Offset Ink Market size is poised to register significant revenue gains from 2023 to 2032 driven by the expanding product application scope worldwide.
Offset ink is extensively used in board packaging materials, posters, catalogs, calendars, marketing POP materials, and others. This broad spectrum of offset applications of UV inks can be attributed to the surging need for brightness, texture coatings, and high scuff with gloss. Manufacturers worldwide are thus developing innovative high-speed offset ink types capable of reducing the cost of printing whilst optimizing the operational efficiency of the printing devices.
The COVID-19 pandemic negatively influenced the offset ink market due to a dramatic reduction in product demand. The emergence of the nationwide lockdown policies and the adoption of remote working approaches significantly declined the printing needs. The outbreak also led to a complete shutdown of some of the prime areas with huge printing requirements, including signage, posters, exhibition booth panels, and others in external meetings, fairs, and exhibitions.
Based on product, the industry share from sheetfed offset inks is expected to record substantial growth through 2032. This is ascribed to the growing product use in printing books & journals, posters, paper & folio labels, and publications in the field of graphics and advertisement. This type of ink is also largely employed by the packaging sector to make different varieties of cardboard packages.
With regards to end-use, the offset ink market is slated to incur significant revenue from the food and medicine packaging sector by 2032. The ongoing innovations and developments of novel products to address the changing requirements in packaging will pave the way for segment growth. For instance, Toyo Printing Inks, in February 2021, unveiled a new range of sheetfed offset inks, LP-9000 Toyo Life Premium Food L0/LM to offer low odor and migration characteristics. The thriving adoption of critical pharmaceutical products and foods along with the incessant need for very specific packaging properties for preserving and maintaining product quality will also anchor the market expansion.
Regionally, North America offset ink industry is projected to expand at an exponential rate between 2023 and 2032. The region is home to countries such as the U.S., and Canada with expanding food and beverage sectors as well as vast packaging needs. The increasing food production in the region will also add to the demand for printing inks in packaging applications. According to the U.S. Department of Agriculture (USDA), the U.S. exported a total of 11 million metric tons of processed food products worth more than USD 34 billion in 2021.
Some renowned companies in the offset ink market include Flint Group, DIC Corporation, Yip’s Chemical, Huber Group, Toyo Ink, Sicpa, Dainichiseika Color and Chemicals, T&K Toka, Sakata Inx, Siegwerk, Fujifilm, and others. These competitors are mainly focusing on the development of new products and the expansion of product portfolios to boost their market presence. For instance, in November 2021, Flint Group launched FOPS (Flint Offset Packaging Solutions), a new division encompassing sheetfed inks, pressroom chemicals, and printing blankets.
The emerging trends that will foster the development of the offset ink industry are the increasing emphasis on UV inks and the growing popularity of highly automated offset printing devices for ensuring high-speed and low-cost production. Furthermore, the influx of rapid digitization will proliferate the demand for commercial offset printers.