NAICS 325910 Quarterly Industry Report
Printing Ink Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 325910Sector: 32Updated: Q1 2026
About This Report
This Fair Market Value industry report for NAICS 325910 delivers business owners, acquirers, and financial advisors data-driven valuation insights for the printing ink manufacturing sector, drawing on data from the U.S. Census Bureau[5] and EPA[8] volatile organic compound regulatory statistics. Additional data is drawn from Bureau of Labor Statistics[9].. The report aggregates transaction multiples, financial benchmarks, and market trends specific to NAICS 325910 establishments, supporting buy-sell agreements, succession planning, SBA-financed acquisitions, and litigation support engagements.
Industry Snapshot
Key metrics for the printing ink manufacturing industry.
Industry Definition & Overview
Printing Ink Manufacturing (NAICS 325910) encompasses establishments primarily engaged in manufacturing printing inks including lithographic, flexographic, gravure, letterpress, screen printing, digital inkjet, and specialty inks such as metallic, fluorescent, and security inks. According to the U.S. Census Bureau[5], approximately 163 companies operate across 298 establishments, employing roughly 8,900 workers with annual payroll exceeding $632 million in manufacturing facilities that produce liquid and paste inks consumed by commercial printers, packaging converters, newspaper publishers, and industrial marking applications.
The industry has adapted to structural shifts in print media consumption, with packaging ink demand growth offsetting declines in publication and commercial printing ink volumes. Flexographic inks for corrugated packaging, food packaging, and label printing represent the fastest-growing segment, while lithographic inks serve the commercial printing market and digital inkjet formulations support the rapid expansion of digital printing platforms. The Bureau of Labor Statistics[6] identifies production roles including ink grinding and dispersion operators, color matching technicians performing spectrophotometric analysis, formulation chemists developing ink chemistries for specific printing processes, quality control analysts testing viscosity, tack, and color density, and technical service representatives supporting printer customers with press-side troubleshooting.
Per the SBA Office of Advocacy[7], the industry has consolidated through decades of acquisitions, with a small number of multinational ink companies commanding the majority of market share. Smaller regional ink manufacturers compete through rapid-response custom color matching, technical service capabilities, and specialization in niche ink categories including UV-curable, energy-curable, and food-packaging-compliant formulations.
What's Included in This Industry
- Valuation multiples benchmarked to printing ink manufacturing operations
- Revenue and EBITDA trends for domestic ink production facilities
- SBA lending data and financing terms for NAICS 325910 businesses
- Comparable transaction data from recent printing ink company acquisitions
- Industry risk factors including print volume declines, raw material costs, and regulatory compliance
- Workforce composition and labor cost benchmarks for ink manufacturing operations
- Regional market analysis covering major ink production and distribution centers
- Capital expenditure benchmarks for dispersion mills and blending equipment
- Growth projections tied to packaging ink demand and digital inkjet formulation growth
- Owner compensation and discretionary earnings benchmarks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Chemical Manufacturing | 325 |
| Industry Group | Other Chemical Product and Preparation Manufacturing | 3259 |
| NAICS Industry | Printing Ink Manufacturing | 32591 |
| National Industry | Printing Ink Manufacturing | 325910 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 323111 | Commercial Printing (except Screen and Books) | Commercial printing establishments consuming lithographic, digital, and specialty inks as primary production consumables in offset and digital printing operations |
| 323120 | Support Activities for Printing | Support activities for printing including prepress, bindery, and finishing operations that consume specialty inks and coatings in post-press finishing processes |
| 323117 | Books Printing | Book printing operations consuming lithographic and digital inks for text and cover printing production across book manufacturing publishing formats |
| 325510 | Paint and Coating Manufacturing | Paint and coating manufacturers sharing pigment dispersion technology, resin chemistry expertise, and raw material supply chains with printing ink producers |
| 325199 | All Other Basic Organic Chemical Manufacturing | Basic organic chemical manufacturers producing solvents, resins, and chemical intermediates consumed as raw material inputs in printing ink formulation processes |
| 322219 | Other Paperboard Container Manufacturing | Other paperboard container manufacturers consuming flexographic printing inks for corrugated packaging, folding carton, and paperboard product printing operations |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 11.4% | 32 |
| 2 | Illinois | 9.3% | 26 |
| 3 | Ohio | 7.1% | 20 |
| 4 | New Jersey | 6.4% | 18 |
| 5 | Texas | 6.4% | 18 |
| 6 | North Carolina | 5.7% | 16 |
| 7 | Massachusetts | 5.3% | 15 |
| 8 | Georgia | 5.0% | 14 |
| 9 | Pennsylvania | 3.9% | 11 |
| 10 | Florida | 3.9% | 11 |
% Of Establishments
0%
11%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
24
Total SBA Loans
$4.6M
Total Loan Volume
$190K
Average Loan Size
10 yrs
Average Loan Term
11.92%
Average Interest Rate
112
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Printing ink manufacturers evaluating SBA financing benefit from qualification under the SBA size standards[10] for NAICS 325910, which set the threshold at 750 employees for small business classification. The SBA 7(a) loan program[11] supports smaller regional ink producers and specialty formulators acquiring businesses or financing working capital for pigment and resin inventory, while the CDC/504 loan program[12] provides long-term fixed-rate financing for dispersion equipment, automated blending systems, and warehouse facilities. Lenders evaluate customer diversification between publication and packaging segments, raw material supplier relationships, and technical differentiation when structuring printing ink manufacturing loans.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Northeast Bank | 16 | $4.4M | $275K |
| 2 | BankNewport | 8 | $160K | $20K |
Frequently Asked Questions
Common questions about this industry.
What is the typical valuation multiple for a printing ink manufacturer?
Printing ink manufacturers typically trade at 5x to 8x EBITDA, with packaging ink specialists commanding higher multiples than publication ink producers facing secular demand declines. Per U.S. Census Bureau[5] data, valuations reflect the shift toward packaging ink growth and the competitive intensity of the consolidated ink market.
What SBA loan options are available for printing ink businesses?
The SBA[10] sets the small business threshold at 750 employees for NAICS 325910. Smaller regional ink manufacturers and specialty formulators typically qualify, with 7(a) loans for acquisitions and 504 loans for manufacturing equipment investments.
How is digital printing affecting the ink manufacturing industry?
Digital inkjet technology is capturing market share from conventional printing processes, creating demand for specialized inkjet ink formulations. Per the U.S. Census Bureau[5], digital printing growth in packaging, wide-format, and industrial applications has expanded the addressable market for digital ink producers.
What raw materials drive printing ink manufacturing costs?
Pigments, resins, solvents, and specialty additives represent 60% to 70% of ink production costs. Per the International Trade Administration[13], titanium dioxide, carbon black, and petrochemical-derived resin pricing directly affect ink manufacturing margins.
What environmental regulations affect ink manufacturers?
The EPA[8] regulates printing ink manufacturing under Clean Air Act VOC emission standards, driving industry reformulation from solvent-based to water-based, UV-curable, and energy-curable ink technologies that reduce volatile organic compound emissions during printing.
How is packaging driving ink industry growth?
Flexographic and gravure packaging inks represent the strongest growth segment as consumer goods packaging, e-commerce shipping, and food packaging volumes expand. Per the U.S. Census Bureau[5], packaging ink demand growth has more than offset publication ink volume declines from reduced print media consumption.
What workforce challenges do ink manufacturers face?
The Bureau of Labor Statistics[6] reports that ink formulation chemists, color technology specialists, and technical service representatives are in demand across the printing ink sector. Industry consolidation has reduced training opportunities, creating competition for experienced color matching and press-side service professionals.
How does food packaging regulation affect ink manufacturers?
Food contact compliance requirements from the FDA[14] and brand owner specifications drive demand for low-migration inks and coatings formulated to prevent ink component transfer into food products. Food-packaging-compliant ink formulations command premium pricing and require ongoing regulatory monitoring.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Office of Advocacy advocacy.sba.gov
- [8]EPA epa.gov
- [9]Bureau of Labor Statistics bls.gov
- [10]SBA size standards sba.gov
- [11]SBA 7(a) loan program sba.gov
- [12]CDC/504 loan program sba.gov
- [13]International Trade Administration trade.gov
- [14]FDA fda.gov
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