Specialty Ink addresses a range of applications in printing & publication, flexible packaging, safety & security. Specialty Inks have shown great potential to make important documents safer from counterfeiters and protect the integrity of security institutions. Resultantly, the Global Specialty Ink Market is growing pervasively, garnering momentum increasingly.
Acknowledging the kind of growth, this market is witnessing currently, Market Research Future (MRFR) in its recently published analysis; asserts that the Global Specialty Ink Market will garner a voluminous growth by 2023, registering 6% CAGR during the assessment period (2016-2023). Rising demand for label packaging that provides nutritive and product information drives the Specialty Ink Market, globally.
Attributing to the advantageous properties, specialty ink finds its applications in high tech security printings such as cheque printing, metallic shade inks, fluorescent letter printing that catches attention, and carbon copy paper printing ink among others. Security is a paramount concern in the BFSI industry, and the Specialty Ink Industry is rendering the best contribution ever, ensuring the security.
The market has witnessed a number of innovations over the past few years, out of which photochromic and thermochromic inks have shown great potential in making important documents safer from counterfeit and thus have protected the integrity of security institutions. Resultantly, specialty ink enjoys a great demand & its market enjoys an extensive traction worldwide.
Owing to the improving economic conditions and urbanization especially in the developing regions consumers’ preference is increasingly shifting towards the packaged food, beverages, and other retail products. This, in turn, is allowing the specialty ink to garner huge prominence, fuelling its market demand especially in the food packaging segment alongside the major end-user industries.
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On the other hand, fluctuating prices of the raw materials required for the production of these inks is a key factor impeding its market growth. However, substantial investments made by the key manufacturers in the development of products and technologies will support the market growth.
Specialty Ink Market – Regional Analysis
The Asia Pacific market of Specialty Ink is expected to retain its dominance over the forecast period. Spurting industrialization in the region over the past few years is driving the demand and uptake of Specialty Ink across the printing and packaging sector.
Countries such as Japan, China, South Korea, and India backed by their surging economy account for the major markets for these inks and hence, key contributors to the market growth in the region. Furthermore, factors such as the availability of low-cost raw material, land and moderately regulatory framework are contributing to the regional market growth.
The North American region accounts for the second-largest market for Specialty Ink, following the Asia Pacific region closely. Augmenting uptake of the product in the packaging sector alongside the rising investments from the end-user industries are fostering the growth in the regional market. The U.S backed by the document safety applications of Specialty Ink and huge demand for packaged food and other retail products led by the burgeoning food & beverages industry contributes to the regional market majorly.
Europe is another lucrative market for Specialty Ink, globally. European countries such as the U.K, France, Germany, and Switzerland are expected to be the prominent consumer markets due to the increased expenditure on innovation and growing purchasing power of consumers. Additionally, the market growth attributes to the implementation of new rules and regulations proposed by the government to use specialty ink in the region.
Specialty Ink Market – Competitive Analysis
Manufacturers strive to deliver the best quality, reliable and consistent pure, high-quality products based on innovative technologies. M&A activities, Product launch, and collaboration remain key strategies for the market players to gain competitive advantages.
These players continuously seek out and invest in the newest technologies to provide their clientele with solutions tailor-made for a modern marketing era. For which they also try to develop the ability to tailor products to the requested specifications and packaging for special requirements such as customized or bulk packaging, etc.
Some of the eminent leaders of the market include Sun Chemical (U.S.), IIMAK (U.S.), Toyo Ink International Corp. (U.S.), DAIHANINK Co., Ltd. (South Korea), Tokyo Printing Ink Mfg. Co. LTD. (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Bordeaux Digital PrintInk Ltd. (Israel), Huber Group Holding SE (Germany), Royal Dutch Printing Ink Factories Van Son (the Netherlands), and T&K Toka Corporation (Japan)
Industry/ Innovation /Related News:
October 19, 2018 – DowDuPont Specialty Products (US), a global innovation leader with technology-based materials, ingredients and solutions highlighted its innovative ink offerings for the growing digital textile market segment at SGIA 2018 held during October 18-20 at the Las Vegas Convention Center. As part of the show, the team also revealed its new brand campaign “The Color of Things to Come,” including the launch of its new website for textile inks.
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