Gravure printing ink market size is expected to exhibit substantial expansion from 2021 to 2027 due to the fast-growing packaging and lamination sectors across the globe. The increasing consumption of processed food has led to significant strides in the food packaging sector.
Gravure inks are mainly fluid inks that have a very low viscosity to allow them to be drawn into the engraved cells within the cylinder and then transferred onto the substrate. Considering their superior UV light and moisture resistant properties, the inks find extensive application across various printing needs.
Furthermore, the emergence of new cylinder and press technologies coupled with the higher adoption of rotogravure printing inks in flexible packaging applications will favor the market dynamics.
Based on type, the market size from solvent-based gravure printing inks will expand considerably with increasing adoption as they are swift and take lower time to dry. On account of their abilities of simple adaptation on various substrates, these inks are gaining widespread popularity across the globe. However, the presence of various environmental regulations and raw material price volatility will obstruct the market growth in the coming years.
On the contrary, the water-based segment will witness inclination owing to their eco-friendly benefits and adherence to several environmental regulations. Rising technological advancements along with the increasing mass production are other factors supporting market proliferation.
The demand for gravure printing ink materials in the packaging sector will rise with the booming preference for online shopping mainly across the emerging countries. The growing penetration of labels, plastic bags, and invoices in packaging will drive the market growth.
Asia Pacific gravure printing ink market will gain significant traction through 2027 on account of the hiking disposable incomes and rising acceptance of interior designing with customized wallpapers. The growing intake of processed and canned food, notably in China and India has led to the expansion of the food packaging sector in the region. The improved standard of living and booming packaging sector has resulted in higher product demand. The presence of favorable government regulations in India has contributed to the influx of medium and small enterprises. Factors, like increasing production facilities and the spiraling investments by foreign companies, will add to the regional market growth.
Some of the leading gravure printing ink market players comprise DIC Corporation, Technocrafts India., Siegwerk Druckfarben., Dainichiseika Color & Chemicals Mfg. Co., Ltd, Mac-Mixu Coating & Chemicals, Sun Chemical (Sun Chemical Group CoÖPeratief Ua), Worldtex Speaciality Chemicals, Hubergroup Deutschland GmbH (Mhm Holding Gesellschaft Mit BeschrÄNkter Haftung), Wikoff Color, Flint Group, CHEMICOAT, MITSU Inks Pvt. Ltd., and Sakata.
These market participants are constantly resorting to persistent efforts, such as novel product launches and are working on partnership-oriented strategies, to expand their portfolio and customer base. They are also focusing on capacity expansions to generate increased revenue sales.
For instance, in May 2020, DIC Corporation acquired the liquid inks for packaging portfolio from Liaoning Tianqi Technology Co., Ltd., a leading Chinese manufacturer, in an undisclosed deal. The newly acquired company was named DIC Graphics (Shenyang) Ltd.
In another instance, in August 2021, Wikoff Color launched a new manufacturing facility in Milwaukee, WI. This novel establishment will be the main hub for the firm solvent-based as well as water-based gravure operations.
The COVID-19 pandemic made way for multiple roadblocks in the business landscape while substantially triggering the global economy. The gravure printing ink industry also felt the heat of the crisis given the stalled operations and activities across the publication, packaging, and furniture sector. This was in regard to the influx of the lockdown policies and trade restrictions. However, with the gradual release of these barriers, the demand for the inks is anticipated to pick up steam in the coming years.