Printing Inks

US printing ink demand will reach $4.8 billion in 2013, supported by shifts toward more environmentally friendly ink formulations and digital inks. Among raw materials, additives and colorants will benefit from demand for better performing printing inks with brighter colors. Packaging will remain the largest and fastest-growing market.

This study analyzes the two billion pound US printing ink industry. It presents historical demand data for the years 1998, 2003 and 2008, and forecasts for 2013 and 2018 by raw material (e.g., vehicles, colorants, additives), ink type (e.g., lithographic, flexographic, gravure, digital, letterpress) and market (e.g., packaging, commercial printing, publication).

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 43 industry players, including Sun Chemical, Flint Group and INX International.

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TABLE OF CONTENTS SECTION PAGE INTRODUCTION x I. EXECUTIVE SUMMARY 1 II. MARKET ENVIRONMENT 4 General 4 Macroeconomic Overview 4 Consumer Spending 9 Manufacturing Outlook 11 Retail Sales 14 Printing & Publishing Overview 16 Packaging Overview 18 Packaging Shipments 19 Packaging Materials 20 Pricing & Product Mix 23 Historical Market Trends 25 Printing Process Overview 27 Lithography 29 Flexography 30 Gravure 31 Letterpress 32 Digital 32 Other 33 Technology 34 Environmental & Regulatory Considerations 36 Alternative Inks 37 Ink Recycling & Deinking Issues 39 International Activity 40 Foreign Trade 41 III. RAW MATERIALS 44 General 44 Printing Ink Vehicles 47 Resins 48 Synthetic Resins 50 Natural Resins 52 Oils 53 Solvents 56 Colorants 58 Carbon Black 60 Other Pigments & Dyes 61 Additives 64 Waxes 66 Surfactants 68 Other Additives 69 IV. PRODUCTS 72 General 72 Lithographic Inks 75 Product Types & Formulations 77 Web Offset Inks 79 Sheetfed Offset Inks 81 Markets 83 Flexographic Inks 84 Formulations 86 Markets 88 Gravure Inks 90 Formulations 92 Markets 94 Digital Inks 96 Formulations 98 Markets 101 Letterpress Inks 103 Product Types & Formulations 105 Markets 106 Other Printing Inks 107 Product Types & Formulations 110 Screen & Textile Inks 111 All Other Inks 113 Markets 114 V. MARKETS 117 General 117 Packaging 119 Rigid Containers 122 Rigid Container Industry Overview 122 Printing Ink Demand 124 Paperboard Containers 126 Corrugated Boxes 128 Rigid Plastic Containers 129 Metal Cans 131 Glass & Other Containers 132 Flexible Packaging 133 Flexible Packaging Industry Overview 134 Printing Ink Demand 137 Food Packaging 139 Non-Food Packaging 141 Labels 142 Label Industry Overview 143 Printing Ink Demand 144 Retail Bags & Sacks 146 Retail Bag & Sack Industry Overview 146 Printing Ink Demand 148 Product Types 149 Product Formulations 152 Commercial Printing 153 Commercial Printing Industry Overview 154 Printing Ink Demand 156 Applications 157 Product Types & Formulations 158 Publication 160 Periodicals 162 Periodicals Industry Overview 162 Printing Ink Demand 164 Newspapers 165 Newspaper Industry Overview 165 Printing Ink Demand 167 Books 169 Book Industry Overview 169 Printing Ink Demand 170 Other Publication Markets 172 Product Types & Formulations 173 Other Markets 174 VI. INDUSTRY STRUCTURE 177 General 177 Market Share 178 Competitive Strategies 181 Research & Development 183 Manufacturing 184 Marketing Strategies 186 Distribution 188 Company Profiles 189 Air Products and Chemicals Incorporated 190 Akzo Nobel NV 192 American Inks & Coatings Incorporated 193 Apollo Colors Incorporated 194 Arizona Chemical Company 196 BASF SE 198 Braden Sutphin Ink Company 200 Cabot Corporation 202 Cargill Incorporated 205 Central Ink Corporation 206 Ciba Specialty Chemicals Holding Incorporated 207 Clariant International Limited 210 Cognis Deutschland GmbH & Company KG 212 Cook Composites and Polymers Company, see Total SA DIC Corporation 214 Dow Chemical Company 218 Dow Corning Corporation 220 DuPont (EI) de Nemours 221 Eastman Chemical Company 223 EFI Incorporated 225 Exxon Mobil Corporation 226 Flint Group 227 Fujifilm Holdings Corporation 230 Graphic Packaging Holding Corporation 232 Handschy Industries, see Graphic Packaging Hexion Specialty Chemicals Incorporated 234 Huber Group 236 Ink Systems Incorporated 238 INX International Ink, see Sakata INX Lubrizol Corporation 239 LyondellBasell Industries AF SCA 240 MeadWestvaco Corporation 242 Nazdar 243 Quad/Graphics Incorporated 244 Rohm and Haas Company 245 Sakata INX Corporation 247 Sartomer Company, see Total SA Sensient Technologies Corporation 249 SICPA Holding SA 250 Siegwerk Druckfarben AG 251 Silberline Manufacturing Company Incorporated 252 Sun Chemical, see DIC Corporation Superior Printing Ink Company Incorporated 253 3M Company 254 Total SA 256 Toyo Ink Manufacturing Company Limited 258 Van Son Holland Ink Corporation of America 260 Wikoff Color Corporation 262 Other Companies Mentioned in the Study 263 LIST OF TABLES TABLE NUMBER PAGE SECTION I -- EXECUTIVE SUMMARY Summary Table 3 SECTION II -- MARKET ENVIRONMENT 1 Macroeconomic Indicators 9 2 Personal Consumption Expenditures 11 3 Manufacturers' Shipments 14 4 Retail Sales 16 5 Printing & Publishing Shipments 18 6 Packaging Shipments by Type 20 7 Packaging Shipments by Material 23 8 Printing Ink Pricing 25 9 Printing Ink Market, 1998-2008 26 10 US Foreign Trade in Printing Inks 43 SECTION III -- RAW MATERIALS 1 Printing Ink Raw Material Consumption 46 2 Vehicle Consumption in Printing Inks 48 3 Resin Consumption in Printing Inks 50 4 Process Oil Consumption in Printing Inks 56 5 Solvent Consumption in Printing Inks 58 6 Colorant Consumption in Printing Inks 59 7 Carbon Black in Printing Inks 61 8 Other Pigments & Dyes in Printing Inks 64 9 Additive Consumption in Printing Inks 66 10 Wax Consumption in Printing Inks 67 11 Surfactant Consumption in Printing Inks 69 12 Other Additives Consumption in Printing Inks 71 SECTION IV -- PRODUCTS 1 Printing Ink Demand by Type & Formulation 74 2 Lithographic Ink Supply & Demand 77 3 Lithographic Ink Demand by Type & Formulation 79 4 Web Offset Ink Demand 81 5 Sheetfed Offset Ink Demand 82 6 Lithographic Ink Markets 84 7 Flexographic Ink Supply & Demand 86 8 Flexographic Ink Demand by Formulation 88 9 Flexographic Ink Markets 90 10 Gravure Ink Supply & Demand 92 11 Gravure Ink Demand by Formulation 94 12 Gravure Ink Markets 96 13 Digital Ink Supply & Demand 98 14 Digital Ink Demand by Formulation 101 15 Digital Ink Markets 103 16 Letterpress Ink Supply & Demand 104 17 Letterpress Ink Demand by Type & Formulation 106 18 Letterpress Ink Markets 107 19 Other Printing Ink Supply & Demand 109 20 Other Printing Ink Demand by Type & Formulation 111 SECTION V -- MARKETS 1 Printing Ink Demand by Market 118 2 Packaging Market for Printing Inks 121 3 Rigid Container Shipments 124 4 Rigid Container Market for Printing Inks 126 5 Paperboard Container Market for Printing Inks 128 6 Corrugated Box Market for Printing Inks 129 7 Rigid Plastic Container Market for Printing Inks 130 8 Metal Can Market for Printing Inks 132 9 Glass & Other Container Market for Printing Inks 133 10 Flexible Packaging Demand 137 11 Flexible Packaging Market for Printing Inks 138 12 Flexible Food Packaging Market for Printing Inks 141 13 Flexible Non-Food Packaging Market for Printing Inks 142 14 Label Demand 144 15 Label Market for Printing Inks 146 16 Retail Bag & Sack Shipments 148 17 Retail Bag & Sack Market for Printing Inks 149 18 Packaging Ink Demand by Type 152 19 Packaging Ink Demand by Formulation 153 20 Commercial Printing Shipments by Process & Product 155 21 Commercial Printing Market for Printing Inks 157 22 Commercial Printing Ink Demand by Type & Formulation 160 23 Publication Market for Printing Inks 162 24 Periodicals Indicators 163 25 Periodicals Market for Printing Inks 165 26 Newspaper Indicators 166 27 Newspaper Market for Printing Inks 168 28 Book Indicators 170 29 Book Market for Printing Inks 171 30 Other Publication Markets for Printing Inks 172 31 Publication Printing Ink Demand by Type & Formulation 174 32 Other Markets for Printing Inks 176 SECTION VI -- INDUSTRY STRUCTURE 1 Printing Ink Sales by Company, 2008 180 LIST OF CHARTS CHART NUMBER PAGE SECTION II -- MARKET ENVIRONMENT 1 Printing Ink Market, 1998-2008 27 2 World Printing Ink Market, 2008 41 SECTION III -- RAW MATERIALS 1 Printing Ink Raw Material Consumption by Type, 2008 46 SECTION IV -- PRODUCTS 1 Printing Ink Demand by Type, 2008 75 SECTION V -- MARKETS 1 Printing Ink Demand by Market, 2008 119 SECTION VI -- INDUSTRY STRUCTURE 1 US Printing Ink Market Share by Company, 2008 181

Printing Inks

Purchase Printing Inks by the Section

Printing Inks

1 INTRODUCTION

2 EXECUTIVE SUMMARY

Table | PRINTING INK SUPPLY & DEMAND (million dollars)

3 MARKET ENVIRONMENT

3.1 General

3.2 Macroeconomic Overview

Table | MACROECONOMIC INDICATORS (billion 2000 dollars)

3.3 Consumer Spending

Table | PERSONAL CONSUMPTION EXPENDITURES (billion dollars)

3.4 Manufacturing Outlook

Table | MANUFACTURERS' SHIPMENTS

3.5 Retail Sales

Table | RETAIL SALES (billion dollars)

3.6 Printing & Publishing Overview

Table | PRINTING & PUBLISHING SHIPMENTS (billion dollars)

3.7 Packaging Overview

3.7.1 Packaging Shipments

Table | PACKAGING SHIPMENTS BY TYPE (billion dollars)

3.7.2 Packaging Materials

Table | PACKAGING SHIPMENTS BY MATERIAL (million dollars)

3.8 Pricing & Product Mix

Table | PRINTING INK PRICING (dollars per pound)

3.9 Historical Market Trends

Table | PRINTING INK MARKET, 1998-2008

3.10 Printing Process Overview

3.10.1 Lithography

3.10.2 Flexography

3.10.3 Gravure

3.10.4 Letterpress

3.10.5 Digital

3.10.6 Other

3.11 Technology

3.12 Environmental & Regulatory Considerations

3.12.1 Alternative Inks

3.12.2 Ink Recycling & Deinking Issues

3.13 International Activity

3.14 Foreign Trade

Table | US FOREIGN TRADE IN PRINTING INKS (million dollars)

4 RAW MATERIALS

4.1 General

Table | PRINTING INK RAW MATERIAL CONSUMPTION (million pounds)

4.2 Printing Ink Vehicles

Table | VEHICLE CONSUMPTION IN PRINTING INKS (million pounds)

4.2.1 Resins

Table | RESIN CONSUMPTION IN PRINTING INKS (million pounds)

4.2.2 Oils

Table | PROCESS OIL CONSUMPTION IN PRINTING INKS (million pounds)

4.2.3 Solvents

Table | SOLVENT CONSUMPTION IN PRINTING INKS (million pounds)

4.3 Colorants

Table | COLORANT CONSUMPTION IN PRINTING INKS (million pounds)

4.3.1 Carbon Black

Table | CARBON BLACK IN PRINTING INKS (million pounds)

4.3.2 Other Pigments & Dyes

Table | OTHER PIGMENTS & DYES IN PRINTING INKS (million pounds)

4.4 Additives

Table | ADDITIVE CONSUMPTION IN PRINTING INKS (million pounds)

4.4.1 Waxes

Table | WAX CONSUMPTION IN PRINTING INKS (million pounds)

4.4.2 Surfactants

Table | SURFACTANT CONSUMPTION IN PRINTING INKS (million pounds)

4.4.3 Other Additives

Table | OTHER ADDITIVES CONSUMPTION IN PRINTING INKS (million pounds)

5 PRODUCTS

5.1 General

Table | PRINTING INK DEMAND BY TYPE & FORMULATION (million dollars)

5.2 Lithographic Inks

Table | LITHOGRAPHIC INK SUPPLY & DEMAND (million dollars)

5.2.1 Product Types & Formulations

Table | LITHOGRAPHIC INK DEMAND BY TYPE & FORMULATION (million dollars)

Table | WEB OFFSET INK DEMAND (million dollars)

Table | SHEETFED OFFSET INK DEMAND (million dollars)

5.2.2 Markets

Table | LITHOGRAPHIC INK MARKETS (million dollars)

5.3 Flexographic Inks

Table | FLEXOGRAPHIC INK SUPPLY & DEMAND (million dollars)

5.3.1 Formulations