Global offset ink market size is expected to observe a commendable CAGR between 2022 and 2028 owing to the rising product deployment for a range of applications such as posters, board packaging material, catalogues, printing of books, marketing POP material, magazines, playing cards, calendar, and others. The usage of UV inks for offset application provides a range of benefits including texture coatings, brightness, and high scuff with gloss.
Furthermore, numerous manufacturers are producing different offset ink types that decrease the cost of printing with high speed inks and help in optimizing the operational efficiency of the printers, bolstering industry growth over the estimated period.
On the basis of product, the sheetfed offset ink segment is expected to record appreciable growth through 2028. This upsurge is prominently attributed to the increasing product usage in printing journals and books, paper and folio labels, posters and publications in the advertisement and graphic sector, and different kinds of cardboard packages in the packaging sector. These factors are set to propel segmental expansion through the coming years.
Based on end-use, the offset ink market is set to register substantial growth from the food and medicine packaging segment by 2028. This rise is credited to an increase in the introduction of novel products for catering to multiple requirements across the food packaging sector. Citing an instance, in February 2021, Toyo Printing Inks launched the LP-9000 Toyo Life Premium Food L0/LM, a new lineup of sheetfed offset inks with low migration and low odor characteristics. The product is suitable for usage in printed packages for the pharmaceutical, cosmetic, food, and other sensitive applications.
Considering the regional landscape, the North America offset ink market is anticipated to record lucrative expansion through 2028 driven by the growing usage of printing inks for food packaging across the United States. While there is no particular regulation that permits the deployment of a printing ink on packaging, there are numerous instances in which a printing ink could be considered exempted from the need for regulation. These aspects have opened an extensive range of opportunities for regional growth through the forecast period.
Prominent companies across the offset ink industry comprise Fujifilm, Flint Group, Yip’s Chemical, DIC, Huber Group, Sicpa, Toyo Ink, Dainichiseika Color and Chemicals, Sakata Inx, T&K Toka, Siegwerk, and others. A number of offset ink manufacturers are focused on the adoption of strategic moves such as acquisitions, mergers, collaborations, partnerships, as well as product developments for consolidating their position in the market.
For instance, in November 2021, Flint Group rolled out FOPS (Flint Offset Packaging Solutions), a new division aligning the route to market for printing blankets, pressroom chemicals, and sheetfed inks. The solution brings together the globally recognized brands Day and Varn and K+E for strengthening the company’s position across the industry.
The COVID-19 pandemic has impacted the printing industry, which is a supplier to a wide range of economic sectors. The outbreak has particularly affected the printing companies that were set to supply events, meetings, and trade fairs/exhibitions. The cancellation of these events at the last moment has impacted the demand for leaflets and brochures, further affecting the printing of posters, exhibition booth panels, signage, and wall stickers. These factors have led to an impact on the demand for offset ink machines and other equipment during the pandemic period.