Printing inks are pastes or liquids that are used to color a surface to produce text, a design, or an image. These inks contain dyes or pigments that are widely used to color newspapers, cardboard, ceramic tiles, and books and magazines. The dyes or pigments of these inks are mixed with water, oil, or solvents to form liquids or pastes. Such inks are used in the labeling and packaging, publication, and commercial printing applications all over the world.
The surging consumption of packaged food items, on account of the changing lifestyle and increasing work pressure, will steer the APAC printing inks market at a CAGR of 4.6% during 2018–2023. According to P&S Intelligence, the market has the potential to reach $7,000.2 million by 2023 from $5,344.1 million in 2017. Moreover, the escalating gross domestic product (GDP) of APAC nations, soaring disposable income of people, and booming youth population will fuel the consumption of packaged food items, which is a key application area for printing inks.
Over the last few years, flexography inks have replaced traditional inks due to the growth of the food and beverage, cosmetics, printing, and packaging industries. Flexography inks offer more printing options, through an array of colors, than traditional inks. Unlike traditional inks, flexography inks can be used on non-absorbent materials. Moreover, the growing awareness about high-quality flexible packaging and booming sales of packaged consumer products, owing to the soaring disposable income and changing lifestyles, are fueling the use of printing inks in APAC.
With the rising preference for flexography inks, DIC Corporation, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co. Ltd., Sakata INX Corporation, Daihan Ink. Co. Ltd., T&K Toka Co. Ltd., Yip’s Chemical Holdings Ltd., Hubergroup India Pvt. Ltd., and SICPA have started adding these inks to their product portfolio. These companies are also involved in the production of sheetfed, coldest web, and heatset web offset lithographic inks, electrography and inkjet digital inks, gravure inks, and letterpress inks.
Thus, the rising uptake of packaged food items and growing packaging sector in APAC will boost the consumption of printing inks in the region.