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    Features

    The 2016 Chinese Ink Market

    Even as economic growth slows, domestic and international ink manufacturers alike are seeing strong growth in packaging.

    The 2016 Chinese Ink Market
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    David Savastano, Editor09.23.16
    As the largest economy in the Asia-Pacific region, China continues to enjoy strong economic growth. The World Bank reported that China’s gross domestic product (GDP) was $10.87 trillion in 2015, an increase of 6.9% from 2014. The country has approximately 20% of the world’s population, at 1.371 billion.

    Not surprisingly, China has a sizable printing industry, with estimates placing the country’s printing output at $160 billion. Chinese printers have a strong mix of business on both the domestic and export sides.

    The ink industry in China is also large, with Ink World estimating annual sales at more than $1.5 billion. Offset and gravure inks are the mainstay of the ink industry in China, with the use of flexo and digital inks on the rise. The growth in interest in inkjet printing can be seen by the recent announcements of new facilities by both EFI and Domino Printing Technology.

    Ink Manufacturers and China

    The Chinese ink market features a mix of domestic and multinational ink manufacturers. On the domestic side, Bauhinia Variegata Ink & Chemicals, a subsidiary of Yip’s Chemical, is the 13th largest ink manufacturer in the world according to Ink World’s Top International Ink Companies report (July/August 2016).

    Bauhinia Variegata Ink & Chemicals reported nearly $200 million in sales in 2015, primarily in gravure, offset, screen and UV inks, and has production bases in southern, eastern and northern China, respectively. A company spokesperson noted that there was a slowdown in printing during the past year.

    “The continued decline in the printing and ink industries in China is a result of the sluggish market demand,” a Bauhinia Variegata Ink & Chemicals spokesperson said.

    Among other Chinese domestic ink industry leaders, Xinxiang Wende Xiangchuan Printing Ink Co., Ltd. is thought to have $100 million in annual sales, while Letong Chemical Products Co., Ltd. is estimated at $70 million in 2015.

    International ink producers have a sizable stake in the China. The two largest ink manufacturers are Hangzhou Toka Ink, a joint venture with T&K Toka, and Tianjin Toyo Ink Co., Ltd., a joint venture with Toyo Ink. DIC Corporation has been active in China since 1919; DIC (China) Co., Ltd., a subsidiary of DIC Corporation, has seven ink facilities.

    Among the six largest ink manufacturers globally, Toyo Ink has 10 ink manufacturing plants in China. Flint Group (seven locations), Siegwerk (five), Sakata INX (three) and hubergroup (two) are also prominent in China.

    The past year brought growth to ink manufacturers in China, although that expansion was slower than in recent years.

    Tadashi Nakano, manager, Global Business Division, Toyo Ink Co., Ltd., reported that despite an economic slowdown, China’s printing market has proven to be highly resilient to both external and internal pressures, driven by packaging.

    “The market expanded at a level higher than its GDP, buoyed by a robust packaging sector,” said Nakano. “A burgeoning middle class continues to boost consumer demand for functional flexible packaging that supports changes in consumer lifestyle and diet. The flexible plastic packaging segment continues to be the fastest growing sector, driving demand for materials and technology that support this growth.”

    Nakano added that sheetfed printing, offset rotary printing and the news ink markets showed marginal growth as demand in these sectors remained sluggish.

    Yuichi Kataura, International Operations Division GM for Sakata INX, noted that the printing ink market was impacted by sluggish domestic consumption due to a slowdown in the Chinese economy in 2015, although packaging remains a growth area.

    “In the offset printing market, severe competition in the price of ink was seen since the price unit for printing dropped,” Kataura said. “The demands for safer and multi-functional packaging materials are increasing as awareness of food safety in the packaging field is growing.”

    Hangzhou Toka president Akihiro Takamizawa noted that in the last year, the Chinese printing industry and ink industry have seen an overall decrease, although good opportunities are emerging in flexo, UV and digital ink.

    “We expect steady growth in these areas in the future, but there will not be an explosive growth,” Takamizawa added.

    “Thrift ordinance and government’s strict control over government spending slowed down China’s economic growth, and due to this trend, the printing and ink industry were negatively impacted,” a DIC Printing Ink Division spokesperson reported. “Digitalization continuously affected total volume of publication, especially newspapers.”
    Jason Zhang of Haiyan Huada Ink Chemical Co, Ltd. noted that Huada Ink focuses on the sheetfed offset and UV ink markets.

    “Considering China is already one of the largest market in the world, we have no reason to focus on other markets than China,” said Zhang. “As long as the living quality of Chinese people is not satisfied, the economy will maintain a middle to high speed growth.”

    Expanding in China

    As growth continues in China, ink manufacturers are expanding their operations.

    Nakano said that China remains an important source of growth for the Toyo Ink Group, as the company’s recent expansion shows.

    “Despite a slowdown in growth in recent years, China, the world’s second largest printing market, presents further growth opportunities as the infrastructure and consumer markets in this region continue to expand,” Nakano noted. “In 2013, we launched a gravure factory in Chengdu, Sichuan province, and an offset factory, Sichuan Toyo Ink, came on stream in the same region in fall 2015. This was the final stage in our regional plan to establish a production base in all major markets in the country. The Toyo Ink Group now intends to use this leverage its expanded production capacity to promote local sales and develop value-added products for the local market.”

    A DIC Printing Ink Division spokesperson noted that China is one of the most important markets for DIC.

    “DIC opened its mother plant in Nantong and has been enhancing its capability,” said the DIC spokesperson. “DIC expects the China ink market to continue to grow, especially in the packaging segment.”

    Sakata INX is also expanding its capabilities in China.

    “We will be moving into a new plant with more space in Guangzhou, China,” Kataura said. “We also have plans to build a new offset ink plant in Maoming, China.” n

    For more information on the Chinese ink market, see the online version at www.inkworldmagazine.com.
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