NEW YORK, Sept. 27, 2016 /PRNewswire/ -- Printing inks are liquids that contain pigments or dyes that are used to produce images, text and designs with a printing machine. They are widely used in letterpress and lithographic printing. The printing inks industry comprises establishments which primarily engage in manufacturing printing and inkjet inks and inkjet cartridges.
The printing inks market was the tenth largest segment of the chemicals market, with a market value of $163bn and a 3.5% share of the market. The largest market segments in the chemicals sector as of 2015 were petrochemicals, plastics materials and resin and general chemicals products.
Asia was the largest geographic market in the printing inks market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because its sustained economic growth rate is leading to increasing demand for consumer goods, e-commerce, and packaged food which ultimately drive the printing inks industry. Europe was the second largest geographic market, accounting for $XX billion or XX% of the global market. The Americas was the third largest geographic market, accounting for $Xx billion or XX% of the global market.
Global per capita printing inks consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of increasing demand from the packaging industry.
The introduction of UV curable inks has increased automation in industries associated with manufacturing. UV curable inks do not contain any solvents that require evaporation during curing. UV curable inks have become an alternative for water-based inks due to their ability to fit over different substrates. They are widely used in the printing, publication and medical industries. According to a report by Adhesives Magazine, the UV curable inks market is expected to grow at a CAGR of 15.7% during 2015-19.
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