Transparency Market Research (TMR) observes that the global market for gravure printing inks is highly fragmented and competitive by nature. Few companies such as Flint Group, Sun Chemical Group, Sakata INX, Huber Group, Siegwerk Druckfarben AG & Co. KGaA, and Toyo Ink Mfg. Co. Ltd. are accounting for the higher share of about 75% in the overall market. These players are increasingly investing in the research and development activities for innovation in ink and reduction of operational and product cost. These players are increasingly taking part in strategies such as joint ventures, acquisitions, mergers, and partnerships in order to widening their product offerings.
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According to TMR, the global gravure printing inks market was valued at US$1.8 bn in 2015 and expected to expand with 3.98% over the forecast period from 2017 to 2022 to attain a value of US$2.6 bn by the end of 2022. Based on the product, the solvent-based gravure printing ink segment dominated the global market by accounting the revenue of over US$1.0 bn in 2015. Based on the region, the market in Asia Pacific dominates the market. In 2015, the region accounted for 40.0% of the global revenue. However, the Latin America is expected to gain faster growth and expand with faster CAGR over the forecast period.
The growth of the packaging industry is primary factor boosting growth of the global gravure printing inks market. Emerging transportation and packaging industry globally and especially in the developing region, the growth of industrialization is augmenting growth of the global gravure printing inks market. The gravure printing inks can be used in the printing materials such as polyester, OPP, nylon, and PE. This is a key factor boosting demand for gravure printing inks and likely to growth of the global gravure printing inks market in a great extent.
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Additionally, the growth of the market is also attributable to the popularity of e-books and e-papers, also, the adoption of inks by the publication industry was another key driver of demand for gravure printing inks. This is another important factor boosting growth of the market in upcoming years.
Higher growth of the gravure printing inks market attributable to the surging uptake of flexographic printing as it is rapidly supplanting traditional gravure printing. These offer the lowering requirement for manpower, lesser consumption of ink, and faster changeovers. Additionally, the growing adoption of gravure printing inks mainly in the emerging countries such as India and China in Asia Pacific. This growth is attributable to the growing adoption of the gravure printing inks in numerous applications.
This information is based on the new report by TMR, titled “Gravure Printing Inks Market (Product – Solvent-based Gravure Printing Inks, Water-based Gravure Printing Inks; Application – Food Packaging, Wallpapers, Wrapping Paper, Furniture Laminates, Greeting Cards, Magazines, Newspaper) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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