The Global Specialty Ink Market is all set to expand with 6% CAGR by 2023 chiefly driven by rising global demand for label packaging providing nutritive and product information. Specialty Inks serve particular purposes other than their general forms do. According to the specific uses, these inks are modified into metallic, lightfast, fluorescent, security, carbonizing, and invisible inks, magic bricks, and polybond ink and more. For the use of high-tech security printings, cheque printing, fluorescent inks are found to be a remarkable application of Specialty Inks.
The key players contributing to the growth of Global Specialty Ink Market are IIMAK (U.S.), Sun Chemical (U.S.), Toyo Ink International Corp. (U.S.), TOKYO PRINTING INK MFG CO., LTD. (Japan), DAIHANINK Co., Ltd. (South Korea), Siegwerk Druckfarben AG & Co. KGaA (Germany), Huber Group Holding SE (Germany), Bordeaux Digital PrintInk Ltd. (Israel), T&K TOKA Corporation (Japan), and Royal Dutch Printing Ink Factories Van Son (the Netherlands), among others.
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21 June, 2019: Fujifilm Specialty Ink Systems unveiled Uvijet OX, which is its latest high-performance ink set. It was developed exclusively for use with the new Inca Digital Onset X HS UV flatbed series.
19 June, 2019: PolyOne’s Specialty Inks group launched Libra silicone ink, which is the latest offering within its new Zodiac brand collection of eco-conscious screen-printing inks. Zodiac Libra follows Zodiac Aquarius, a water-based ink portfolio launched in January and the first offering within the new brand collection.
Global Specialty Ink Market: Drivers & Trends:
As per the research, the emerging scope of Global Specialty Ink Market is backed by factors such as protection from imitation and fake branding. The packaging sector is also influenced by Global Specialty Ink Market with the reasons for rising global demand for label packaging. Other drivers such as the color, design, and appearance of the ink also play a critical factor when it comes to fascinating the customers, which is taking the market towards expansion at a higher CAGR.
However, the Global Specialty Ink Market is gaining considerable traction with the increasing per capita income and changing living standards of the people, particularly in developing regions. This trend is shifting the consumer’s sentiments towards the use of packaged food, beverages, and other retail products. In the food industry, the usage of Specialty Ink is substantial, which is fueling the demand during the years to follow.
Furthermore, the key market players are significantly investing a substantial share of revenue in high-end research and development of innovative ink products to serve the purposes. The latest development in the Global Specialty Ink Market growth can also be attributed to advancements in the field of 3D printing, the arrival of new technologies such as inkjet, offset, and others.
On the flip side, factors such as fluctuations in the raw material prices cost incentive nature of new technologies and shift from traditional to digital market have posed to the major bottlenecks in the way of market growth. These are some of the markets restrains for the assessment period.
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The Global Specialty Ink Market is segmented by Type, Resin Type and Application.
In terms of Type, the market has been bifurcated into modified thermochromic and photochromic.
In terms of Resin Type, the market is bifurcated into the modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others.
In terms of Application, the market is bifurcated into printing & publication, flexible packaging, safety & security, entertainment, and others.
Regionally, the Global Specialty Ink Market has covered the main regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific contributes significantly to the market growth, as it has the fastest growing market share, that can be attributed to the rising industrialization of emerging regions such as India, Japan, China, and South Korea. Countries such as India and China are the major market as they have the highest demand for Specialty Ink for numerous application base.
At the same time, North America is also contributing largely and thus is the second largest market in the Global Specialty Ink Market, and it is attributed to the massive demand of packaged food, and other retail products in the food industry.
Europe is also getting immense thrust from the significant contributors of regional markets such as the U.K, France, Germany, and Switzerland. Due to the sluggish growth of end-users and economic slowdown, this region is anticipated to witness moderate growth during the forecast period. Whereas, the Middle East & Africa region is set to proliferate at healthy CAGR owing to the enormous growth opportunities offered by the tourism industry.
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