Lithographic Printing Chemicals Market Analysis

Lithographic Printing Chemicals Market Analysis

Based on product, the global lithographic printing chemicals market has been segmented into inks, fountain solutions, cleaning solutions, and other products such as gumming solution, photographic chemicals, ancillary products, plate coatings, etc. Inks is the largest product segment in the market which will gain by a CAGR of more than 4% during the forecast timeframe. Increasing product demand in print media applications will drive the segment’s industry development.
 

Cleaning solutions for use in offset printing are mixtures of different chemical compounds such as hydrocarbons, solvent naphtha, oils, tensides, corrosion inhibitors, etc. They are used for the regular cleaning and maintenance of the printing machine. Some of the major functions of this product type is to etch ink components and remove the accumulated dirt. This segment accounted for a revenue of over USD 850 million in 2017.
 

Based on application, the offset print chemicals market is segmented into publication, packaging, promotion, and others such as stationery items, books, etc. Publication is the largest application segment which will grow by more than 4.5% during the forecast timeframe. This application includes product usage in the publication of newspapers, magazines, newsletters, etc. High growth of print media industry in the countries of Asia Pacific will drive the segment’s market.
 

Promotion is also a key application segment of the lithographic printing chemicals market. This includes product usage in production of promotional materials such as leaflets, posters, advertisements, etc. Although, the use of flexographic technology for this application is rising in recent years, offset technology is still used widely for promotional applications. Developments in the print advertisement sector will be the major factor boosting product demand for promotion application.
 

Asia Pacific is the largest lithographic printing chemicals market in the globe, driven by increasing demand in China, India, and Indonesia. The region’s offset print industry revenue was recorded at around USD 9.8 billion in 2017. The regional packaging industry will also be a key factor driving the product market growth. Increasing production of packaging materials and labels using offset technology in Asia Pacific countries will augment the industry growth in the forecast timeframe.
 

North America offset print chemicals market will grow slowly by a CAGR of approximately 2.5% during the forecast timeframe. Increasing usage of digital printing in the region coupled with decreasing demand for newspapers and magazines have been the major reason behind the region’s low growth rate. However, the possibility of low-cost and high-volume printing with offset technology will still boost product demand in the region in the forecast period.