Specialty Ink Market Overview
The Global Specialty Inks Market is projected to develop at a CAGR 5.75% to arrive at USD 770.46 million by 2027.
The specialty ink market is likely to grow at a healthy CAGR, reveals the new Market Research Future (MRFR) report. Specialty inks are special-purpose inks intended to cater to the needs of distinguished applications. Entertainment, safety and security, flexible packaging, printing and publication, and others are some of its key applications.
Numerous factors are adding to the specialty ink market demand. Such factors, as revealed by the latest MRFR report, include its increasing applications in carbon copy paper printing ink, metallic shade inks, cheque printing, security printings, and others, and increasing cases of fake branding, counterfeit, forgery, and document breaching.
On the contrary, fluctuations in crude oil prices, shift to the digital market, and cost-intensive nature of new technologies are factors that may limit the specialty ink market growth over the forecast period.
Specialty Ink Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the specialty ink market based on application, resin type, and type.
By type, the specialty ink market is segmented into photochromic and thermochromic. Of these, the thermochromic segment will lead the market over the forecast period for its increasing application in the safety and security of confidential documents. This ink has the potential to protect documents against duplications, counterfeit, forgery, and fake validation of the brand.
By resin type, the specialty ink market is segmented into hydrocarbon, polyurethane, polyamide, cellulose, acrylic, modified resin, and others. Of these, the modified resin segment will dominate the market over the forecast period for its ease of operation and flexibility of application. Besides, there is an increase in research activities to develop innovative inks to cater to every increasing scope of application in the market.
By application, the specialty ink market is segmented into entertainment, safety and security, flexible packaging, printing and publication, and others. Of these, printing and publication will have a major share in the market over the forecast period for the burgeoning demand for flexible packaging, vast spread print media, and increasing supermarket shopping trends. Meanwhile, the safety and security segment will grow at a considerable rate for its increasing demand for protecting the integrity of security institutions.
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Specialty Ink Market Regional Analysis
By region, the global specialty ink market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will have the lions share in the market over the forecast period for the dynamic growth coupled with increasing industrialization of emerging economies in South Korea, China, Japan, and India. India & China are the key contributors in the region for the burgeoning demand for such inks from expanding application base.
The specialty ink market in North America will hold the second-largest share during the forecast period. The US is the key contributor in the region for document safety applications, growing food and beverage industry, and burgeoning demand for packaged food & other retail products.
The specialty ink market in Europe will have significant growth over the forecast period. Switzerland, Germany, France, and the UK are the key contributors in the region.
The specialty ink market in Latin America is predicted to have healthy growth over the forecast period for the increasing potential exhibited by Mexico and Brazil and the reviving economy.
The specialty ink market in the MEA is predicted to have notable growth over the forecast period for huge growth opportunities provided by the tourism industry.
Specialty Ink Market Key Players
Key players profiled in the global specialty ink market report include Royal Dutch Printing Ink Factories Van Son (the Netherlands), T&K TOKA Corporation (Japan), Bordeaux Digital PrintInk Ltd. (Israel), Huber Group Holding SE (Germany), Siegwerk Druckfarben AG & Co. KGaA (Germany), DAIHANINK Co., Ltd. (South Korea), TOKYO PRINTING INK MFG CO., LTD. (Japan), Toyo Ink International Corp. (U.S.), Sun Chemical (U.S.), and IIMAK (U.S.).
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