North America Printing Inks Market Dynamics, Segments and Supply Demand 2020-2030
North America Printing Inks Market: Introduction
In
terms of value, the printing inks market in North America is anticipated to expand at a
CAGR of ~3% from 2020 to 2030. Constant
growth in the food & beverages industry in North America has augmented the
demand for printing inks in the packaging segment of the market in the region.
The food & beverages industry is the leading end user of printing inks for
packaging and labeling of consumer goods in North America. Printing inks are
employed in a wide range of applications. Demand for bio-based printing inks is
estimated to rise in North America in the near future, as these inks do not
contain hazardous chemicals. Soy oil-based printing inks are utilized in
lithographic, flexographic, and gravure printing in North America. Furthermore,
inks manufactured by using soy oil allow ink pigments to penetrate the
substrate completely, thereby exhibiting better color vibrancy in the print.
This, in turn, drives the demand for bio-based printing inks in the region.
Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16943
Environmental Regulations on Printing Inks to Hamper
Market
Rise
in environment-related concerns associated with printing inks is expected to
hamper the market in North America in the near future. The number of safety
regulations has increased in the region in order to avoid adverse health
consequences resulting from intake of toxic substances. This factor is
estimated to adversely affect the printing inks market in the region in the
next few years. The trend of e-Commerce and e-books is growing at a significant
rate across the globe. This trend is creating a negative impact on the
publication & commercial printing industry in North America. Substantial
decrease in paper-based communication channels is projected to restrain the
printing inks market in the region during the forecast period.
COVID-19
has adversely impacted the global economy. The epidemic that originated in
China is spreading at an alarming pace in countries in North America,
especially the U.S. According to The National Association of Printing Ink
Manufacturers (NAPIM), the COVID-19 outbreak has adversely affected the supply
of raw materials used in the manufacture of printing inks. Industrial shutdown
in the U.S. has not only negatively affected the production of printing inks,
but has also hampered the sales of end-use products in the country. This is
likely to negatively impact the demand for printing inks in various end-use industries
in North America in the next few years.
Oil-based Products to Dominate North America Printing
Inks Market
In
terms of product, the printing inks market in North America has been divided
into solvent-based, water-based, oil-based, and UV cured. Of these, the
oil-based segment dominated the printing inks market in the region in terms of
revenue in 2019.
The UV cured segment is expected to be highly lucrative from 2020 to 2030.
The
solvent-based segment held considerable share of the printing inks market in
North America in 2019.
The demand for solvent-based and oil-based printing inks is expected to mature
in North America by 2030.
This, in turn, is anticipated to propel the adoption of innovative technologies
such as UV cured inks in the region.
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=16943<ype=S
Digital Printing Segment to Offer Lucrative
Opportunities
In
terms of application, the printing inks market in North America has been
classified into flexographic printing, gravure printing, lithographic &
offset lithographic printing, digital printing, screen printing, and specialty
printing. Of these, the lithographic & offset lithographic printing segment
dominated the printing inks market in the region in terms of revenue in 2019. The digital
printing segment is expected to be highly lucrative from 2020 to 2030. Digital
printing can be used on a wide range of substrates. Rise in sale of printers
for residential and office use in North America has been driving the digital
printing segment in the region.
Packaging to be Dominant End Use Segment of North
America Printing Inks Market
Based
on end use, the printing inks market in North America has been segregated into
packaging, publication & commercial printing, textiles, metal cans, and
others. The packaging segment held a major share of the printing inks market in
North America in 2019. It
is anticipated to continue its dominance in the market from 2020 to 2030. Printing
inks, which are derived from renewable sources, are employed primarily in
packaging of consumer goods such as food and beverages. This, in turn, is
driving the packaging segment of the market in North America.
U.S. to be Lucrative Country in North America Printing
Inks Market
Based
on country, the printing inks market in North America has been classified into
the U.S. and Canada. The printing inks market in the U.S. is projected to
expand at a CAGR of more than 2.5% during
the forecast period. The demand for printing inks in the U.S. is driven by
technological developments in the country. The U.S. is focusing on optimizing
the efficiency of raw materials and energy. The usage of biodegradable raw
materials has been rising in the manufacture of printing inks in the country.
The implementation of stringent regulations related to VOC emissions is
hampering the demand for traditional printing products such as oil and
solvent-based printing inks in North America.
Competition Landscape
Key
ink manufacturers dominated the printing inks market in North America in 2019. The
U.S. has been a lucrative country of the North America printing inks market in
the past few years. Leading players have taken initiatives to expand their
presence through acquisitions, expansion of production capacity, and strategic
partnerships. In July
2018, Sun Chemical acquired Cathay Industries Group’s
high-purity iron oxide pigments business located in Valparaiso, Indiana, the
U.S. The acquisition is estimated to help the company enhance its position in
the U.S.
In September 2018,
Wikoff Color Corporation signed an agreement to acquire the assets of
Cleveland-based Braden Sutphin Ink Company in order to expand its footprint in
North America. In September
2019, Siegwerk Druckfarben AG & Co. KGaA inaugurated a new
ink lab at Clemson University’s Sonoco Institute in South Carolina, the U.S.
Key
manufacturers operating in the printing inks market in North America are Sun Chemical Corporation, Siegwerk
Druckfarben AG & Co. KGaA, Electronics for Imaging, Inc., Flint Group,
Wikoff Color Corporation, Toyo Ink America, LLC, INX International Ink Co.,
Central Ink Corporation, Huber Group US, Inc., The Dow Chemical Company,
FUJIFILM Corporation, and Nazdar Ink Technologies.
Comments
Post a Comment