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全球油性印刷油墨市場 - 2023-2030

Global Oil-Based Printing Inks Market - 2023-2030

出版日期: 2024年02月09日 | 出版商:

DataM Intelligence | 英文 201 Pages | 商品交期: 約2個工作天內

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簡介目錄

概述

2022年，全球油性印刷油墨市場達到112億美元，預計2030年將達到162億美元，2023-2030年預測期間CAGR為4.2%。

隨著數位化程度的提高導致印刷媒體行業的需求下降，油基印刷油墨的使用正在迅速擴展到更多非常規應用。電子商務、快速消費品和商業印刷目前佔印刷油墨需求的很大一部分，預計未來幾年將繼續上升。

創新步伐緩慢，加上該行業未能擺脫對礦物油基印刷油墨的依賴，可能會為未來的市場成長帶來障礙。該行業對不斷變化的消費趨勢的反應可能會很緩慢，從而導致無法利用即將到來的重大成長機會。

動力學

包裝快餐的需求不斷增加

過去十年不斷變化的社會經濟趨勢導致對包裝速食的需求增加，特別是在新興國家。許多社會分析家指出，都市化率上升與包裝速食消費增加之間存在相關性。由於城市人口因其便利和忙碌的生活方式而傾向於選擇包裝食品，因此速食公司將重點放在城市中心以尋求新的成長機會。

由於新興市場目前正在經歷大規模的經濟轉型，導致可支配收入增加。隨著公司業務的擴展，對品牌包裝和商品的需求也隨之增加。由於速食公司的擴張是一個長期現象，因此在預測期內將為油性印刷油墨創造穩定且長期的需求。

全球電子商務的擴張

儘管全球電商產業快速成長，但在南美洲、中東和非洲、亞太等發展中地區成長更為明顯。高成長率是多種因素共同作用的結果，包括數位化程度的提高和電子商務領域外國直接投資的增加。

投資銀行摩根士丹利在一份報告中預計，未來五年，東南亞和拉丁美洲部分地區的電子商務成長率可能達到17%至20%，幾乎是全球平均的兩倍。該報告還指出，COVID-19 大流行極大地推動了電子商務的發展，所有零售額的近 22% 是在網上進行的，而大流行之前這一比例為 15%。

油性印刷油墨廣泛應用於電子商務行業，用於印刷運輸圖形、標誌、標籤、托盤標籤和記錄。隨著電子商務產業的快速擴張，全球對油基印刷油墨的整體需求可能會在預測期內增加。

原物料價格波動

全球油基印刷油墨市場成長的最大障礙之一預計是各種原料價格的波動加劇。俄羅斯烏克蘭戰爭後，全球原油價格自 2014 年以來首次突破每桶 100 美元。儘管隨著供應憂慮的消散，價格有所回落，但在 2022 年和 2023 年的大部分時間裡，價格一直保持在每桶 80 美元以上。

原油衍生性商品是礦物油基印刷油墨製造的關鍵成分。高原油價格迫使製造商提高價格以抵銷投入成本。然而，全球市場的基本結構放大了原物料價格波動所造成的問題。

全球市場相對分散，許多製造商都是中小企業。為了在競爭異常激烈的市場中靠著微薄的利潤生存，這些製造商必須將成本增加轉嫁給最終用戶。包裝成本的上升迫使企業尋找替代的包裝解決方案或轉向不同的供應商以尋求更低的價格。

產能大的大型油墨製造商能夠更好地承受中短期的價格波動。然而，原料價格的持續波動迫使較小的參與者退出，並鞏固了市場，有利於少數大型參與者，從而導致所有最終用戶的價格上漲。

The usage of oil-based printing ink is rapidly expanding towards more unconventional applications with increasing digitalization leading to falling demand from the print media industry. E-commerce, FMCG and commercial printing currently account for a large share of the demand for printing inks and is expected to continue upwards over the coming years.

The slow pace of innovation coupled with the failure of the industry to shed its dependence on mineral oil-based printing inks is likely to create hurdles for future market growth. The industry is likely to be slow to respond to changing consumer trends, leading to a failure to capitalize on major upcoming growth opportunities.

Dynamics

Increasing Demand for Packaged Fast Foods

Changing socio-economic trends over the past decade have led to an increase in demand for packaged fast food items, especially in emerging countries. Many social analysts point out the correlation between rising rates of urbanization and increasing consumption of packaged fast foods. Since urban populations tend to prefer packaged food due to their convenience and hectic lifestyles, fast food corporations focus on urban centers for new growth opportunities.

Since emerging markets are currently undergoing a massive economic transformation, leading to rise in disposable incomes. As companies expand their operations, it creates a parallel rise in demand for branded packaging and merchandise. Since the expansion of fast food companies is a long-term phenomenon, it will create stable and long lasting demand for oil-based printing inks over the forecast period.

Expansion of Global E-Commerce

Although the global e-commerce industry is witnessing rapid growth, it has been more pronounced in developing regions such as South America, Middle East and Africa and Asia-Pacific. A combination of several factors including increasing digitalization and rising rates of FDI in the e-commerce sector are responsible for the high growth rates.

The investment bank Morgan Stanley has estimated in a report that e-commerce growth rates in parts of southeast Asia and Latin America could reach 17% to 20% over the next five years, nearly double of the global average. The report also stated that COVID-19 pandemic has given a big boost to e-commerce, with nearly 22% of all retail sales being conducted online as compared to 15% just before the pandemic.

Oil-based printing ink is widely used within the e-commerce industry for printing shipping graphics, logos, labels, pallet tags and records. As the e-commerce industry undergoes rapid expansion, the overall global demand for oil-based printing inks is likely to increase during the forecast period.

Volatility in Raw Material Prices

One of the biggest hindrances for the growth of the global oil-based printing ink market is expected to be the growing volatility in the prices of various raw materials. Global crude oil prices breached US$ 100 per barrel for the first time since 2014 in wake of Russia's war in Ukraine. Although prices eased somewhat as supply worries dispersed, they have consistently stayed above US$ 80 per barrel throughout 2022 and most of 2023.

Crude oil-based derivatives are a key component in the manufacturing of mineral-oil based printing inks. High crude oil prices force manufacturers to hike prices in order to offset input costs. However, the fundamental structure of the global market magnifies the problems created by volatility in raw material prices.

The global market is relatively fragmented with many manufacturers being small and medium enterprises. Surviving on razor-thin profit margins in an ultra-competitive market, these manufacturers must pass on cost increase to their end-users. A rise in packaging costs forces businesses to look for alternative packaging solutions or migrate to a different supplier in search of lower prices.

Big ink manufacturers with large production capacities are able to better withstand the short and medium term price volatility. However, persistent volatility in raw material prices forces out smaller players and consolidates the market in favour of a few big players, thereby leading to increased prices for all end-users.

Segment Analysis

The global oil-based printing ink market is segmented based on type, printing technique, application, end-user and region.

Mineral oil-based inks are expected to garner the highest market share during the forecast period

Mineral oil-based inks continue to garner the highest market share in the global market. One of the key factors aiding their dominance is their cost effectiveness. Mineral oil-based printing inks are easily reproducable and are available in a wide variety of shades and colors. Furthermore, the inks dries quickly and has superior adhesion properties on plastic and metal surfaces.

The uptake of vegetable oil-based printing inks has been relatively slow over the past few years. Although growing environmental concerns have increased the popularity of eco-friendly inks derived from vegetable oils, supply chain constraints and high production costs limit their long-term growth potential.

Geographical Penetration

E-Commerce Expansion will Propel Market Growth in Asia-Pacific

Asia-Pacific will have the highest share within the global oil-based printing ink market since the region offers unique, long-term growth opportunities that are not readily available in developed regions such as Europe and North America. Although high population countries such as China and India are the major growth engines in the region, smaller countries such as Malaysia, Indonesia, Thailand and Vietnam have also begun accounting for a significant share of the regional growth in demand.

Malaysia has witnessed a massive increase in e-commerce over the past decade due to a dynamic economic growth and widespread development of digital infrastructure. The Malaysian e-commerce industry grew by nearly 20% to clock in revenues of MYR 38.2 billion (US$ 9.2 billion) in 2022. As multinational companies partner with local e-commerce ventures for unlocking last-mile market access, the demand for oil-based printing ink will increase considerably over the long term.

Although the Chinese e-commerce industry suffered a short-term economic slowdown due to stringent COVID-19 management policies, it has recovered well in the aftermath. The National singles day sales, a proxy for the health of the e-commerce industry, recorded nearly 1.14 trillion yuan ($156.40 billion) of sales across all major platforms in 2023, an increase of 2.08% over the previous year.

COVID-19 Impact Analysis

The COVID-19 pandemic created several challenges for the global oil-based printing ink market. The pandemic injected major uncertainty in the global market as supply chain disruptions led to shortage of various materials. Furthermore, demand declined significantly across various end-users, although some healthcare associated industries witnessed a minor increase in demand.

The supply chain volatilities led several small and medium scale manufacturers to cut back on ink production, with companies even going bankrupt due to drying up of orders. Large-scale manufacturers fared relatively well, since they dipped into their reserve stocks. The crash in global crude oil prices at the beginning of the pandemic further allowed major players to stock up on precursor materials at relatively lower prices.

Despite facing challenging prospects over the course of the pandemic, the overall growth trajectory of the global market has remained relatively unaltered in the post-pandemic period. The strong rebound in economic activities of emerging countries has provided a much needed boost to market growth.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine created major impacts on the global oil-based printing ink market mainly due to two factors. The upheveal in global crude oil prices due to the invasion and the sanctions imposed on Russia, led to a significant short term spike in prices of precursors used in the manufacture of mineral oil-based printing inks.

Furthermore, given the fact that Ukraine is a major producer of sunflower and sunflower oil, the war-based disruption has led to increased prices, especially for companies manufacturing eco-friendly printing inks from sunflower oil, although sunflower oil only accounts for a small fraction of the global market.

Russia has been facing difficulties in able to import oil-based printing inks due to the economic sanctions since most Russian imports were from western European countries. Russia had to resort to the international grey market and route shipments through third countries in order to import inks. Some Russian end-users also utilized lower quality inks from China.

By Type

Vegetable Oil-based Printing Inks
Mineral Oil-based Printing Inks

By Printing Technique

Lithography
Photolithography
Offset Printing

By Application

Corrugated Cardboards
Flexible Packaging
Tags & Labels
Folding Cartons
Others

By End-User

Packaging
Print Media
Commercial Printing
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
South America
- Brazil
- Argentina
- Rest of South America
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Middle East and Africa

Key Developments

In October 2023, a joint report by French and German research institutes published a report on the current state of circular economy in the printing inks industry. The report detailed the fact phasing out mineral oil-based inks in favor of more eco-friendly alternatives offered many benefits for the global industry.
In August 2023, Flint Group, a major manufacturer of printing inks, announced that it was removing mineral oil from its portfolio of sheetfed process inks and is moving towards a more sustainable formulation.
In October 2023, Actega, a Brazilian developer of printing inks, announced the consolidation of its operations at a single facility in Aracariguama, Brazil.

Competitive Landscape

The major global players in the market include Dow, Sicpa Holding SA, Epple Druckfarben AG, Sakata Inx Corporation, Dainichiseika Color & Chemicals Mfg.Co., Ltd., Van Son Ink Corporation, Sun Chemical Corporation, Zeller+Gmelin, Fujifilm Sericol India and Tokyo Printing Ink Mfg. Co., Ltd.

Why Purchase the Report?

To visualize the global oil-based printing ink market segmentation based on type, printing technique, application, end-user and region, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of pouch tapes market-level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as excel consisting of key products of all the major players.

The global oil-based printing ink market report would provide approximately 60 tables, 61 figures and 201 Pages.

Target Audience 2023

Packaging Solutions Manufacturers
Printing Paper Manufacturers
Industry Investors/Investment Bankers
Research Professionals

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Type
3.2. Snippet by Printing Technique
3.3. Snippet by Application
3.4. Snippet by End-User
3.5. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Increasing Demand for Packaged Fast Foods
  - 4.1.1.2. Expansion of Global E-Commerce
- 4.1.2. Restraints
  - 4.1.2.1. Volatility in Raw Material Prices
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion

6. COVID-19 Analysis

6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. By Type

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
7.2. Vegetable Oil-based Printing Inks*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Mineral Oil-based Printing Inks

8. By Printing Technique

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 8.1.2. Market Attractiveness Index, By Printing Technique
8.2. Lithography*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Photolithography
8.4. Offset Printing

9. By Application

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
9.2. Corrugated Cardboards*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Flexible Packaging
9.4. Tags & Labels
9.5. Folding Cartons
9.6. Others

10. By End-User

10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.1.2. Market Attractiveness Index, By End-User
10.2. Packaging*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Print Media
10.4. Commercial Printing
10.5. Others

11. By Region

11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.2.7.1. U.S.
  - 11.2.7.2. Canada
  - 11.2.7.3. Mexico
11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.3.7.1. Germany
  - 11.3.7.2. UK
  - 11.3.7.3. France
  - 11.3.7.4. Italy
  - 11.3.7.5. Spain
  - 11.3.7.6. Rest of Europe
11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.4.7.1. Brazil
  - 11.4.7.2. Argentina
  - 11.4.7.3. Rest of South America
11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 11.5.7.1. China
  - 11.5.7.2. India
  - 11.5.7.3. Japan
  - 11.5.7.4. Australia
  - 11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Printing Technique
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User

12. Competitive Landscape

12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis

13. Company Profiles

13.1. Dow*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
13.2. Sicpa Holding SA
13.3. Epple Druckfarben AG
13.4. Sakata Inx Corporation
13.5. Dainichiseika Color & Chemicals Mfg.Co.,Ltd.
13.6. Van Son Ink Corporation
13.7. Sun Chemical Corporation
13.8. Zeller+Gmelin
13.9. Fujifilm Sericol India
13.10. Tokyo Printing Ink Mfg. Co., Ltd.

LIST NOT EXHAUSTIVE