This is good news for the Industry as Eco-friendly printer inks are expected to drive demand in the Global Printing Market. This is based on a report by the Global Industry Analysts, Inc. as demand is projected to reach US$21B by 2020.
So what caused the spike in demand for inks? While demand from the publishing Industry has weakened in the past couple of years, the decline has however be filled in by the stable and growing needs of the packaging Industry. Said demand that is characterized by the increasing popularity of Eco-friendly printer inks and the steady rise in relevance of digital inks is an offshoot of an economy on the revive. These are the very factors that support the stimulus for the demand of printer inks in the coming years.
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R&D spending, stiff competition and environmental concerns: Are the precursor of a renewed vigor in the Industry and is poised to benefit the development of printer inks the most. Engineering products with small environmental footprint will certainly preoccupy production efforts. Added interests will be on inks that deliver superior efficiency, particularly ink products that are almost fade resistant when exposed to chemicals such as solvents and cleaners.
Huge opportunities for inks to really make a splash: As new advances are made in digital technology, it should give huge opportunities to inkjet ink suppliers particularly in the textile, commercial and packaging industry sector. Eco-friendly Printer inks developed recently deliver enhanced opacity that result in better print quality and are highly compatible to high speed printing. Moreover, these consumable have been designed for minimal environmental impact.
Outdoor signage reinvents: With the poised resurgence of inkjets in the market, printing of outdoor signages will again be popular. As outdoor signages will be exposed to the natural elements, UV inks will be relevant and expected to be an added force in the ink supply chain. In fact, specially manufactured UV inks are now making inroads in markets in the US, Canada, Western Europe, Japan and parts of the Asia-Pacific.
Printing inks growth forecast: As expected the new market report points to the U.S. as the single largest market globally. Meanwhile, the Asia-Pacific corridor will be the fastest growing market with sales averaging 6.6% within the forecast period. Supply of lithographic ink is the largest product market While digital inks will emerge as the fastest growing segment of the demand. The fast paced growth is driven by the improved screen printing technology, demand for outdoor signages and the renewed popularity of InkJet printers.
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With printer ink business expected to reach U.S. $21B by 2020, the future really looks very promising for the packaging and publishing Industry.