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  • 24 May 2019 23:42

Lithography Inks Market Accounted Over USD 8.1 Billion in 2017

According to a new report published by Acumen Research and Consulting titled “Lithography ink Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019-2026”, The global lithography inks market accounted over USD 8.1 Billion in 2017 and is expected to grow at CAGR 5.0 % during the forecast period, 2019-2026.

Lithography printing is an important printing process used in various packaging printing applications owing to its high versatility in terms of printing on a wide range of substrates. The global lithography ink market registered extensive growth due to technological advancement in the packaging solutions and high demand for flexible packaging in the food and beverages industry. Moreover, cost effective nature eco-friendly behavior is one of the major advantage of using lithography ink that is acting as a growth driver in this market. Lithography ink is a product of technological development to serve diverse needs of packaging industry. High consumer preference for flexible packaging products has resulted into demand for water based inks. Water based Lithograpic ink is environmentally free that helps to products with low VOC (volatile organic compound) content. Therefore government has formulated regulation to promote the low VOC content product thereby contributing in the overall market growth. Growing penetration of digitization in the publishing industry may slow the growth of the market. Nevertheless, favorable government regulations regarding UV curing products likely to provide healthy growth opportunities over the coming years.

The global Lithography ink market is segmented by type, application, and region.

By type, the global lithography ink market is segmented into Water-based inks, solvent –based inks, and other. Water-based Lithography ink is the largest revenue generating segment among all in 2018. Environmentally-free nature and low VOC content is the primary reason of high adoption of water based printing inks. On the basis of application includes commercial printing, packaging, publication, and other. Packaging application segment was the largest among all and emerged as global leader in 2018. Marketers are looking for innovative packaging approaches over the years with the help of technology. Hence, changing technology momentum is offering scope for the new product formulation in the packaging industry through printing techniques. Therefore, innovations in the packaging industry projected to drive demand for lithograpic ink over the coming years.

Geographically, the global lithography ink market is segmented into four regions: North America, Europe, Asia Pacific, and Middle East & Africa Asia-Pacific is the largest market for lithography printing ink across the globe. It has accounted largest marker share both in terms of value and volume in 2017 and likely to continue the same during the forecast period. Some of the key factors driving the growth of Asia-Pacific region include rising disposable income linked with rapid lifestyle changes and high demand for packaged food. Apart from this high adoption of lithography ink in personal care and cosmetics, medical and pharmaceutical, and food & beverages industry is further contributing into the overall growth. North America is another attractive region for lithography ink market owing to the well developed technology, presence of huge number of players, and increasing demand from various sectors. Europe market is growing in terms of value and volume owing to the presence of the huge end use industry, increasing demand from pharmaceutical industry and availability of huge investment. LAMEA holds the least share in the market owing to the limited development and poor economy in African and Latin America region.

Some of the key industry players operating in the lithography ink market include INX International Ink Co., Flint Group, FUJIFILM Holdings Cabot Corporation, Siegwerk Druckfarben AG & Co. KgaA, Toyo Ink Co., Ltd., DIC Corporation, HuberGroup, America Corporation, Tokyo Printing Ink Mfg. Co., Ltd., T&K Toka Co., Ltd., and Wikoff Color Corporation. among others. Several companies operating in the global lithography inks market engage in the expansion of lithography inks portfolio to sustain in the increasing competition. Whereas, local players are offering their products at low prices in order to improve the market presence and consumer reach.

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