review is based on Transparency Market Research’s report,
titled “Printing Inks Market? - North America Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
North
America Printing Inks Market: By Product
- Solvent-based
- Water-based
- Oil-based
- UV-Cured
North
America Printing Inks Market: By Application
- Flexographic Printing
- Gravure Printing
- Offset Printing
- Digital Printing
- Screen Printing
- Specialty Printing
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