The printing inks market has been growing at a steady rate across the globe and is estimated to tread a positive path in coming few years. According to a research report published by Transparency Market Research, the global printing inks market is expected to reach a value of US$20.17 billion by 2020 from the value of US$14.41 billion reported in 2013. This monumental growth will be steered by the flexible packaging segment, along with other packing materials that are used in several other industries.
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Analysts predict that the contribution of packaging to the printing inks market will continue to grow till 2020, as the industry will need inks for printing labels, tags, metal cans, and flexible materials. The printing inks market has picked up great speed as product designers are looking at various ways of making packaging interesting, catchy, and high-class.
Printers to Encourage Consumers to Spend More on Printing
Epson, a leading manufacturer of computer printers, is devising a special printer that will use lesser printing cartridge to encourage consumers to buy printers to begin with. The Epson EcoTank printer is expected to hit the market this September. It will be equipped with bigger, refillable ink tanks that will save the trouble of spending on a cartridge. The replacements inks will only cost the consumers US$13 to US$52, as compared to cartridges, which can cost up to US$70. Such innovations and minor tweaks to printing media are also expected to boost demand from the overall printing inks market.
3D Printing Inks Market to be Driven by Technological Progress
As designers, innovators, and artists are coming up with ink solutions for 3D printing techniques, the global printing ink market is also expected to expand in a new dimension. 3DT Labs is working its way around giving access to the world of color to various 3D printers across the globe. According to officials at 3DT Labs, 3D printing in color should not be a challenge. The solution to this Herculean task is being sought with Chameleon filament inking system. The company has been researching and developing this system for quite some time now. Endeavors to make 3D printing output colorful have has definitely opened a new avenue for the printing inks market to generate revenue from.
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According to analysts at Transparency Market Research, North America is expected to lead the global printing inks market, which was also the leading region in 2013 with a market share of 30% in terms of volume. Research indicates that growth of the printing inks market in North America will be due to rise in the use of flexible packaging and commercial printing. The next region in line to witness significant growth will be Asia Pacific, with India and China experiencing significant growth till 2020.