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Letterpress Ink Market Overview
Global letterpress ink market size estimated to reach US$4.2 billion by 2027, after growing at a CAGR of 3.7% from 2022-2027. Letterpress ink is used in letterpress printing process in which the ink is applied on various surfaces of printing plates, mainly consisting of elastic materials like rubber and resins. The ink is available in various types like water-based ink, solvent ink, UV Cured inks and oil-based inks. Major application of letterpress ink encompass commercial printing, label printing and also in printing of cards, forms and invitations. Hence, due to such applicability, letterpress ink is majorly used in sectors like paper, plastic, and packaging. Factors like increase in consumption of papers, increase in number of e-commerce sales and growing number of occasional events like weddings are driving the growth of global letterpress ink market. However, the availability of substitute printing technique like offset printing and flexographic printing will lead to less usage of letterpress printing process in certain sectors, which can hamper the growth of global letterpress ink industry.
COVID-19 Impact
The unfavorable effects left by COVID-19 harmed the functionality of various industrial sectors like paper. Lockdown and other social restrictions implemented by governments across the world caused a reduction in productivity of such industrial sector which led to high loss incurring and job cutting in it. Letterpress ink is used in paper for commercial printing and printing ink like letterpress ink is also used as packaging ink. COVID restriction decreased the consumption of paper and reduced the demand for printing & packaging inks. For instance, according to Confederation of European Paper Industries, in 2020, European paper and board consumption decreased by 5.3% compared to 2019, totaling 71 million tones, while overall output of graphic grades including newsprint fell by 19%. Further, according to European Printing Ink Association, in 2020, the European market for packaging inks fell by 1% to 530,000 tons, while the market for publication inks fell by nearly 20% to 290,000 tons. Such decrease in consumption of paper and inks, negatively impacted the growth of global letterpress ink industry.
Report Coverage
The report: “Letterpress Ink Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Letterpress Ink Industry
By Machines – Platen Press, Flatbed Press, Rotary Press, and Belt Press
By Ink Type – Water-based Ink, UV-Cured Ink, Solvent-based Ink, Oil-based Ink, and Rubber Ink
By Resins – Alkyd, Rubber, and Acrylic
By Application – Commercial Printing (Newspaper, Magazines, and Others), Label Printing, Book Printing (Numbering, Folding, Stamping, and Others (Cards, Forms, and Invitations)
By End User – Packaging, Paper (Decorative, Laminated, and Others), Plastics (Cell phones, Folder, Plastic Bag, Ring Binders and Pen caps), and Others
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)
Key Takeaways
- Asia-Pacific dominates the global letterpress ink industry as the region consists of major economies like China, India and Japan which are major consumers of print media like newspaper in which letterpress ink is majorly used.
- Letterpress printing is one of the major printing processes distinguished by its use of raised metal type and its legacy lives in flexography, a relieved printing technique which uses flexible rubber plates.
- Letterpress printing has high applicability in packaging sectors as it is used for labelling details in packaged products and it uses four ink plates and pantone colors for printing details.
Figure: Asia-Pacific Letterpress Ink Market Revenue, 2021-2027 (US$ Billion)
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Letterpress Ink Market Segment Analysis – By Ink Type
Oil-based ink held a significant share in global letterpress ink market in 2021, with a share of over 26%. Oil-based ink dries fast when printed on paper, and they have varying drying characteristics dependent on the amount and type of driers used in the ink formulation. Oil-based ink is used in print media for newspaper, magazines and books. The growing consumption of paper for print media has positively impacted the usage of oil-based letterpress ink. For instance, according to China National Bureau of Statistics, in 2020, newsprint production increased by 13.5% to 84,000 tones. Further, according to America Forest & Paper Association, in August 2021, US purchase of total printing-writing papers increased 12%, while shipment increased by 14%. Such increase in production and consumption of paper will increase the usage of oil-based ink, which will positively impact the growth of global letterpress ink industry.
Letterpress Ink Market Segment Analysis – By End User
Paper sector held a significant share in global letterpress ink market in 2021, with a share of over 31%. In paper sector letterpress plates are used on several types of presses to print a rich and varied assortment of products including newspaper, books and magazines. The rapid development in print media has led to increase in usage of letterpress ink like oil-based ink, water-based ink or solvent ink for commercial printing. For instance, according to American Forest & Paper Association, in June 2021, total printing-writing paper shipments by US increased 10% and its import of printing-writing papers increased 16% compared to 2020 same month. Such increase in consumption of printing-writing paper by major economy like US, will lead to more usage of letterpress ink in paper sector. This will have a positive impact on the growth of global letterpress ink industry.
letterpress Ink Market Segment Analysis – By Geography
Asia-Pacific held the largest share in global letterpress ink market in 2021, with a share of over 33%. The region consists of major end user of letterpress ink such as paper sector in major economies like China, India and Japan which are largest consumers of print media like newspaper and magazines. The increase in consumption and production of paper in these countries has positively impacted the demand of letterpress ink. For instance, according to China National Bureau of Statistics, in November 2020, paper production in China increased by 8% compared to 2019 same month. Further, according to Indian Newspaper Society, in 2021, revenue from newspaper consumption reached 80-90%. Such increase in consumption of newspaper in India and China, will lead to more usage of letterpress inks in the paper sector in these countries for commercial printing. This will have positive impact on the growth of global letterpress ink industry.
Letterpress Ink Market Drivers
Increase in Consumption of Paper
The increase in consumption of paper for newspaper, magazines and other print medias in developed nations has positively impacted the demand for letterpress ink like oil-based, water-based ink and UV cured ink in the paper industry. For instance, according to Printing-Writing monthly report of American Forest & Paper Association, in May 2021, U.S. purchases of total printing-writing papers increased by 6% compared to the same month in 2020, and total printing-writing paper shipments increased 11%. Also, according to another report by the American Forest & Paper Association, in December 2021, US purchase of printing-writing papers increased by 8% while purchase of uncoated free sheets increased by 2%. Hence, such an increase in the consumption of paper will increase the demand for letterpress ink in the paper industry commercial printing. This will positively impact on the growth of global letterpress ink industry.
Increase in E-commerce sales
In today's world, as per the current trends prevailing in the packaging industry, the big brands tend to segment their products based on printed packaging. The lockdown imposed during COVID-19, has increased the number of online buyers for various consumer goods like food, clothing, and pharmaceuticals products. The rise in online shopping has led to increase in labelling & packaging of online ordered products which will increase the usage of printing inks like letterpress ink for labelling product details on packaged items. For instance, according to U.S Department of Commerce, in 2020, online sales of consumer goods like fashion & electronics items grew by 31.8% compared to 14.3% in 2019. Further, according to U.S Census Bureau, in Q4 2020, the food and beverage e-commerce sales was US$7.3 billion, showing an increase of 11.7% from Q3. Such increase in e-commerce sales of consumer goods will increase the demand for letterpress ink such as water-based ink or UV cured ink for labelling of such products. This will have a positive impact on the growth of global letterpress ink industry.
Letterpress Ink Market Challenges
Availability of Substitutes
Letterpress requires much time to adjust the press due to difference in thickness of engraving and plates. Hence, due to maximum time taken in adjusting plates and preparing the press, many sectors have started switching to other printing techniques. For instance, paper sector has switched to offset printing for commercial printing while packaging sector has switched to flexographic printing for labelling on plastic packages. Such availability of substitutes will restrict the usage of letterpress ink in paper and packaging sector, which will hamper the growth of global letterpress ink industry.
Letterpress Ink Industry Outlook
The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In global letterpress ink market report, the global letterpress ink top 10 companies are:
- Sun Chemical Corporation
- DIC Corporation
- Tokyo Printing Ink
- Flint Group
- INX International Ink co
- Huber Group
- Siegwerk Druckfarben
- Zeller Gmelin
- T&C Toka Co. Ltd
- Label Planet Ltd.
Recent Developments
- In 2021, Flint Group launched its ONE CODE solvent-based ink and coating range in Europe. Hence with the launch of such a product, the company will be able to bring ultimate print flexibility and efficiency in flexible packaging.
- In 2021, Huber Group acquired Alden & OTT Printing Ink company. Hence such acquisition will help Huber Group to expand its customer base in Midwest and Northeast without any interruptions.
- In 2020, DIC Corporation acquired Liaoning Tianqi Technology’s liquid ink for packaging business and this acquisition will increase the company’s production capacity of liquid inks.
Relevant Reports
Report Code – CMR 65819
Printing Inks Market - Forecast (2022 - 2027)
Report Code – CMR 0449
Packaging Ink Market - Forecast (2022 - 2027)
Report Code – CMR 1163
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1. Letterpress Ink Market- Market Overview
1.1 Definitions and Scope
2. Letterpress Ink Market - Executive Summary
2.1 Key Trends by Machine
2.2 Key Trends by Resins
2.3 Key Trends by Ink Type
2.4 Key Trends by Application
2.5 Key Trends by End Use Industry
2.6 Key Trends by Geography
3. Letterpress Ink Market – Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Letterpress Ink Market - Startup companies Scenario Premium Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Letterpress Ink Market – Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Letterpress Ink Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 Threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Letterpress Ink Market – Strategic Analysis
7.1 Value/Supply Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Letterpress Ink Market – By Machines (Market Size – US$ Million/ Billion)
8.1 Platen Press
8.2 Flatbed Press
8.3 Rotary Press
8.4 Belt Press
9. Letterpress Ink Market – By Resins (Market Size – US$ Million/ Billion)
9.1 Alkyd
9.2 Rubber
9.3 Acrylic
9.4 Others
10. Letterpress Ink Market – By Ink Type (Market Size -US$ Million/Billion)
10.1 Water-based Ink
10.2 UV-cured Ink
10.3 Solvent-based Ink
10.4 Oil Based Ink
10.5 Rubber Based Ink
11. Letterpress Ink Market – By Application (Market Size – US$ Million/ Billion)
11.1 Commercial Printing
11.1.1 Newspaper
11.1.2 Magazines
11.1.3 Others
11.2 Label Printing
11.3 Book Printing
11.3.1 Folding
11.3.2 Stamping
11.3.3 Others
11.4 Others
11.4.1 Cards
11.4.2 Forms
11.4.3 Others
12. Letterpress Ink Market – By End Use Industry (Market Size – US$ Million/ Billion)
12.1 Packaging
12.1.1 Food & Beverage
12.1.2 Household Appliance
12.1.3 Electronic Device
12.1.4 Others
12.2 Paper
12.2.1 Decorative
12.2.2 Laminated
12.2.3 Others
12.3 Plastics
12.3.1 Cellphones
12.3.2 Folders
12.3.3 Plastic bags
12.3.4 Ring Binders
12.3.5 Pen Caps
12.4 Others
13. Letterpress Ink Market - By Geography (Market Size -US$ Million/Billion)
13.1 North America
13.1.1 USA
13.1.2 Canada
13.1.3 Mexico
13.2 Europe
13.2.1 UK
13.2.2 Germany
13.2.3 France
13.2.4 Italy
13.2.5 Netherlands
13.2.6 Spain
13.2.7 Russia
13.2.8 Belgium
13.2.9 Rest of Europe
13.3 Asia-Pacific
13.3.1 China
13.3.2 Japan
13.3.3 India
13.3.4 South Korea
13.3.5 Australia and New Zeeland
13.3.6 Indonesia
13.3.7 Taiwan
13.3.8 Malaysia
13.3.9 Rest of APAC
13.4 South America
13.4.1 Brazil
13.4.2 Argentina
13.4.3 Colombia
13.4.4 Chile
13.4.5 Rest of South America
13.5 Rest of the World
13.5.1 Middle East
13.5.1.1 Saudi Arabia
13.5.1.2 UAE
13.5.1.3 Israel
13.5.1.4 Rest of the Middle East
13.5.2 Africa
13.5.2.1 South Africa
13.5.2.2 Nigeria
13.5.2.3 Rest of Africa
14. Letterpress Ink Market – Entropy
14.1 New Product Launches
14.2 M&As, Collaborations, JVs and Partnerships
15. Letterpress Ink Market – Industry/Competition Segment Analysis Premium
15.1 Company Benchmarking Matrix – Major Companies
15.2 Market Share at Global Level - Major companies
15.3 Market Share by Key Region - Major companies
15.4 Market Share by Key Country - Major companies
15.5 Market Share by Key Application - Major companies
15.6 Market Share by Key Product Type/Product category - Major companies
16. Letterpress Ink Market – Key Company List by Country Premium Premium
17. Letterpress Ink Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
17.1 Company 1
17.2 Company 2
17.3 Company 3
17.4 Company 4
17.5 Company 5
17.6 Company 6
17.7 Company 7
17.8 Company 8
17.9 Company 9
17.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies*"
LIST OF TABLES
1.Global Letterpress Ink Market, by Type Market 2023-2030 ($M)2.Global Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
3.Global Letterpress Ink Market, by Type Market 2023-2030 (Volume/Units)
4.Global Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 (Volume/Units)
5.North America Letterpress Ink Market, by Type Market 2023-2030 ($M)
6.North America Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
7.South America Letterpress Ink Market, by Type Market 2023-2030 ($M)
8.South America Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
9.Europe Letterpress Ink Market, by Type Market 2023-2030 ($M)
10.Europe Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
11.APAC Letterpress Ink Market, by Type Market 2023-2030 ($M)
12.APAC Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
13.MENA Letterpress Ink Market, by Type Market 2023-2030 ($M)
14.MENA Letterpress Ink Market Analysis and Forecast by Type and Application Market 2023-2030 ($M)
LIST OF FIGURES
1.US Global Letterpress Ink Market Revenue, 2023-2030 ($M)
2.Canada Global Letterpress Ink Market Revenue, 2023-2030 ($M)
3.Mexico Global Letterpress Ink Market Revenue, 2023-2030 ($M)
4.Brazil Global Letterpress Ink Market Revenue, 2023-2030 ($M)
5.Argentina Global Letterpress Ink Market Revenue, 2023-2030 ($M)
6.Peru Global Letterpress Ink Market Revenue, 2023-2030 ($M)
7.Colombia Global Letterpress Ink Market Revenue, 2023-2030 ($M)
8.Chile Global Letterpress Ink Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Letterpress Ink Market Revenue, 2023-2030 ($M)
10.UK Global Letterpress Ink Market Revenue, 2023-2030 ($M)
11.Germany Global Letterpress Ink Market Revenue, 2023-2030 ($M)
12.France Global Letterpress Ink Market Revenue, 2023-2030 ($M)
13.Italy Global Letterpress Ink Market Revenue, 2023-2030 ($M)
14.Spain Global Letterpress Ink Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Letterpress Ink Market Revenue, 2023-2030 ($M)
16.China Global Letterpress Ink Market Revenue, 2023-2030 ($M)
17.India Global Letterpress Ink Market Revenue, 2023-2030 ($M)
18.Japan Global Letterpress Ink Market Revenue, 2023-2030 ($M)
19.South Korea Global Letterpress Ink Market Revenue, 2023-2030 ($M)
20.South Africa Global Letterpress Ink Market Revenue, 2023-2030 ($M)
21.North America Global Letterpress Ink Industry By Application
22.South America Global Letterpress Ink Industry By Application
23.Europe Global Letterpress Ink Industry By Application
24.APAC Global Letterpress Ink Industry By Application
25.MENA Global Letterpress Ink Industry By Application