The global lithographic printing chemicals market, valued at USD 16.3 billion in 2023, is projected to reach approximately USD 22.8 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period from 2024 to 2032.
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Lithographic printing, commonly known as offset printing, remains a dominant method in the printing industry due to its efficiency and cost-effectiveness in high-volume applications. The process relies on various chemicals, including inks, fountain solutions, and cleaning agents, to maintain print quality and operational efficiency.
Growing Demand in Print Media: Despite the digital shift, there is sustained demand for printed materials, especially in emerging economies where print media continues to play a crucial role.
Expansion of Packaging Industry: The rise in consumer goods consumption has led to increased demand for high-quality printed packaging, driving the need for advanced lithographic printing chemicals.
Technological Advancements: Innovations in printing technology have led to the development of more efficient and environmentally friendly lithographic chemicals, enhancing print quality and reducing waste.
By Product Type:
Inks: This segment is anticipated to capture USD 16.1 billion by 2032, demonstrating a 4.4% CAGR
Fountain Solutions
Cleaning Solutions
Others: Including gumming solutions, photographic chemicals, ancillary products, and plate coatings.
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By Application:
Publication: Held a 41.1% market share in 2023, amounting to USD 6.7 billion, and is projected to grow at a 4.6% CAGR.
Packaging
Promotion
Others: Such as stationery items and books.
Asia-Pacific: Dominates the market due to the high growth of the print media industry and increasing production of packaging materials using offset technology.
North America: Expected to achieve USD 1.1 billion by 2032, with a CAGR of 2.8%.
The market is fairly fragmented, with key players including:
T&K TOKA Corporation
Flint Group
DIC Corporation
Siegwerk Druckfarben AG & Co. KGaA
Wikoff Color Corporation
Sakata Inx Corporation
Tokyo Printing Ink Mfg Co. Ltd.
Dainichiseika Color & Chemicals Mfg. Co. Ltd.
SICPA Holding SA
FUJIFILM Holdings America Corporation
These companies are focusing on product innovation and strategic partnerships to strengthen their market position.
The market faces challenges such as environmental regulations pushing for eco-friendly chemical formulations and the rising adoption of digital printing technologies. However, opportunities lie in developing sustainable and biodegradable chemicals, as well as expanding into emerging markets with growing print media and packaging industries.