Offset Ink Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4332
Offset Ink Market size will rise exponentially during the forecast period owing to rising product demand from food, packaging, and pharmaceutical industry in Asia Pacific region. Offset inks are in paste form and use solvents such as mineral oil, vegetable oil, fatty acid ester, etc. These inks are usually applicable on offset presses which are used to produce letterpress or lithography prints. They are specifically formulated to resist chemicals which may come in contact on the printing press. These inks are usually rich in pigment to attain fully color vibrancy to be noticeable even with minimal quantity.
Growing population in economies such as China and India has resulted in strong growth in the food industry in the recent years. Also, with improving economic conditions and changing consumer’s lifestyle in the region, demand for packaged food products is on rise, which in turn will have subsequent positive impact on the offset ink market size by 2025. Food packaging plays a significant role in selling the product as well as protecting the food product. For instance, flexible packaging constitutes approximately 26% of the total printed food packaging sales in 2018, which is expected to further propel in future. This packaging type prefers offset ink owing to its low VOC emissions, reduced waste, high print fidelity, etc.
Stringent regulations imposed by government on food packaging products are expected to hinder the market growth in the coming years. For instance, Article 3 of Regulation (EC) No 1935/2004 suggests that printing inks applied to the non-food contact side of material must be applied in a manner that substances from the printed surface shouldn’t get transferred to the food contact side. Such stringent regulations and availability of substitutes such as 3D printing in the market may impose hurdles for the market growth in the forecast timeframe. Nevertheless, printers in the offset segment are focusing on improving effectiveness in environmentally responsible manner which will help generate ample opportunities for the market size in the near future.
Based on product, offset ink market is segmented into web, sheetfed, heat set and others. Sheetfed offset ink possess several benefits such as immediate curing of inks and varnishes, no powder residue, consistent print quality, environment friendly, etc. which makes it preferable across packaging industry. On the other hand, heat set offset printing ink is dried rapidly by forced air heating. The key advantage associated with heat set offset printing ink is that it produces much sharper images and is therefore widely applicable to print flyers, glossy magazines, etc.
Based on drying mode, offset ink market is categorized into overnight, semi-overnight and siccative inks. The setting and drying of overnight inks is moderate, which suggest ink tin can remain exposed to environment for more than 24 hours without formation of a dry skin on its surface. On the other hand, semi-overnight inks tends to dry quickly and thus allowing the print to be handled just a few hours after printing., whereas siccative inks contains high drying agent content which allows it to dry within 2 to 3 hours of printing. Thus, it is preferable for printing matt coated paper, synthetics and non-absorbent substrates.
Based on the end-user, offset ink market is bifurcated into food and medicine packaging, cigarette packaging printing, paper based printing and others. Food & medicine packaging constituted a major chunk of the overall offset ink business size in 2018. This is majorly attributed to strong growth in the food industry across emerging economies, owing to strong population growth. Furthermore, rising investment in R&D field in medical industry by key players in North America to develop advanced drugs has also been contributing significantly to the offset ink market size by 2025.
North America offset ink market size will witness promising gains owing to strong growth in the pharmaceutical industry with high focus on developing innovative drugs by the key players in the industry. These factors will trigger packaging materials demand, which will have subsequent impact on the offset printing inks market size in the forecast timeframe. Asia Pacific and LATAM are expected to experience high growth rate with growing economic conditions in India, China and Mexico, which will trigger end-users such as food packaging and medicine packaging industry in the coming years.
Key players operating in the market are DIC, Toyo Ink, Siegwerk, Fujifilm, Dainichiseika Color and Chemicals, Flint Group, Sakata Inx, TandK Toka, Yip's Chemical, Sicpa, Huber Group, among others.
By Product, 2014-2025 (Tons) (USD Million)
- Heat Set
By Drying Mode, 2014-2025 (Tons) (USD Million)
- Overnight inks
- Semi-overnight inks
- Siccative inks
By End user, 2014-2025 (Tons) (USD Million)
- Food and Medicine Packaging
- Cigarette Packaging Printing
- Paper based Printing
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Flint Group
- Toyo Ink
- Sakata Inx
- Huber Group
- TandK Toka
- Actega (Altana)
- Dainichiseika Color and Chemicals
- Yip's Chemical
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