Packaging adds a unique value to any product and distinguishes it from other similar products.
Packaging printers are a major end-user of UV-cured screen printing inks. Demand for UV-cured screen printing inks in the packaging industry has been increasing over the last few years.
These inks witness high demand in flexographic, sheet-fed, and screen printing.
The global packaging industry is estimated to be valued at around $1,000 billion by 2020. This would significantly augment the global demand for water-borne screen printing inks in the next few years. These trends are projected to fuel the global screen printing inks market in the near future.
Packaging is a key segment of the screen printing inks market. A rise in the demand for flexible packaging in the food & beverage sector is expected to boost the demand for water-borne screen printing inks in the next few years. The packaging application segment comprises printing on several products such as flexible packages, corrugated containers, tags and labels, folding cartons, and metal cans.
Based on the region, the global screen printing inks market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific led the global market in 2017.
According to leading manufacturers of screen printing inks based in Asia Pacific, the demand for screen printing inks in the region has been increasing, especially in packaging and automotive sectors. Furthermore, the market in India, Mexico, and Brazil is expanding at a substantial pace due to the rising demand for screen printing inks for use in automotive component printing.
Asia Pacific is expected to remain an attractive market for screen printing inks during the forecast period. International players have increased their focus on Asia Pacific, owing to large-scale production of automobiles and growth of the packaging industry in countries such as India, Vietnam, and Singapore.
Demand for screen printing inks in Latin America and Middle East & Africa is anticipated to increase at a rapid pace during the forecast period. In terms of value, the market in these regions is estimated to expand significantly between 2018 and 2026, owing to a rise in the consumption of screen printing inks for automotive component printing.