The global gravureprinting inks market was valued at US$ 3,227.1 Mn in 2017 andis anticipated to expand at a CAGR of 4.3% from 2018 to 2026, according to anew report titled ‘Gravure Printing Inks Market: Global Industry Analysis,Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published byTransparency Market Research (TMR) . The global gravure printing inksmarket is driven by low per-unit costs offered by gravure printing.
Rise in Demand for Gravure Printing Inks inPackaging Industry to Drive Market
Growth of the packaging industry is the primary factor boosting theglobal gravure printing inks market. Expansion of transportation and packagingindustries across the globe, especially in developing regions, and rise inindustrialization are augmenting the global gravure printing inks market.Gravure printing inks can be used in printing materials such as polyester,oriented polypropylene (OPP), nylon, and polyethylene (PE). This is also a keyfactor boosting the demand for gravure printing inks. Gravure is a preferredprinting process in the packaging industry due to its ability to print on thinfilms such as polyester, nylon, and polyethylene. This is estimated to fuel thedemand for gravure printing inks across the globe in the next few years.
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Increase in Demand for Water-based GravureInks Expected to Propel Market
Certain regions in the world have enacted environmental regulationsregarding emission of volatile organic compounds (VOC) from solvent-basedprinting inks. Several countries around the globe are increasing the usage ofwater-based inks in various printing applications in order to comply with theseenvironmental regulations. Led by their sustainability, gravure inks arereplacing solvent-based inks in various applications.
Rise in Application of Flexographic Inks toRestrain Market
Flexographic printing inks have been rapidly supplanting traditionalgravure printing inks. This is expected to act as a major factor restrainingthe gravure printing inks market. Flexographic printing is replacingconventional gravure printing in many regions, as these inks consume less ink,require less manpower, and have fast changeover. Demand for flexographic inksin several countries in North America and Europe has increased in the last fewyears. This is hampering the gravure printing inks market in these regions.
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Nitrocellulose Resin Segment to Dominate GlobalGravure Printing Inks Market
The global gravure printing inks market has been segmented based onresin, technology, application, and region. In terms of resin, the market hasbeen segregated into nitrocellulose, polyamide, polyurethane, acrylic, andothers (including polyester, maleic, ketonic, and polyvinyl). Thenitrocellulose segment dominated the gravure printing inks market in 2017.Nitrocellulose is a basic substance used for ink formulations in the mono- andbi-components form. The material is significantly used due to its advantagessuch as easy drying; film forming ability; low cost; heat resistance;solubility in alcohol-ethers mixtures, ketones, and esters; and dilatability inhydrocarbons. It has low odor, good degree of dimensional stability, andlimited resistance to acids and alkalis.
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Water-based Technology Segment Dominates GravurePrinting Inks Market
Based on technology, the global gravure printing inks market has beenclassified into water-based, solvent-based, and others (including UV-curable).Solvent-based gravure printing inks are among the widely used gravure inks inthe world. This can be primarily ascribed to their ability to dry quickly andease of adaptation on various substrates. On the other hand, water-basedgravure printing inks are gaining momentum, as these inks comply with severalenvironmental regulations.
Asia Pacific Dominates Global Gravure Printing InksMarket
In terms of region, the global gravure printing inks market has beendivided into North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa. The gravure printing inks market in Asia Pacific isprojected to expand significantly during the forecast period owing to thegrowth in lamination and food packaging industries in the region. Increase indemand for processed and canned food in emerging countries such as China andIndia is likely to positively impact the market in the region. Rise indisposable income has augmented the demand for interior designing withcustomized wallpapers. This is slated to drive the demand for gravure printinginks. Europe is anticipated to remain a key regional market owing to the risein demand for commercial printing in the region. The gravure printing inksmarket in North America is expected to expand significantly during the forecastperiod due to the technological advancements in these inks.
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High Degree of Competition among Market Players
High degree of competition exists among players operating in the globalgravure printing inks market. The market is dominated by a few major playersand is moderately consolidated. Prominent players operating in the marketinclude Flint Group, DIC Corporation, Tokyo Printing Ink MFG Co. Ltd., SakataInx Corporation, Siegwerk Druckfarben Ag & Co. KGAA, Hubergroup DeutschlandGmbH, Dainichiseika Color & Chemicals Mfg. Co., Ltd., and Wikoff ColorCorporation.
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