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LITHOGRAPHY INKS MARKET REPORT OVERVIEW
The global lithography inks market size was USD 7571.6 million in 2020 and will touch USD 9602.9 million by 2027, exhibiting a CAGR of 3.0% during the forecast period.
Lithography is a special printing method based on the principle of immiscibility of oil and water. During this process, a flat surface, preferably a smooth stone or metal plate, is printed on which the image to be printed is processed. This process uses a fatty substance that allows the ink to stick to the plate while the ink areas not associated with the image are turned into ink repellants. This method is used for printing on various services such as paper, metal sheets and cardboard. In the production of lithographic printing inks, raw materials such as resins, dyes, pigments and additives are used. Lithographic ink has a wide range of applications in the packaging industry and is also used in other industries such as automotive, textile and food and beverage.
The rapid growth of the packaging industry has been a key factor in the expansion of the global lithographic ink market. Product packaging is very important in terms of marketing and advertising because it has a significant impact on customer decision making. The biggest companies use better printing processes to package their products. The lithographic printing method is gaining popularity worldwide due to its versatility to print on many different substrates and improve print quality.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The outbreak of the COVID-19 pandemic is significantly affecting the global lithography ink market. Due to the COVID-19 pandemic, economic growth has slowed in almost all major countries, affecting spending patterns. Due to the lockout situation implemented in various countries, domestic and international transportation became difficult, which seriously affected the supply chain of several industries in various parts of the world, which widened the gap between demand and supply. Thus, inadequacy of raw material inventory is expected to hinder the production of lithographic inks, which will adversely affect market growth.
LATEST TRENDS
"Growing Demand For Bio-Based Lithographic Inks Will Drive Market Growth"
Growing demand for bio-based lithographic inks is an emerging trend shaping the growth of the market. Many major lithographic ink manufacturers are now choosing bio-based products as end-user demand for environmentally friendly inks increases in the packaging, publishing and printing paper industries. To comply with strict government regulations on the use of solvent-based inks, suppliers are focusing on manufacturing bio-based products. The use of bio-based inks in a range of applications such as packaging and household products has encouraged ink manufacturers to reduce their reliance on petroleum-based plastic products.
LITHOGRAPHY INKS MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into Water-based, Solvent-based, Others.
Dry deposition inks require a water-soluble glycol vehicle with water-insoluble resins dissolved in it. When water is applied to the material, the glycol is removed, but the resin (which contains the pigment) is not removed and is deposited on the surface of the paper.
A solution-based formulation is used in lithographic inks because it has several advantages. For example, circulating air around a solvent-based formulation helps minimize drying time by speeding up the reaction.
The solvent-based formulation has a thicker consistency, resulting in a more attractive print appearance that improves the appearance of the package. As a result of these considerations, the demand for solvent-based formulations of lithographic inks is increasing.
- By Application
Based on application the global market can be categorized into Commercial Printing, Packaging, Publication, Others.
Packaging will retain the largest share of the lithographic ink market during the forecast period. Lithographic inks are used in packaging because they are very effective in producing images or complex color details that require full color printing.
Lithographic inks are widely used in the packaging industry due to their excellent quality, low cost and adaptability. In addition, the increase in production in the packaging industry increases the demand for lithography ink. As a result, the use of lithography inks in packaging is driving market expansion.
Commercial Printing inks are used in the packaging industry to print packaging materials to attract customers, as it is one of the most effective ways to advertise and market products.
Inks were originally used mainly for printing publications such as newspapers and magazines.
DRIVING FACTORS
"Increasing Demand In Packaging Industry to Boost The Market Growth"
The packaging industry, led by the consumer goods, pharmaceutical and food industries, remains a major driver of lithography inks market growth. As more and more products require attractive packaging to attract customers, the demand for high-quality, vibrant and long-lasting printing inks is increasing. Continuous advances in printing technologies such as digital printing and UV curable inks are driving the market. Customization, shorter lead times and cost efficiency with short runs are all benefits of digital printing that affect ink composition and performance requirements. As people become more aware of environmental issues, the demand for eco-friendly and sustainable printing inks is increasing. Strict regulations on VOC emissions and hazardous substances force ink manufacturers to create formulations with the lowest environmental impact. The growth of online shopping has increased the demand for packaging such as corrugated boxes, labels and attachments. Therefore, there is a high demand for high-quality printing inks that can withstand handling, transportation and storage.
"Increasing Demand For Ceramics to Propel The Market Growth"
The market is expanding due to the growing demand for ceramics. Because the thick paste of lithographic inks improves the appearance of ceramics, lithographic inks are widely used in the ceramic sector to increase attractiveness. The demand for ceramic tiles is increasing worldwide with the increase in residential and commercial construction. In addition, the growing ceramic sector is projected to increase the demand for lithographic inks, which will contribute to the expansion of the market. According to the European Ceramics Industry Association, the European ceramics industry was worth $34.7 billion in 2019. As a result, the emerging ceramics sector is likely to fuel the market growth and contribute to the growth of the lithographic inks market during the forecast period. Commercial printing uses lithographic ink to improve the appearance and appeal of the ink at a low cost. Growing advertising demands of organizations across the globe and significant technological advancements are now driving the growth of the market. Businesses are increasingly using commercial printers for mass printing because they are more cost-effective and more productive. The growing commercial printing application of lithographic inks is driving the lithography inks market growth. As a result, the increased need for business promotion is pushing the industry forward.
RESTRAINING FACTORS
"Competition from digital technology to Impede Market Growth"
Alternative methods such as digital printing have emerged as a result of technological advances and can be more cost-effective for short runs and customization. Competition from digital technology can limit the growth of traditional printing methods and ink consumption. The lithography ink market is very competitive and many players offer a diverse range of products. As a result, producers may face price pressures and lower profit margins, especially in commodity markets.
LITHOGRAPHY INKS MARKET REGIONAL INSIGHTS
"North America to Dominate the Market due to Presence of Technical Advances"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America is expected to account for a significant lithography inks market share over the forecast years. This region, which includes the United States and Canada, has a significant market for lithographic inks. Packaging, publishing, advertising and textiles are the sectors driving the demand. The market landscape is shaped by technical advances, environmental regulations and a focus on sustainable inks. The growing demand for high-quality and customized printing, especially for packaging and labeling, is driving ink consumption.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The lithography inks market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- INX International Ink (U.S.)
- Flint Group (Luxembourg)
- Toyo Ink (Japan)
- DIC Corporation (Japan)
- Siegwerk Druckfarben (Germany)
- FUJIFILM Holdings America (Japan)
- HuberGroup (Germany)
- Tokyo Printing Ink (Japan)
- T&K Toka (Japan)
- Wikoff Color (U.S.)
INDUSTRIAL DEVELOPMENT
March 2023: DIC India Limited, a domestic manufacturer of inks, innovative packaging solutions and related materials, part of the DIC Group, a global leader in inks and packaging, has opened an Optima toluene-free liquid ink manufacturing facility at Saykha in Bharuch district, Gujarat. On an area of 92,500 m2, the production capacity of the plant in phase I is more than 10,000 liquid tons of TF, KF/NTNK ink (toluene-free/ketone-free) in two shifts. The factory continues to expand. production of special value-added products for domestic and export.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 7571.6 Million in 2020 |
Market Size Value By |
US$ 9602.9 Million by 2027 |
Growth Rate |
CAGR of 3% from 2020 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the lithography inks market expected to touch by 2027?
The global lithography inks market is expected to reach USD 9602.9 million by 2027.
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What CAGR is the lithography inks market expected to exhibit by 2027?
The lithography inks market is expected to exhibit a CAGR of 3.0% by 2027.
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Which are the driving factors of the lithography inks market?
Increasing demand in packaging industry, and Increasing demand for ceramics are some of the driving factors of the lithography inks market.
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What are the lithography inks market segments?
The lithography inks market segmentation that you should be aware of, which include, Based on type the lithography inks market is classified as Water-based, Solvent-based, Others. Based on application the lithography inks market is classified as Commercial Printing, Packaging, Publication, Others.