Abstract
US demand to reach $4.8 billion by 2013
US demand for printing inks is forecast to increase to $4.8 billion in 2013.
Downward pricing pressures will continue to limit value growth as competition
within the industry restrains price increases. However, demand will benefit
from shifts toward more expensive energy-curable and digital inks, as well as
increased use in the large packaging market. Demand for printing ink raw
materials is projected to expand in line with ink through 2013. Additives and
colorants are expected to experience the fastest advances, reflecting demand
for better performing inks with brighter colors.
The US is forecast to maintain a favorable trade position through 2013 and
beyond, with the surplus projected to widen. Exports have increased in recent
years as a mature US market and strong competition domestically have prompted
US ink manufacturers to look abroad for sales growth. Exports of higher
quality ink will be spurred as printers in markets such as Asia and Latin
America adopt new technologies, purchase higher speed presses, and upgrade
their ink systems.
Lithographic inks to remain most widely used type
Lithographic inks will continue to be the most widely used inks in the
industry, benefitting from the strong position of lithography, which offers
advantages such as longer plate life, higher quality print performance and
lower ink consumption than other printing processes.
However, gains will be limited by competition from flexographic formulations,
particularly in packaging applications. Of the lithographic inks, web offset
types will continue to account for the majority of demand while sheetfed
offset inks are expected to register more rapid growth, reflecting increasing
demand for inks used for short-run publications, such as commercial printing
inserts and special event promotions.
Digital inks to grow fastest
Digital inks represent the fastest-growing product segment in the US printing
inks industry. Advances will be driven by improvements in digital technology,
such as print quality and speed, which will open up new applications to
digital inks. Increases also reflect a trend toward customization and shorter
run lengths in applications ranging from commercial printing of inserts and
direct mailings to the printing of specialized designs for the textile
industry. However, more rapid market penetration will be limited by the cost
of adopting the new technology, including the purchase of new equipment and
training of personnel. Additionally, runs of digital printing applications
tend to be short and, hence, the quantity of ink consumed is small relative to
conventional printing inks.
Packaging will stay largest, fastest growing market
Packaging represents both the largest and fastest-growing market for printing
inks. Gains will be fueled by growth in the flexible packaging segment, as
more advanced ink formulations are required for the brighter colors and wide
range of substrates used in this sector. Water-based and energy curable inks
will benefit from greater concern for environmental issues as well as
improvements to these formulations that make them suitable for use in an
increasingly wide range of applications. Demand will be further aided by rapid
growth in the use of digital inks in the packaging market and greater usage of
brand protection products such as security inks.
Study coverage
Printing Inks, a new Freedonia industry study, presents historical
demand data (1998, 2003 and 2008) plus forecasts for 2013 and 2018 by raw
material, product and market. The study also considers market environment
factors, assesses the industry structure, evaluates company market share data
and profiles industry competitors, including Sun Chemical, Flint Group and INX
International.
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