Gravure Printing Inks Market By Resin, By Technology, By Application, By End-use, By Region - Global Market Analysis & Forecast, 2024 to 2032

Market Overview

Gravure printing inks are specially formulated inks used in gravure printing, which involves engraving an image onto a cylinder in a rotary printing press. These inks are typically low-viscosity to enable fast transfer and drying. They are essential in high-volume printing applications due to their ability to consistently produce fine, detailed images. Common applications include packaging, wallpapers, magazines, and greeting cards. The inks can be based on various solvent types or can be water-based, depending on the printing substrate and the desired quality of the print. The gravure printing inks market has shown resilience and adaptability in the face of evolving printing technologies and environmental regulations. The market is driven by the high demand for consumer goods and the pharmaceutical industry, where gravure printing remains a preferred method due to its precision and ability to handle large volumes efficiently. However, the shift towards digital printing and sustainability concerns are significant challenges impacting market growth. With an estimated Compound Annual Growth Rate (CAGR) of 4.2%, the gravure printing inks market is expected to experience moderate growth over the forecast period. This growth is supported by ongoing demand in packaging applications, particularly in food and beverage, where gravure printing’s high-quality image reproduction is crucial. Expansion in emerging markets, particularly in Asia, where packaging needs are growing rapidly, also contributes to this positive growth trajectory. Nonetheless, advancements in competing digital printing technologies may restrain the market’s expansion to some extent.

Increasing Demand in Flexible Packaging

The gravure printing inks market is significantly driven by the growing demand for flexible packaging across various industries including food, beverage, pharmaceuticals, and personal care. Flexible packaging benefits from gravure printing due to its ability to produce vibrant, high-quality, and consistent prints, essential for brand visibility and information dissemination on products. As consumer preferences shift towards lightweight, aesthetically pleasing, and sustainable packaging options, gravure printing's role in enhancing product appeal while offering customization and durability becomes more critical. This shift is evident in the increasing use of flexible materials like foils, films, and papers, which are ideally suited for gravure printing, fueling further adoption of these inks.

Expansion of High-Barrier Packaging Materials

An emerging opportunity in the gravure printing inks market is the expansion of high-barrier packaging materials. These materials are crucial in extending the shelf life of perishable goods by protecting them against moisture, light, and air. Gravure printing's precision and quality are advantageous when applying complex multi-layered barrier coatings, which are increasingly prevalent in food safety and waste reduction efforts. The trend toward more sustainable packaging solutions that offer extended product freshness is expected to increase the utilization of advanced inks that are compatible with high-barrier substrates, thus broadening the market's scope.

Shift Towards Digital Printing Technologies

A significant restraint facing the gravure printing inks market is the shift towards digital printing technologies. Digital printing offers quicker setup times, cost-effectiveness for short runs, and greater flexibility in print design changes, making it attractive for small to medium-sized enterprises and applications requiring high customization. As digital technologies continue to advance, offering enhanced speeds and quality, their adoption is expected to increase, particularly in developed markets where manufacturers are quick to adopt newer, more efficient technologies. This shift challenges the gravure ink market, as digital printing requires different types of inks and does not involve the use of cylinders, a fundamental component of gravure printing.

Regulatory Pressures on Solvent-based Inks

The gravure printing inks market faces challenges from increasing regulatory pressures regarding the use of solvent-based inks, which are prevalent in gravure printing. Environmental concerns over volatile organic compound (VOC) emissions from these inks are prompting governments worldwide to enforce stricter regulations. This has led to a heightened focus on developing water-based and UV-curable inks, which are less harmful to the environment. The challenge for the industry is to maintain the quality and durability of prints while transitioning to eco-friendlier alternatives, which may not yet meet the performance standards set by solvent-based counterparts.

Market Segmentation by Resin Type

The gravure printing inks market is segmented by resin type into nitrocellulose, polyamide, polyurethane, acrylic, and others. Acrylic-based inks are anticipated to dominate the market in terms of revenue due to their superior adhesion properties, clarity, and resistance to weathering, making them ideal for high-quality packaging and labeling applications. Meanwhile, polyurethane inks are expected to register the highest CAGR. This growth is driven by their exceptional flexibility, abrasion resistance, and solvent resistance, which are critical for packaging applications that demand durability under various environmental conditions. The versatility of polyurethane inks in printing on different substrates also supports their rapid adoption, particularly in industrial and automotive labeling applications where longevity and clarity of information are paramount.

Market Segmentation by Technology

In terms of technology, the gravure printing inks market is segmented into water-based, solvent-based, and other technologies. Solvent-based inks currently lead the market in revenue due to their longstanding use in high-speed printing and their ability to achieve vibrant, long-lasting prints. They are particularly prevalent in applications requiring durability and high gloss, such as confectionery packaging and cosmetic labels. However, water-based inks are projected to exhibit the highest CAGR, driven by escalating environmental regulations and growing health awareness among consumers and manufacturers. The shift towards sustainable practices is compelling ink manufacturers to innovate and improve the performance of water-based inks to match that of their solvent-based counterparts, thus ensuring compliance with VOC emission standards while maintaining print quality and durability. This segment's growth is further bolstered by advancements in water-based ink technology that enhance drying times and adhesion, enabling their broader application across various printing substrates.

Geographic Trends in the Gravure Printing Inks Market

The gravure printing inks market demonstrates distinct geographic trends, where Asia-Pacific dominates in terms of revenue, driven by extensive industrial growth, increasing urbanization, and the expansion of the packaging sector in countries like China, India, and Japan. This region benefits from a robust manufacturing base and significant investments in food and beverage, pharmaceuticals, and consumer goods sectors, all of which heavily utilize gravure printing for packaging. North America and Europe also show substantial market participation but face stringent environmental regulations that challenge market dynamics. Despite this, Asia-Pacific is not only the revenue leader but is also expected to register the highest CAGR from 2024 to 2032, fueled by continuing industrial expansions and rising consumer demands for high-quality printed materials.

Competitive Trends and Key Strategies in the Gravure Printing Inks Market

The competitive landscape of the gravure printing inks market is marked by the presence of major players like Toyo Ink SC Holdings Co., Ltd., Sakata INX Corporation, Wikoff Color Corporation, Dainichiseika Color & Chemicals Mfg. Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, Huber Group, Tokyo Printing Ink Mfg. Co., Ltd., DIC Corporation, FUJIFILM Holdings Corporation, Marabu GmbH & Co. KG, and Nutec Digital Ink. In 2023, these companies showcased strategies that primarily focused on product innovation, mergers, and acquisitions to broaden their product portfolios and enhance their global footprint. For example, DIC Corporation leveraged its global network to expand its reach in emerging markets, while Siegwerk focused on sustainable solutions, reflecting the industry's shift towards environmentally friendly inks. FUJIFILM Holdings Corporation emphasized digital ink solutions, aligning with the shift from traditional to digital printing techniques. Over the forecast period from 2024 to 2032, these companies are expected to continue their focus on innovation, with an increased emphasis on sustainability and digital printing technologies to meet changing consumer preferences and regulatory requirements. The continued pursuit of mergers and strategic collaborations is anticipated to be a crucial approach to maintaining competitive advantage and accessing new markets, particularly in regions with stringent environmental regulations.