Market Overview: The global gravure printing ink market had a size of USD 3,890.3 Million in 2022 and is projected to experience a rapid revenue CAGR of 4.5% during the forecast period. This growth is primarily driven by increasing demand from the packaging, advertising, and branding sectors, as well as a shift towards eco-friendly gravure inks. Additionally, Research & Development (R&D) efforts aimed at developing superior gravure printing solutions are contributing to the market's revenue growth.

Environmental consciousness among consumers has led to a preference for eco-friendly ink solutions for printing. To meet this demand, companies are investing in R&D activities to introduce innovative eco-friendly ink series. For instance, Inkcups' GN Series pad printing ink, launched on 27 July 2022, offers eco-friendly alternatives compliant with European Printing Ink Association (EUPIA) regulations for food and beverage (F&B) packaging.

Strategic initiatives such as product launches, partnership agreements, mergers, and acquisitions are also playing a significant role in driving market revenue growth. For example, on 1 October 2020, Flint Group Packaging Inks acquired Poteet Printing Systems LLC, aligning with their acquisition-focused growth strategy.

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Market Dynamics: Driver: Increasing preference for sustainable gravure inks and growing demand from the packaging sector Growing awareness about environmental issues and the desire to reduce human impact on the planet have led consumers to favor eco-friendly printing solutions. Companies are actively investing in developing new ink types that are less harmful to the environment, exploring new materials and production processes to reduce waste and reliance on non-renewable resources.

Gravure Printing Inks are in high demand for print media applications such as oriented Polypropylene (OPP), Polyethylene, nylon, and Polyester, particularly in the packaging sector. Gravure printing excels at printing on thin films like polyester, nylon, and polyethylene, making it a preferred method for packaging. Companies are continuously innovating in this area, such as Siegwerk India launching the UniNature range of eco-friendly inks that maintain the recyclable nature of paper and board packaging while reducing microplastics.

Restraint: Government regulations on VOC emissions and paper-saving legislation Solvent-based gravure inks, widely used in the packaging sector, contain Volatile Organic Compounds (VOCs). Governments are increasingly adopting regulations to reduce VOC emissions into food, pharmaceutical products, and the environment, leading to restrictions in various sectors that use printing solutions for packaging.

Additionally, authorities are promoting paper-saving initiatives to address environmental degradation, which could impact the usage of paper for printing, potentially restraining the market's revenue growth. Digital payments and a rising preference for e-books also contribute to reduced paper usage.

Key Takeaways: Resin Type Outlook: The global gravure printing ink market is segmented by resin type, including acrylic, polyurethane, nitrocellulose, polyamide, polyester, and others. The polyester segment is expected to witness considerable revenue growth during the forecast period due to its vibrant prints, eco-friendly nature, easy disposal, and lack of absorption into the substrate, resulting in sharper outcomes.

Application Outlook: In terms of applications, the packaging segment is projected to hold the largest revenue share in the global gravure printing ink market during the forecast period. This is attributed to factors such as product differentiation, attractive appearance, product personalization, and identity. Digital printing is highly adaptable for packaging, offering flexibility for printing various items, including corrugated boxes, folding cartons, labels, prototypes, stand-up pouches, and more.

Technology Outlook: The water-based segment is expected to account for a significantly large revenue share in the global gravure printing ink market during the forecast period. Water-based inks offer excellent corrosion resistance, exterior durability, color control, and are compliant with environmentally-friendly ink solutions. Additionally, they reduce production costs by using fewer chemicals and petroleum-based materials, making them safer for employees and the environment compared to solvent-based inks.

Regional Outlook: The Asia Pacific region held the largest revenue share in the global gravure printing ink market in 2022, driven by increasing demand from the packaging and branding sectors and consumer preference for sustainable products. Several countries, including China, Japan, and India, are actively engaged in R&D activities to develop eco-friendly printing inks. Notably, India's Indian Institute of Technology (IIT) Roorkee and Afflatus Gravure collaborated to develop environment-friendly technology for flexible printing.

The European market is expected to witness steady revenue growth, fueled by rising demand from the F&B sector, increasing industrialization and digitalization, and growing environmental awareness. Government initiatives supporting clean energy are encouraging companies to develop sustainable inks and toners.

The North American market is characterized by the adoption of new technologies, government investments in R&D, and increasing demand from the advertising and branding sectors. Companies are focusing on developing products that cater to the environmentally-conscious preferences of consumers.

Competitive Landscape: The global gravure printing ink market is fragmented and highly competitive, with several players operating at both global and regional levels. Key players are engaged in expanding their portfolios, investing in R&D, and forming strategic alliances to enhance their market presence. Partnerships, collaborations, agreements, mergers, and acquisitions, along with new product launches and investments, are common growth strategies. Major companies in the market include Sun Chemical, DIC Corporation, Flint Group, InkTec Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, TOYO INK CO., LTD., Hubergroup, Sakata Inx Private Limited, Wikoff Color Corporation, T&K Toka Co., Ltd., among others.

For instance, Siegwerk launched Next Generation NC inks from their fully automated production facilities, featuring improved compositions that work well with cutting-edge manufacturing techniques and recent market trends. The NC ink series is suitable for printing various flexible packaging types using gravure and flexo, offering versatility and adaptability.

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