Global Ink Market Outlook 2021-20206:
The global ink market reached a value of US$ 21.8 Billion in 2020. Looking forward, IMARC Group expects the global ink market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Ink has been around for centuries and plays a vital role in most aspects of human life. It can be in the form of a liquid or a paste and is primarily produced from materials like solvents, dyes, pigments, resins, lubricants, solubilizers, fluorescents and surfactants. It can be divided into two broad classes – printing and writing inks. Over the past few years, printing ink has witnessed a higher growth in demand as it is utilized for printing books, posters magazines, newspapers, calendars, journals and photographs.
The growth in the packaging industry represents the leading growth-inducing factor for the market as ink is widely used in the packaging of various products. Since packaging plays a pivotal role in attracting consumers, product manufacturers are investing in elaborative and unique packing solutions. In addition to this, due to stringent government regulations, it has become mandatory for the manufacturers of cosmetics, personal care products, food and beverages to include details like product price, quantity, ingredients, and date of manufacturing and expiry on the packaging. Moreover, on account of inflating income levels, easy availability of products and growing internet penetration, the e-commerce industry is flourishing at a robust rate, in turn, driving the demand for printing ink. However, with the digitalization of media, there has been a shift from print advertising to electronic channels in recent years. Despite a decline in its market growth, print advertising holds a significant share in the advertising industry as a large part of the consumers still subscribe to periodicals such as journals, newspapers and magazines.
IMARC Group provides an analysis of the key trends in each sub-segment of the global ink market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, technology, ink type, and application.
Breakup by Technology:
At present, lithographic ink accounts for the majority of the total market share owing to its affordability and superior quality.
Breakup by Ink Type:
Based on ink types, oil-based inks currently dominate the market, holding the biggest share.
Breakup by Application:
On the basis of applications, the label and packaging segment represents the largest application area. This can be accredited to the flourishing e-commerce, and food and beverage industries, especially in developing economies.
The market is negatively impacted due to the mass transmission of the coronavirus disease (COVID-19), lockdowns implemented by governments of various countries and unpredicted logistic constraints.
The global ink market reached a value of US$ 21.8 Billion in 2020.
According to the estimates by IMARC Group, the global ink market is expected to exhibit moderate growth during 2021-2026.
Ink is extensively utilized in the cosmetics and food and beverage (F&B) industries for the packaging of various products. This represents one of the key factors impelling the market growth.
Governments of several countries have implemented stringent regulations on packaging labelling. This, along with the increasing focus on the development of bio-based ink by leading manufacturers and the widespread usage of home printers, represents one of the major trends in the market.
Based on the technology, the market has been segmented into lithographic, flexographic, gravure, digital, letterpress and others.
On the basis of the ink type, the market has been segregated into oil-, solvent- and water-based.
The market has been categorized based on the application into label and packaging, commercial printing, publications, and others.
Region-wise, the market has been divided into Asia Pacific, North America, Europe and others.
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