Sellbyville, DE -- (SBWire) -- 12/19/2018 --North America low migration inks market is projected to witness promising gains in the coming years. This is mainly due to the stringent regulations imposed by U.S. EPA and FDA to restrict inks beyond a defined migration limit. Additionally, strong R&D investment in the U.S. pharmaceutical industry will trigger the development of new products and devices which in turn will have positive influence on the growth of low migration inks market in the coming years.
According to International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), North America made a substantial investment in pharmaceutical R&D, which was valued more than USD 115.0 billion in 2016, and this might increase in the coming years, and may influence the low migration inks market growth over the forecast period.
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Low Migration Inks Market size is projected to grow at a high CAGR over the forecast timeframe. Strong product demand across food & beverage industry is a major factor contributing substantially to the growth of low migration inks market size over the projected timespan. This is mainly attributed to stringent regulations imposed on packaging and labelling in the food & beverage industry, as undesirable passage of chemicals/ink from printed side to the non-printed side can impose serious harm to the human health.
Rapidly growth in Asia Pacific population has triggered huge product demand in food & beverage industry, which in turn will help attain promising gains to low migration inks market size by 2024. For instance, China, India, and Japan were the leading food & beverage producers in Asia Pacific in 2016, accounted over three quarters of the total turnover. Additionally, Asia Pacific generated a total of USD 3.23 trillion in 2016, and is anticipated to rise further at a CAGR of 11% in the coming years. These factors coupled with stringent regulations against packaging & labelling in the food & beverage industry will help generate substantial gains to low migration inks market size in the coming years.
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High product cost and limited availability of raw materials are the major factors which are likely to hamper the overall low migration inks market size during the forecast timespan. However, rising product demand in digital printing process will help generate further opportunities for low migration inks market size over the forecast time.
Based on the process, low migration inks market size has been segmented into gravure, flexography, off-set and digital. In the flexography process, evaporative inks are used. They leave minimal migratable residues behind. Gravure and flexography printing use low molecular weight components which do not have the potential to migrate which are widely used for packaging & labelling across pharmaceutical, food & beverage and various other end-user industries.
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Based on the end-user industry, low migration inks market size can be segmented into food & beverage, cosmetics, and pharmaceutical, end-user industries. Food & beverage industry contributed a significant share of the overall market in 2016. This is primarily due to improving health concerns mainly in Asia Pacific which has resulted in formulation of stringent regulations against packaging & labelling across food industry to avoid contamination caused by chemical/ink migration.
On the other hand, product consumption in pharmaceutical industry is also increasing, as the use of low migration ink labelling improves the drug safety. For instance, U.S. FDA developed guidelines for pharmaceutical manufacturers in 1999 to produce packaging components which will not leach harmful or undesirable substance to a patient when exposed or treated. These factors will collaboratively influence the growth of low migration inks market over the entire forecast timeframe.
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Low Migration Inks Market Growth Drivers, Analysis to 2024: Kao Collins, Wikoff Color Corporation, ALTANA AG, INX International, Hubergroup UK, Siegwerk, Sun Chemical
Low Migration Inks Market size is projected to grow at a high CAGR over the forecast timeframe.