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Advertising Driven Press Release Distribution
Lithography Inks Market size is forecast to reach US$13.9 billion by 2027, after growing at a CAGR of 4.8% during 2022-2027. The lithography inks printing is done on zinc and aluminum metal plates, a silicon substrate, oron lithography stones to enhance the appearance of the printing. Moreover, lithography inks have seamless diffraction grating, owing to this these inks do not suffer from the absorption effects, and this enhances the durability of the inks. Also, lithography employs modern lithography technologies such as laser pulse technologies to make the manufacturing of such inks at a relatively lower cost and encourages ease of manufacturing. The lithography inks market is majorly driven by its growing application in commercial printing as an oleophobic coating to eliminate the requirement for the dampening solution.
In the year 2020, production activities related to the packaging industry, printing, and other such industries were impacted by the Covid-19 pandemic. Since major economies across the world were under lockdown, the supply chain was disrupted and there was a shortage of materials such as paper and paper board which are essential for many industries. For instance, according to the international trade center (ITC), in the year 2019 total global exports of paper and paperboard were valued at US$168.59 billion and in 2020 it was valued at US$156.14 billion, a decline of approximately 8%. As a result of this decline, there were production challenges for packaging and other industries, which resulted in revenue losses for the lithography inks industry. However, in 2021, with the ease of Covid-19 related stringent regulations, there was growth in the production activities, which led to the growth of the market. Also, in the future, as the Covid-19 pandemic will become the new normal the lithography inks industry outlook will see a growth scenario similar to pre-Covid time.
Lithography Inks MarketSegment Analysis – By Formulation
The solvent-based held a significant share in the lithography inks market in 2021 and is growing at a CAGR of 5.8% during 2022-2027. The solvent-based formulation is utilized in the lithography inks because its use has multiple benefits such as moving air around a solvent-based formulation helps to shorten the drying time by speeding up the reaction.?The solvent-based formulation has a thicker consistency that results in a more pleasing printing appearance, which improves the appearance of the packaging Thus, due to these factors, the demand for the solvent-based formulation is increasing in the lithography inks application. However, the high volatile organic compounds (VOC) content in solvent-based is restricting the segmental growth of the market.
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Lithography Inks MarketSegment Analysis – By Application
The packaging held a significant share in the lithography inks market in 2021 and is growing at a CAGR of 7.3% during 2022-2027. Lithographic inks are used in packaging because these inks are highly efficient for printing images or complicated color details that require full-color printing. Lithographic inks are frequently utilized in the packaging industry due to their high quality, low cost, and versatility. Furthermore, rising packaging industry output is driving demand for lithographic inks. For instance, According to recent insights published on Interpack in 2020, the packaging industry at a worldwide level is expected to register an annual growth annual rate of 3.5% within the next four years. Hence, lithography inks increasing application in packaging is propelling the growth of the market.
Lithography Inks MarketSegment Analysis – By Geography
Asia-Pacific held the largest share in the Lithography Inks market in 2021up to 37%. The Asia-Pacific industry is driven by the growth of various industries such as packaging, commercial printing, and more. According to the Packaging Industry Association of India, the Indian packaging sector is considered to be one of the major industries with high growth potential in India and is rising at 22-25% per annum. Moreover, according to a recent study published on Interpack, it states that Chinese packaging companies such as 3D, SIP, and WLCSP alone achieved revenue of around US$5.88 billion with end packaging, this revenue growth is a result of increasing demand for packaging in the Chinese market. Also, according to the statistics published by the All India Federation of Master Printers (AIFMP), commercial printing in India is expanding at a 10% annual rate. Therefore, the growing packaging and commercial printing sectors of the Asia-Pacific region are fueling the demand growth for lithography inks, which in turn is accelerating the market growth.
Lithography Inks Market Drivers
Growing Demand for Ceramics
In the ceramic industry, lithography inks are majorly employed to increase the appeal because the thick paste of the lithography inks enhances the look of the ceramics. The demand for ceramic tiles is growing at a global level due to the rise in residential and commercial construction activities. Moreover, the expanding ceramic industry is projected to bolster the demand for lithography inks, which in turn is expected to propel market growth. For instance, according to The European Ceramic Industry Association, in the year 2019, the European ceramic industry was valued at €31 billion (US$34.7 billion), there was a growth of about 19.2% when compared with the previous year, and 31.8% of the revenue which was the major one came from wall and floor tiles. Hence, the growing ceramic industry is expected to fuel the market growth, also driving the growth of the lithography inks market during the projected forecast period.
Increasing Commercial Printing
Commercial printing utilizes lithography ink to enhance the look and appeal of the printing at a cost-effective rate. The expanding advertising needs of businesses around the world, combined with considerable technological development, are currently driving market expansion. Organizations are increasingly using commercial?printers for bulk printing because they are more cost-effective and productive. The growing commercial printing application of lithography inks is accelerating market growth. For instance, according to GroupM the world’s leading media investment company, in 2018, the total spending on Advertisements including newspapers, magazines, and more were US$543.71 billion, and in 2019 it was US$563.02 billion, an increase of 3.6%. Thus, the growing demand for commercial printing for advertisement is expanding the growth of the market.
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Lithography Inks Market Challenges
Cost Factors are Limiting the Market Growth
The initial cost breakup of the lithographic inks includes initial setup cost, turnaround time, and more. The expensive setup cost due to the high technologically efficient machinery and more add to the cost of the lithography inks. Moreover, when compared with flexographic inks the lithography inks have a turnaround time, this makes the manufacturing process time-consuming. Also, companies are increasing the lithography inks prices. For instance, in October 2021, Flint Group announced a global price increase of 10% among all types of inks including lithography inks. Therefore, the above-mentioned factors result in increasing the cost of the lithography inks and this factor is posing as a major challenge for the growth of the lithography inks market.
Lithography Inks Market Landscape
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the lithography inks market. Lithography inks top 10 companies are:
INX International Ink
FUJIFILM Holdings America
Tokyo Printing Ink
In December 2020, INX International Ink Co. merged all its South American operations with parent company INX do Brasil. This procedure establishes a more direct approach for INX products, including lithographic inks, in the South American market, involving acquisitions, branch development, and investment plans, as well as growth prospects for 2021.
In September 2020, Sun Chemical and its parent business, DIC Corporation, have acquired Seller Ink Industria e Comercio de Tintas e VernizesLtda, a specialized inks and coatings producer situated in Sao Paulo, Brazil. The acquisition also includes the offset lithographic inks business.
In October 2019, T&K TokaintroducedT&K TOKA H-UV & LED Process Series for the manufacturing of various offset lithography and other such links.
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Asia-Pacific region dominated the lithography inks market, owing to the growing packaging industry in the region. According to the report published by the Packaging Industry Association of India, the packaging sector in India was valued at US$50.5 billion in 2019, and it is predicted to be worth US$204.81 billion by 2025.
The ongoing research and development related such as laser pulse lithography are projected will create a cost-benefit for the lithography market.
Moreover, the lithography inks increasing application in commercial printing is creating a growth potential for the market.
Nevertheless, the higher cost of such inks is posing as a major roadblock for the lithography market growth during the forecast period.
A. Printing Inks Market
B. Ink Additives Market
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