Global Ink Market to Grow at 3.24% During 2023-2028, Stimulated by Introduction of Bio-Based Inks

According to the latest report by IMARC Group, titled “Ink Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global ink market size reached US$ 19.8 Billion in 2022. Ink is a liquid, or a paste used to color a surface to produce an image, text, or design using pigments, dyes, resins, lubricants, solubilizers, fluorescents, and surfactants. It plays a vital role in most aspects of human life, as it is used to print newspapers, magazines, calendars, books, and product information on the packaging. In recent years, the increasing use of household printing devices has added to the growth of the global ink market.

Global Ink Market Trends:

Ink finds applications in diverse industries across the globe. A significant increase in on-the-go food consumption has led to a rise in the demand for single-serve ready-to-go food products. As a result, there has been an expanding application of ink in the food packaging industry. Apart from this, the demand for ink is rising from the publishing industry as thicker inks, in the form of a paste, are extensively used in letterpress and lithographic printing. Furthermore, the governments have made stringent regulations regarding printing details on the back of cosmetics, personal care, food and beverages and other products. Moreover, the growing environmental awareness among consumers has encouraged manufacturers to develop bio-based ink produced from algae cells and other plant materials. Some of the other major drivers are constant innovations in the development of inks that facilitate paper recycling, advancements in ink producing technologies, the growing usage of home printers, and easy availability of raw materials. Looking forward, the market is expected to exhibit a CAGR of 3.24% during 2023-2028.

Market Summary:

• Based on technology, lithographic inks account for the majority of the total market share. Other major segments are flexographic, gravure, digital, letterpress and others.
• On the basis of the ink type, the market has been segregated into oil-, solvent- and water-based inks. At present, oil-based inks dominate the market, holding the largest share.
• The market has been categorized based on the application into label & packaging, commercial printing, publications and others. Amongst these, the label & packaging segment represents the largest application area.
• Region-wise, Asia Pacific holds the leading position in the market. Other major regions are North America and Europe.
• The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the industry.

Report Scope:

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