Mexico Ink Market Report and Forecast 2024-2032

Mexico Ink Market Outlook

The Mexico ink market size is projected to grow at a CAGR of 2.20% in the forecast period of 2024-2032. The market growth is being driven by growing applications in label and packaging and expansion of local manufacturing capacities.

Key Trends in the Market

Ink is a coloured fluid, gel, or paste that is used for writing, printing, duplicating, and drawing, by marking it against a material or substrate, either manually or through a printing machine. Available in a variety of colours and types, inks comprise of a colloidal suspension of dye particles or pigments in a liquid such as oil, water, or solvent.

• Rising demand for flexographic printing is a key trend contributing to the Mexico ink market growth due to its versatility and ability to print on nearly any type of material. Moreover, flexographic technology supports high-quality output and cost-effectiveness, thereby increasing the demand for the ink market.

• Innovations in ink and printing technologies are also likely to provide impetus to the ink market growth in Mexico over the coming years. New inks such as UV-curable inks, eco-friendly inks, security inks, and high performance inks are witnessing a rising demand for various speciality applications.

• Mexico is a significant importer of ink at a global level, however, various market players are investing towards expanding local production capacities to meet the growing Mexico ink market demand. Local manufacturing plants for inks would support various applications, reduce costs for end-users, and facilitate innovation.

Market Analysis

Based on technology, the market is divided into lithographic, flexographic, gravure, digital, and letterpress, among others. On the basis of type, the Mexico ink market segmentation is oil based, solvent based, and water based. By application, the market is classified into label and packaging, commercial printing, and publications, among others. Based on city, the market is categorised into Guadalajara, Mexico City, and Monterrey, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Mexico ink market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Toyo Ink Co., Ltd.

• Sanchez, S.A. de C.V.

• Flint Group

• DIC Corporation

• Siegwerk Mexico S.A. de C.V

• Kao Collins Corporation

• Huber Group

• Tokyo Printing Ink Mfg.Co.,Ltd

• Others

Market Share by Type

Solvent based inks are widely used due to their durability and high performance characteristics, occupying a sizable share of the Mexico ink market. These inks are resistant to fading, scratches, and water, and can withstand various environmental conditions, leading to widespread adoption across applications. Solvent based inks have high opacity, which supports more vibrant and dark colours that are in demand for accurate printing. The costs of solvent based inks is also relatively low because of less expensive raw materials and reduced processing needs, thereby increasing their appeal for bulk printing applications. However, water based inks are projected to witness growth in demand in the coming years, supported by their environmental-friendliness, and increasing focus on sustainability.

Market Share by Application

Label and packaging applications account for a healthy portion of the Mexico ink market share, driven by the growing packaging industry and rising demand for effective printing on labels and packaging. With rising disposable incomes and increasing sales of a wide variety of packaged products, including foods, beverages, personal care products, and household items, printed packaging is surging in demand. Specialised inks are used for packaging to create labels and packaging descriptions that describe the product, include instructions, and aid in branding. Amidst increasing competition between companies, there is a greater focus on utilising packaging and labels for brand distinction, leading to more companies investing in high quality inks for vibrant branding.

Competitive Landscape

Toyo Ink Co., Ltd., founded in 1896, specialises in the manufacturing and sales of printing inks used for packaging, printing, and information-related materials. Based in Tokyo, Japan, the product portfolio of the company includes offset inks, gravure and flexo inks, functional ink products, and metal decorating inks.

Sanchez, S.A. de C.V. is a leading company for printing materials and inks, providing solutions to the paints and coatings and graphics industries. Established in 1936 and headquartered in Mexico City, Mexico, the company offers gravure, containers, flexography, serigraphy, offset, pad printing, adhesives, and coatings, among others.

Flint Group, established in 2005 with headquarters in Luxembourg, Luxembourg, is a versatile provider of printing solutions, formulating products that are environmentally friendly and innovative. Divisions of the company include packaging inks, narrow web, digital solutions, offset packaging solutions, commercial publications, and commercial, publication and sheetfed inks.

Other market players include DIC Corporation, Siegwerk Mexico S.A. de C.V, Kao Collins Corporation, Huber Group, and Tokyo Printing Ink Mfg.Co.,Ltd, among others.

Key Highlights of the Report