New York City, NY -- (SBWire) -- 08/02/2018 --Printing inks are liquids or pastes that contain pigments or dyes and are used to color a surface to produce an image, text, or design. They are widely used to color surfaces such as newspaper, books and magazines, cardboard, and ceramic tiles. The global printing inks market is growing at a decent rate since the past few years and it is projected to maintain the growth rate for the near future. The major factors driving the growth of market are the growing consumption of packaged food items and rising demand of bio-based products across the region.
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Over the recent years, APAC has been seeing rising investments in the development of new printing inks production plants. For example, Sakata INX Corporation and Siegwerk Druckfarben AG & Co. KGaA have been engaged in the development of new manufacturing facilities in China. Vietnam is also emerging as a leading investment destination for the manufacturing of printing inks. Also, Daihan Ink Co. Ltd. opened its new facility in Vietnam in 2016. Furthermore, DIC Corporation is streamlining its production facilities of liquid inks in Australia and New Zealand through moderate investments plans. With the ongoing investments in the region, APAC is likely to emerge as a major manufacturing hub for printing inks.
Growing awareness towards the harmful effects of volatile organic compound (VOCs) emissions and the increasing concerns about the presence of heavy metals in printing inks is resulting in the widespread adoption of printing inks made of bio-based products across, APAC. Additionally, these technologies enable efficient separation of inks from paper, thereby resulting in improved paper recyclability which would further augment the demand for bio-based products in the food packaging industry. Rising penetration of bio-based products in various end-use industries such as food and beverages, packaging, and printing is expected to propel the demand of printing inks during the forecast period, owing to their cost-effective and environment-friendly nature.
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Among the countries in the APAC region, the Japanese printing inks market is expected to register a sluggish growth in the coming years, as compared to other countries in the region. This can be attributed to the declining demand of newspaper, brochures, magazines and other paper media in the country. In Japan, the companies operating in the industry are switching to environment friendly-products/inks, which is affecting the demand of conventional printing inks. The further penetration of environment-friendly products and high-function, high value-added products are expected in the packaging industry of the country. Along with that, the weakening demand of sheetfed printing, offset rotary printing and newspaper inks can be attributed to the structural recession, which results from the shrinking printing market associated with digitization.
Some of the major players operating in the APAC printing inks market are Toyo Ink SC Holdings Co. Ltd., DIC Corporation, T&K Toka Co. Ltd., Sakata INX Corporation, Tokyo Printing Ink Mfg. Co. Ltd. etc.
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Increasing Investment on Expanding Production Capacity Is a Major Trend in the APAC Printing Inks Market
APAC Printing Inks Market