The global screen printing inks market size is projected to exceed around USD 1,135.6 million by 2026, the market is estimated to grow at 4.7% CAGR during the forecast period. Increase in preference for online reading is one of the factors that is expected to boost the growth of the global screen printing inks market.
In screen printing, inks such as water-based inks, solvent-based inks,UV-cured inks, and other discharge inks are used. Screen printing is used for textile printing and printing applications in end-use industries such as automotive, food & beverages, and textiles.Also, the other applications of screen printing include container printing, touch panel printing, toy printing, and optical disk printing, etc. Screen printing inks are highly preferred over the traditional printing, as it provides with extended shelf life. E-commerce involves trading in products and services by using intricate computer networks. The rise in internet penetration across the globe has considerably reduced the paper-based communication. Also, the growing areas of e-commerce are e-books, sporting goods, toys, event tickets, hotel reservations, and airline reservations etc. are estimated to encourage the growth of the screen printing inks industry. This, in turn, impacts the demand for solvent-based inks. Additionally, significant movement of newspapers and magazines electronically in developing countries of Asia Pacific is anticipated to boost the publication sector in this region in the near future. This, eventually, is expected to restrain the demand for solvent-based inks in the near future. The factors driving the demand for e-books include mass access, cost benefits over printed books, and the availability of low-cost reading devices. This factor is restraining the demand for printed books and, in turn, driving the demand for water-borne screen printing inks across the globe.
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The screen printing inks are mainly used with solvents as base materials. The solvent-based inks are the most widely used inks in wide-format coding and formatting applications. Solvent-based inks consist of inorganic solvents and toxic metals such as cadmium, lead, mercury, and hexavalent chromium. Thus, the use of solvent-based inks may result in various health consequences of these substances are mixed with edibles. The number of safety regulations has been increased in order to avoid adverse health concerns that leads to consumption of toxic substances. This factor is expected to hamper the global screen printing inks market in the upcoming years. Also, the material used in food packaging is in direct contact with end-users. Hence, stringent environmental regulations related to screen printing inks are introduced. The environmental regulations imposed on printing inks can be arestraining factor that can have an adverse effect on the demand for solvent-based screen printing inks. Moreover, the key manufacturers in the screen printing inks market are focused on continuous product innovation strategy in order to expand their product offerings to compete with other players and strengthen its foothold in the global market. For instance, in February 2017, Monarch Color Corporation, which is one of the leading providers of offset and flexo inks launched Plastisol Ink for t-shirt screen printing in order to expand their business portfolio.
The global screen printing inks market is segmented into type, application, and region. On the basis of type, the global screen printing inks market is segmented into water-based, solvent-based, UV-cured, and others. On the basis of application, the global screen printing inks market is segmented into commercial printing, publication, labels & packaging, and others. On the basis of the region the global screen printing inks market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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The major players associated with the global screen printing inks market are Huber Group, Toyo Ink Co., Ltd., Sun chemicals, Marabu GmbH & Co. KG, Kolorcure, Flint Group, Nazdar Ink Technologies, Fujifilm Specialty Ink Systems Ltd., Union Ink, Siegwerk Druckfarben AG & Co. KGaA, EPTANOVA S.R.L., Monarch Color Corporation, Tiflex, and Grafco etc.The key players in the screen printing inks market are constantly focusing on research and development activities in order to expand its product portfolio and increase their customer base in developing regions. There is a high degree of competition among the key players operating in the global screen printing inks market. Moreover, the players are also strategically focused on partnership, acquisition, and product launch in order to compete in the market and gain a leading position in the screen printing inks market. The changing customers’ requirements aids manufacturers to offer innovative technology that caters best as per need. These factors are anticipated to offer lucrative growth opportunities for the prominent players in the screen printing inks market.
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