The global packaging printing ink market size is expected to reach USD 13.90 billion by 2028 according to a new study by Polaris Market Research. The report “Packaging Printing Inks Market Share, Size, Trends, Industry Analysis Report, By Substrate (Paper, Metal, Plastic, Others); By Printing Process; By End-Use; By Region; Segments & Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The packaging inks industry is driven by the tremendous growth of the global packing industry. These dyes are used on different wrapping materials such as paper, plastics, metal, rubber, and others. Packing dyes also cater to the demand of large end-use industries for packing such as food & beverage, pharmaceuticals, and industrial packaging.
The growth of the packing industry is mainly led by numerous trends in different end-use sectors. Such as flexible packing to cater to the consumer with portion quantity with different choices. Health-led consumption trends concerning bottle packing are instrumental to gains in tandem with the consumer demand for safe packing materials.
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The packing ink market is subjected to regulatory framework and policies as some of the ink formulations are known to have a harmful impact. Food and pharmaceutical packaging are the most affected end-user segments if the ink formulation contains volatile organic compound or is a solvent-based ink.
The Asia Pacific is a major regional segment for the packing inks industry. China, Japan, and India are the major contributing nations towards the growth of this region in the packing ink industry. Different regions of the world make use of different types of packing inks processes. North America and Europe are also mature regional markets due to their advanced packing industries.
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The industry is highly competitive with global companies competing and focus on mergers, acquisitions, and product portfolio expansion to gain a competitive edge. Some of the key packing ink market players include AkzoNobel NV, PPG Industries, Inc., Valspar Corporation, Flint Group, Siegwerk Druckfarben AG & Co., Sun Chemical Corporation, Toyo Ink, ALTANA, Sakata, Arkema, Nippon Paints, and ColorMatrix.