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Oil-Based Printing Inks Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Oil-Based Printing Inks Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071993
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the oil-based printing inks market are Nazdar Ink Technologies, Van Son Holland Ink Corp., Superior Printing Inks, Flint Group, Hubergroup, Sun Chemical, Wikoff Color Corp. and Siegwerk Druckfarben AG & Co.

The global oil-based printing inks market is expected to grow from $13.62 billion in 2020 to $14.02 billion in 2021 at a compound annual growth rate (CAGR) of 2.9%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $15.36 billion in 2025 at a CAGR of 2%.

The oil-based printing inks market consists of sales of oil-based printing inks.Oil-based inks consist of a pigment or pigments of the required color mixed with oil.

For example, black inks are made from carbon blacks and thick linseed oil.

The demand for environmentally friendly inks are increasing and it is expected to drive the oil-based printing inks market in the forecast period.The supply and use of several important chemicals, including ingredients used in paints, coatings and printing inks has been banned due to explosion and fire that occurred on March 2019 in Jiangsu Province, China.

The incident has increased the demand for oil-based printing inks which can be used as a substitute for petroleum and chemical based inks and it is produced from vegetable oils such as soybean, sunflower, cottonseed, safflower and canola oils. For instance, Mojoprint, which is Japan’s number one English-language printing service company uses vegetable oil-based printing inks derived from soy, palm and other vegetable oils because these inks are environmentally friendly and sustainable alternative to petroleum based inks.

A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the printing inks market.Printing ink companies globally are suffering from a shortage of raw materials, including resins, monomers, photoinitiators, oligomers, and additives.

This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution.China is dominant in printing inks raw materials supplies due to the presence of strong refinery capacity and associated chemicals manufacturing ecosystem.

Market players have already started facing challenges due to shortages of raw materials.For instance, in May 2018, Sun Chemical, a global printing ink manufacturer, faced disruptions in its printing inks supply due to global raw material shortage resulting from ongoing environmental regulatory compliance inspections in Chinese raw material plants and factories.

Again, in July 2018, printing ink manufacturer Hubergroup announced an increase in prices for all energy curing inks and varnishes across Europe and the Americas with immediate effect due to shortages of raw materials.

The oil-based printing inks market covered in this report is segmented by type into vegetable oil-based printing inks, mineral oil-based printing inks. It is also segmented by application into marking and coding, package printing, signage.

The printing inks industry has introduced high-resolution replacement inks as a cost-effective alternative for barcode case coding applications.High resolution inks are more effective than traditional inks as they allow fine and solid printing at high speed.

They also enable re-printability and drastically reduce the number of cleaning stencils required.For instance, IIMAK introduced Sure Scan II Plus, high-resolution replacement compatible inkjet ink, which reduces the cost of printing and downtime, and eliminates waste.

This functions as a replacement option that offers performance in various high-resolution inkjet printers such as Foxjet, Matthews and Diagraph. Top companies in the market are developing high definition inks with premium durability, fast dry time, and a 12-month shelf life

In October 2020, Flint Group Packaging Inks, an India based Chemical manufacturer acquired Poteet Printing Systems LLC for an undisclosed amount.This acquisition strengthens Flint Group Packaging Inks’ position within, and technical support to, the Paper & Board market in North America.

Poteet Printing Systems LLC, a USA based Chemical manufacturer.

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