Metallic Printing Inks Market size is forecast to reach $2.4 billion by 2025 after growing at a CAGR of 5.2% during 2020-2025. Metallic printing ink is a type of ink containing metallic particles. After printing, when the metallic ink is left to dry, the metallic particles rise to the surface, reflecting light and creating a metallic sheen. The growth of the market of metallic printing inks is expected to be driven by the high demand from the packaging industry.
By Product Type-Segment Analysis
Copper segment held the largest share in the metallic printing inks market in 2019. Copper Inks are suitable for printing in flexible electronics. Its properties such as oxidation free, and rapid self-sintering in air environment makes it prominent product type. Nano Copper particles, make it possible to print in high conductivity, low-cost printed electronics, using standard printing equipment on a range of substrates. Copper inks are fully compostable, minimizing the ecological footprint for sustainable printed green circuits. It enables high precision additive screen printing of conductive patterns on a range of substrates including paper, fabrics, PET, PI and HJT PV cells. Copper ink has benefits of easy, high throughput, economical, fabrication of single- and double-sided flexible electronics. It is based on proprietary nano copper fabrication processes that yield substantial ink cost reductions relative to alternative nano-Copper particle vendors.
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By Formulation- Segment Analysis
Solvent-based formulation held the largest share in the metallic printing inks market in 2019. Solvent-based formulation plays an essential role in drying solvent-based inks in the process of manufacture of packaging material. It is carried out at the converter’s end. The solvent drying method is essential to avoid the migration of retained solvent in the final packaging material into the product, as the latter may be harmful for human health and also impact the organoleptic properties of the product. Solvent-based formulation are primarily used for printing products that are to be employed outdoors due to their ability to adhere to non-absorbent materials. Solvent-based formulation are fade proof, scratch resistant, and waterproof, therefore, these are suitable for outdoor printing applications. Solvent-based formulation take lesser time to dry compared to other organic solvent-based and water-based. This, in turn, increases their usage among end-users. This factor will drive the growth of solvent-based formulation market in the forecast period.
By Application - Segment Analysis
Packaging sector has been the primary market for metallic printing inks in 2019. The growth is augmented due to the high demand for food packaging and the growing trend of digital data printing on food packages to communicate the shelf-life, composition, and nutritional value of the product. Economic growth in emerging economies has emerged as a boon to the food and beverage industry. Processed foods, packaged foods, and ready-to-go meals are becoming common to serve the changing lifestyle in emerging economies. Demand for special foods such as gluten free foods and lactose free foods are revving up growth of the food and beverage industry. Diabetic food, food for lactating mothers, and iron fortified food are some other special foods that serves to boost the food and beverage industry. Due to the recent economic meltdown, consumers are looking to save as much money as possible. One major way that consumers are doing so is by purchasing more packed foods and making their own meals, not going out to eat. This is causing food processing companies to become more innovative to decrease the cost of goods sold, attract more customers, and increase profit margins. This factor directly propels the packaging sector, thus it will drive the growth of the metallic ink market in the forecast period.
By End Use – Segment Analysis
Food and Beverages sector has been the primary market for metallic printing inks in 2019 growing at a CAGR of 12%. Food and beverages is the biggest of the consumption categories. The F&B sector is supported by the vast agriculture sector. APAC is the fastest growing region in terms of value and volume. Middle East & Africa was the second fastest growing region. This region also holds the second spot for strongest forecast growth for 2017-26 at 7.3% per annum. The ongoing global pandemic has left no sector untouched by its wave of impacts. The food and beverage industry is responding to the ongoing crisis by bracing itself for Corona virus (COVID-19) impacts. Companies are forestalling supply chain interruptions. A minor proportion of food ingredients are exported globally from China, but processors are still bracing for impact by scouting for substitute sources to avert supply chain interludes. Some beverage companies have had to navigate suspensions in their supply of artificial sweeteners that are usually sourced from China. This may marginally impact the sales of sugar-free and diet beverages. However, due to the current closure of restaurant and hotel establishments, this impact is expected to go unnoticed. This factor will hamper the growth of the food and beverage market for the year 2020.
By Geography-Segment Analysis
APAC dominates the metallic printing inks market with a share of 42% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the textile industry. The metallic printing inks are used in the textiles printing. Textile printing is the method of applying color to fabric to make decorative patterns in a uniform way. Textiles are utilized in different areas of household applications, some of which include bedding, kitchen products, upholstery, and towels and others. The factors such as high reliability, uninterrupted printing, cost-effective production, and design versatility contribute positively to the textiles industry. The abundance of natural fibers, especially cotton, in China, India, and the United States, is contributing significantly to the growth of the global textile sector. The demand for textiles is growing, on account of the strong demand base of developed countries coupled with the strengthening demand from developing economies. However, the production is highly concentrated both in terms of geography as well as in terms of market players. Lower manufacturing costs, cheap and skilled labor force are creating opportunities for the emerging markets. Rising awareness among the consumers, rapidly growing middle class, increasing disposable income the global textiles industry will gain momentum over the forecast period. Ongoing advancements in fashion and apparel industry coupled with changing demographics and consumer demand are anticipated to boost the textile market over the forecast period.
Driver-Metallic Printing Inks Market
The advanced properties of Flexible Packaging is driving its demand which in turn will augment the market in the forecast period.
The process of producing metallic printing inks, the prime solvent utilized is metal. However, the inks may also contain various co-solvents. These co-solvents are used to decrease the time and heat required for curing ink film on fabric. Metal printing inks are popular due to its color, flow behavior, good surface appearance, performance, and gloss. All these features are fueling growth in the global metallic printing inks market. Along with this, metallic printing ink products have lower inflammability ratings and easier to clean, thanks to the rapid advancements in technology. Furthermore, soaring demand for unique printing inks and rapid growth in flexible packaging are also the major factors contributing demand in the global metallic printing inks market. Rapid use of metallic printing inks helps in reducing the amount of hazardous waste. Therefore, growing environment and safety issues is also providing major driver to the growth of the global metallic printing inks market in the forecast period.
The rise in online shopping and growth of the packaged food industry will drive the market in the forecast period
Metallic Printing inks are used in the e-commerce packaging for printing. The growth in the e-commerce industry will subsequently lead to a growth in demand for metallic printing inks. In the global scenario, e-commerce is a largely preferred retail format especially among the young shoppers who are inclined towards online shopping through their smartphones. E-commerce and m-commerce have witnessed a rapid proliferation across the globe, and this has augmented the need for e-commerce packaging. Vendors operating in the regional market are aligning their businesses with the current market expectations and are bringing in greater innovation and enhanced quality in the packaging of their products to meet customer expectations.
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Challenges- Metallic Printing Inks Market
Strict government regulations against VOC emissions will hamper the market growth
Metallic Printing Inks used in industrial printing, affect the environment in various ways. Vent fumes are fumes released by the inks into the atmosphere during printing. These fumes can be harmful when inhaled. Metallic Printing inks create problems after they are discarded. The U.S. Occupational Safety and Health Administration provides guidelines for worker safety in the print industry, such as wearing protective gloves and masks when handling potentially harmful chemicals. Environmental regulation falls to the U.S. Environmental Protection Agency, which sets pollution level standards for the chemicals used to print. Metallic printing inks are used in the commercial industry contain VOC's in varying amounts depending on the drying and printing process, substrate and end-use requirements. The regulations of using printing ink will hamper the growth of the metallic printing inks market in the forecast period.
Takes large amount of time to be cured when compared with non-water based printing inks
Metallic printing inks take considerably large amount of time to be cured when compared with non-water based printing inks. The metallic printing inks printed on a surface, certain temperature must be reached and held to completely dry the solvent used for printing. Though the printer can print the desired image quality and image onto a wide range of substrates, they cannot be done simultaneously, reducing the speed of the printer. This creates an obstacle to used metallic printing inks, thereby restraining the growth of the market.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the metallic printing inks market. In 2019, the market of metallic printing inks has been consolidated by the top five players accounting for XX% of the share. Major players in the metallic printing inks market are Flint Group, Sun Chemical Corporation, Altana AG, Siegwerk Druckfarben AG & Co. KGaA, Superior Printing Inks and Others.
Acquisitions/Technology Launches/Product Launches
In June 2017, ALTANA AG, has acquired the pigments business of the British company Wolstenholme Group Ltd. The purchase price for the business is €24 million. The acquisition was subjected to approve by the antitrust authorities. The acquired business comprises bronze and aluminum printing inks based on these pigments for the graphic arts, coatings and plastics industries.
Key Takeaways
Asia-Pacific dominates the metallic printing inks market owing to increasing demand from Textile Industry and Packaging Industry.
The growth in demand and consumption for packaging will drive the growth of the market in the forecast period.
Stringent regulations imposed regarding product use in food & beverage industry is likely to hamper the growth of the market in the forecast period.
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