Gravure Printing Inks Market Growing Trade Among Emerging Economies Opening New Business-Opportunities
The global gravure
printing inks market was valued at US$ 3,227.1 Mn
in 2017 and is anticipated to expand at a CAGR of 4.3% from 2018 to 2026,
according to a new report titled ‘Gravure Printing Inks Market: Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by
Transparency Market Research (TMR) . The global gravure printing inks
market is driven by low per-unit costs offered by gravure printing.
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Rise in Demand for Gravure Printing Inks in Packaging Industry to
Drive Market
Growth of the packaging industry is the primary factor boosting
the global gravure printing inks market. Expansion of transportation and
packaging industries across the globe, especially in developing regions, and
rise in industrialization 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 key factor boosting the demand for gravure printing
inks. Gravure is a preferred printing process in the packaging industry due to
its ability to print on thin films such as polyester, nylon, and polyethylene.
This is estimated to fuel the demand for gravure printing inks across the globe
in the next few years.
Increase in Demand for Water-based Gravure Inks Expected to
Propel Market
Certain regions in the world have enacted environmental
regulations regarding emission of volatile organic compounds (VOC) from
solvent-based printing inks. Several countries around the globe are increasing
the usage of water-based inks in various printing applications in order to
comply with these environmental regulations. Led by their sustainability,
gravure inks are replacing solvent-based inks in various applications.
Rise in Application of Flexographic Inks to Restrain Market
Flexographic printing inks have been rapidly supplanting traditional
gravure printing inks. This is expected to act as a major factor restraining
the gravure printing inks market. Flexographic printing is replacing
conventional gravure printing in many regions, as these inks consume less ink,
require less manpower, and have fast changeover. Demand for flexographic inks
in several countries in North America and Europe has increased in the last few
years. This is hampering the gravure printing inks market in these regions.
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Nitrocellulose Resin Segment to Dominate Global Gravure Printing
Inks Market
The global gravure printing inks market has been segmented based
on resin, technology, application, and region. In terms of resin, the market
has been segregated into nitrocellulose, polyamide, polyurethane, acrylic, and
others (including polyester, maleic, ketonic, and polyvinyl). The
nitrocellulose segment dominated the gravure printing inks market in 2017.
Nitrocellulose is a basic substance used for ink formulations in
the mono- and bi-components form. The material is significantly used due to its
advantages such as easy drying; film forming ability; low cost; heat
resistance; solubility in alcohol-ethers mixtures, ketones, and esters; and
dilatability in hydrocarbons. It has low odor, good degree of dimensional
stability, and limited resistance to acids and alkalis.
Water-based Technology Segment Dominates Gravure Printing Inks
Market
Based on technology, the global gravure printing inks market has
been classified into water-based, solvent-based, and others (including
UV-curable). Solvent-based gravure printing inks are among the widely used
gravure inks in the world. This can be primarily ascribed to their ability to
dry quickly and ease of adaptation on various substrates. On the other hand,
water-based gravure printing inks are gaining momentum, as these inks comply
with several environmental regulations.
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High Degree of Competition among Market Players
High degree of competition exists among players operating in the
global gravure printing inks market. The market is dominated by a few major
players and is moderately consolidated. Prominent players operating in the market
include Flint Group, DIC Corporation, Tokyo Printing Ink MFG Co. Ltd., Sakata
Inx Corporation, Siegwerk Druckfarben Ag & Co. KGAA, Hubergroup Deutschland
GmbH, Dainichiseika Color & Chemicals Mfg. Co., Ltd., and Wikoff Color
Corporation.
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