The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
A new report published by Persistence Market Research titled ‘Printing Inks Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)’ studies the performance of the global printing inks market over an eight year assessment period from 2017 to 2025. The report presents the value and volume forecast of the global printing inks market and provides key insights into the factors driving market growth as well as the factors restricting market growth. As per the estimates, the global printing inks market is estimated to be valued at about US$ 18 Bn by the end of the year 2017 and is poised to touch a value of just under US$ 28 Bn by the end of the year 2025, registering a CAGR of 5.5% during the assessment period.
Global Printing Inks Market: Segmentation and Forecast
The global printing inks market is segmented on the basis of product type, formulation type, and on the basis of application.
By formulation type, the solvent based sub-segment is estimated to be valued at nearly US$ 8,750 Mn by the end of the year 2017 and is projected to reach a value of nearly US$ 13,250 Mn by the end of the year 2025, exhibiting a CAGR of 5.3% during the period of assessment.
Among the product type segments, the lithographic inks sub-segment is estimated to be valued at nearly US$ 7,700 Mn by the end of the year 2017 and is projected to reach nearly US$ 11,700 Mn by the end of the year 2025, registering a CAGR of 5.4% during the period of assessment.
By application, the publications sub-segment is estimated to be valued at nearly US$ 2,850 Mn by the end of the year 2017 and is projected to reach a valuation of nearly US$ 4,050 Mn by the end of the year 2025, exhibiting a CAGR of 5.2% during the period of assessment.
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Global Printing Inks Market: Regional Forecast
Persistence Market Research tracks the performance of the global printing inks market across the key geographies of North America, Latin America, Europe, Asia Pacific and Middle East & Africa. As per the forecast, the Asia Pacific printing inks market is estimated to be valued at nearly US$ 7,350 Mn in the year 2017 and is slated to reach a value of about US$ 13,000 Mn in the year 2025, exhibiting a CAGR of 7.4% during the period of assessment. Europe and North America are collectively expected to account for about 35% value share in the global printing inks market by 2025 end.
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