Bio-based Inks: Introduction
The global bio-based inks market is anticipated to expand rapidly during the forecast period, due to growth in the packaging sector. Bio-based inks are used for printing on paperboard and cardboard as well as non-porous substrates such as plastic wraps and bags.
Key Drivers of Bio-based Inks Market
Growth of the food & beverages industry and expansion in the health care have boosted the demand for safe printing inks across the globe. The printing inks market is expected to benefit from high demand for bio-based inks used in printing applications, such as ink jet, gravure, and flexography. These printing inks are gaining popularity, as they are far more advantageous than traditional printing inks. Demand for bio-based inks is expected to rise in the next few years due to stringent environmental regulations pertaining to the usage of VOC inks. The market is likely to witness significant growth, owing to the bio-compatible properties of these inks, such as waste reduction, low pollutant emission, and low energy usage.
Rise in penetration of bio-based products creates ample opportunities for the market. Growth in awareness about the harmful effects of Volatile Organic Compound (VOC) emissions in printing inks has boosted the demand for printing inks made from bio-based products. Additionally, increase in demand for bio-based products in end-use industries, such as food & beverages, printing, packaging, and publication, is expected to propel the growth of the printing inks market during the forecast period. Increase in investments in research and development activities is expected to drive the market. Market participants are focusing on developing new and innovative solutions to support customers in addressing environment-friendly requirements. These investments are likely to propel the demand for the printing inks during the forecast period.
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Packaging Application Segment to Offer Lucrative Opportunities
Based on application, the packaging segment accounted for a major share of the global bio-based inks market in 2019. Packaging is a common application of printing inks. All types of packaging require printing inks to denote information such as date of manufacturing, logo, and design.
The commercial printing segment also accounted for key share of the global bio-based inks market in 2019. The segment is anticipated to gain higher share during the forecast period, due to increase in sales of paperback books. Sales of paperback books are increasing owing to the rise in subscriptions of e-books. This, in turn, is driving publishing and commercial printing segments of the global bio-based inks market.
The others segment comprises photograph reproduction, fine art, and wall covers. The segment is expected to lose share during the forecast period, due to factors such as rise in use of digitization and increase in consumption of substitute products.
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