For Submission of Internal Assessment Cmat 1 ST Year

“ PRINTING INK INDUSTRY ”

Managerial Decision Making

Submitted To Submitted By
Shri Nishant Gehlot. Miss Lavina Gurbani.
Assistant Professor. MBA CMAT 1St Year.
Department Of Management Studies. Department Of Management
Studies.
 ACKNOWLEDGEMENT

It is my proud privilege to release the feelings of my gratitude to several persons who helped me
directly or indirectly to conduct this Assessment report work.I express my heart full indebtness
and owe a deep sense of gratitude to my Teacher Mr. Nishant Gehlot. Department of
Management Studies, Jodhpur.For giving me an opportunity to work on this report.

I also thank all my Friends who have more or less contributed to the preparation of this Project
report. I will always be indebted to them.
The study has indeed helped me to explore more knowledgeable avenues related to my topic and
I am sure it will help me in my future.

Lavina Gurbani

CMAT 1ST Year

Department of Management Studies.

 EXECUTIVE SUMMARY

This project profile deals with print ink manufacturing and management process. The following
presents the main findings of the study

Demand projection divulges that the domestic demand for printing ink is substantial and is
increasing with time. Accordingly, the planned plant is set to produce 90 ton annually. The total
investment cost of the project including working capital is estimated at Birr 2.76 million and
creates 25 job opportunity and 267.84 Birr of income

The financial result indicates that the project will generate profit beginning from the first year of
operation. Moreover, the project will break even at 19.5% of capacity utilization and it will
payback fully the initial investment less working capital in 2 years. The result further show that
the calculated IRR of the project is 35.7% with NPV discounted at 18% of Birr 1,643,461.25

In addition to this, the proposed project possesses wide range of economic and social benefits
such as increasing the level of investment, tax revenue, employment creation and import
substitution

Generally’ the project is technically feasible, financially and commercially viable as well as
socially and economically acceptable.
 INTRODUCTION :-PRINTING INK

Although many people associate ink with pens and printers, there are many other kinds. From a
cake with your face on it to a temporary tattoo your child got at a birthday party, different inks
were used to create those images. Whether you use erasable, glow-in-the-dark, or invisible ink,
you can find it everywhere and on everything!

What are the different types of inks? How is ink made? Take a look at the vibrant world
of ink!

The manufacturing of Printing ink enjoys an important place in chemical industry. With
the growing demand of a wide spectrum of Printing inks and with the advancement of
Printing ink processes, the industry offer entrepreneurs the opportunity for career
development.

A. A BRIEF HISTORY OF INK

Ink can be traced back as far as 40,000 years ago! In fact, ink has been around since the
dawn of communication with cave paintings being the first documented use of ink in
 history. Originally, ink was made from different combinations of animal fats, fruit or
vegetable juices, and plants. Now, most are made synthetically in factories with pigments
or dyes.

B. WHAT IS THE FORMULA USED IN INK?

Ink formulas are made using a base like water that’s needed to absorb dyes or pigments
and other chemicals that aide in the drying time, texture, and preservation of the ink.
To keep track of it all, check out this family tree:
C. GLOSSARY OF INK TERMS
Ink has a lot of confusing ingredients, but it doesn’t have to be that way! To break down
ink formulas even more, we’ve come up with a list of the most common ink terms and
definitions so that you know an additive from wax and everything in between.
 Additive - A substance added to ink to prevent ink from drying out or separating
overtime. Other inks, like edible ink will have additives to prevent spoiling.
 Colorant - A dye or pigment added to a material, such as ink, to give it colour.
 Drying Agent - A chemical used to ensure ink dries once it meets a surface, like paper.
 Dye - A type of colorant that dissolves completely in a liquid without additional help.
 Insoluble - The inability to dissolve completely in a substance, such as water.
 Linseed Oil - A colourless to yellowish oil extracted from dried, ripened seeds of the flax
plant. Also known as flaxseed oil.
 Pigment - A type of colorant that’s unable to dissolve without the help of a vehicle.
 Soluble - The term used to describe a substance that’s dissolved completely within a
liquid.
 Solvent - The liquid to which the colorant is added.
 Soybean Oil - A common vegetable oil extracted from the seeds of the soybean plant.
 Vehicle - The binding agent added to pigment allowing it to dissolve within a solvent.
 Wax - A substance added to ink to increase rub-resistance, so the ink doesn’t rub off of
its surface.
While there’s a bunch of ingredients that make up ink, the colorants are what gives it
such beautiful colors! Without dyes and pigments, everything would be completely
colorless. The other ingredients are just an added bonus to make sure the ink works in tip-
top shape!

D. PRODUCT & ITS APPLICATION:

Printing ink is a recipe-oriented product having three basic materials as essential inputs.
 Pigments - for colouring of ink.
 Vehicles - to transport the pigment to the plate of Printing ink machine.
 Binders and extenders and plasticizers
are used to produce Printing ink of specific uses.
 Printing ink is divided into three main classes:
 Typographic Printing ink.
 Plano graphic Printing ink.
 Intaglio Printing ink.

Printing ink is available in two forms:

 Paste form like letter press, offset, screen Printing ink, etc.
 Liquid ink like flexographic, gravure, rotary newsprint etc.

What’s the Difference Between Dyes and Pigments?

The biggest difference between dyes and pigments are how they react when applied to a base.
For example, dyes dissolve completely in liquid and change the chemical structure of its solvent,
while pigments are unable to dissolve without the help of a vehicle. Solvents are liquids like
water, oil, alcohol, or milk, and have the ability to dissolve other substances.

 Dyes Pigments

•Soluble •Insoluble

•Changes the chemistry of the ink •Particles will be present in the ink

•Brighter colors •Light-resistant

•More likely to fade with light exposure •Needs a vehicle

•Can be synthetic or natural •Highly durable

•Uncolored material soaks in the dye solution •Applied to a surface

•Mostly used in inks, food additives, and •Mostly used in inks, paints, plastic, and
textiles rubber

E. INK TYPES
Nearly all types of ink can be placed into one of two main categories:
  Standard Printing inks: web offset ink (heatset and non-heatset), sheet-fed ink,
soybean based ink, process ink for colorPrinting ink, and others.
 Specialty Inks: metallic, fluorescent, security, phosphorescent, and others.

F. STANDARD INK TYPES

 Web Offset Non-Heatset Ink

The non-heatset variety of web offset Printing ink is a common type of ink used
on web presses for newspaper and business forms Printing ink. Non-Heatset ink is
printed on absorbent, uncoated paper stock. Coated stocks should not be used with
this type of ink because the paper will not completely absorb the ink, resulting in
excess smudging and smearing.

 Web Offset Heatset Ink

The heatset variety of web offset ink contains special varnishes that help the ink
dry when heat is applied. Heatset presses are equipped with drier units for this
purpose. Due to the varnishes, the ink printed on the paper is highly flammable,
so the drying units must be specially built and properly maintained to avoid
potential hazards. The main advantage of heatset ink is a printed product with a
higher degree of quality.

 Quickset Ink
Quickset ink contains a special varnish to speed the drying process. Unlike heatset
ink, quickset ink does not require a heat source for proper drying and curing. The
ink will not dry out on the press, but will dry quickly after it has been printed onto
the substrate.
The are four basic processes that allows quickset ink to dry depending on the
formulation: evaporation, absorption, oxidation, and polymerization. Newer types
of quickset ink have a greater proportion of antioxidants and higher boiling-point
distillates, which evaporate more slowly, so the absorption process plays a greater
role with the newer inks. All four processes share equally in the ink curing
process with older ink types.
Uncoated paper stocks are best suited for quickset ink. This is because the low
viscosity distillates and antioxidants are quickly absorbed by the substrate, which
leaves the remaining pigment and vehicle to dry quickly on the surface.

 Sheet-fed Ink
Sheet-fed ink is manufactured specifically for sheet-fed presses and usually has a
higher tack than web offset inks. The reason for this is that most sheet-fed presses
 run at slower speeds than web presses and a higher tack is necessary to provide
the necessary quality.

 Rubber-base Ink
Ink formulated with a rubber base is a good choice when flexibility in the Printing
ink process is important. Rubber-base ink can be printed on coated and uncoated
paper and it dries quickly. It is most often used on small sheet-fed presses.

 Soybean-base Ink
Soybean-base ink is becoming a popular alternative to petroleum-base ink
because of the ease in which it is used and because it is environmentally friendly.
Soy-base ink prints and handles similar to petroleum-base ink, but it is much less
toxic because of the soybean oil. The soybean ink is biodegradable, meaning that
it is eventually broken down and is much less hazardous to the environment.
Some soy inks may contain petroleum additives, so if a client requires 100% soy-
based ink for a print application, it is important to be fully informed on the type of
soy ink that is used.

 Water-base Ink
Water-base ink has been around for awhile, but it is still not as popular as other
ink types. The usage of water-base ink may increase as environmental laws get
tougher on the acceptable VOC (Volatile Organic Compounds) emissions
generated from petroleum-base ink. Water-base ink emits no VOC's. It is safe to
work with and the print quality is comparable to other ink types. Water-base ink is
used mainly in flexography and gravure Printing ink. It is a good choice for
printers and customers who want their projects manufactured with nontoxic
materials.

 Laser Ink
Laser ink is specially formulated to withstand the extreme heat of the laser printer.
If conventional ink is used for the preprinted 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. This results in damage to the preprinted
document and possible damage to the laser printer because of ink adhering to the
internal parts of the printer.

 UV (Ultraviolet) Ink
Ultraviolet ink is formulated to cure and dry when exposed to a UV light source,
unlike conventional ink, which dries through evaporation and absorption. Instead
of being absorbed into the paper, the UV ink remains on the surface until it is
 exposed to the UV rays, which instantaneously transforms the ink into a hard
film. UV ink can be applied to many types of
substrates including paper, metal, vinyl, and glass.

 Process Ink Colors

Process ink colors are used in Four Color Process Printing ink. Cyan, magenta,
yellow, and black (CMYK) are the colors necessary for this process and are
formulated differently for different types of Printing ink processes.

 High-Fidelity Ink Colors

High-fidelity ink colors are use in an advanced form of colorPrinting ink,
combining the standard four process colors of cyan, magenta, yellow, and black,
with two more colors - usually orange and green. This allows for a greater color
range, increased subtlety in the gradations of color, and additional vibrancy.

G. SPECIALTY INK TYPES

 Non-porous Ink
Non-porous ink is used
for Printing ink on
substrates, such as metal
or plastic, that do not
allow ink to be absorbed
into the material.
Because the Printing ink
surface of these materials is nonabsorbent, the ink dries solely through oxidation
rather than absorption.

 Metallic Ink
Metallic ink 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 aluminum powder to create a silver appearance and bronze powder to
create a gold appearance. Some metallic inks can nearly duplicate the look of foil
on some applications without the need to purchase the additional equipment
required for foil stamping.
Metallic ink is more challenging for the press operator to control than
conventional ink. One reason for this is that the metallic powder blended into the
ink mixture cannot be ground as fine as other pigments because the metallic ink
will lose its luster. The larger particles create problems on the press, especially
 with the offset lithography process. To overcome some of the special print
problems, some printers do a double hit (running the piece through the press a
second time to apply another coat of ink to strengthen the coverage).
Most printers require an upcharge for the use of metallic ink on an application
because the ink is more expensive to produce and makes the print job more time
consuming. Metallic ink tends to have a much shorter shelf life than standard ink.

 Magnetic Ink
Magnetic ink is comprised of a petroleum-base ink blended with magnetic iron
oxide particles. The magnetic iron oxide particles allow documents printed with
this type of ink to be read and sorted by electronic scanning equipment. Checks
are an example of a document printed with magnetic ink. The MICR (Magnetic
Ink Character Recognition) number at the bottom of the check is the only portion
of the check printed with the magnetic ink. The remaining copy on the check is
printed with standard ink to ensure that no other printed area on the check
interferes with the ability of the scanner to read the magnetic MICR number.

 Fluorescent Ink
Fluorescent is another type of ink that can provide a distinctive look for a variety
of print applications. Fluorescent ink colors are most often printed on labels,
posters, and signs that are used for alerting people to hazards or attracting their
attention to advertising pieces.
There are several points to consider when using fluorescent colors. The ink tends
to fade quickly, so they should be kept out of direct sunlight. Because of their
tendency to fade, fluorescent inks have a short shelf life. Another point to
consider is that fluorescent ink is very transparent, so it may require a double hit
(a second run through the press) in order to achieve the desired results. In spite of
this potential problem, fluorescent ink is a good choice for creating emphasis and
increased visibility.

 Phosphorescent Ink
Applications printed with phosphorescent inks acquire a "glow in the dark"
property after the phosphorescent area has been exposed to light. The length of
time that an application will glow in the dark depends upon the ink ingredients
and the length of time that the application is exposed to light. In some cases, a 10-
30 minute exposure to light can yield an afterglow of up to 12 hours. The
ingredients of phosphorescent ink are nontoxic and are free of radioactive
additives. It is very useful for road signs, sporting goods, exit signs, safety
products, toys, and novelty items.
 Pearlescent Ink
Pearlescent ink is a specialty ink that is used to add highlights and depth to the
printed area of an application. It is able to provide an almost 3-dimensional effect
to some applications.

 Edible Ink
Edible ink is used on print applications that may come into contact with food or
the ink may be part of the food product and therefore it must be made of totally
nontoxic ingredients. An example where edible inks are used would be in the
monogramming found on some confectionery items. Because the inks are used on
food items, they are strictly regulated by the government.

 Scratch and Sniff Ink

Also known as a microencapsulated ink, scratch and sniff ink releases a fragrance
when the microcapsules are broken. The scratch and sniff ink is commonly used
in magazines for perfume advertisements. When the consumer scratches the
surface of the designated area of the ad, the capsules are broken, releasing the
fragrance.

 Medical Device Ink

Ink used for Printing ink on medical devices is made of nontoxic ingredients so
that direct Printing ink on noninvasive surgical and medical disposable items is
possible.

 Moisture Resistant Ink

Moisture resistant ink is most often used for different types of packaging or for
applications that may be used outdoors.

 Security Ink
There are a variety of inks that provide added security features to print
applications. Some security inks allow documents to be created that are tamper
proof, while the use of other types of security inks prevent documents from being
copied. Security inks include the following varieties:
 Coin Reactive
 Bleeding
 Erasable
 Heat Reactive
 Visible Infrared
 Optically Variable
 Pen Reactive
  Penetrating
 Photochromic
 Solvent/Chemical Reactive
 Thermochromic
 Water Fugitive
 UV Invisible Fluorescent

 Desensitizing Ink
Desensitizing ink is a transparent ink that is applied to the face of CF (Coated
Front) and/or CFB (Coated Front and Back) carbonless paper in order to
deactivate the CF coating. The use of desensitizing ink is important when an
application requires that handwritten or imprinted data not be transferred through
the various pages of a carbonless form in specific areas.

 Electronic Ink
Electronic ink can be transformed from bright white to dark and then back to
bright white again with a small electrical charge. The ink consists of plastic
microcapsules that contain both dark dye and white ink chips. The microcapsules
are sandwiched between thin layers of flexible material, which substitutes for
traditional paper. When an electrical charge is applied, some of the white chips
float to the top of some capsules to create a white surface and in other capsules,
the white chips remain at the bottom allowing the dark fluid to remain visible.
Different characters are created by applying the electrical charge under different
combinations of capsules. After the initial electrical charge is applied, no further
charge is required to hold the image in place, (unlike a computer monitor, which
requires a constant stream of energy in order to display an image). The content of
the flexible page can be changed instantly and then be held on the page for as long
as necessary. Although, this technology is still being perfected, it could be a major
advancement in variable imaging and in the reduction of paper usage for some
print applications.

H. MANUFACTURING PROCESS:
Printing ink is manufactured by proper incorporation of dry pigments into the vehicle by
grinding. These two ingredients in suitable proportions are mixed with or without
modifiers, driers, wetting agents, anti-oxidants, etc. Depending upon the types and quality
of the Printing ink in a mixer like dough type mills, triple roll mill, and agitator are used.
For Paste Form Ink the ingredients are mixed well in a mixer like charge pan mixer,
Rotary mixer. After completion of mixing the mixed ingredients is passed through triple
roll mill. 7 to 8 passes are given till required fineness is obtained. For Liquid Ink
formulated with pigments, resin, vehicles and solvent are grounded in a ball mill for 36 -
48 hrs. For low viscosity ink such as newsprint ink, gravure ink etc. Colloid mills are
used. However, after completion of proper mixing and grinding the ink is packed in a
suitable container after proper testing in the laboratory. Quality Control and Standards
Printing inks have to possess all the physical and chemical properties as per Indian
Standard specifications for getting good quality and marketability of the products.
The Bureau of Indian Standards has formulated specifications for different types of
Printing ink as given below:
 Letter press Black book IS 5046 Printing ink
 Printing ink for general IS 2105 purpose
 Halftone IS 7771
 Newsprint ink black IS 8744
 Offset ink black general IS 6830 purpose
The methods of testing of Printing ink have been laid down in the IS 6931:72.

PRINTING INK INDUSTRY

Printing ink
Industry
encompasses
numerous fields
of every
economy.
Printing ink
Industry
generates a wide
range of
products which
require in every
step of our
everyday life.
Starting from
Newspapers,
Magazines, Books, Post Cards to Memo Pads and Business Order Forms each are the
products of Printing ink Industry. Other than the direct contributions, there are many

indirect influences of Printing ink Industry up on the economy. This is because, all the
activities like Binding, Embossing which generate considerable amount of income and
employment are related closely with the Printing ink Industry. Packaging industry and
Advertising Industry in many ways depend on the Printing ink Industry.

 Trend:
Printing ink Industry Trends has been very significant over the years. This trend is
actually the force that is determining the future of Printing ink Industry. The
increasing use of Internet in the publishing world has brought a revolution in the
Printing ink Industry. Remote Distribution of Data and Variable Data Printing ink
has been possible by the use of Internet. The special ability of Internet of
distributing large quantities of data to diverse locations bridged the gaps of
Printing ink Industry. Earlier, almost all Printing ink work was used to be done
 through press. But, in today's world of technological advancement, many Printing
ink work is done from customer's home printer. Internet publications have opened
a new horizon for Printing ink industry. The Publishing Companies are realizing
that it is better to distribute data through Internet in the first step and to print them
in the second step. This is because if they carry out the traditional process of
firstly Printing ink and then distributing then it may generate much more costs.
So, in this context, the biggest challenge faced by the companies which operate
through Printing inkPress is of lowering costs.
 Technology:The pressure of lowering costs has risen more because of the recent
technological advancements which have invented the concept of e-commerce. E-
Commerce has lowered administration costs and the proofing time. To keep pace
with these emerging technologies, the Printing ink Industry has now concentrated
on Digital Printing ink. But this advent of technology in the field of Printing ink is
killing the Cottage Print Industry. According to survey, the number of companies
in the cottage print industry is going to decline sharply within 2010. But as a
whole we can say that Printing ink Industry has already ridden a growth wave
through technological innovations and further growth can come only through new
innovations and high level of productivity.

 Growth:
Printing ink Industry Growth is an outcome of different actions and reactions
which took place in past few decades all over the world. In most of the cases,
growth of any industry is driven by the increase in demand. The Printing ink
Industry is no exception. The Growth of Printing ink Industry has taken place due
to rising demands for printed products. Now if we want to find the reason behind
this increase in demand we will find several factors. Among these, the main
factors are Overall Economic Growth, Population Growth, Increasing Advertising
Expenditures and the Advent of Internet. If we go through detailed analysis, we
will find that there have been some key changes in the Printing ink Industry in the
last two decades. To understand the Printing ink Industry Growth we need to
discuss these changes in details.

 Market Data:
A booming Indian economy, growing need for content and government initiatives
that have opened the sector to foreign investment are factors driving growth in the
print media. With the literate population on the rise, more people in both rural and
urban areas are reading newspapers and magazines. The industry has a potential
to grow still larger as 360 million people in India are do not subscribe to any
publication.
 The National Readership Study 2006 (NRS 2006), conducted annually in India by
the National Readership Studies Council, is the largest survey of its kind in the
world. One of the main objectives of this survey is to estimate the readership of
publications. The study covers 535 publications (of which 230 are dailies and 305
are magazines) and provides a very good view of the readership patterns in India
and future trends. Some key findings of the NRS 2006 follow.
The reach of the press medium (dailies and magazines combined) has increased
from 216 million to 222 million between 2005 and 2006. As a proportion,
however, press reach has stabilized in urban India at 45 percent and in rural India
at 19 percent. Dailies have driven growth in the press medium, with their reach
increasing when measured as a proportion of all individuals aged 12 years and
above. Magazines have declined in reach from 9 percent to 8 percent over the last
one year. Time spent reading has increased in urban India (from 41 to 44 minutes
daily) and decreased slightly in rural India (from 36 to 35 minutes daily). Literacy
as measured in the NRS 2006 has risen slightly to 71 percent, giving an additional
small boost to publishers. Press (dailies and magazines combined) added 7 million
readers over the last year. Apart from news and politics, sports is the topic of most
interest among readers, and is followed by coverage of films and television soap
operas.

 The main changes which contributed significantly to Printing ink Industry

Growth are the following:

 Desktop Publishing-This introduced Typographic Print put in place of

traditional Typewritten Print out.
 Personalization of Data-This introduced use of specific data to generate
printed items. This was possible due to increasing use of personal
computers and personal printers.
 Digital Printing ink-This introduced Toner based and Inkjet based
technology. Digital Printing ink also holds Variable Data Printing ink
Capacity.
 E-Commerce-E-Commerce has given the relationship between buyers and
sellers a new dimension. E-Commerce or E-Business has strengthened the
business communications and has contributed significantly to Printing ink
Industry Sales.
 Use of Color-In the past decades most of the Printing ink work was done
in Black and White. But, in the present era use of color has risen
tremendously in the print medium. Newspapers, Magazines, Catalogs
Printers have shifted to color reproduction.
  Distributed Production- The production process has changed immensely.
From the Press Centric Production the Printing ink Industry is slowly
moving to Printer Centric Production.

INTRODUCTION OF PLAYERS AND PRODUCTS

MARKET POTENTIAL AND MARKETING ISSUES, IF ANY:

India is among the fast growing Printing ink markets globally spurred by the rapid expansion of
the domestic print markets. Backed by a strong demand from key end user segments such as
package Printing ink, newsprint, publishing and other commercial Printing ink, the Printing ink
market in India has registered strong growth in the recent years. The Printing ink industry is
fragmented with over 550 manufacturers and a large number of players in the un-organized
sector.
Printing ink sector in India is estimated at 3, 60,000 tons for 2019-20, valued at around INR 55
billion; the market witnessed a growth of around 7.5% per annum during the last 10 years.
Printed packaging accounts for around 27% of the demand for Printing inks in India followed by
newspapers at 20%. Commercial Printing ink/ promotional and printed advertising together
account for around 19% of the demand. Other key end user segments for Printing inks include
books and stationery. With the print sector forecast to grow at around 8% per annum, over the
next 5 years, Printing ink segment is expected to grow strongly during the same period.

Micro Inks (Huber group), DIC India, Sakata, Siegwerk,

Flint and Toyo are the leading
manufacturers of Printing ink in
India. The Printing ink sector
witnessed
consolidation
during the last
10 to 15
years.
Some
of the
notable

acquisitions-
collaborations in the
Indian ink industry during this
period are: Huber Group – Micro Inks,
Dai Nippon – Coates of India, Siegwerk –SICPA,
Flint Group – Inco wax, etc.

More recently, some players have embarked on capacity expansions In 2013, Flint Group
inaugurated new liquid ink plant in Vadodara In 2012, Siegwerk India increased its Printing ink
production capacity at its plant in Bhiwadi, Rajasthan, to 20,000 tons per annum from 10,000
tons per annum In 2011, DIC India undertook capacity expansion at the company’s facility in
Ahmedabad; the expansion increased the unit’s capacity to 14,400 tons per annum from 6,000
tons per annum.

The top six players comprising domestic players and established multinational players account
for around 75% of the market. Printing inks has a well-entrenched presence of multinational
players who have entered the market either through a direct subsidiary or through Joint Ventures
with existing domestic players. Going forward, the Printing ink market is set to benefit from
rapid urbanization, increasing literacy rates and growth of FMCG sector.

INK MANUFACTURES IN INDIA

1) HUBER GROUP INDIA

Micro Inks Limited company was founded by the Bilakhia Brothers as a small
scale industry in Vapi, India in 1987 and listed on India stock markets in 1991.
Presently a Huber group company, it is ISO 9001:2000 and ISO 14001:2004
certified.
Since its very beginning, Micro Inks has remained strongly committed to the
Printing ink industry. This is reflected in high levels of investments it had made
not only to manufacture inks but also in the key raw materials like pigments,
resins, varnishes, additives etc. Micro Inks is today amongst the few ink
companies in the world having such high degree of backward integration.
This commitment got a further boost when it became members of the Germany–
based Huber Group in 2005. Being perhaps the oldest ink company in the world,
the Huber Group has a reputation for high quality Printing inks. That quality
culture, based on deep insights and rigid internal discipline, is now the driving
force behind Micro quality.
Micro Inks have a strong faith in partnerships. As an ink company, it not just
shares business with its customers but also explores other possibilities. Staying in
close touch with customers worldwide, had helped it to understand their needs
better. This is why, Micro Inks is considered as a most customer friendly
company in the industry. Service and quality are the two cornerstones of its
business philosophy.
Ever since it became part of Huber Group, it started the process of technology
sharing between the two companies and together pioneered INKREDIBLE
technology for the offset inks. This uniquely innovative technology has proved to
be distinctly superior. This is one of the examples of product excellence. Many
such projects are on in its labs that will continue to deliver better value to the
customers.

The Huber Group is an international holding group comprising of 36 companies,

spread across the globe. The group is acknowledged as one of the leading Printing
ink manufacturers and is also equipped with the know how to manufacture and
market Printing ink varnishes, dampening solutions, additives and Printing ink
auxiliaries.
Today it delivers high quality Printing ink solutions, many a times tailor made, to
customers with diverse and demanding needs across various geographies, through
more than 200 branch offices, sales offices, distributing warehouses and
representatives worldwide.

In this endeavour, it is ably backed by a specialist and informed team of more

than 3,600 employees that directly contribute to a production capacity of over
340,000 tonnes of products
per year.
Since its very
beginning, hubergroup
India has remained strongly
committed to the Printing
ink industry. This is
reflected in our continuous
expansion, not only to
manufacture inks, but also
key raw materials like

pigments, resins,
varnishes, additives
etc. hubergroup India is
today amongst the few
ink companies in the
world having such high
degree of backward
integration.

This commitment, got a

further boost when we
became a members of
the Germany
based hubergroup in
2005. Being perhaps the
oldest ink company in the world having such high degree of backward integration.

hubergroup has a reputation for high quality Printing inks. That quality culture,
based on deep insights and rigid internal discipline, is now the driving force
behind huber's quality.
They provide a wide range of products, these are-

i. UV inks for Offsets process -

Suitable for different substrates, press conditions and Printing
ink speeds
ii. UV inks for Letterpress and Dry offsets -
Letterpress & Dry Offset UV inks suitable for Printing
inklabels,tubes and paper/plastic cups
iii. UV inks for Flexo process -
UV flexo inks for absorbent and non-absorbent stocks
iv. UV inks for Screen Printing ink -
Speciality UV inks designed for screen application on wide
range of plastic and paper substrates to fulfill multiple end
applications in packaging and display.
v. Print Finishes -
UV coatings and special effect varnishes wide range of coatings
for general purpose and special effects suitable for different
application methods and substrates
vi. Fount Soultions and Auxilaries -
Fount concentrates and auxiliaries for print optimisation

2.) DIC INDIA LIMITED

DIC India Limited is an India-based company, which is engaged in the
manufacturing of Printing inks and allied material. The Company is engaged in
Printing ink, publishing and packaging industry segment, which serves
newspapers, magazines, packaging and Printing ink establishments. Its segments
are Printing ink and Adhesive. Its products and services include Printing ink, such
as offset inks, gravure inks, flexo inks,
can coatings and news inks; lamination
adhesives, print finish, such as water-
based varnish; packaging solutions, such
as non-toluene non-ketone inks and cold
seal adhesive; chemical solutions, such as
synthetic resins and organic pigments, and
ancillary services, such as
training/consultation and assistance to the printers. It has manufacturing facilities
in Noida for liquid inks, news inks color and flexo; Kolkata for liquid inks, news
inks, black and offset inks; Bangalore for lamination adhesives, and Ahmedabad
for news black.
DIC India is a part of the World's largest manufacturer of Printing inks and allied
material, DIC Corporation of Japan. DIC Japan has a 71.75% share holding in
DIC India Limited through DIC Asia Pacific Pte Ltd, Singapore. DIC India is one
of the largest companies in the Indian Printing ink, publishing and packaging
industry segment, serving top-of-the-line newspapers, magazines, packaging and
Printing ink establishments in the country. Formerly known as COATES OF
INDIA LIMITED, DIC India was formally born on April 02, 1947. Today, DIC
India has spread its business operations across the country with factories and
logistic centres at strategic locations. DIC India's R & D Centre at Kolkata and
Noida, a member of DIC Group's international R & D network, focuses on
development of new products, improvement of existing ones, new technologies,
processes and applications for indigenous and pan Asia-Pacific markets.
They provide Printing inks inks which classify as their portfolio as-
a) Offsets inks
b) Gravure inks
c) Flexo inks
d) Can coatings
e) News inks
f) Packaging adhesive
The leading global ink
manufacturer, DIC
Corporation has more
than 170 companies,
including Sun
Chemical, its North
American/EMEA
subsidiary. DIC
reported $4.85 billion
(¥521,500 million) in graphic arts sales in 2018, whichwas flat compared
to the previous year.

Sales in printing inks were $3.6 billion. Ink sales in the Americas and
Europe rose 2.5% and 4.3% in Asia and Oceania, offsetting a 3.6% decline
in Japan. The Fine Chemicals segment includes pigments, and DIC
reported a decline of 2.3% to ¥132.3 billion ($1.2 billion), although effect
pigment sales were up.

“Sales in Japan declined, a consequence of diminished demand for

publishing inks, among others,” the company reported in its annual report.
“Although sales of packaging inks rose, sales in North America edged
down, owing to waning demand for publishing inks and news inks. In
 Europe, sales increased, boosted by brisk shipments of packaging inks.
Sales in Central and South America were up in all product categories.
Higher shipments of packaging inks and publishing inks bolstered sales in
the PRC and Southeast Asia. Sales in Oceania fell, with causes including
fading demand for publishing inks and news inks. Sales in India increased
in all product categories.”

3.) TOYO
Toyo Ink India Pvt. Ltd. was founded in 2006 as a manufacturer and sellerof
Printing ink and specialty chemical products.
The factory was inaugurated in Greater
Noida, Uttar Pradesh in 2008. High
quality series of offset Printing inks and
UV overPrinting ink varnishes are being
manufactured and supplied to India and
overseas market. Toyo Ink India Pvt. Ltd. also
sells imported products manufactured by Toyo Ink Japan and its subsidiary
companies all over the world.Toyo Ink India now offers the Indian Printing ink
fraternity a range of inks and special products that set new benchmarks in
excellence. It offers premium Sheet Fed Inks manufactured at its own plant in
India, with advanced and innovative Japanese ink technology. These inks offer
superior gloss, rub resistance, fast setting and perform on a variety of substrates.
A series of quality UV overPrinting ink varnishes, imported high quality Liquid
Inks and Can Coatings are also available.In Japan, sales of gravure inks for the
packaging of food and drinks remain strong and sales of biomass inks to the Japan
market and of eco-friendly packaging materials in Southeast Asia and India are on
a growth trajectory, he added. Domestic demand for offset inks for the
commercial printing of circulars and other materials, existing information
publications including newspapers and magazines, and related materials remained
weaker than expected.Given the shrinking domestic information-related print
market associated with the progress of digitization, the Group sought to optimize
its business scale by product and reduce costs in Japan, while bolstering sales
overseas by expanding its global bases, which resulted in the advancement of
sales expansion in India and Turkey.Meanwhile, the Group focused on the
development and sale of highly sensitive UV ink using leading-edge technology
and other products such as inkjet ink for on-demand printing and the increase of
the linkage among different businesses, thereby facilitating business growth in
2018.According to Yamaoka, FY2019 started off strong for the Packaging
Materials Business. “Above all, sales of biomass inks grew strongly,” he said.
“Overseas, sales of eco-friendly type products expanded in Southeast Asia and
India, while sales did not grow much in China.“The Group continues to focus on
the development and sale of highly sensitive or energy-saving inks for ozone-free
and LED-UV curing systems. The popular FLASH DRY series of low-energy UV
inks effectively reduce power consumption and CO2 during the printing process,”
Yamaoka continued. “Our next-generation inkjet inks meet the industry demand
for increased quality images and printability for offset printing as well as offer the
flexibility of on-demand printing. Toyo Ink America also introduced multiple
high-performance lamination ink products for both flexo and gravure in addition
to high-end laminating adhesive solutions into North America. TOMOFLEX TM-
250HV-US two-component polyester adhesives are developed for retort pouches
processed at temperatures up to 135°C.”Toyo Ink added new operations in
Myanmar and Morocco.“In June 2018, the Group’s parent Toyo Ink SC Holdings
announced the establishment of a new manufacturing subsidiary in the Thilawa
economic zone in Yangon, Myanmar,” Yamaoka said. “The new factory broke
ground in November 2018 with production expected to begin in November
2019.“Up to now, the Group had been supplying Myanmar with exports via
neighboring countries while eyeing expansion in the country,” he continued,
adding that Toyo is the first major ink manufacturer to set up a production
foothold there. “In recent years, the Myanmar government has pushed forward
with aggressive policies to attract foreign funding, such as infrastructure
enhancements and the relaxation of import restrictions. Such initiatives have
substantially strengthened Myanmar’s investment climate, making it an attractive
investment destination.

4.) SAKATA INX

Sakata Inx Corporation Japan was founded in the year 1896 and is now a
global inkmanufacturer. SIC expanded overseas in 1948 and has over 36
major bases worldwide.With over a century of history, SAKATA INX has
always been on the forefront of expanding its involvement in the Printing ink
and information industries.SAKATA INX will continue to expand on its
broad base of technology and make it our highest priority to serve the
technical innovation of the Printing ink and information industries. Their
vision is "Creation of Visual Communication Technology."For that reason,
SAKATA INX will make the Printing ink business our core business, and
will continue with new research and development activities based on our
basic technologies. In the Printing ink related field, SAKATA INX will take
an active approach to the new business as an "ecological-oriented company,"
SAKATA INX is committed to act on that concept in all of our business
activities.It goes without saying that we will develop environmentally
friendly products.Furthermore, we are utilizing our core technologies such as
polymer design, pigment dispersionand material control technology to deploy
image display material, functional coating material, energy material,
functional colorants and others,” Watano added.While Watano and Sakata
INX are concerned about geopolitical issues facing the industry in general, he
believes that there are significant opportunities ahead, particularly in
packaging and environmentally friendly products.“The situation is not
optimistic due to economic effects and raw material prices as there are many
matters to be concerned about, such as Chinese environmental regulations,
the US-China trade dispute and Brexit,” Watano said. “On the other hand, we
continue to see steady economic growth in newly developing countries,
mainly Asia. The global demand for packages continues to grow, and we
believe that packaging ink sales
volume will increase. As marine
plastic and plastic waste become a
global issue, we think film
packaging will be reconsidered
globally. We will propel
development and expand sales
of environmentally friendly
 products since we expect the demand for such products will increase even
more.”

5.) FLINT GROUP

Flint Group is a privately owned company with its headquarters in
Luxembourg. Having a revenue of US$2.3 billion and about 7,900
employees, Flint Group is one of the largest suppliers to the Printing ink and
packaging industry worldwide. Flint Group operates 180 sites in 40 countries
across the globe.Flint Group’s history is characterised by mergers and
acquisitions. The company combined four businesses that together cover
nearly the complete range of packaging and print media print consumables.
In 2004, CVC Capital acquired ANI, an ink producer that was previously a
business unit of Akzo Nobel and BASF Printing ink Systems, a business unit
of BASF, and combined both companies.The acquisition of Flint Ink
Corporation, a US supplier of Printing ink and colorants, in late 2005,
resulted in the formation of Flint Group. In 2007, Flint Group acquired Day
International, Inc., a manufacturer of consumable image-transfer products
and press room chemicals for the packaging and print media industries,
which supplemented Flint Group’s existing product line and increased its
global position in the non-ink press room consumables market. From 2015
the company also owns
Xeikon a leading
developer of digital colour
presses. In the same year
Flint Group Africa was
formed with a majority
shareholding along with
Continental Inks in South Africa. In the US Flint Group acquired American
Inks & Coatings, Printec and Advanced Colour System in 2016, in the UK,
FG also added Druckfarben to the portfolio.

6.) KOKUYO CAMLIN LIT.

KokuyoCamlinLtd.,formerlyknownas"CamlinLtd.",isanIndianstationerymanu
facturing company based in Mumbai . The company shares profits with
Kokuyo of Japan, which holds around 51% stake in Kokuyo Camlin after
buying it in. Camlin was established and run by the Dandekarfamily , starting
operations as "Dandekar& Co." with "Horse Brand" Ink powders and tablets
in 1931, and shortly started producing "Camel ink" for fountain pens. It was
incorporated as a private company in 1946, and then turned into a public
limited company in 1997.
In May 2012, Japanese stationery major, "KokuyoCo.Ltd", acquired a 50,
74% stake in Camlin, the leading Indian manufacturer by then. Kokuyo paid
RS366 crore for the acquisition. DilipDandekar continued as chairman and
managing director of the company. .The deal intended to facilitate the entry
of Kokuyo products, mainly paper and office stationery into the Indian
market . On the other hand, Camlin aimed to increase its exports to other
countries.
 MANAGERIAL DECISION MAKING IN CUREENT SITUATION

I. MANAGEMENT PRINCIPLES:
To lead and operate an organization successfully, it is necessary to direct and control it in
a systematic and transparent manner. The success can result fro implementing and
maintaining a management system that is designed to continually improve the
performance while addressing the needs of all the interested parties.
Eight Quality Management Principles have been identified by The Students publications
that can be used by the Top Management in order to lead the organization towards
improved performance.

1) Customer Focus-
“The Students” depend on their customers and therefore should understand current and
future customer needs, should meet customer requirements and strive to exceed customer
expectations (Customer delight)

2) Leadership-
Leaders establish unity of purpose and direction of the organization. They should create
and maintain the internal environment in which people can become fully involved in the
achievement of organization objectives.

3) Improvement of People-
People at all levels are the essence of an organization and their full involvement enables
their abilities to be used for the organization’s benefit.

4) Process approach-
A desire result is achieved more efficiently when activities and related are managed as a
process.

5) System approach to Management-

Identifying, Understanding and Managing inter-related processes as a system contributes
to the organization’s effectiveness and efficiency in achieving its objectives.

6) Continuous Improvement-
Continuous improvement of organization’s overall performance should be a permanent
objective of the organization.

7) Factual approach to decision making-

Effective decisions are based on the analysis of data and information.
8) Mutually beneficial supplier relationships-
An Organization and its suppliers are interdependent and a mutually beneficial
relationship enhances the ability of both to create value.

WHAT MAKES INDIAN PRINTING INK MARKET UNIQUE?

1. Highly fragmented nature

India’s print media industry is highly fragmented, with more than 8,500 daily newspapers
published across the country. The print media has a total readership of around 215m.
Vernacular newspapers have the highest readership, followed by Hindi newspapers (9.2%
readership) and English newspapers (2.7%).

2. Mismatch between advertising & circulation

Regional newspapers are leaders in circulation and readership...
Indian newspapers can be segmented into English and regional (Hindi and local language
newspapers)
. ...but English newspapers dominate the advertising pie Despite clear dominance of the
circulation and readership charts, regional newspapers’ share in the total print industry
and specifically advertising pie is disproportionately low. This skew has traditionally
existed as the income level and purchasing power of a regional language/Hindi
newspaper reader is typically low and hence is not the target of many advertisers. English
newspapers' advertising rates are at a 35-60% premium to local language newspapers.
Industry sources indicate that English newspapers have a 50% market share of total print
advertising and Hindi and local language newspapers have a 25% share each.

3. Print media in non-metro towns growing faster

Non metro and smaller towns are witnessing stronger growth in print mediacompared to
the larger metro cities. Traditionally, large metro cities, which also tend to have high
percentage of English newspaper readership, have commanded significant advertising
rate premium over non-metro newspapers, owing to superior per capita incomes and
higher growth potential.

UPCOMING TECHNOLOGIES AND THE FUTURE OF PRINT INDUSTRY

We all know that technological concepts in and around the world are changing rapidly.
Today what we learn is insufficient or obsolete tomorrow. This is not just the case of
Printing ink industry but applicable to most of the conventional industries. As Printing
ink Technology contributes major percentage of the media industry, we also have to
understand clearly these changes to be there in the market. A successful entrepreneur
should understand these reengineered areas and go for the new technology adoption or
absorption to fulfill the customer requirements. The present technology demands not just
experience but the ability to convert the requirements of the customer to workable
specification immediately. In the early 90's we witnessed the economic boom in some of
the Asian countries. Specifically speaking Japan rose to the 2nd largest economic power.
But from 1995 - the recession started. There are three important factors which will
certainly help the Asian Graphic Arts Industry to boom in this Millennium are (i) Growth
of Educational level, (ii) Emergence of large middle class, (iii) Population increase.
The "Manthra" of success in this 21st century is “Learn, Unlearn and Relearn” and
“Reduce, Reuse, Recycle and Recover".
  Digital
Workflow in the Print Production Process

The ability to capture, store, process, manipulate, image transmission and

electronically display information is transforming and redefining the Printing ink
industry (Chung, R et al., (2007). This modern technology improves the
efficiency and productivity of the Printing ink process and also facilitates close
connection between customer, prepress, press and post press. Even though we
claim Printing ink industry as the 3rd largest industry in the world it is positioned
only in the 26th place in productivity and turnover just because it remains craft
based with huge inefficiencies at the interfaces. This digital revolution and work
flow has substantially improved the industry and still there is enough scope to
develop. Some of the important developments are briefed below.

 Computer to Plate Technology

CtP was introduced in 1995, and now it has started taking momentum in offset
Printing ink. CTP reduces; make ready time, saves labor, and material.
Throughout the world there are about 1, 85,000 installations (US 27%, Europe
48% and Asia 15%) Computer to Conventional Plate (CTCP) also has
becomevery popular now a days and many organisations are moving towards this
technology.
 Colour Management

Another field which reaps significant benefits is "Color Management and

Calibration". The present trend is towards standardized equipment and software
for proper, actual color reproduction. Various color models are quite satisfactory
to specify colours and to calibrate and reproduce. Prinectfrom Heidelberg,
Formulation Master from X Rite, EFI, Gretag Macbeth, GMG are different
modules for the colour calibration and management.

 Digital Printing ink

Digital and variable Printing ink is becoming more popular. Most of the
established companies use digital presses like Kodak Nexpress, Scitex. Variable
image Digital presses like Xeikon, Xerox and Indigo offer good quality output
near offset quality. None of these presses are cost effective when compared to
conventional presses. But for short run on demand jobs this is suitable and we can
hope in the future these presses may become cost effective also.

 Printed Electronics

Printed electronics is the term for a relatively new technology that

defines the Printing ink of electronics on common media such as paper, plastic,
and textile using standard Printing ink processes. This Printing ink preferably
utilizes
common press equipment in the graphics arts industry, such as screen Printing
ink,
flexography, gravure, and offset lithography. Instead of Printing ink graphic arts
inks, families of electrically functional electronic inks are used to print active
devices, such as thin film transistors. Printed electronics is expected to facilitate
widespread and very low-cost electronics useful for applications not typically
associated with conventional (i.e., silicon-based) electronics, such as flexible
displays, smart labels, animated posters, and active clothing.The term printed
electronics is often used in association with organic electronics or plastic
electronics, where one or more functional inks are composed of carbon-based
compounds. While these other terms refer to the material system, the process used
to deposit them can be either solution-based, vacuum-based, or some other
method. Printed electronics, in contrast, specifies the process, and can utilize any
solution-based material, including organic semiconductors, inorganic
semiconductors, metallic conductors, nanoparticles, nanotubes, etc.
FOCUS AREAS OF THE INK MANAGEMENT MODEL

The INK Management Model uses ten focus areas namely five organizational areas, four
result areas and one area for continuous improvement that are determinative for the
success of an organization. The organization areas are mainly about how the organization
should be organized. The result areas are the objectives and performance that are
associated with the organization. The final focus area is about the self-learning ability of
the organization.
 Leadership

Leadership within the INK Management Model is about the attitude and behaviour of all
people within the organization who have a guiding responsibility and these include all the
directors, managers, team leaders, etc. They should be an inspiring and driving force
behind the continuous improvement of an organization. Mission, vision and the definition
of strengths and raisons d’être of the organization are included in this focus area.

 Staff management

Staff management is about fully using the potential of knowledge and expertise
within the organization so that they can work on continuous improvement the best
possible manner. In addition to recognition, appreciation and respect it is also
about helping people with their personal development and making optimum use
of their competences.

 Strategy and Policy

The focus area of ‘Strategy and policy’ represents the way in which the
organization translates its mission and vision into objectives for all people that are
part of the organization. What does the mission of the organization mean to me as
an individual and what does it mean for the department? What are the set
objectives and how are they going to be achieved? This area focuses on how an
 organization can be an excellent organization through continuous improvement.
Communication is an important focus area in this.

 Management of Resources

This is how resources (finance, materials, information, buildings, etc) are handled
within the organization. Efforts should be made to use the available resources as
well as possible. Besides resources, it is also important to consider ways of
cooperating with suppliers and partners to increase the added value in the chain.

 Process Management

Process management is about how the organization (from strategy and policy)
identifies, designs, manages , improves or innovates its processes. A distinction is
made between primary, supporting and management processes. The effectiveness
of the process is measured on the basis of evaluations with internal and external
customers.

 Employees

This focus area is about opinions and experiences of the employees. Are the
employees of the organization satisfied? This is an important focal point because
disgruntled employees cause customers to be dissatisfied. What is being done to
make/keep the staff happy?

 Customers and Partners

Valuation by customers, partners and suppliers are key factors in this as it says something
about the success of the service that is provided by an organization. Alternating roles as
well as prolonged and intensive cooperation can be distinguished within this area. Is the
customer satisfied with the end result we have delivered and is the customers also
satisfied with the way in which the end result is established? It should be noted that this
could vary for the different organizations to a greater or lesser extent. What is being done
to keep/make the customer happy?
CHALLENGES AND SUUGESTION TO PRINTING INK INDUSTRY

The Printing ink industry has been facing a number of challenges. Theshift to digital
media platforms has siphoned advertising dollars away from printoperators toward digital
media. This general trend, exacerbated by the recession,caused revenue to decline over
the past five years. As the global economy picksup and emerging countries continue to
grow rapidly, revenue will bounce backslightly in the next five years. Rising capital
investment in emerging markets inChina, Eastern Europe and India has outpaced capital
investment in the UnitedStates and European market, which has generally been declining
over the pastfive years due to overcapacity in the market (Rothenberg, S., (2004).Smaller
companies have been consolidated into larger conglomeratescovering broader
geographical areas. Also, the number of employees in theindustry has been falling. Aging
employees have left the workplace, and fewernew students have been entering traditional
Printing ink programs in educationalinstitutions, instead preferring to enroll in computer
and graphic designprograms. Increased mechanization of production equipment has
meant fewerjobs are available. Cost cutting has resulted in downsizing, often through
plantclosures or outsourcing. Increased buyer power (partially resulting from the easeof
ordering and comparing prices through the Internet) has forced printers to becompetitive
against other companies. Printing ink companies must purchase newequipment and
retrain workers to keep up with the technological advancements necessary to meet
customer’s expectations. The amount of printed materialneeded has also dropped, as
customers increasingly make use of other mediaoptions. Electronic files have replaced
many items that were traditionally printed.For Printing ink companies to compete with
electronic options, they must increasethe perceived value of print items, possibly through
wider product choices. In thelatter part of the twentieth century, the widespread
ownership of powerfulpersonal computers and the advent of desktop publishing allowed
individuals toself-produce products that were previously the work of printers.
Computerizationhas lowered the number of printed pages that are produced in many
industries.Customers ask printers to create a mock-up or draft of a finished product (such
asreports, advertisements, and posters), they increasingly use computer-generateddrafts
and rely on printers only for the final product.

SUGGESTIONS:
The global ink industry can perhaps be described as being the status quo during 2018.
Sales of inks remained fairly steady.

Like the previous few years, mergers within the ink industry were few and far between,
while the printing industry saw its share of consolidation, including a huge move on her
flexible packaging side with Amcor acquiring Bemis. In another billion-dollar move, an
affiliate of private equity firm Platinum Equity acquired Multi-Color Corporation, a
leading label converter.

For ink companies, packaging remains the strongest segment in terms of growth, while
the publication and commercial side continued to see decreases in sales. UV and digital
printing are also showing strong growth.

As in years past, raw materials also remained in the headlines. The supply of key
materials such as photoinitiators and pigments from China has been interrupted for a
variety of reasons, from environmental issues such as new regulations as well as
industrial accidents. This, in turn, has led to higher costs and availability concerns.

Regulatory issues remain a challenge for ink suppliers, as brand owners and governments
take aim at packaging requirements. This is requiring a lot of extra R&D for ink
manufacturers.

With these challenges come opportunities. For ink manufacturers, the ability to partner
closely with customers and suppliers alike, differentiate their products and services and
diversify their portfolio can make a huge difference in the market. At a time when the
market is changing rapidly, the ability for ink manufacturers to evolve with their
customers is critical for their future.
 BIBLIOGRAPHY

References[edit]

1. ^ "Market Study: Printing Inks – World". Ceresana. Retrieved 2013-05-21.

2. ^ Banerji, page 673
3. ^ Jump up to:a b Sircar, page 62
4. ^ Jump up to:a b Sircar, page 67
5. ^ Joseph Needham; Tsien Tsuen-Hsuin (11 July 1985). Science and Civilisation in
China: Volume 5, Chemistry and Chemical Technology, Part 1, Paper and Printing.
Cambridge University Press. p. 5. ISBN 978-0-521-08690-5.
6. ^ Tallet, Pierre (2012). "Ayn Sukhna and Wadi el-Jarf: Two newly discovered pharaonic
harbours on the Suez Gulf" (PDF). British Museum Studies in Ancient Egypt and
Sudan. 18: 147–68. ISSN 2049-5021. Retrieved 21 April 2013.
7. ^ Joseph Needham; Tsien Tsuen-Hsuin (11 July 1985). Science and Civilisation in
China: Volume 5, Chemistry and Chemical Technology, Part 1, Paper and Printing.
Cambridge University Press. p. 234. ISBN 978-0-521-08690-5.
8. ^ * Woods, Michael; Woods, Mary (2000). Ancient Communication: Form Grunts to
Graffiti.pp 51–52. Minneapolis: Runestone Press; an imprint of Lerner Publishing
Group.....
9. ^ 蔡, 玫芬, 二、墨的發展史, National Chang-Hua Hall of Social Education, archived
from the original on 2004-11-26
10. ^ Yuuko Suzuki, Introduction to Japanese calligraphy, Search Press 2005, Calligraphie
japonaise, 2003, éd. Fleurus, Paris
 WEBSITES:

1. https://www.inkworldmagazine.com/issues/2018-07-01/view_features/the-2018-top-
international-ink-companies-report/

2. https://en.wikipedia.org/wiki/Ink

3. http://www.hubergroup.in/

4. https://www.inkworldmagazine.com/

5. https://www.inkworldmagazine.com/contents/list_experts-opinion?nav=main_nav