#Letterpress ink drivers

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. 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. The lockdown imposed during COVID-19, has increased the number of online buyers for various consumer goods like food, clothing, and pharmaceuticals products. 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.

#Letterpress ink drivers

Letterpress Ink Market Drivers Increase in Consumption of Paper This will have positive impact on the growth of global letterpress ink industry. 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.

Further, according to Indian Newspaper Society, in 2021, revenue from newspaper consumption reached 80-90%. For instance, according to China National Bureau of Statistics, in November 2020, paper production in China increased by 8% compared to 2019 same month. The increase in consumption and production of paper in these countries has positively impacted the demand of letterpress ink. 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. Report CoverageĪsia-Pacific held the largest share in global letterpress ink market in 2021, with a share of over 33%. Such decrease in consumption of paper and inks, negatively impacted the growth of global letterpress ink industry. 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. 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%. COVID restriction decreased the consumption of paper and reduced the demand for printing & packaging inks. Letterpress ink is used in paper for commercial printing and printing ink like letterpress ink is also used as packaging ink. 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.

The unfavorable effects left by COVID-19 harmed the functionality of various industrial sectors like paper. 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. 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. Hence, due to such applicability, letterpress ink is majorly used in sectors like paper, plastic, and packaging. Major application of letterpress ink encompass commercial printing, label printing and also in printing of cards, forms and invitations.

The ink is available in various types like water-based ink, solvent ink, UV Cured inks and oil-based inks. 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. 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.