By 2026, the bio-based ink market will usher in rapid development
The global demand for bio-derived solvents, pigments, additives and resins used in inks is growing rapidly because brands and printing service providers in various fields want to minimize their environmental impact. A new and exclusive study by Smithers, "The Future of Bio-based Inks and Coatings to 2026" (The Future of Bio-based Inks and Coatings to 2026). It is estimated that by 2021, the total value of the global bio-based inks and coatings market will reach 5.86 billion U.S. dollars. This will grow rapidly at a compound annual growth rate (CAGR) of 7.90%, reaching a forecast value of US$8.57 billion by 2026. This has greatly stimulated R&D activities, although ink suppliers are adjusting their product portfolios to adapt to the printing landscape completely reshaped by the Covid-19 pandemic
The food packaging market is expected to reach US$464.98 billion by 2027
Precedence Research predicts that the global food packaging market in 2019 will be 305.29 billion U.S. dollars and is expected to reach about 464.98 billion U.S. dollars by 2027, with a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2020 to 2027. With the emergence of various production equipment, the food packaging market is expected to show significant growth during the analysis period, with the goal of catching up with the latest trends in the market. In addition, the rapid changes in people's lifestyles and the shift of consumers' preference for food to packaged foods are expected to drive market growth during the forecast period.
By 2027, the global gravure printing ink market will reach 5.5 billion US dollars
In the COVID-19 crisis, the global gravure printing ink market is expected to reach US$4 billion by 2020 and US$5.5 billion by 2027, with a compound annual growth rate of 4.8% during the analysis period. Nitrocellulose, one of the parts analyzed in the report, is expected to record a compound annual growth rate of 5.2% and reach $2.1 billion at the end of the analysis period. It is estimated that by 2020, the market size of gravure printing inks in the United States will reach 1.1 billion US dollars. China is the world's second largest economy, and the market size is expected to reach US$1.2 billion by 2027, with a compound annual growth rate of 7.8% during the analysis period from 2020 to 2027. Other notable regional markets include Japan and Canada.