The Indian Inks Industry


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The Indian Inks Industry

  1. 1. December 09 By Mayuresh Kelkar
  2. 2. <ul><li>Inks can be classified into two broad categories: </li></ul>
  3. 3. <ul><li>Web offset printing refers to the use of rolls of paper supplied to the printing press. </li></ul><ul><li>Most commonly used in mass publications such as newspapers/magazines/ books/catalogues. </li></ul><ul><li>Web offset inks </li></ul>Heatset inks Non-heatset inks
  4. 4. <ul><li>Quickset inks: These contain a special varnish enabling it to dry quickly. It doesn’t require exposure to heat. </li></ul><ul><li>Sheet-fed inks: </li></ul><ul><li>Rubber based inks </li></ul><ul><li>Soy-bean based inks (specifically developed to replace petroleum based inks) </li></ul>
  5. 5. <ul><li>Water based inks: Mainly used for flexographic printing. </li></ul><ul><li>Ultra-violate inks (UV inks) </li></ul><ul><li>Laser Ink: Laser ink is specially formulated to withstand the extreme heat of the laser printer. If conventional ink is used for the pre-printed portion of a document (such as an invoice or statement), the ink will melt in a laser printer because of the excessive heat produced by the laser printer. </li></ul>
  6. 6. <ul><li>Non-porous inks: used on printing on metal or plastic (non-absorbent substrates). </li></ul><ul><li>Metallic inks: provides a distinctive look to a variety of print applications. The ink is produced by blending different types of metallic powders into the ink mixture, such as aluminium powder to create a silver appearance and bronze powder to create a gold appearance. </li></ul>
  7. 7. <ul><li>Micro Inks </li></ul><ul><li>DIC India Limited </li></ul><ul><li>Sakata Limited </li></ul><ul><li>Toyo Ink Private Limited </li></ul><ul><li>Siegwerk India Private Limited </li></ul><ul><li>Tirupati Inks </li></ul><ul><li>Flint Group India </li></ul>
  8. 8. <ul><li>For us, the web offset inks markets looks more feasible than the specialty inks market. </li></ul><ul><li>This is primarily because of huge volumes </li></ul><ul><li>The estimated size of the Indian ink industry in terms of volume is ~150k tonnes per annum </li></ul><ul><li>The estimated size of this industry in terms of value stands at ~Rs. 15 bn. </li></ul><ul><li>The CAGR of this industry over the last years was between 10%-12%, suggesting a mark-up over the economic growth rate average of 8% </li></ul>
  9. 9. <ul><li>The GOI expects GDP growth in the next fiscal year to be around 8% to 8.5%. </li></ul><ul><li>Keeping historical trends in mind, the Indian ink industry may grow well above 10% going forward. </li></ul><ul><li>The governments intention to extend FDI limits in the printing industry from the current 26% to 49% will hugely benefit the ink industry. </li></ul>
  10. 10. <ul><li>Subsidiary of the Huber Group </li></ul><ul><li>Local producer and exporter (exports 62% of its total prod) </li></ul><ul><li><30% market share in India (<40% share in the organized sector) </li></ul><ul><li>Products include: </li></ul><ul><li>Offset inks </li></ul><ul><li>Flexo and gravure inks </li></ul><ul><li>Screen inks </li></ul><ul><li>Metal decorating inks and coatings </li></ul><ul><li>Lamination adhesives </li></ul><ul><li>Has centralized production facilities near Vapi, Gujarat. </li></ul><ul><li>A significant customer base comprising of large printing and packaging companies like RR Donnelly & Sons, Quebecor, Times of India etc. </li></ul><ul><li>Current packing in octagonal corrugated boxes </li></ul>
  11. 11. <ul><li>Subsidiary of Dainippon Inks and Chemicals (DIC), Japan. </li></ul><ul><li>Local producer and exporter. </li></ul><ul><li>40% market share globally. </li></ul><ul><li>~23% market share in India </li></ul><ul><li>Operates with three segments, namely publishing inks, packaging inks and commercial printing inks. </li></ul><ul><li>Plants located at Kolkata, Mumbai, New Delhi, Noida, Ahmedabad, Chennai and Bangalore. </li></ul>
  12. 12. <ul><li>Production unit in Bhiwadi, Rajasthan. </li></ul><ul><li>Has a 6% market share in India. </li></ul><ul><li>With a production capacity of ~20 tons per day </li></ul><ul><li>Its largest plant is located at Panoli, Gujarat with a production capacity of 15000 MT per annum </li></ul><ul><li>Out of this 50% is scheduled to be exported from 2010 onwards. </li></ul><ul><li>In early 2010, Sakata Inx (India) Pvt Ltd plans to launch soy based inks in a big way to cater to newspapers and other offset printing activities. </li></ul>
  13. 13. <ul><li>Major products are Heatset/coldset web, sheetfed and waterless; news offset; solvent- and water-based flexo and gravure </li></ul><ul><li>Not a big presence in India. Just a JV with Technova Imaging Systems Pvt Ltd. (Technova’s plant is located at MIDC Taloja, manu. Offset plates and printing films) </li></ul>
  14. 14. <ul><li>Main production site in Bhiwadi, Rajasthan </li></ul><ul><li>Mainly caters to the sheet-fed inks segment in the Indian market </li></ul><ul><li>Established a presence into India following the acquision of PIBU Ink India and Sicpa Packaging. </li></ul>
  15. 15. <ul><li>Manufactures Offset inks, Flexo inks, water based inks and screen printing inks. </li></ul><ul><li>Unit in Kanpur, UP </li></ul><ul><li>Standard packing size is 22 kg. for colours & 25 kg for white. </li></ul>
  16. 16. <ul><li>Produce all types of inks. </li></ul><ul><li>Production plant located in Bangalore </li></ul><ul><li>Type of packing: Barrel pack, drums and cans. </li></ul>
  17. 17. <ul><li>All India Printing Ink Manufacturers of India </li></ul><ul><li>Company annual reports and presentations </li></ul><ul><li>Research reports on listed companies </li></ul><ul><li>Dept. of chemical and petrochemicals, GOI. </li></ul><ul><li>Centre for Monitoring Indian Economy (CMIE) </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li>Newspapers ( ET, BS, The Hindu) </li></ul><ul><li>Bloomberg </li></ul><ul><li>Goodpack presentation </li></ul>