Packaging Printing Ink Market Size Forecast Report 2021-2030: Global Research by Emerging Growth Factors, Development Strategy, Trend, Historical Analysis, Segmentation, Business Prospect with Covid-19 Impact

In a recent published report, Kenneth Research has updated the market report for Packaging Printing Ink Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Packaging Printing Ink Market products.

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According to the statistics by the Food and Agricultural Organization (FAO) of the United Nations, the total amount of pesticides used around the world grew from 3,089,827 tonnes in 2000 to 4,122,334 tonnes in 2018. Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The global packaging printing ink market is anticipated to reach USD 13.45 billion by 2026 according to a new study published by Polaris Market Research. Packaging printing inks market is driven by the tremendous growth of the global packaging industry. These printing inks are used on different packaging materials such as paper, plastics, metal, rubber, and others. Packaging printing inks also cater to the demand of large end-use industries for packaging such as food & beverage, pharmaceuticals, and industrial packaging.

The growth of the packaging industry is mainly led by numerous trends in different end-use sectors. Such as flexible packaging in food & beverage industry that is available for consumers with greater choice in pack sizes for portion control in snacks & confectioner segments of the food & beverage industry. Health-led consumption trends concerning bottle packaging is instrumental to gains in tandem with the consumer demand for safe packaging materials.

Different types of printing ink processes are used for applying packaging printing inks on to the substrates. Flexographic process has witnessed growth on account of its application in corrugated boxes, folding cartons, tag & labels, and narrow web. This has also resulted in higher growth for flexible packaging segment. Gravure is mainly used for paper print packaging materials.

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The global packaging printing ink market has also witnessed growth prospects on account of continuous technological developments. High color strength water-based flexo, 100% VOC free EB flexo, improved UV blocking packaging inks, and nanographic printing technology are among some of the recent developments in the field. Advancements in resin materials such as use of plant-derived resins in the formulation of these inks is also a significant contributing factor towards higher growth.

Packaging printing ink market is subjected to regulatory framework and policies as some of the ink formulations are known to have harmful impact. Food and pharmaceutical packaging are the most affected end-use segments if the ink formulation contains volatile organic compound or is a solvent-based ink. International agencies such as EPA, REACH, and Food and Agricultural Organization (FAO) have initiated and implemented different policies for the use of water-based or safe packaging printing inks.

Asia Pacific is a major regional market for the packaging printing inks market. China, Japan, and India are the major contributing nations towards the growth of this region in packaging printing ink market. Different regions of the world make use of different types of packaging printing inks processes. North America and Europe are also mature regional markets due to their advanced packaging industries.

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The global packaging printing ink market comprises of large multinational and domestic companies. Some of the key packaging printing ink market players include PPG Industries, Inc., AkzoNobel NV, Flint Group, Valspar Corporation, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co., ALTANA, Sakata, Toyo Ink, Nippon Paints, Arkema, and ColorMatrix.

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