The global printing inks market portrays a sizeable diversity owing to the presence numerous players, says Transparency Market Research, based on a newly published report. With the number of players expected to increase in the near future, the competition is anticipated to expand and become intensified. Most players in this market are focusing on improving product quality, expanding product portfolio, as well as achieving extensive geographical reach. These three key strategies are foretold to make many players open up new avenues for revenue generation.
Zeller+Gmelin GmbH & Co. KG, Sun Chemical Corporation, Sakata INX Corporation, TOYO Ink Group, Siegwerk Druckfarben AG & Co. KGaA, Royal Dutch Printing Ink Factories Van Son, Flint Group, Huber Group, T&K TOKA Corporation, ALTANA AG, and Wikoff Color Corporation, are key players operating in the global printing inks market. As per expert analyst, the global printing inks market is envisaged to gain revenue worth US$20.17 by 2020.
Regressing Publishing Industry Hampers Ink Products’ Demand
However, a substantial decline in the publishing industry is majorly restraining the global printing inks market. This is mainly due to a high requirement of printing inks existing in this industry in order to publish content and material for advertising and manufacturing books and magazines. With an increasing dependence on gadgets and smart devices, material that existed in published form now can be accessed using the former source. This factor has had a substantial depreciating effecting on the use of published material, thus posing as a prime obstacle to the market’s growth. However, many publishing organizations as well as other packaging industries are introducing innovative products and services. This is soon expected to give a significant boost to the global printing inks market, as the demand of the inks is projected to marginally increase.
From a regional perspective, the global printing inks market is spread across North America, Asia Pacific, the Middle East and Africa, and Latin America, and Europe. Of these, the market depicts maximum presence in North America, owing to a strong packaging and shipping industry. However, Asia Pacific too is expected to depict a substantial growth in the global printing inks market owing to rising industrialization and urbanization in happening this region.