The global screen printing inks market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing adoption of screen printing over other printing techniques. Screen printing is the process of using a mesh-stencil for printing on various kinds of surfaces, such as, glass, plastic, textiles and others. The varied application of screen printing is estimated to primarily boost the market growth. Moreover, the advantageous properties of the screen printing ink, such as, longer shelf life, durability, high viscosity, and brighter color, are projected to boost the market growth. Furthermore, the growing expenditure by companies on print advertising, including printed banners, posters, and published ads, is also estimated to boost the market growth. It was predicted that private and government companies jointly would spend more that USD 52 million on print advertising globally by the end of 2021.
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The market is segmented by application into labels & packaging, commercial printing, publication, and others, out of which, the labels & packaging segment is anticipated to hold the notable share in the global screen printing inks market on account of growing demand for screen printing for packaging and labels. Screen printing is durable and the printed material can be stored over the long-term, which is why, it is preferred for printing labels, banners, and packaging materials. On the basis of end-use material, the plastic segment is estimated to gain notable market share over the forecast period, owing to the ease of screen printing on plastic surfaces, as compared to digital printing on plastic surfaces.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global screen printing inks market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of presence of major market players along with growing chemical industry in the region. Additionally, large scale manufacturing facilities present in the APAC region, and high demand for screen printing inks in the packaging industry of the region, are estimated to boost the market growth.
The market in the North America region is projected to attain significant growth over the forecast period, on the back of the growing demand for printing inks amongst various manufacturers in the region. In fact, it is observed that the printing ink manufacturing in the United States, generated a revenue of approximately USD 4,380 million in 2018. Moreover, the rising production of solvent-based ink in the region, backed by easy availability of petroleum products is foreseen to boost the market growth.
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The global screen printing inks market is further classified on the basis of region as follows:
Our in-depth analysis of the global screen printing inks market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Higher durability and longer shelf life of screen printing inks are estimated to boost the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022-2030.
Strict regulations on the usage of volatile organic chemicals, and high cost of screen printing are estimated to hamper the market growth.
The market in the Asia Pacific region is estimated to provide more business opportunities over the forecast period on account of presence of major market players in the region.
The major players in the market are Marabu GmbH & Co. KG, Flint Group, Sun Chemical, Hubergroup, Inc., Fujifilm Specialty Ink Systems Ltd., Toyo Ink Co., Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-use material, application, and by region.
The label & packaging segment is anticipated to hold largest market value over the forecast period and display significant growth opportunities.
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